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  • Search: subject_exact:"Monetary transmission"
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Year of publication
Subject
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Monetary transmission 7,851 Geldpolitische Transmission 7,794 Geldpolitik 5,543 Monetary policy 5,475 Theorie 2,652 Theory 2,649 USA 1,706 United States 1,706 Schock 1,196 Shock 1,194 EU-Staaten 1,047 EU countries 1,042 Schätzung 1,030 Estimation 1,024 Kreditgeschäft 1,024 Bank lending 1,021 VAR-Modell 957 VAR model 951 Zins 903 Euro area 900 Eurozone 898 Interest rate 898 Financial crisis 781 Finanzkrise 781 Bank 668 Wirkungsanalyse 616 Impact assessment 615 Welt 613 World 613 monetary policy 568 Credit 544 Kredit 530 Zinspolitik 483 Interest rate policy 476 monetary transmission 402 Finanzmarkt 357 Financial market 354 Konjunktur 346 Business cycle 343 Neoclassical synthesis 329
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Online availability
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Free 4,041 Undetermined 1,157
Type of publication
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Book / Working Paper 5,249 Article 3,065 Other 4
Type of publication (narrower categories)
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Graue Literatur 3,063 Non-commercial literature 3,063 Working Paper 2,965 Arbeitspapier 2,901 Article in journal 2,586 Aufsatz in Zeitschrift 2,586 Aufsatz im Buch 430 Book section 430 Hochschulschrift 237 Thesis 183 Collection of articles of several authors 75 Sammelwerk 75 Konferenzschrift 67 Collection of articles written by one author 56 Sammlung 56 Amtsdruckschrift 42 Government document 42 Conference paper 39 Konferenzbeitrag 39 Dissertation u.a. Prüfungsschriften 30 Conference proceedings 26 Aufsatzsammlung 25 Bibliografie enthalten 24 Bibliography included 24 Case study 12 Commentary 12 Fallstudie 12 Kommentar 12 Systematic review 11 Übersichtsarbeit 11 Lehrbuch 4 Rezension 4 Statistics 4 Statistik 4 Textbook 4 Mehrbändiges Werk 3 Multi-volume publication 3 Reprint 3 Article 2 Bericht 2
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Language
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English 7,609 German 241 Undetermined 196 Spanish 105 French 68 Italian 22 Polish 20 Portuguese 16 Czech 11 Russian 9 Croatian 6 Romanian 4 Bulgarian 3 Hungarian 3 Dutch 3 Norwegian 2 Slovenian 2 Turkish 2 Ukrainian 2 Danish 1 Lithuanian 1 Macedonian 1 Slovak 1
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Author
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Peydró, José-Luis 87 Gambacorta, Leonardo 64 Ehrmann, Michael 49 Ongena, Steven 45 Altavilla, Carlo 35 Hofmann, Boris 35 Peersman, Gert 35 Worms, Andreas 35 Hülsewig, Oliver 32 Smets, Frank 31 Fratzscher, Marcel 30 Angeloni, Ignazio 29 Belke, Ansgar 28 Goldberg, Linda S. 27 Kashyap, Anil K. 27 Mojon, Benoît 27 Eickmeier, Sandra 26 Georgiadis, Georgios 26 Vermeulen, Philip 26 Gaiotti, Eugenio 25 Generale, Andrea 25 Scharler, Johann 25 Horváth, Roman 24 Laeven, Luc 24 Šustek, Roman 24 Corsetti, Giancarlo 23 Feldkircher, Martin 23 Mayer, Eric 23 Weber, Michael 23 Égert, Balázs 23 Łyziak, Tomasz 23 Demiralp, Selva 22 Mishkin, Frederic S. 22 Woodford, Michael 22 Boivin, Jean 21 Neuenkirch, Matthias 21 Pisani, Massimiliano 21 Przystupa, Jan 21 Ciccarelli, Matteo 20 Hernando, Ignacio 20
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Institution
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International Monetary Fund (IMF) 192 National Bureau of Economic Research 126 International Monetary Fund 46 Bank für Internationalen Zahlungsausgleich / Währungs- und Wirtschaftsabteilung 13 de Nederlandsche Bank 13 European Central Bank 12 Deutsche Bundesbank 8 European University Institute / Department of Economics 8 Narodna Banka na Republika Makedonija 8 Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München 8 Banca d'Italia 7 Bank of Canada 6 C.E.P.R. Discussion Papers 6 EconWPA 6 Magyar Nemzeti Bank (MNB) 6 Federal Reserve Bank of New York 5 Innocenzo Gasparini Institute for Economic Research <Mailand> 5 SUERF - The European Money and Finance Forum 5 Sonderforschungsbereich Quantifikation und Simulation Ökonomischer Prozesse 5 CESifo 4 Centre for Economic Policy Research 4 Centro di Economia Monetaria e Finanziaria Paolo Baffi 4 Federal Reserve Bank of Kansas City / Research Division 4 Federal Reserve Bank of St. Louis 4 Internationaler Währungsfonds 4 Università commerciale Luigi Bocconi 4 Banco Central do Brasil 3 Basel Committee on Banking Supervision 3 Center for Financial Studies 3 Centre for European Policy Studies 3 Eesti Pank 3 Europäisches Parlament / Policy Department for Economic, Scientific and Quality of Life Policies 3 Eurosystem Monetary Transmission Network 3 Federal Reserve Bank of Cleveland 3 Reserve Bank of New Zealand 3 Rijksuniversiteit Gent / Faculteit Economie en Bedrijfskunde 3 School of Accounting, Economics and Finance <Geelong> 3 Schweizerische Nationalbank (SNB) 3 Suomen Pankki 3 Arbeitsgemeinschaft Deutscher Wirtschaftswissenschaftlicher Forschungsinstitute 2
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Published in...
