This paper analyzes the ability of unconventional monetary policies to reduce the spread between the credit and the short-term policy interest rates. We provide a theoretical framework based on the bank-lending channel that incorporates an interbank money market. The proposed model shows that...

This paper presents an overview of the procedures that are involved in prediction with machine learning models with special emphasis on deep learning. We study suitable objective functions for prediction in high-dimensional settings and discuss the role of regularization methods in order to...

This paper proposes an empirical model for analyzing the dynamics of Bitcoin prices. To do this, we consider a vector error correction model over two overlapping periods: 2010-2017 and 2010-2019. Price discovery is achieved through the Gonzalo-Granger permanent-transitory decomposition. The...