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Monetary Policy, Investment and Firm Heterogeneity

Ferrando, Annalisa - 2020

firm level investment and high-frequency identified monetary policy shocks. We show that the reaction of firms' investment …

Persistent link: https://www.econbiz.de/10012837618

Macroprudential Policy in a Monetary Union with Cross-Border Banking

Darracq Pariès, Matthieu - 2019

We analyse the interaction between monetary and macroprudential policies in the euro area by means of a two-country DSGE model with financial frictions and cross-border spillover effects. We calibrate the model for the four largest euro area countries (i.e. Germany, France, Italy, and Spain),...

Persistent link: https://www.econbiz.de/10012889411

Monetary Policy and Intangible Investment

Döttling, Robin - 2020

We contrast how monetary policy affects intangible relative to tangible investment. We document that the stock prices … total investment in firms with more intangible assets responds less to monetary policy, and that intangible investment … responds less to monetary policy compared to tangible investment. We identify two mechanisms behind these results. First, firms …

Persistent link: https://www.econbiz.de/10012828075

Macroeconomic Reversal Rate in a Low Interest Rate Environment

End, Jan-Willem van den; Konietschke, Paul; Samarina, Anna - 2021

the impulse responses of investment, savings, consumption, and the output gap to an expansionary monetary policy shock …

Persistent link: https://www.econbiz.de/10013312597

The output composition puzzle: a difference in the monetary transmission mechanism in the euro area and U.S.

Mojon, Benoît; Angeloni, Ignazio; Terlizzese, Daniele; … - 2003

output changes. In the euro area investment is the predominant driver of output changes, while in the U.S. consumption shifts … investment, as the proximate cause for this fact, the source of the consumption difference remains a puzzle. …

Persistent link: https://www.econbiz.de/10011604314

Macroeconomic reversal rate in a low interest rate environment

Van den End, Jan-Willem; Konietschke, Paul; Samarina, Anna - 2021

the impulse responses of investment, savings, consumption, and the output gap to an expansionary monetary policy shock …

Persistent link: https://www.econbiz.de/10012819034

Convex Supply Curves

Boehm, Christoph E. - 2020

We provide evidence that industries' supply curves are convex. To guide our empirical analysis, we develop a model, in which capacity constraints at the plant level generate convex supply curves at the industry level. The industry's capacity utilization rate is a sufficient statistic for the...

Persistent link: https://www.econbiz.de/10012824664

Convex supply curves

Boehm, Christoph E.; Pandalai-Nayar, Nitya - 2020

Persistent link: https://www.econbiz.de/10012422122

Switching-track after the Great Recession

Vinci, Francesca; Licandro, Omar - 2021

We propose a theoretical framework to reconcile episodes of V-shaped and L-shaped recovery, en- compassing the behaviour of the U.S. economy before and after the Great Recession. In a DSGE model with endogenous growth, negative demand shocks destroy productive capacity, moving GDP to a lower...

Persistent link: https://www.econbiz.de/10012661624

The Macroeconomic Effects of International Uncertainty

Crespo Cuaresma, Jesús; Huber, Florian; Onorante, Luca - 2021

This paper proposes a large-scale Bayesian vector autoregression with factor stochastic volatility to investigate the macroeconomic consequences of international uncertainty shocks in G7 countries. The curse of dimensionality is addressed by means of a global-local shrinkage prior that mimics...

Persistent link: https://www.econbiz.de/10013315356