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The Impact of Monetary Policy on Stock Market Bubbles and Trading Behavior : Evidence from the Lab
Fischbacher, Urs - 2013
This paper investigates the effect of monetary policy on stock market bubbles and trading behavior in experimental … observe a strong impact of our interest rate policy on liquidity in the stock market but only a small impact on bubbles …. However, we find that announcing the possibility of reserve requirements significantly reduces bubbles even when such …
Persistent link: https://www.econbiz.de/10013092749
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Money, Prices, and Bubbles
O'Driscoll, Gerald P. - 2013
Both monetary policy and real factors played crucial causal roles in the housing boom and bust. Monetary policy distorted relative prices, particularly intertemporal prices. Prices play a critical role in allocating resources by signaling the relative scarcity of resources. Prices convey...
Persistent link: https://www.econbiz.de/10013083529
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The relationship between central bank auctions and bill market liquidity
Bats, Joost V.; Hoondert, Jurian J. A. - 2022
This paper investigates the relationship between central bank (reverse) auctions and bill market liquidity. The analysis includes data on the purchases of bills in the auctions by the Dutch Central Bank under the European Central Bank's Pandemic Emergency Purchase Programme (PEPP). The results...
Persistent link: https://www.econbiz.de/10013337422
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The Relationship between Central Bank Auctions and Bill Market Liquidity
Bats, Joost; Hoondert, Jurian J.A - 2022
This paper investigates the relationship between central bank (reverse) auctions and bill market liquidity. The analysis includes data on the purchases of bills in the auctions by the Dutch Central Bank under the European Central Bank’s Pandemic Emergency Purchase Programme (PEPP). The results...
Persistent link: https://www.econbiz.de/10013403023
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Asset Bubbles without Dividends -An Experiment
Oechssler, Jörg; Schmidt, Carsten; Schnedler, Wendelin - Alfred-Weber-Institut für Sozial- und … - 2007
Bubbles in asset markets have been documented in numerous experimentalstudies. However, all experiments in which … bubbles occurpay dividends after each trading day. In this paper we study whetherbubbles can occur in markets without … may have inside information, and (2) theoption to communicate with other traders. We find that bubbles canindeed occur …
Persistent link: https://www.econbiz.de/10005868456
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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
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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
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The Quest for Stability: the macro view
Buiter, Willem Hendrik; Gerlach, Stefan; Kool, Clemens J.M. - SUERF - The European Money and Finance Forum
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/10008544608
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Does Government Insolvency Imply Speculative Attacks?
Miceli, Maria-Augusta - 2016
The aim is to show how and when government insolvency implies a fixed exchange rate regime crisis. To model these issues I try to unify a stylized macroeconomic model with a standard micro agent behavior toward asset pricing. The equilibrium condition between demand and supply of public debt,...
Persistent link: https://www.econbiz.de/10013007557
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The option value of municipal liquidity: evidence from federal lending cutoffs during COVID-19
Haughwout, Andrew; Hijmans, Benjamin L.; Shachar, Or - 2021
We estimate the option value of municipal liquidity by studying bond market activity and public sector hiring decisions when government budgets are severely distressed. Using a regression discontinuity (RD) design, we exploit lending eligibility population cutoffs introduced by the federal...
Persistent link: https://www.econbiz.de/10012660369