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The stimulative effect of forward guidance

Gavin, William T.; Keen, Benjamin D.; Richter, Alexander W. - 2013

Persistent link: https://www.econbiz.de/10010226699

Flight to what? : dissecting liquidity shortages in the financial crisis

Dong, Feng; Wen, Yi - 2017 - This version: August, 2017

We endogenize the liquidity and the quality of private assets in a tractable incomplete-market model with heterogeneous agents. The model decomposes the convenience yield of government bond into a "liquidity premium" (flight to liquidity) and a "safety premium" (flight to quality) over the...

Persistent link: https://www.econbiz.de/10011780935

The inverted leading indicator property and redistribution effect of the interest rate

Pintus, Patrick A.; Wen, Yi; Xing, Xiaochuan - 2016 - This version: November 23, 2016

Persistent link: https://www.econbiz.de/10011586617

Long and Plosser meet Bewley and Lucas

Dong, Feng; Wen, Yi - 2018

-form solutions up to the aggregate level. Relying on the tractability, we establish several important results: (i) The economy ….g., the impact of money is strongest on downstream sectors that purchase intermediate goods from the rest of the economy, but …

Persistent link: https://www.econbiz.de/10011911508