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The unintended consequences of the debt: Will increased government expenditure hurt the economy?

Werner, Richard A. - 2011

credit view literature. The model postulates complete quantity crowding out. It is subjected to empirical tests, which were …

Persistent link: https://www.econbiz.de/10010308564

CBDC next-level: A new architecture for financial "super-stability"

Bossone, Biagio; Haines, Michael R. - 2023

Fractional reserve regimes generate fragile banking, and full reserve regimes (e.g., narrow banking) remove fragility at the cost of suppressing the role of banks as lenders. A Central Bank Digital Currency (CBDC) could provide safe money, but at the cost of potentially disrupting bank lending....

Persistent link: https://www.econbiz.de/10014474488

International Monetary Transmission with Bank Heterogeneity and Default Risk

Tsenova, Tsvetomira - 2013

This paper compares the effectiveness, efficiency and robustness of standard and non-standard monetary policy tools, such as the banks' refinancing interest rate, penalty interest rate on deposit facility holdings and minimum reserve requirements on attracted deposits. The assessment is...

Persistent link: https://www.econbiz.de/10011345518

Trade Credit and the Bank Lending Channel

Nilsen, Jeffrey H. - 1999

firms accelerate, loan growth. We find that small firms increase trade credit, a substitute credit, indicating a strong loan …-desirable alternative. Using trade credit is propitious since unlike commercial paper (investigated by previous researchers), it is widely … used by the small firms suffering the loan decline. Surprisingly, we also find large firms increase trade credit, a puzzle …

Persistent link: https://www.econbiz.de/10011430008

A framework for understanding inflation - with or without money

Bengtsson, Ingemar - 2005

This paper presents a model that pictures how inflation is determined in a decentralized market process where prices are set in both simultaneous and sequential contracts. Price setting is seen as a coordination game between the price setters of sequential contracts. An important property of the...

Persistent link: https://www.econbiz.de/10013208483

Economic policy in India: For economic stimulus, or for austerity and volatility?

Sen, Sunanda; DasGupta, Zico - 2014

The implementation of economic reforms under new economic policies in India was associated with a paradigmatic shift in monetary and fiscal policy. While monetary policies were solely aimed at "price stability" in the neoliberal regime, fiscal policies were characterized by the objective of...

Persistent link: https://www.econbiz.de/10010513081

Reactions of stock market to monetary policy shocks during the global financial crisis: The Nigerian case

Aliyu, Shehu U. R. - In: CBN Journal of Applied Statistics 03 (2012) 1, pp. 17-41

This paper seeks to assess the reactions of Nigeria's stock market to monetary policy innovations during the period of global financial crisis on the basis of monthly data over the period January, 2007 to August, 2011. In particular, stock market return was regressed against major monetary...

Persistent link: https://www.econbiz.de/10011482568

Uncertainty shocks and financial crisis indicators

Hristov, Nikolay; Roth, Markus - 2019

The current paper broadens the understanding for the role of uncertainty in the context of a macroeconomic environment. It focuses on the implications of uncertainty shocks on indicators that tend to precede financial crises. In an empirical analysis we show for a set of four euro area countries...

Persistent link: https://www.econbiz.de/10012105935

Financial instability and economic activity

Fortin, Ines; Hlouskova, Jaroslava; Sögner, Leopold - 2021

We estimate new indices measuring financial and economic (in)stability in Austria and in the euro area. Instead of estimating the level of (in)stability in a financial or economic system we measure the degree of predictability of (in)stability, where our methodological approach is based on the...

Persistent link: https://www.econbiz.de/10012795748

Coordinating monetary and financial regulatory policies

Van der Ghote, Alejandro - 2018

How to conduct macro-prudential regulation? How to coordinate monetary policy and macro-prudential policy? To address these questions, I develop a continuous-time New Keynesian economy in which a financial intermediary sector is subject to a leverage constraint. Coordination between monetary and...

Persistent link: https://www.econbiz.de/10011916859

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