Similar Search Results

Monetary policy after the crisis : a joint publication with the National Bank of Poland

Gnan, Ernest (ed.); Kokoszcynski, Ryszard (ed.); … - Conference Monetary Policy after the Crisis <2011, Warschau>; … - 2011

On 4 March 2011, SUERF – The European Money and Finance Forum and the National Bank of Poland jointly organised a conference on the theme of: "Monetary Policy after the Crisis". Following a call for papers with a large number of submissions, the scientific committee selected 9 papers, which...

Persistent link: https://www.econbiz.de/10011710723

Credit supply in Venezuela : a non-conventional bank lending channel?

Chirinos, Ana María; Pagliacci, Carolina - 2017

This paper evaluates whether fiscal and foreign exchange policy shocks can explain both credit and credit supply in … Venezuela. Empirical evidence suggests that between 65 and 90 percent of credit growth is linked to the buildup of banks …' deposits caused by the monetary effects of fiscal expansions. For these cases, since credit is provided at equal or reduced …

Persistent link: https://www.econbiz.de/10011660860

Smells like fiscal policy? : assessing the potential effectiveness of the ECB's OMT program

Hristov, Nikolay; Hülsewig, Oliver; Siemsen, Thomas; … - 2014

This paper explores the potential effectiveness of the ECBś Outright Monetary Transaction (OMT) program in safeguarding an appropriate monetary policy transmission. Since the program aims at manipulating bank lending rates by conducting sovereign bond purchases on secondary markets, a stable...

Persistent link: https://www.econbiz.de/10010246072

Smells like fiscal policy? : assessing the potential effectiveness of the ECB's OMT program ; conference paper

Hristov, Nikolay; Hülsewig, Oliver; Siemsen, Thomas; … - 2014

This paper explores the potential effectiveness of the ECB s Outright Monetary Transaction (OMT) program in safeguarding an appropriate monetary policy transmission. Since the program aims at manipulating bank lending rates by conducting sovereign bond purchases on secondary markets, a stable...

Persistent link: https://www.econbiz.de/10010480578

The Monetary Transmission Mechanism in the Euro Area : Has It Changed with the EMU? A VAR Approach, with Fiscal Policy and Financial Stress Considerations

Afonso, António - 2014

We study whether the adoption of the Euro and a single monetary policy have brought about a change in the monetary transmission mechanism and between the interactions of monetary policy, fiscal policy and financial stress in the Euro area. We find that the stylized facts of monetary transmission...

Persistent link: https://www.econbiz.de/10013050644

How Loose, How Tight? A Measure of Monetary and Fiscal Stance for the Euro Area

Batini, Nicoletta - 2020

This paper builds a model-based dynamic monetary and fiscal conditions index (DMFCI) and uses it to examine the evolution of the joint stance of monetary and fiscal policies in the euro area (EA) and in its three largest member countries over the period 2007-2018. The index is based on the...

Persistent link: https://www.econbiz.de/10012828229

How Loose, How Tight? A Measure of Monetary and Fiscal Stance for the Euro Area

Batini, Nicoletta; Cantelmo, Alessandro; Melina, Giovanni; … - 2020

This paper builds a model-based dynamic monetary and fiscal conditions index (DMFCI) and uses it to examine the evolution of the joint monetary and fiscal policy stance in the euro area (EA) and its three largest member countries over the period 2007-2018. The index is based on the relative...

Persistent link: https://www.econbiz.de/10014092440

Monetary-fiscal policy relations in the euro area : the impact on the primary balance

Dascher-Preising, Fabienne Lara; Greiner, Alfred - 2022

With this paper, our objective is to empirically study public debt sustainability by estimating a fiscal reaction function where the primary balance relative to GDP is assumed to be a function of the public debt to GDP ratio of the previous year and of other macroeconomic variables. In...

Persistent link: https://www.econbiz.de/10013335018

Monetary-Fiscal Policy Relations in the Euro Area : The Impact on the Primary Balance

Dascher, Fabienne Lara; Greiner, Alfred - 2022

Persistent link: https://www.econbiz.de/10014079343

Designing QE in a Fiscally Sound Monetary Union

Bletzinger, Tilman - 2018

This paper develops a tractable model of a monetary union with a sound fiscal governance structure and shows how in such environment the design of monetary policy above and at the lower bound constraint on short-term interest rates can be linked to well-known findings from the literature dealing...

Persistent link: https://www.econbiz.de/10012917169