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IMF Working Papers 159 Working paper series / European Central Bank 156 Working paper / National Bureau of Economic Research, Inc. 139 Discussion paper / Centre for Economic Policy Research 128 NBER working paper series 125 Economic modelling 99 IMF working papers 83 Journal of international money and finance 79 NBER Working Paper 79 Discussion papers / CEPR 71 ECB Working Paper 70 CESifo working papers 67 Journal of monetary economics 66 Staff working paper 60 Journal of banking & finance 58 IMF working paper 56 Working paper series / European Central Bank ; Eurosystem 53 IMF Working Paper 51 Journal of economic dynamics & control 49 Journal of money, credit and banking : JMCB 47 Applied economics 43 Journal of macroeconomics 42 Temi di discussione / Banca d'Italia 42 Working paper 42 Discussion paper / Deutsche Bundesbank 36 European economic review : EER 36 Finance and economics discussion series 36 BIS working papers 34 IMF Staff Country Reports 34 Staff reports / Federal Reserve Bank of New York 34 Working papers / Bank for International Settlements 34 BIS Working Paper 33 Economics letters 33 Temi di discussione del Servizio Studi / Banca d'Italia 30 International journal of central banking : IJCB 29 Empirical economics : a journal of the Institute for Advanced Studies, Vienna, Austria 28 Journal of policy modeling : JPMOD ; a social science forum of world issues 28 Staff working papers / Bank of England 28 Journal of international economics 27 Working papers / Universitat Pompeu Fabra, Department of Economics and Business 27
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Source
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ECONIS (ZBW) 7,833 RePEc 363 EconStor 69 USB Cologne (EcoSocSci) 39 ArchiDok 8 BASE 6
Showing 1 - 50 of 8,318
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A reassessment of monetary policy surprises and high-frequency identification
Bauer, Michael D.; Swanson, Eric T. - 2022
High-frequency changes in interest rates around FOMC announcements are an important tool for identifying the effects of monetary policy on asset prices and the macroeconomy. However, some recent studies have questioned both the exogeneity and the relevance of these monetary policy surprises as...
Persistent link: https://ebtypo.dmz1.zbw/10013166391
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A reassessment of monetary policy surprises and high-frequency identification
Bauer, Michael D.; Swanson, Eric T. - 2022 - Conference draft
High-frequency changes in interest rates around FOMC announcements are an important tool for identifying the effects of monetary policy on asset prices and the macroeconomy. However, some recent studies have questioned both the exogeneity and the relevance of these monetary policy surprises as...
Persistent link: https://ebtypo.dmz1.zbw/10013165885
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Specificities of the monetary transmission mechanism within the Bulgarian currency board framework : the first five years
Pazardjiev, Martin N.; Vasilev, Aleksandar Z. - In: Journal of central banking theory and practice 10 (2021) 2, pp. 57-86
This paper presents an overview of the channels of monetary transmission and their manifestation in Bulgaria - a country in a currency board arrangement - in the first five years after the introduction of the regime. The presence of such a mechanism of transmission requires some form of...
Persistent link: https://ebtypo.dmz1.zbw/10012549199
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Product market structure and monetary policy : evidence from the euro area
Ferrando, Annalisa; McAdam, Peter; Petroulakis, Filippos; … - 2021
Monetary policy aims at affecting corporate borrowing by influencing the marginal costs of firms, but its potency can be conditioned by the degree of market competition. We first identify conditions under which changes in marginal costs may have different effects on credit constraints and output...
