Similar Search Results

Macroprudential policy measures: Macroeconomic impact and interaction with monetary policy

Cozzi, Guido; Darracq Pariès, Matthieu; Karadi, Peter; … - 2020

This paper examines the interactions of macroprudential and monetary policies. We find, using a range of macroeconomic models used at the European Central Bank, that in the long run, a 1% bank capital requirement increase has a small impact on GDP. In the short run, GDP declines by 0.15-0.35%....

Persistent link: https://www.econbiz.de/10012422038

Monetary policy and bank stability: The analytical toolbox reviewed

Albertazzi, Ugo; Barbiero, Francesca; Marqués … - 2020

The response of major central banks to the global financial crisis has revived the debate around the interactions between monetary policy (MP) and bank stability. This technical paper sheds light, quantitatively, on the different mechanisms underlying the relationship between MP and bank...

Persistent link: https://www.econbiz.de/10012422039

Macroprudential Policy Measures : Macroeconomic Impact and Interaction with Monetary Policy

Cozzi, Guido - 2020

Persistent link: https://www.econbiz.de/10012841083

Monetary Policy and Bank Stability : The Analytical Toolbox Reviewed

Albertazzi, Ugo - 2020

Persistent link: https://www.econbiz.de/10012841099

Robustifying learnability

Tetlow, Robert J.; von zur Muehlen, Peter - 2006

In recent years, the learnability of rational expectations equilibria (REE) and determinacy of economic structures have … certain features of monetary policy rules that facilitate learning. However a treatment of policy design for learnability in … assure the learnability of the model. Our test case is the standard New Keynesian business cycle model. For different …

Persistent link: https://www.econbiz.de/10011604639

Monetary policy transmission in segmented markets

Eisenschmidt, Jens; Ma, Yiming; Zhang, Anthony Lee - 2022

We show that dealer market power impedes the pass-through of monetary policy in repo markets, which is an important first stage of monetary policy transmission. In the European repo market, most participants do not have access to trade on centralized exchanges. Rather, they rely on OTC...

Persistent link: https://www.econbiz.de/10014278444

Tell me something I don't already know: Learning in low and high-inflation settings

Weber, Michael; Candia, Bernardo; Afrouzi, Hassan; … - 2024

Using randomized control trials (RCTs) applied over time in different countries, we study whether the economic environment affects how agents learn from new information. We show that as inflation rose in advanced economies, both households and firms became more attentive and informed about...

Persistent link: https://www.econbiz.de/10014543627

On the credit and exchange rate channels of central bank asset purchases in a monetary union

Darracq Pariès, Matthieu; Papadopoulou, Niki - 2019

Through the euro area crisis, financial fragmentation across jurisdictions became a prime concern for the single monetary policy. The ECB broadened the scope of its instruments and enacted a series of non-standard measures to engineer an appropriate degree of policy accommodation. The...

Persistent link: https://www.econbiz.de/10012142103

Banks, low interest rates, and monetary policy transmission

Wang, Olivier - 2020

This paper studies how low interest rates weaken the short-run transmission of monetary policy and contract the long-run supply of bank credit. As U.S. bond rates have fallen, the pass-through of monetary shocks to loan and deposit rates has weakened while the spread on U.S. bank loans has...

Persistent link: https://www.econbiz.de/10012422154

Product market structure and monetary policy: Evidence from the euro area

Ferrando, Annalisa; McAdam, Peter; Petroulakis, Filippos; … - 2021

Monetary policy aims at affecting corporate borrowing by influencing the marginal costs of firms, but its potency can be conditioned by the degree of market competition. We first identify conditions under which changes in marginal costs may have different effects on credit constraints and output...

Persistent link: https://www.econbiz.de/10012819046