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Uncertainty Shocks and Monetary Policy Rules in a Small Open Economy

Gupta, Sargam - 2020

Post great financial crisis (GFC) of 2008-2009, there has been a surge in the macroeconomics literature on aggregate uncertainty. Although the recent literature has recognized adverse real effects of global uncertainty shocks in EMEs, the role of monetary policy in mitigating these effects is...

Persistent link: https://www.econbiz.de/10012827002

Coordination failures, bank runs and asset prices

Bucher, Monika; Dietrich, Diemo; Tvede, Mich - 2018

We study efficiency properties of competitive economies in which banks provide liquidity insurance and interact on …

Persistent link: https://www.econbiz.de/10011903708

Liquidity runs

Matta, Rafael; Perotti, Enrico - 2016 - This Draft: October 18, 2016

asset liquidity risk arises even under minimal fundamental risk. To study the role of illiquidity we introduce realistic … not available in a run, asset liquidity risk has a concave effect on run incentives, quite unlike fundamental risk. Runs … are rare when asset liquidity is abundant, become more frequent as it falls and decrease again under very low asset …

Persistent link: https://www.econbiz.de/10011556199

Real interest rates, bank borrowing, and fragility

Ahnert, Toni; Anand, Kartik; König, Philipp Johann - 2022

How do real interest rates affect financial fragility? We study this issue in a model in which bank borrowing is subject to rollover risk. A bank’s optimal borrowing trades off the benefit from investing additional funds into profitable assets with the cost of greater risk of a run by bank...

Persistent link: https://www.econbiz.de/10013460206

Real interest rates, bank borrowing, and fragility

Ahnert, Toni; Anand, Kartik; König, Philipp Johann - 2022

How do real interest rates affect financial fragility? We study this issue in a model in which bank borrowing is subject to rollover risk. A bank's optimal borrowing trades off the benefit from investing additional funds into profitable assets with the cost of greater risk of a run by bank...

Persistent link: https://www.econbiz.de/10013463279

Policy Uncertainty, Lender of Last Resort and the Real Economy

Jasova, Martina; Mendicino, Caterina; Supera, Dominik - 2021

propagates to investment and employment. We exploit a unique policy that reduced uncertainty regarding the availability of future …

Persistent link: https://www.econbiz.de/10013243814

Policy Uncertainty, Lender of Last Resort and the Real Economy

Jasova, Martina - 2020

propagates to investment and employment. We exploit a unique policy that reduced uncertainty regarding the availability of future …

Persistent link: https://www.econbiz.de/10012851836

Frictions in the Interbank Market and Uncertain Liquidity Needs : Implications for Monetary Policy Implementation

Bucher, Monika - 2014

This paper shows that depending on the distribution of banks' uncertain liquidity needs and on how monetary policy is …

Persistent link: https://www.econbiz.de/10013048042

Policy uncertainty, lender of last resort and the real economy

Jasova, Martina; Mendicino, Caterina; Supera, Dominik - 2021

propagates to investment and employment. We exploita unique policy that reduced uncertainty regarding the availability of future …

Persistent link: https://www.econbiz.de/10012426306

Bankruptcy Codes and Risk Sharing of Currency Unions

Wang, Xuan - 2021

Since the Eurozone Crisis of 2010-12, a critical debate on the viability of a currency union has focused on the role of a fiscal union in adjusting for country heterogeneity. However, a fully-fledged fiscal union may not be politically feasible. This paper develops a two-country general...

Persistent link: https://www.econbiz.de/10013246925