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Financial stability policies and bank lending : quasi-experimental evidence from Federal Reserve interventions in 1920-21
Rieder, Kilian - 2020
I estimate the comparative causal effects of monetary policy "leaning against the wind" (LAW) and macroprudential policy on bank-level lending and leverage by drawing on a single natural experiment. In 1920, when U.S. monetary policy was still decentralized, four Federal Reserve Banks...
Persistent link: https://www.econbiz.de/10012318753
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Who did it?: a European detective story : was it real, financial, monetary and/or institutional : tracking growth in the euro area with an atheoretical tool
Comunale, Mariarosaria; Mongelli, Francesco Paolo - 2019
Persistent link: https://www.econbiz.de/10012155380
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Great recession, slow recovery and muted fiscal policies in the US
Albonico, Alice; Tirelli, Patrizio; Paccagnini, Alessia - 2016
This paper reconsiders the role of macroeconomic shocks and policies in determining the Great Recession and the subsequent recovery in the US. The Great Recession was mainly caused by a large demand shock and by the ZLB on the interest rate policy. In contrast with previous findings, the...
Persistent link: https://www.econbiz.de/10011434680
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In search of the Euro area fiscal stance
Albonico, Alice; Tirelli, Patrizio; Paccagnini, Alessia - 2016
the assumption of non-separability between public and private consumption, obtain a large public consumption multiplier, a … small fraction of non-Ricardian households and, consequently, a relatively small multiplier for public transfers. We provide …
Persistent link: https://www.econbiz.de/10011529025
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Overborrowing and balance of payments imbalances in a monetary union
Sy, Mouhamadou Mounirou - 2015
Persistent link: https://www.econbiz.de/10011540537
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Leaning against persistent financial cycles with occasional crises
Kockerols, Thore; Kravik, Erling Motzfeldt; Mimir, Yasin - 2023
Persistent link: https://www.econbiz.de/10014311239
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The role of systemic risk spillovers in the transmission of Euro area monetary policy
Skouralis, Alexandros - 2021
This paper empirically investigates the transmission of systemic risk across the Euro Area by employing a Global VAR model. We find that a union aggregate systemic risk shock results in a sharp decline in output, with two thirds of the response to be attributed to cross-country spillovers. The...
Persistent link: https://www.econbiz.de/10012704731
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Euro area monetary communications: excess sensitivity and perception shocks
Jouvanceau, Valentin; Mikaliūnaitė, Ieva - 2020
Persistent link: https://www.econbiz.de/10012416822
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The asymmetric effect of monetary policy on European financial markets
Suurlaht, Anita - 2021
Persistent link: https://www.econbiz.de/10012493270