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Targeted but (not) toxic? : TLTRO and financial stability

Barmeier, Marcel - 2025

As TLTRO programs provide a direct incentive to increase lending, investigating the level of prudence applied by banks in making lending decisions is of high relevance. Relying on loan-level data, I evaluate the riskiness of lending by applying estimations in a difference-in-differences setting...

Persistent link: https://www.econbiz.de/10015333726

The new normal: bank lending and negative interest rates in Austria

Barmeier, Marcel - 2022

Evidence on the effects of negative interest rates on bank lending is inconclusive so far. By applying a difference-in-difference estimation using granular loan level data with a large coverage from Austria, I show, contrary to some previous findings, that the introduction of a negative deposit...

Persistent link: https://www.econbiz.de/10013332415

What can CBDC designers learn from asking potential users? : results from a survey of Austrian residents

Abramova, Svetlana; Böhme, Rainer; Elsinger, Helmut; … - 2022

The ongoing initiatives to offer central bank money to consumers in the form of retail central bank digital currency (CBDC) have triggered discussions on its optimal design. So far, the perspective of potential users has not been considered widely. To strengthen this perspective, we survey 2006...

Persistent link: https://www.econbiz.de/10013332396

Inflation targeting in Colombia, 2002 - 2012

Urrutia, Miguel; Hofstetter Gascón, Marcel; Hamann S., … - 2014

crawling peg exchange rate regimes, Colombia adopted a full-fledged inflation-targeting (IT) regime in 1999, with inflation as …

Persistent link: https://www.econbiz.de/10011285649

Considerations on the monetary policy framework of the European Central Bank

Tosato, Andrea Giorgio - 2022

. inflation anchoring properties. This layout is then confronted with the policy framework in use in the euro area prior to the … dis-anchoring of long-term inflation expectations experienced in the euro area since 2013, however, suggests that the … policy framework could benefit from a rebalancing towards a formulation with stronger anchoring properties. The inflation aim …

Persistent link: https://www.econbiz.de/10012802090

Tight money-tight credit : coordination failure in the conduct of monetary and financial policies

Carrillo, Julio A.; Mendoza, Enrique G.; Nuguer, Victoria; … - 2019

inflation and not enough to spreads,and yield larger fluctuations in response to risk shocks. Reaction curves display shifts …

Persistent link: https://www.econbiz.de/10012127412

Can we identify the Fed's preferences?

Chatelain, Jean-Bernard; Ralf, Kirsten - 2017

Using US data, we estimate optimal policy with a probability below one that the Fed reneges on its commitment ("limited credibility") versus discretionary policy where the Fed reneges on its commitment at all periods with a probability equal to one ("zero credibility"). The transmission...

Persistent link: https://www.econbiz.de/10011695111

Hopf bifurcation from new-Keynesian Taylor rule to Ramsey optimal policy

Chatelain, Jean-Bernard; Ralf, Kirsten - 2017

targets (inflation and output gap) are forward-looking variables in the new-Keynesian theory …

Persistent link: https://www.econbiz.de/10011695130

Money, banking and financial markets

Andolfatto, David; Berentsen, Aleksander; Martin, … - 2017

inflation policy and as a lender of last resort. Among other things, the model provides a rationale for nominal deposit …

Persistent link: https://www.econbiz.de/10011780925

Unconventional monetary policy, leverage & default dynamics

Palombo, Edoardo - 2020

The objective of this paper to investigate the effectiveness of credit easing policy in mitigating the economic fallout from a financial recession using a model that can account for the observed default and leverage dynamics during the financial crisis of 2007. A general equilibrium model is...

Persistent link: https://www.econbiz.de/10012243296