Similar Search Results

How to predict financial stress? : an assessment of Markov switching models

Duprey, Thibaut; Klaus, Benjamin - 2017

This paper predicts phases of the financial cycle by using a continuous financial stress measure in a Markov switching framework. The debt service ratio and property market variables signal a transition to a high financial stress regime, while economic sentiment indicators provide signals for a...

Persistent link: https://www.econbiz.de/10011697685

Money in crisis : a review essay

Laidler, David E. W. - In: Journal of monetary economics 17 (1986) 2, pp. 305-313

Persistent link: https://www.econbiz.de/10001025053

Ups and Downs. Central Bank Independence from the Great Inflation to the Great Recession : Theory, Institutions and Empirics

Masciandaro, Donato - 2016

This paper analyzes the pillar of modern central bank governance, i.e. central bank independence, highlighting three contributions. First, we provide a systematic review of the economics of central bank independence. Second, using a principal agent model we design a political economy framework,...

Persistent link: https://www.econbiz.de/10013004944

Was Expansionary Monetary Policy Feasible During the Great Contraction? an Examination of the Gold Standard Constraint

Bordo, Michael D.; Choudhri, Ehsan U.; Schwartz, Anna … - 2021

The recent consensus view, that the gold standard was the leading cause of the worldwide Great Depression 1929-33, stems from two propositions: (1) Under the gold standard, deflationary shocks were transmitted between countries and, (2) for most countries, continued adherence to gold prevented...

Persistent link: https://www.econbiz.de/10013222903

The Monetary Phoenix : Central Bank Independence from the Great Inflation to the Great Recession

Masciandaro, Donato - 2014

This paper analyzes the pillar of the modern central bank governance – independence – offering three contributions. After a systematic review of the economics of central bank independence, a principal agent model is used to design a political economy framework, which explains how the...

Persistent link: https://www.econbiz.de/10013061682

Drivers of Large Recessions and Monetary Policy Responses

Melina, Giovanni; Villa, Stefania - 2023

Shocks to capital utilization are introduced in a structural macroeconomic closed-economy model with financial frictions to capture disruptions on the ability of the capital stock to provide capital services used in production. Estimates for the Euro Area and the United States show that these...

Persistent link: https://www.econbiz.de/10014345602

Are earthquakes needed to shake economics?

Schettkat, Ronald - 2010

–“natural rate theory”- dominated interpretations of economic trends and policy prescriptions since the 1970s. Public policy …. Economic trends were filtered through the lens of the “natural rate theory,” focusing on labor market institutions only and … confronts the economic trends with the interpretations of the “natural rate theory” and argues that they hardly fitting the …

Persistent link: https://www.econbiz.de/10008651698

Monetary policy in economic crisis : a simple model of policy with external fiancial constraints

Devereux, Michael B.; Poon, Doris - In: International economic journal 25 (2011) 4, pp. 683-711

Persistent link: https://www.econbiz.de/10009490317

Monetary policy and asset prices : when cleaning up hits the zero lower bound

Berger, Wolfram; Kißmer, Friedrich - 2014

Persistent link: https://www.econbiz.de/10009759155

Ekonomia

Sokołowski, Jerzy (contributor); … - 2010

Persistent link: https://www.econbiz.de/10008698614