Showing 1 - 10 of 1,011
monetary transmission via private sector balance sheets, credit risk spreads and asset markets in an integrated setup and to …
Persistent link: https://www.econbiz.de/10013038915
This paper assesses the role of the housing market in the transmission of conventional and unconventional monetary … fashion across regions. Although the housing channel plays a minor role in the transmission of monetary policy to the economy … the diverse transmission of monetary policy to economic activity across regions, finding a larger impact in areas with …
Persistent link: https://www.econbiz.de/10014238369
appropriate degree of policy accommodation. The transmission of these measures through the currency union remained highly …-specific macroeconomic transmission of selected non-standard measures from the ECB using a global DSGE model with a rich financial sector: we … rate responses after ECB's Asset Purchase Programme (APP) first announcement. The domestic transmission of the APP through …
Persistent link: https://www.econbiz.de/10012889467
The identification of non-standard monetary policy shocks is a key challenge for econometricians, not least as these measures are somewhat unprecedented in modern central banking history and as the instruments vary widely across the various non-standard measures. This paper focuses on the 3-year...
Persistent link: https://www.econbiz.de/10013088278
control the transmission channel of central bank asset purchases are then adjusted to reproduce the easing of lending …
Persistent link: https://www.econbiz.de/10012988604
-sector heterogeneity. Distinguishing different transmission channels, we find that in particular the transmission via US and foreign short …-term interest rates and the exchange rate play an important role. As to the determinants of the strength of transmission to …, thus linking the strength of asset price transmission to underlying trade and asset holdings, and find that in particular …
Persistent link: https://www.econbiz.de/10011604662
impact of political shocks on the domestic economy of member states but magnified the transmission of political shocks within …
Persistent link: https://www.econbiz.de/10011605002
This paper proposes a framework for monitoring vulnerabilities related to the residential real estate sector in a cross-country context. The framework might be useful for complementing or cross-checking signals available from existing approaches. It takes into account three dimensions of real...
Persistent link: https://www.econbiz.de/10012948367
How does home ownership affect new business creation? We develop a model of career choice in the presence of liquidity constraints in which shocks to the value of real estate affect the propensity of potential entrepreneurs to borrow against the value of their property. Using a large US...
Persistent link: https://www.econbiz.de/10013082537
This paper presents first the estimation of a two-country DSGE model for the euro area and the rest-of-the-world including relevant oil-price channels. We then investigate the optimal resolution of the policy tradeoffs emanating from oil-price disturbances. Our simulations show that the...
Persistent link: https://www.econbiz.de/10014213432