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Monetary policy when export revenues drop

Bergholt, Drago; Røisland, Øistein; Sveen, Tommy; … - 2022

We study how monetary policy should respond to shocks which permanently alter the steady state structure of the economy. In such a case monetary policy affects not only the short run misallocations due to nominal rigidities, but also relative prices which stimulate reallocation of capital. We...

Persistent link: https://www.econbiz.de/10013461079

The impacts of credit standards on aggregate fluctuations in a small open economy : the role of monetary policy

Le, Hai - In: Economies : open access journal 9 (2021) 4, pp. 1-26

Empirical evidence demonstrates that credit standards, including lending margins and collateral requirements, move in a countercyclical direction. In this study, we construct a small open economy model with financial frictions to generate the countercyclical movement in credit standards. Our...

Persistent link: https://www.econbiz.de/10012800343

Firm heterogeneity and the transmission of central bank credit policy

Kuhmann, Konrad - 2023

heterogeneous, aggregate investment is substantially less responsive to credit policy compared to an identical firm setting …

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

Should monetary policy lean against the wind in a small-open economy? : revisiting the Tinbergen rule

Peña, Rogelio De la - In: Latin American journal of central banking : LAJCB 2 (2021) 1, pp. 1-24

While conventional monetary policy maintains its role in counteracting inflation, there are doubts that it is sufficient to guard against the risks of financial instability. It has been debated whether monetary policy should lean against the wind, i.e., if central banks should also respond to...

Persistent link: https://www.econbiz.de/10012545868

External shocks and FX intervention policy in emerging economies

Carrasco, Alex; Florián Hoyle, David - 2021

intervention policy successfully reduces credit, investment, and output volatility, along with substantial welfare gains when …

Persistent link: https://www.econbiz.de/10012616248

Effect of fiscal and monetary policy on private investment in Vietnam

Tung Le Thanh - In: Verslas : teorija ir praktika : Vilniaus Gedimino … 23 (2022) 2, pp. 427-434

This paper aims to identify the effect of fiscal and monetary policy on private investment in Vietnam, a transition … relationship between the policy variables and private investment. In the long run, the estimated result shows that the government … expenditure and money supply have positive and significant impacts on private investment, however, the exchange rate has a …

Persistent link: https://www.econbiz.de/10014247021

A post-Kaleckian econometric analysis of interest rates, income distribution, capacity utilization, accumulation and profit rates : the case of Italy

Kurt, Ozan Ekin - In: European journal of economics and economic policies : … 21 (2024) 3, pp. 416-439

The aim of this paper is to analyze the effects of interest rates on rates of capacity utilization, capital accumulation and profit in Italy within a post-Kaleckian theoretical framework. The model employed in the analysis, which was developed by Hein/Schoder (2011), is based on monetary-...

Persistent link: https://www.econbiz.de/10015095355

The Investment Channel of Monetary Policy : evidence from Norway

Cao, Jin; Hegna, Torje; Holm, Martin Blomhoff; … - 2023

We investigate the transmission of monetary policy to investment using Norwegian administrative data. We have two main … that firm heterogeneity plays a minor role in monetary transmission. Second, we disentangle the investment channel of … investment channel of monetary policy is due almost exclusively to direct effects. The two results imply that a representative …

Persistent link: https://www.econbiz.de/10014314082

Factor shares and the rise in corporate net lending

Behringer, Jan - 2020

corporate net lending determinants. We disentangle the effects of the profit share on corporate saving and investment and …

Persistent link: https://www.econbiz.de/10012214310

Is there a link between remittances, capital formation, structural transformation and economic growth? : a dynamic panel analysis for Latin America under the PVAR approach

Zurita Moreano, Eduardo; González Bautista, María Gabriela - In: Economies : open access journal 12 (2024) 5, pp. 1-25

The literature has mainly focused on analyzing the relationship of remittances with economic growth and social welfare, neglecting more complex aspects where remittances can have relevant implications. To contribute to the literature, the objective of this research is to examine the dynamic...

Persistent link: https://www.econbiz.de/10014635990