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The Evolving Nature of Asset Price Bubbles, Financial Instability and Monetary Policy

Malliaris, A. (Tassos) G. - 2019

This paper links the bursting of the housing asset price bubble around 2007 in the U.S. to the instability that arose in financial markets with the bankruptcy of Lehman Brothers in September 2008, and both of these to the Great Recession and the unconventional monetary policy that followed....

Persistent link: https://www.econbiz.de/10012897514

Communicating financial stability in monetary policy reports : a text-mining experiment in postcommunist countries

Kurowski, Łukasz; Smaga, Paweł - In: Central European Management Journal 32 (2023) 1, pp. 57-75

Purpose Financial stability has become a focal point for central banks since the global financial crisis. However, the optimal mix between monetary and financial stability policies remains unclear. In this study, the "soft" approach to such policy mix was tested - how often monetary policy (in...

Persistent link: https://www.econbiz.de/10014552857

Have Long-term Financial Trends Changed the Transmission of Monetary Policy?

Cournède, Boris - 2008

This paper addresses the question of whether and how long-term financial trends may have modified the transmission mechanism from monetary policy decisions to economic activity. The focus is on longterm changes, abstracting from the disruptions created by the 2007-08 financial turmoil which are...

Persistent link: https://www.econbiz.de/10012446032

Financial Market Developments and Their Implications for Monetary Policy

Settlements, Bank for International - 2013

This volume features eight papers written for the conference quot;Financial market developments and their implications for monetary policyquot;. The event was jointly organised by the BIS Representative Office for Asia and the Pacific and Bank Negara Malaysia in Kuala Lumpur on 13 August 2007....

Persistent link: https://www.econbiz.de/10012753509

Chapter 15. New Methods for Macro-Financial Model Comparison and Policy Analysis

Wieland, V.; Afanasyeva, E.; Kuete, M.; Yoo, J. - In: Handbook of macroeconomics : volume 2, v. 2A-2B SET, (pp. 1241-1319). 2016

The global financial crisis and the ensuing criticism of macroeconomics have inspired researchers to explore new modeling approaches. There are many new models that deliver improved estimates of the transmission of macroeconomic policies and aim to better integrate the financial sector in...

Persistent link: https://www.econbiz.de/10014024276

New methods for macro-financial model comparison and policy analysis

Wieland, Volker; Afanasyeva, Elena; Ngougning, Meguy Kuete - 2016

Persistent link: https://www.econbiz.de/10011527276

Complexity of ECB communication and financial market trading

Hayo, Bernd; Henseler, Kai; Rapp, Marc Steffen - 2019

We examine howthe verbal complexity of ECB communications affectsfi-nancial market trading based on high-frequency data … fromEuropean stock index futures trading. Studying the 34 events between May 2009 and June 2017, during which the ECB Governing … the verbal complexity of introductory statements to the press conferences, we find that more complex communications are …

Persistent link: https://www.econbiz.de/10012039675

Financial markets and ECB monetary policy communication - a second QE surprise

Baumgärtner, Martin - 2022 - Draft: January 25, 2022

This paper shows that a different communication style of the European Central Bank (ECB) affects stock prices … differently. A break in the ECB's communication from 2016 onwards makes it necessary to adjust the identification of monetary …

Persistent link: https://www.econbiz.de/10012803259

Realising central banks' climate ambitions through financial stability mandates

D'Orazio, Paola; Popoyan, Lilit - In: Intereconomics : review of European economic policy 57 (2022) 2, pp. 103-111

This paper discusses how financial stability governance has evolved and how central banks and financial regulators are coping with the threats posed by climate uncertainty, providing an overview of G20 countries' green central banking experiences in the past 20 years. The analysis shows that...

Persistent link: https://www.econbiz.de/10013252684

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