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Climate Change Mitigation : How Effective is Green Quantitative Easing?

Abiry, Raphael; Ferdinandusse, M.; Ludwig, Alexander; … - 2022

We develop a two-sector incomplete markets integrated assessment model to analyze the effectiveness of green quantitative easing (QE) in complementing fiscal policies for climate change mitigation. We model green QE through an outstanding stock of private assets held by a monetary authority and...

Persistent link: https://www.econbiz.de/10014078974

Whatever it Takes to Save the Planet? Central Banks and Unconventional Green Policy

Ferrari, Alessandro; Nispi Landi, Valerio - 2021

We study the effects of a temporary Green QE, defined as a policy that temporarily tilts the central bank’s balance sheet toward green bonds, i.e. bonds issued by firms in non-polluting sectors. To this purpose, we merge a standard DSGE framework with an environmental model. In our model,...

Persistent link: https://www.econbiz.de/10013314815

The Effect of G20 Summits on Global Financial Markets

Lo Duca, Marco - 2014

In the wake of the global financial crisis, the G20 has become the most important forum of global governance and cooperation, largely replacing the once powerful G7. In this paper we run an event study to test whether G20 meetings at ministerial and Leaders level have had an impact on global...

Persistent link: https://www.econbiz.de/10013058549

Once Bitten : New Evidence on the Link between IMF Conditionality and IMF Stigma

Andone, Irina - 2019

While the consequences and effectiveness of IMF conditionality have long been the focus of research, the possible negative impact of IMF conditionality on countries' willingness to ask for an IMF programme – often termed ‘IMF stigma' – has recently received attention particularly from...

Persistent link: https://www.econbiz.de/10012872312

Environmental Regulation and Productivity Growth in the Euro Area : Testing the Porter Hypothesis

Benatti, Nicola; Groiss, Martin; Kelly, Petra; … - 2023

This paper analyses the impact of changes in environmental regulations on productivity growth at country- and firm-level. We exploit several data sources and the environmen-tal policy stringency index, to evaluate the Porter hypothesis, according to which firms’ productivity can benefit from...

Persistent link: https://www.econbiz.de/10014356434

Once bitten: New evidence on the link between IMF conditionality and IMF stigma

Andone, Irina; Scheubel, Beatrice - 2019

While the consequences and effectiveness of IMF conditionality have long been the focus of research, the possible negative impact of IMF conditionality on countries' willingness to ask for an IMF programme - often termed "IMF stigma" - has recently received attention particularly from policy...

Persistent link: https://www.econbiz.de/10012142106

The effect of G20 summits on global financial markets

Lo Duca, Marco; Stracca, Livio - 2014

Persistent link: https://www.econbiz.de/10011605713

Downward Wage Rigidity in Hungary

Kátay, Gábor - 2011

estimates of downward real and nominal wage rigidity for Hungary. Results suggest that nominal rigidity is more prominent in … Hungary than real rigidity. When compared to other countries participating in the IWFP, Hungary ranks among the countries with … the lowest degree of downward real rigidity. The estimated downward nominal rigidity for Hungary is higher, the measure is …

Persistent link: https://www.econbiz.de/10013121445

Potential Output in DSGE Models

Vetlov, Igor - 2011

In view of the increasing use of Dynamic Stochastic General Equilibrium (DSGE) models in the macroeconomic projections and the policy process, this paper examines, both conceptually and empirically, alternative notions of potential output within DSGE models. Furthermore, it provides historical...

Persistent link: https://www.econbiz.de/10013124588

The Anatomy of Consumption in a Household Foreign Currency Debt Crisis

Gyöngyösi, Győző; Rariga, Judit; Verner, Emil - 2022

currency household debt during a large depreciation in Hungary. Relative to similar local currency debtors, foreign currency …

Persistent link: https://www.econbiz.de/10014239455