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Firm heterogeneity and the transmission of central bank credit policy

Kuhmann, Konrad - 2023

I study the role of firm heterogeneity for the transmission of unconventional monetary policy in the form of "credit policy" à la Gertler and Karadi (2011). To this end, I lay out a Two-Agent New-Keynesian model with financially constrained and unconstrained firms and a financial intermediary...

Persistent link: https://www.econbiz.de/10014234463

COVID-19 effects on the Canadian term structure of interest rates

Severino, Federico; Cremona, Marzia A.; Dadié, Éric - In: Review of Economic Analysis : REA 14 (2022) 4, pp. 471-502

In Canada, COVID-19 pandemic triggered exceptional monetary policy interventions by the central bank, which in March … 2020 made multiple unscheduled cuts to its target rate. In this paper we assess the extent to which Bank of Canada … changed after target rate cuts. Bank of Canada was effective in lowering the whole yield curve and correcting the inverted …

Persistent link: https://www.econbiz.de/10014287518

Modeling which factors impact interest rates

Wang, Guizhou; Hausken, Kjell - In: Journal of central banking theory and practice 12 (2023) 2, pp. 211-237

The Taylor (1993) rule for determining interest rates is generalized to account for three additional variables: The money supply, money velocity, and the unemployment rate. Thus, five parameters, i.e. weights assigned to the deviation in the inflation rate, the deviation in real GDP (Gross...

Persistent link: https://www.econbiz.de/10014316675

Geldpolitik im Zielkonflikt

Garnadt, Niklas; Malmendier, Ulrike; Other, Lars - In: Wirtschaftsdienst : Zeitschrift für Wirtschaftspolitik 102 (2022) 12, pp. 910-911

Persistent link: https://www.econbiz.de/10013532182

The effect of Euribor on banking profitability : evidence from the Spanish banking system

Boto-García, David; Alvarez, Antonio M.; Baños-Pino, José - In: European journal of government and economics : EJGE 10 (2021) 1, pp. 5-29

This paper studies the relationship between the Euribor rate and the return on average assets (ROAA) of the Spanish banking sector. We use quarterly time series data for the period 1995-2016. Our analysis also controls for bank factors, market concentration, the macroeconomic environment and...

Persistent link: https://www.econbiz.de/10013173802

How monetary policy affects industrial activity in Malawi : evidence from ARDL and VAR models

Matola, Joseph Upile - In: Cogent economics & finance 11 (2023) 1, pp. 1-21

In this paper, the impact of monetary policy on industrial production is investigated for Malawi. Using the ARDL bounds testing approach, and VAR models, it is shown that tight monetary conditions negatively affect industrial production both in the short run and in the long run. This is the case...

Persistent link: https://www.econbiz.de/10014500750

A Keynesian analysis of Canadian government securities yields

Das, Anupam; Akram, Tanweer - In: PSL quarterly review 73 (2020) 294, pp. 241-260

yields in Canada, after controlling for other important financial variables. The statistical analysis uses high … that the actions of the Bank of Canada are key drivers of Canadian government securities yields in the long run, which … of Canada's actions can have a decisive effect on the long-term interest rate over the long horizon. …

Persistent link: https://www.econbiz.de/10012435611

Relationship lending and monetary policy pass-through

Cao, Jin; Dubuis, Pierre; Liaudinskas, Karolis - 2025

This paper investigates the link between bank-firm lending relationships and monetary policy pass-through, focusing on episodes of low interest rates. Using administrative tax and bank supervisory data ranging from 1997 to 2019, we track the entirety of bank-firm relationships in Norway. Our...

Persistent link: https://www.econbiz.de/10015271423

Examining US monetary spillover to Indonesian local currency government bonds in volatile periods

Nugraha, Muhammad Fajar - 2023

This study analyzes the magnitude of the US monetary policy spillover on the Indonesian local currency government bond yield, particularly when the Federal Reserve (Fed) implemented the quantitative easing (QE), tapering off, Fed fund rate (FFR) normalization, and quantitative tightening over...

Persistent link: https://www.econbiz.de/10014289870

Spillover effects between the stock market and the real economy in a mixed-frequency agent-based macrofinancial model

Kotb, Naira; Brenneisen, Jan-Niklas; Lengnick, Matthias; … - 2024

This paper illustrates a behavioral mixed frequency macro-finance model where both real and financial variables are generated on a daily basis. Further, while financial sector data is collected at the same frequency as it is generated (i.e. daily), real data can only be collected on a quarterly...

Persistent link: https://www.econbiz.de/10015326010