measurement errors has shifted. Surprisingly, we do not find evidence that the size of output gap revisions has decreased over … time; on the contrary, they seem to have increased. But the fraction of measurement errors due to omitted contemporaneous … information has declind. This suggests that while the OECD's accuracy in output gap measurement has failed to improve, its …

hindsight and decreasing measurement errors through time. Our optimal control experiments reveal that monetary policy makers …

In this paper we relate a bank’s choice between retail and wholesale liabilities to real economic uncertainty and the … resulting volatility of bank loan volumes. We argue that since the volume of retail deposits is slow and costly to adjust to … shocks in the volume of bank assets, banks facing more intense uncertainty and more volatile loan demand tend to employ more …

unweighted leverage requirements, their differential impact on bank lending, and equity buffer accumulation in excess of … regulatory minima. Tighter risk-weighted capital requirements reduce loan supply and lead to an endogenous fall in bank … profitability, reducing bank incentives to accumulate equity buffers and, therefore, increasing the incidence of bank failure …

, we show that the economic impact of changes in bank capital requirements depends on the state of the macro …, the impact on bank loan supply works through a ”pricing channel” which is small: around 0.1% less loans for a 1pp increase …

commonly used: central bank liquidity injections and asset swaps. I find that liquidity injections lead to a short run …