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Liquidity Traps, Prudential Policies, and International Spillovers
Bianchi, Javier; Coulibaly, Louphou - National Bureau of Economic Research - 2022
This paper studies the transmission channels of monetary and macroprudential policies in an open economy framework and evaluates the normative implications for international spillovers and global welfare. An analytical decomposition uncovers the prominent role of expenditure switching for...
Persistent link: https://www.econbiz.de/10013210066
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Production, Trade, and Cross-Border Data Flows
Chang, Qing; Cong, Lin William; Liyong, Wang; Zhang, … - National Bureau of Economic Research - 2023
-existing development gaps in data economies on each country's production and international trade. Raw data as byproducts of consumption can …
Persistent link: https://www.econbiz.de/10014322803
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Do Investor Differences Impact Monetary Policy Spillovers to Emerging Markets?
Faia, Ester; Lewis, Karen K.; Zhou, Haonan - National Bureau of Economic Research - 2024
We re-examine monetary policy spillovers to Emerging Market Economies (EME) in the form of capital flow reversals, using sectoral-level securities holdings data for Euro Area investors. In response to a surprise monetary tightening, active investors such as investment funds re-balance their...
Persistent link: https://www.econbiz.de/10015072927
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Life-cycle Forces make Monetary Policy Transmission Wealth-centric
Beaudry, Paul; Cavallino, Paolo; Willems, Tim - National Bureau of Economic Research - 2024
of consumption/saving decisions, thereby enriching the determinants of aggregate demand and affecting the transmission of …
Persistent link: https://www.econbiz.de/10014544789
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Activist Fiscal Policy to Stabilize Economic Activity
Auerbach, Alan J. - 2009
evidence is not as "shovel ready" as one would like. Although consumption and investment clearly respond to tax incentives and …
Persistent link: https://www.econbiz.de/10012463242
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The Impact on Consumption and Saving of Current and Future Fiscal Policies
Carman, Katherine Grace - 2003
alternative fiscal policies on current consumption and saving. Studies to date have examined the response of current consumption … consumption smoothing is actually feasible. ESPlanner's saving and life insurance recommendations generate the smoothest possible … survival-state contingent lifetime consumption path for the household without putting it into debt. Such consumption smoothing …
Persistent link: https://www.econbiz.de/10012468609
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The Households Effects of Government Consumption
Giavazzi, Francesco - 2012
working relatively few (weekly) hours, for instance, suffer from a spending shock of the type we analyzed: their consumption …
Persistent link: https://www.econbiz.de/10012460821
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EMU : Ready, or Not?
Obstfeld, Maurice - 1999
In this paper I focus on two specific hazard areas in the transition from Stage Two to Stage Three of European economic and monetary union (EMU), as well as on some key problems of Stage Three that EMU's monetary and fiscal structures appear ill-prepared to handle. The transitional hazards are...
Persistent link: https://www.econbiz.de/10012471509
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Human Frictions in the Transmission of Economic Policies
D'Acunto, Francesco; Hoang, Daniel; Paloviita, Maritta; … - National Bureau of Economic Research - 2021
monetary and fiscal policies that aim to stimulate consumption and borrowing, even when they are financially unconstrained and …
Persistent link: https://www.econbiz.de/10012629499
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Inflation Past, Present and Future : Fiscal Shocks, Fed Response, and Fiscal Limits
Cochrane, John H. - National Bureau of Economic Research - 2022
Our current inflation stemmed from a fiscal shock. The Fed is slow to react. Why? Will the Fed's slow reaction spur more inflation? I write a simple model that encompasses the Fed's mild projections and its slow reaction, and traditional views that inflation will surge without swift rate rises....
Persistent link: https://www.econbiz.de/10013210124