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Christiano, Lawrence J. (contributor); … - 2002 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001676634

Christiano, Lawrence J.; Gust, Christopher; Roldos, Jorge E. - 2021

What are the economic effects of an interest rate cut when an economy is in the midst of a financial crisis? Under what … ffects? We answer these questions in a general class of open economy models, where a financial crisis is modeled as a time … the traded good sector and in adjusting the rate at which that output can be used in other parts of the economy, then a …

Persistent link: https://www.econbiz.de/10013248087

Government Policy, Credit Markets and Economic Activity

Christiano, Lawrence J. - 2011

The US government has recently conducted large scale purchases of assets and implemented policies that reduced the cost of funds to financial institutions. Arguably these policies have helped to correct credit market dysfunctions, allowing interest rate spreads to shrink and output to begin a...

Persistent link: https://www.econbiz.de/10013123690

Pride Goes Before a Fall : Federal Reserve Policy and Asset Markets

Reinhart, Carmen M. - 2011

Considerable debate rages about whether Federal Reserve policy was too lax in the early part of the 2000s, thereby fueling the home-price bubble that was the proximate cause of the global financial crisis. We present evidence that the view that modest alterations to monetary policy have vast...

Persistent link: https://www.econbiz.de/10013129137

The Simple Analytics of Monetary Policy : A Post-Crisis Approach

Friedman, Benjamin M. - 2013

The standard workhorse models of monetary policy now commonly in use, both for teaching macroeconomics to students and for supporting policymaking within many central banks, are incapable of incorporating the most widely accepted accounts of how the 2007-9 financial crisis occurred and incapable...

Persistent link: https://www.econbiz.de/10013083392

Optimal Monetary Policy in a 'Sudden Stop'

Braggion, Fabio - 2010

In the wake of the 1997-98 financial crises, interest rates in Asia were raised immediately, and then reduced sharply. We describe an environment in which this is the optimal monetary policy. The optimality of the immediate rise in the interest rate is an example of the theory of the second...

Persistent link: https://www.econbiz.de/10012759929

Has the Financial Crisis Permanently Changed the Practice of Monetary Policy? Has it Changed the Theory of Monetary Policy?

Friedman, Benjamin M. - 2014

I argue in this paper that one of the two forms of hitherto unconventional monetary policy that many central banks have implemented in response to the 2007 financial crisis - large-scale asset purchases, or to put the matter more generically, use of the central bank's balance sheet as a distinct...

Persistent link: https://www.econbiz.de/10013053846

This Time is Different : A Panoramic View of Eight Centuries of Financial Crises

Reinhart, Carmen M. - 2008

This paper offers a quot;panoramicquot; analysis of the history of financial crises dating from England's fourteenth-century default to the current United States sub-prime financial crisis. Our study is based on a new dataset that spans all regions. It incorporates a number of important credit...

Persistent link: https://www.econbiz.de/10012772366

This Time is Different Chartbook : Country Histories on Debt, Default, and Financial Crises

Reinhart, Carmen M. - 2010

This Chartbook provides a pictorial history, on a country-by-country basis, of public debt and economic crises of various forms. It is a timeline of a country's creditworthiness and financial turmoil. The analysis, narrative, and illustrations in Reinhart and Rogoff (2009), This Time is...

Persistent link: https://www.econbiz.de/10013146940

From Financial Crash to Debt Crisis

Reinhart, Carmen M. - 2010

Newly developed long historical time series on public debt, along with modern data on external debts, allow a deeper analysis of the cycles underlying serial debt and banking crises. The evidence confirms a strong link between banking crises and sovereign default across the economic history of...

Persistent link: https://www.econbiz.de/10013147119