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Quantitative easing,safe asset scarcity and bank lending
Tischer, Johannes - 2021
The Eurosystem’s Public Sector Purchase Programme (PSPP) increased the scarcity of safe assets, which caused significant declines and substantial dispersion in European repo rates. However, banks holding these safe assets benefited from this development: First, using the German security...
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Financial market development in Indonesia
Damayanti, Destry; Affandi, Yoga; Sutarto, Indra G.; … - In: Financial market development, monetary policy and …, (pp. 155-161). 2020
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Financial markets in EMEs : what has changed in the last two decades
Centralʹnyj bank Rossijskoj Federacii - In: Financial market development, monetary policy and …, (pp. 255-266). 2020
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Financial markets in EMEs : what has changed in the last two decades?
Mu'assasat an-Naqd al-ʿArabī as-Suʿūdī - In: Financial market development, monetary policy and …, (pp. 267-277). 2020
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Macroeconomic divergences and asymmetric responses within the euro zone
Beker Pucar, Emilija; Glavaški, Olgica - In: Facta Universitatis / Series economics and organization … 17 (2020) 1, pp. 27-41
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Does the liquidity trap exist?
Lhuissier, Stéphane; Mojon, Benoît; Rubio-Ramírez, … - 2020
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Negative interest rates, deposit funding and bank lending
Schelling, Tan; Towbin, Pascal - 2020
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Does the liquidity trap exist?
Lhuissier, Stéphane; Mojon, Benoît; Rubio-Ramírez, … - 2020
The liquidity trap is synonymous with ineffective monetary policy. The common wisdom is that, as the short-term interest rate nears its effective lower bound, monetary policy cannot do much to stimulate the economy. However, central banks have resorted to alternative instruments, such as QE,...
Persistent link: https://ebtypo.dmz1.zbw/10012238300
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Tunisia monetary policy since the Arab Spring : the fall of the exchange rate anchor and rise of inflation targeting
El Hamiani Khatat, Mariam; End, Nicolas; Kolsi, Rym - 2020
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A reassessment of monetary policy surprises and high-frequency identification
Bauer, Michael D.; Swanson, Eric T. - 2022
High-frequency changes in interest rates around FOMC announcements are an important tool for identifying the effects of monetary policy on asset prices and the macroeconomy. However, some recent studies have questioned both the exogeneity and the relevance of these monetary policy surprises as...
Persistent link: https://ebtypo.dmz1.zbw/10013170786
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Non-linearities, state-dependent prices and the transmission mechanism of monetary policy
Ascari, Guido; Haber, Timo - In: The economic journal : the journal of the Royal … 132 (2022) 641, pp. 37-57
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Nonlinear transmission of financial shocks : some new evidence
Forni, Mario; Gambetti, Luca; Maffei-Faccioli, Nicolò; … - 2022
Financial shocks generate a protracted and quantitatively important effect on real economic activity and financial markets only if the shocks are both negative and large. Otherwise, their role is quite modest. Financial shocks have become more important for economic fluctuations after the 2000...
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The financial network channel of monetary policy transmission: an agent-based model
Alexandre, Michel; Lima, Gilberto Tadeu; Riccetti, Luca; … - 2022
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Monetary policy and household loan supply : volume and composition effects
Gyöngyösi, Győző; Ongena, Steven; Schindele, Ibolya - 2022
We study how monetary conditions change the supply by banks of mortgage credit to households. We exploit the widespread presence of foreign currency mortgages in Hungary and study this country's comprehensive credit registry. Changes in monetary conditions not only affect the supply of credit in...
Persistent link: https://ebtypo.dmz1.zbw/10013041131
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A horse race of alternative monetary policy regimes under bounded rationality
Wagner, Joel; Schlanger, Tudor; Zhang, Yang - 2022
We introduce bounded rationality, along the lines of Gabaix (2020), in a canonical New Keynesian model calibrated to match Canadian macroeconomic data since Canada's adoption of inflation targeting. We use the model to provide a quantitative assessment of the macroeconomic impact of flexible...
Persistent link: https://ebtypo.dmz1.zbw/10013161512
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Financial stability considerations for monetary policy : theoretical mechanisms
Ajello, Andrea; Boyarchenko, Nina; Gourio, François; … - 2022
This paper reviews the theoretical literature at the intersection of macroeconomics and finance to draw lessons on the connection between vulnerabilities in the financial system and the macroeconomy, and on how monetary policy affects that connection. This literature finds that financial...
