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Persistent link: https://www.econbiz.de/10014429126
-exposure requirement also to eurozone government debt would be a logical measure towards breaking the bank-government doom loop, given the …
Persistent link: https://www.econbiz.de/10013022107
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This paper examines an impact of Bank of Japan (BOJ)'s outright purchase on the JGB (Japanese government bond) yield …
Persistent link: https://www.econbiz.de/10012901164
Persistent link: https://www.econbiz.de/10014583324
and deposit facility rate for bank investments among loans, government securities and cash deposited in central banks. Our … results highlight that unconventional policies represent the driving force for bank credit in times of financial distress as … the standard macroeconomic and bank-specific factors could affect banks’ incentives adversely in such times. We …
Persistent link: https://www.econbiz.de/10014352830
Monetary policy is superneutral in an overlapping generations model. Previous authors have argued that superneutrality does not hold in such a setting. However, the standard results rely on the counter-factual premise of helicopter money and are overturned if money creation through open market...
Persistent link: https://www.econbiz.de/10010483593
Monetary policy is superneutral in an overlapping generations model. Previous authors have argued that superneutrality does not hold in such a setting. However, the standard results rely on the counter-factual premise of helicopter money and are overturned if money creation through open market...
Persistent link: https://www.econbiz.de/10010492458
This paper analyses the effects of an introduction of a retail central bank digital currency (CBDC) on bank … intermediation in a tractable general equilibrium model with heterogeneous bank deposits and an imperfectly competitive loan market …. The agents in the economy have preferences over holding central bank money or bank deposits that are not solely based on …
Persistent link: https://www.econbiz.de/10013256654
This article comprises a tractable two-generations-overlapping, stochastic, neoclassical production economy, where government bonds are in positive net supply. In this framework we show that the entrance of larger (smaller) cohorts into the labor market will lead to an increase (decrease) in the...
Persistent link: https://www.econbiz.de/10013221774