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Phases of global liquidity, fundamentals news, and the design of macroprudential policy

Bianchi, Javier; Mendoza, Enrique G. - 2015

Persistent link: https://www.econbiz.de/10011300764

Liquidity provision as a monetary policy tool : the ECB's non-standard measures after the financial crisis

Quint, Dominic; Tristani, Oreste - 2017

area. In a structural VAR, we identify a liquidity shock rooted in the interbank market and use its impulse response … Gertler and Kiyotaki (2010). We highlight two main results. First, an identi.ed liquidity shock causes a sizable and … in 2008.09. Second, the liquidity injected in the market by the ECB played an important role in attenuating the …

Persistent link: https://www.econbiz.de/10011754899

Liquidity provision as a monetary policy tool : the ECB's non-standard measures after the financial crisis

Quint, Dominic; Tristani, Oreste - 2017

area. In a structural VAR, we identify a liquidity shock rooted in the interbank market and use its impulse response … Gertler and Kiyotaki (2010). We highlight two main results. First, an identified liquidity shock causes a sizable and … in 2008–09. Second, the liquidity injected in the market by the ECB played an important role in attenuating the …

Persistent link: https://www.econbiz.de/10011764878

Monetary policy and the financing of firms

De Fiore, Fiorella; Teles, Pedro; Tristani, Oreste - 2009

Persistent link: https://www.econbiz.de/10003879823

Monetary policy and the financing of firms

De Fiore, Fiorella; Teles, Pedro; Tristani, Oreste - 2009

How should monetary policy respond to changes in financial conditions? In this paper we consider a simple model where firms are subject to idiosyncratic shocks which may force them to default on their debt. Firms’ assets and liabilities are denominated in nominal terms and predetermined when...