Persistent link: https://ebtypo.dmz1.zbw/10013161877
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Financial stability considerations for monetary policy : empirical evidence and challenges
Boyarchenko, Nina; Favara, Giovanni; Schularick, Moritz - 2022
This paper reviews literature on the empirical relationship between vulnerabilities in the financial system and the macroeconomy, and how monetary policy affects that connection. Financial vulnerabilities build up over time, with both risk appetite and risk taking rising during economic...
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Monetary policy and the run risk of loan funds
Cetorelli, Nicola; La Spada, Gabriele; Santos, João A. C. - 2022
Loan funds are open-end mutual funds holding predominantly corporate leveraged loans. We document empirically that loan funds are significantly more susceptible to run risk than any other category of debt funds, including corporate bond funds. Most importantly, we establish a link between loan...
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The augmented bank balance-sheet channel of monetary policy
Bittner, Christian; Bonfim, Diana; Heider, Florian; … - 2022
This paper studies how banks' balance sheets and funding costs interact in the transmission of monetary-policy rates to banks' credit supply to firms. To do so, we use creditregistry data from Germany and Portugal together with the European Central Bank's policy-rate cuts in mid-2014. The...
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Tracing banks' credit allocation to their funding costs
Duquerroy, Anne; Matray, Adrien; Saidi, Farzad - 2022
We quantify how banks' funding costs affect their lending behavior directly, and indirectly by feeding back to their net worth. For identification, we exploit banks' heterogeneous liability structure and the existence of regulated deposits in France whose rates are set by the government. Using...
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Real exchange rate decompositions
Feunou, Bruno; Fontaine, Jean-Sébastien; Krohn, Ingomar - 2022
We provide a novel daily decomposition of the real exchange rate that exploits a direct link between bond and foreign exchange (FX) markets. Real exchange rate dynamics can be attributed to changes in the expected future level of the exchange rate; cross-country differentials of expected...
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Financial stability considerations for monetary policy : empirical evidence and challenges
Boyarchenko, Nina; Favara, Giovanni; Schularick, Moritz - 2022
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How does monetary policy affect prices of corporate loans?
Kwak, Seung - 2022
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Cross-sectional financial conditions, business cycles and the lending channel
Ferreira, Thiago R. T. - 2022
Persistent link: https://ebtypo.dmz1.zbw/10012939009
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Capital controls, domestic macroprudential policy and the bank lending channel of monetary policy
Fabiani, Andrea; López, Martha; Peydró, José-Luis; … - 2022
Persistent link: https://ebtypo.dmz1.zbw/10012872395
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Idiosyncratic income risk and aggregate fluctuations
Debortoli, Davide; Galí, Jordi - 2022 - Revised: January 2022
Persistent link: https://ebtypo.dmz1.zbw/10012873157
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Firm inattention and the efficacy of monetary policy : a text-based approach
Song, Wenting; Stern, Samuel - 2022 - Last updated: January 11, 2022
This paper provides direct evidence of the importance of firm attention to macro-economic dynamics. We construct a text-based measure of firm attention to macro-economic news and document firm attention that is polarized and countercyclical. Differences in attention lead to asymmetric responses...
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Zombies on the brink: evidence from Japan on the reversal of monetary policy effectiveness
Hong, Gee Hee; Igan, Deniz; Lee, Do - 2022
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The signalling channel of negative interest rates
De Groot, Oliver; Haas, Alexander - 2022 - Current version: January 7, 2022
Negative interest rates remain a controversial policy for central banks. We study a novel signalling channel and ask under what conditions negative rates should exist in an optimal policymaker’s toolkit. We prove two necessary conditions for the optimality of negative rates: a time-consistent...
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Monetary policy transmission, the labour share and HANK models
Lenney, Jamie - 2022
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Regional economic structure and heterogeneous effects of monetary policy : evidence from Indonesian provinces
Aginta, Harry; Someya, Masakazu - In: Journal of economic structures : JES; the official … 11 (2022), pp. 1-25
We analyze how regional economic structures affect the impact of monetary policy on rates of inflation across 34 Indonesian provinces. The paper first applies structural factor augmented vector autoregressive model (SFAVAR) to all the 34 provinces based on monthly provincial data in order to...
Persistent link: https://ebtypo.dmz1.zbw/10012804015
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International transmission of conventional and unconventional monetary policy and financial stress shocks from the euro area to Russia
Dajčman, Silvo; Kavkler, Alenka; Merzlyakov, Sergey; … - In: Journal of central banking theory and practice 11 (2022) 1, pp. 227-247
This paper studies the international transmission of the euro area's monetary policy and financial stress to Russia. The results show that financial stress in the euro area damages Russian economic activity and stock prices, but not its trade balance. The contractionary euro area monetary policy...
