Narrow search
Showing 1 - 10 of 87,961
Cover Image
Asset pricing implications of a New Keynesian model
Paoli, Bianca De; Scott, Alasdair; Weeken, Olaf - Society for Computational Economics - SCE - 2006
neoclassical growth model with nominal and real rigidities. We ask what the implications of this type of model are for asset prices … rigidities raises risk premia and increasing nominal rigidities reduces risk premia. In a world of monetary policy shocks only …, both real and nominal rigidities raise risk premia. The results indicate that the implications of the New Keynesian model …
Persistent link: https://www.econbiz.de/10005132631
Cover Image
Monetary Policy and Asset Price Overshooting: A Rationale for the Wall/Main Street Disconnect
Caballero, Ricardo J.; Simsek, Alp - 2022
We analyze optimal monetary policy and its implications for asset prices, when aggregate demand has inertia and responds to asset prices with a lag. If there is a negative output gap, the central bank optimally overshoots aggregate asset prices (asset prices are initially pushed above their...
Persistent link: https://www.econbiz.de/10013177666
Cover Image
ECB Spillovers and Domestic Monetary Policy Effectiveness in Small Open Economies
ter Ellen, Saskia; Jansen, Edvard; Midthjell, Nina Larsson - 2018
In this paper we study financial spillovers from the European Central Bank's (ECB) monetary policy and communication, and whether they have consequences for the effectiveness of domestic monetary policy of small open economies. Recent work suggests that the "trilemma" in international economics...
Persistent link: https://www.econbiz.de/10012143934
Cover Image
Monetary policy and asset price overshooting: a rationale for the Wall/Main Street disconnect
Caballero, Ricardo J.; Simsek, Alp - 2022
We analyze optimal monetary policy and its implications for asset prices, when aggregate demand has inertia and responds to asset prices with a lag. If there is a negative output gap, the central bank optimally overshoots aggregate asset prices (asset prices are initially pushed above their...
Persistent link: https://www.econbiz.de/10013093040
Cover Image
Liquidity Trap Prevention and Escape: A Simple Proposition
Cai, Junning - EconWPA - 2004
Liquidity traps occur when the natural nominal interest rate becomes negative. In a model with capital price dynamics explicitly considered, we find that shocks in the future can cause current and lasting liquidity traps. We propose that the central bank can prevent or fix liquidity traps by...
Persistent link: https://www.econbiz.de/10005561118
Cover Image
Monetary policy, housing booms and financial (im)balances
Eickmeier, Sandra; Hofmann, Boris - 2010
This paper uses a factor-augmented vector autoregressive model (FAVAR) estimated on U.S. data in order to analyze monetary transmission via private sector balance sheets, credit risk spreads and asset markets in an integrated setup and to explore the role of monetary policy in the three...
Persistent link: https://www.econbiz.de/10010300360
Cover Image
Monetary policy, housing booms and financial (im)balances
Eickmeier, Sandra; Hofmann, Boris - 2010
This paper uses a factor-augmented vector autoregressive model (FAVAR) estimated on U.S. data in order to analyze monetary transmission via private sector balance sheets, credit risk spreads and asset markets in an integrated setup and to explore the role of monetary policy in the three...
Persistent link: https://www.econbiz.de/10011605224
Cover Image
The response of asset prices to monetary policy shocks: stronger than thought
Alessi, Lucia; Kerssenfischer, Mark - 2016
Mainstream macroeconomic theory predicts a rapid response of asset prices to monetary policy shocks, which conventional empirical models are unable to reproduce. We argue that this is due to a deficient information set: Forward-looking economic agents observe vastly more information than the...
Persistent link: https://www.econbiz.de/10011606012
Cover Image
The Quest for Stability: The Macro View
Buiter, Willem H.; Gerlach, Stefan; Kool, Clemens J.M.; … - 2010
On September 3-4, 2009 SUERF and Utrecht University School of Economicsorganized the Colloquium "The Quest for Stability" in Utrecht, the Netherlands. The papers included in this SUERF Study are based on contributions to the Colloquium.
Persistent link: https://www.econbiz.de/10011689943
Cover Image
The macro view
Balling, Morten (ed.); Berk, Jan Marc (ed.);  … - Colloquium The Quest for Stability <2009, Utrecht>; … - 2010
On September 3-4, 2009, SUERF and Utrecht University School of Economics jointly organized the 28th SUERF Colloquium on "The Quest for Stability" in Utrecht, the Netherlands. The papers contained in this SUERF Study jointly published with DNB and Rabobank are based on contributions to this...
Persistent link: https://www.econbiz.de/10011706504