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Fiscal multipliers with financial fragmentation risk and interactions with monetary policy
Darracq Pariès, Matthieu; Müller, Georg; … - 2020
We quantify the size of fiscal multipliers under financial fragmentation risk and demonstrate how non-standard monetary policy can support the macroeconomic transmission of fiscal interventions. We employ a DSGE model with financial frictions whereby the interplay of corporate, banks and...
Persistent link: https://www.econbiz.de/10012241104
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The Transmission Channels of Monetary, Macro- and Microprudential Policies and Their Interrelations
Beyer, Andreas - 2017
This paper investigates the interrelations between monetary, macro- and microprudential policies. It first provides an overview of the three policies, starting with their main instruments and objectives. Monetary policy aims at maintaining price stability and promoting balanced economic growth,...
Persistent link: https://www.econbiz.de/10012954331
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Parsing financial fragmentation inthe euro area : a multi-country DSGE perspective
Darracq Pariès, Matthieu; Jacquinot, Pascal; … - 2016
Persistent link: https://www.econbiz.de/10011618209
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On the credit and exchange rate channels of central bank asset purchases in a monetary union
Darracq Pariès, Matthieu; Papadopoulou, Niki - 2019
Through the euro area crisis, financial fragmentation across jurisdictions became a prime concern for the single … the credit intermediation chain is significant and quite heterogenous across the largest euro area countries. The … introduction of global portfolio frictions on euro area government bond holdings by international investors opens up for a larger …
Persistent link: https://www.econbiz.de/10011996730