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Bank risk-taking and impaired monetary policy transmission
Koenig, Philipp J.; Schliephake, Eva - 2022
We consider a standard banking model with agency frictions to simultaneously study the weakening and reversal of monetary transmission and banks' risk-taking in a low-interest environment. Both, weaker monetary transmission and higher risk-taking arise because lower policy rates impair banks'...
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Persistent link: https://ebtypo.dmz1.zbw/10012815047
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What problem is post-crisis QE trying to solve?
Atkinson, Paul E.; Blundell-Wignall, Adrian - In: Journal of risk and financial management : JRFM 15 (2022) 2, pp. 1-17
What problem the Fed and other central banks are solving by printing money and letting interest rates fall to zero is the focus of this paper. This activity does not appear to affect nominal GDP or inflation prior to COVID, and yet central bank liabilities have continued to rise. This suggests...
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Heterogeneity and monetary policy : a thematic review
Alves, Felipe; Bustamante, Christian; Guo, Xing; … - 2022
The heterogeneity of businesses and households impacts aggregate economic fluctuations and, in turn, is shaped by aggregate fluctuations. This view has emerged over the last decade with strong implications for the transmission and conduct of monetary policy. Our thematic review focuses on key...
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The spillover of euro area shocks to the Maltese economy
Gatt, William; Ruisi, Germano - 2022
This paper develops a two-block Structural Vector Autoregression (SVAR) to estimate the spillover of external shocks to the Maltese economy. The model focuses on five broad macroeconomic shocks hitting the euro area; an aggregate demand shock, two aggregate supply shocks which respectively proxy...
Persistent link: https://ebtypo.dmz1.zbw/10012818649
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Financial stability considerations for monetary policy : theoretical mechanisms
Ajello, Andrea; Boyarchenko, Nina; Gourio, François; … - 2022
This paper reviews the theoretical literature at the intersection of macroeconomics and finance to draw lessons on the connection between vulnerabilities in the financial system and the macroeconomy, and on how monetary policy affects that connection. This literature finds that financial...
Persistent link: https://ebtypo.dmz1.zbw/10012819348
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Uncertainty shocks and the monetary-macroprudential policy mix
Nalban, Valeriu; Smadu, Andra - 2022
Persistent link: https://ebtypo.dmz1.zbw/10012820010
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Capital controls, domestic macroprudential policy and the bank lending channel of monetary policy
Fabiani, Andrea; López, Martha; Peydró, José-Luis; … - 2022 - This draft is from August 2021
Persistent link: https://ebtypo.dmz1.zbw/10012820740
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Money markets and bank lending : evidence from the adoption of tiering
Altavilla, Carlo; Boucinha, Miguel; Burlon, Lorenzo; … - 2022
Exploiting the introduction of the ECB's tiering system for remunerating excess reserve holdings, we document the importance of access to the money market for bank lending. We show that the two-tier system produced positive wealth effects for banks with excess reserves and encouraged a...
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Persistent link: https://ebtypo.dmz1.zbw/10012822190
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Asymmetric effects of monetary policy in the Euro Area
Horst, Maximilian - 2022
Persistent link: https://ebtypo.dmz1.zbw/10013186541
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Currency demand at negative policy rates
Rainone, Edoardo - 2022
Persistent link: https://ebtypo.dmz1.zbw/10013192022
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The narrow channel of quantitative easing : evidence from YCC down under
Lucca, David O.; Wright, Jonathan H. - 2022
We study the recent Australian experience with yield curve control (YCC) of government bonds as perhaps the best evidence of how this policy might work in other developed economies. We interpret the evidence with a simple model in which YCC affects prices of both government and other bonds via...
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Sovereign stress, banking stress, and the monetary transmission mechanism in the euro area
Holtemöller, Oliver; Scherer, Jan-Christopher - 2022 - This version: May 2022
In this paper, we investigate to what extent sovereign stress and banking stress have contributed to the increase in the level and in the heterogeneity of non-financial firms’ refinancing costs in the Euro area during the European debt crisis and how they did affect the monetary transmission...
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Household heterogeneity and the performance of monetary policy frameworks
Djeutem, Edouard; He, Mario; Reza, Abeer; Zhang, Yang - 2022 - Last updated: March 8, 2022
We compare the performance of alternative monetary policy frameworks (inflation targeting, average inflation targeting, price level targeting and nominal GDP level targeting) in a tractable HANK model where incomplete financial markets and idiosyncratic earnings risk introduce precautionary...
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Revisiting the monetary transmission nechanism through an industry-level differential approach
Choi, Sangyup; Willems, Tim; Yoo, Seung Yong - 2022
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