Similar Search Results

The effects of quasi-random monetary experiments

Jordà, Òscar - 2017

The trilemma of international finance explains why interest rates in countries that fix their exchange rates and allow unfettered cross-border capital flows are largely outside the monetary authority's control. Using historical panel-data since 1870 and using the trilemma mechanism to construct...

Persistent link: https://www.econbiz.de/10012455606

Granger-Causality and Stabilization Policy

Buiter, Willem H. - 1981

This paper aims to provide a stochastic, rational expectations extension of Tobin's "Money and Income; Post Hoc Ergo Proper Hoc?". It is well-known that money may Granger-cause real variables even though the joint density function of the real variables is invariant under changes in the...

Persistent link: https://www.econbiz.de/10012478485

Decomposing the Fiscal Multiplier

Cloyne, James S. - 2020

The fiscal "multiplier" measures how many additional dollars of output are gained or lost for each dollar of fiscal stimulus or contraction. In practice, the multiplier at any point in time depends on the monetary policy response and existing conditions in the economy. Using the IMF fiscal...

Persistent link: https://www.econbiz.de/10012481896

Loose Monetary Policy and Financial Instability

Grimm, Maximilian; Jordà, Òscar; Schularick, Moritz; … - National Bureau of Economic Research - 2023

Do periods of persistently loose monetary policy increase financial fragility and the likelihood of a financial crisis? This is a central question for policymakers, yet the literature does not provide systematic empirical evidence about this link at the aggregate level. In this paper we fill...

Persistent link: https://www.econbiz.de/10014226155

U.S. Liquid Government Liabilities and Emerging Market Capital Flows

Lee, Soyean; Engel, Charles - National Bureau of Economic Research - 2024

Empirical work finds that flows of investments from the U.S. and other high income countries to emerging markets increase during times of quantitative easing by the U.S. Federal Reserve, and the reverse movement occurs under quantitative tightening. We offer new evidence to confirm these...

Persistent link: https://www.econbiz.de/10014576601

Bank Market Power and Monetary Policy Transmission : Evidence from a Structural Estimation

Wang, Yifei - 2020

We quantify the impact of bank market power on monetary policy transmission through banks to borrowers. We estimate a …-through of these costs to borrowers and depositors, while facing capital and reserve regulation. We find that bank market power … explains much of the transmission of monetary policy to borrowers, with an effect comparable to that of bank capital regulation …

Persistent link: https://www.econbiz.de/10012481840

Financial Dampening

Wieland, Johannes F. - 2016

monetary policy. The theory unifies an endogenous supply of illiquid local loans and risk-sharing among subsidiaries of bank …

Persistent link: https://www.econbiz.de/10012456534

Monetary policy rules : [papers based on the National Bureau of Economic Research Conference on Research in Business Cycles, held at Stanford University, 1998]

Taylor, John B. (ed.) - 2001 - Paperback ed.

Persistent link: https://www.econbiz.de/10001535296

Monetary policy rules

Taylor, John B. (ed.) - 1999

Persistent link: https://www.econbiz.de/10001353848

Does Inflation Targeting Increase Output Volatility? An International Comparison of Policymakers' Preferences and Outcomes

Cecchetti, Stephen G. - 1999

Aggregate shocks that move output and inflation in opposite directions create a tradeoff between output and inflation variability, forcing central bankers to make a choice. Differences in the degree of accommodation of shocks lead to disparate variability outcomes, revealing national central...

Persistent link: https://www.econbiz.de/10012471355

1
2
3
4
5
6
7
8
9
10
Next
Last