Search Results - subject:"aggregates"

Money and Output asymmetry : the unintended consequences of central banks' obsession with inflation

Ghosh, Taniya; Gorsi, Abhishek - 2023

Persistent link: https://www.econbiz.de/10014280820

Nonlinear dynamics in Divisia monetary aggregates : an application of recurrence quantification analysis

Andreadis, Ioannis; Fragkou, Athanasios D.; … - In: Financial innovation : FIN 9 (2023) 1, pp. 1-17

properties of the new Center for Financial Stability (CFS) Divisia monetary aggregates for the United States. In this study, we … use the latest vintage of Divisia aggregates, maintained within CFS. We use monthly data, from January 1967 to December … chaotic explanation of their origin. The application of RPs to broad Divisia monetary aggregates encompasses an additional …

Persistent link: https://www.econbiz.de/10014288913

The impact of unemployment insurance and unsecured credit on business cycles

Irwin, Michael - 2023 - Last updated: April 13, 2023

I study how unsecured credit affects the extent to which unemployment insurance (UI) policies smooth cyclical fluctuations in aggregate consumption. To do so, I develop a real business cycle model with incomplete asset markets, frictional labor markets, and defaultable debt. Using empirically...

Persistent link: https://www.econbiz.de/10014253779

Central banking in perilous times : an open-ended chronicle

Biondi, Yuri - In: Accounting, Economics, and Law : AEL ; a convivium 13 (2023) 2, pp. 49-102

Persistent link: https://www.econbiz.de/10014303294

Recent monetary policy and the credit card-augmented divisia monetary aggregates

Liu, Jinan; Dery, Cosmas; Serletis, Apostolos - 2020

Persistent link: https://www.econbiz.de/10012319345

Financial intermediaries and the macroeconomy: Evidence from a high-frequency identification

Ottonello, Pablo; Song, Wenting - 2022

We provide empirical evidence of the causal effects of changes in financial intermediaries' net worth on the aggregate economy. Our strategy identifies financial shocks as high-frequency changes in the market value of intermediaries' net worth in a narrow window around their earnings...

Persistent link: https://www.econbiz.de/10013396507

Risk and state-dependent financial frictions

Harding, Martín; Wouters, Rafael - 2022

We augment a standard New Keynesian model with a financial accelerator mechanism and show that financial frictions generate large state-dependent amplification effects. We fit the model to US data and show that, when shocks drive the model far away from the steady state, the nonlinear model...

Persistent link: https://www.econbiz.de/10014304184

Monetary policy, credit constraints and SME employment

Champagne, Julien; Gouin-Bonenfant, Émilien - 2022

Do financial constraints amplify or dampen the transmission of monetary policy to the real economy? To answer this question, we propose a simple empirical strategy that combines (i) firm-level employment and balance sheet data, (ii) identified monetary policy shocks and (iii) survey data on...

Persistent link: https://www.econbiz.de/10014544634

Money and inflation in Switzerland

Kugler, Peter; Reynard, Samuel - In: Swiss Journal of Economics and Statistics 158 (2022) 1, pp. 1-13

This paper characterizes the relationship between monetary aggregates, inflation and economic activity in Switzerland …

Persistent link: https://www.econbiz.de/10013205818

Money and inflation in Switzerland

Kugler, Peter; Reynard, Samuel - In: Swiss journal of economics and statistics 158 (2022) 1, pp. 1-13

This paper characterizes the relationship between monetary aggregates, inflation and economic activity in Switzerland …

Persistent link: https://www.econbiz.de/10012793487