Narrow search
Showing 1 - 10 of 46
Cover Image
Bailout Uncertainty in a Microfounded General Equilibrium Model of the Financial System
Cukierman, Alex - 2011
lenders' beliefs about the probability of bailout. Events like Lehman's collapse are conceived of as ”black swan” events that … led lenders to put a positive mass on bailout probabilities that were previously assigned zero mass.Results of the … analysis include: (i) An unanticipated increase in bailout uncertainty raises interest rates, the volume of defaults in both …
Persistent link: https://www.econbiz.de/10013122330
Cover Image
Bailout uncertainty in a microfounded general equilibrium model of the financial system
Cukierman, Alex; Izhakian, Yehuda - In: Journal of banking & finance 52 (2015), pp. 160-179
Persistent link: https://www.econbiz.de/10011377355
Cover Image
The Influence of External Factors on Monetary Policy Frameworks and Operations
Rossini, Renzo - 2014
Economic and financial integration has reshaped the monetary policy frameworks and transmission channels in the emerging market economies (EMEs) over the past two decades. Economic and financial linkages have become stronger, resulting in greater synchronization of business cycles across...
Persistent link: https://www.econbiz.de/10013067067
Cover Image
Bailout Uncertainty in a Microfounded General Equilibrium Model of the Financial System
Cukierman, Alex - 2012
lenders' beliefs about the probability of bailout. Events like Lehman's collapse are conceived of as "black swan" events that … led lenders to put a positive mass on bailout probabilities that were previously assigned zero mass. Results of the … analysis include: (i) An unanticipated increase in bailout uncertainty raises interest rates, the volume of defaults in both …
Persistent link: https://www.econbiz.de/10013113858
Cover Image
Financial Crisis, US Unconventional Monetary Policy and International Spillovers
Chen, Qianying - 2015
We study the impact of US quantitative easing (QE) on both the emerging and advanced economies, estimating a global vector error correction model (GVECM). We focus on the effects of reductions in the US term and corporate spreads. The estimated effects of QE are sizeable and vary across...
Persistent link: https://www.econbiz.de/10013026237
Cover Image
Financial Crisis, US Unconventional Monetary Policy and International Spillovers
Chen, Qianying - 2015
We study the impact of the US quantitative easing (QE) on both the emerging and advanced economies, estimating a global vector error-correction model (GVECM) and conducting counterfactual analyses. We focus on the effects of reductions in the US term and corporate spreads. First, US QE measures...
Persistent link: https://www.econbiz.de/10013022263
Cover Image
Financial Crisis, Unconventional Monetary Policy and International Spillovers
Chen, Qianying - 2014
This paper studies the effects of unconventional monetary policies in the major advanced economies. We first examine the cross-border financial market impact of central bank announcements of asset purchase programmes based on event studies. We find marked effects, as expansionary balance sheet...
Persistent link: https://www.econbiz.de/10013047185
Cover Image
Monetary Analysis and the Global Financial Cycle : An Asian Central Bank Perspective
Filardo, Andrew J. - 2014
EM Asia has seen a transformation of its monetary policy environment over the past 2 decades. By far, the most relevant change has been the maturing of its financial systems and the growing relevance of the global financial cycle: financial inclusion has spread, financial markets have deepened...
Persistent link: https://www.econbiz.de/10013047524
Cover Image
The Reaction Function Channel of Monetary Policy and the Financial Cycle
Filardo, Andrew J. - 2019
This paper examines whether monetary policy reaction function matters for financial stability. We measure how responsive the Federal Reserve's policy appears to be to imbalances in the equity, housing and credit markets. We find that changes in these policy sensitivities predict the later...
Persistent link: https://www.econbiz.de/10012861841