Similar Search Results

Reynard, Samuel; Schabert, Andreas - Tinbergen Instituut - 2009

conditions, i.e. the varying liquidity value ofeligible assets and the associated risk. This induces a liquiditypremium, which …

Persistent link: https://www.econbiz.de/10011256586

Maturity shortening and market failure

Thierfelder, Felix - Deutsche Bundesbank - 2012

Motivated by the financial crisis of 2007-2009 several papers have provided explanations for why liquidity may dry up … during market stress. This paper also looks at this issue but focuses on the question as to why the liquidity crunch was not … need to provide longer-term liquidity. The paper asks what market failure central banks were addressing by intervening and …

Persistent link: https://www.econbiz.de/10010957159

Maturity shortening and market failure

Thierfelder, Felix - Deutsche Bundesbank - 2012

Persistent link: https://www.econbiz.de/10010535438

Inflation, deflation, and uncertainty: What drives euro area option-implied inflation expectations and are they still anchored in the sovereign debt crisis?

Scharnagl, Michael; Stapf, Jelena - Deutsche Bundesbank - 2014

We tackle two questions in this paper: In the sovereign debt crisis, what moves the euro area inflation outlook and has the firm anchoring of medium to long-term inflation expectations been touched? Deriving densities from a new data set on options on the euro area harmonized index of consumer...

Persistent link: https://www.econbiz.de/10010957128

When is Quantitative Easing effective?

Hoermann, Markus; Schabert, Andreas - Tinbergen Instituut - 2011

, this set-up gives rise to an (il-)liquidity premium on non-eligible assets. Then, a quantitative easing policy, which …

Persistent link: https://www.econbiz.de/10011255917

The Effects of Learning in Interactive Monetary Policy Committees

Berk, Jan Marc; Bierut, Beata K. - Tinbergen Instituut - 2004

We develop a theoretical framework for studying the effects of interaction on the quaJity of decision-making by monetary policy committees. We show that interaction, i.e. increasing one's expertise through an exchange of views, is most likely not to result in interdependent voting...

Persistent link: https://www.econbiz.de/10011256224

Monetary and fiscal policy interactions in a New Keynesian model with capital accumulation and non-Ricardian consumers

Leith, Campbell; von Thadden, Leopold - Deutsche Bundesbank - 2006

This paper develops a small New Keynesian model with capital accumulation and government debt dynamics. The paper discusses the design of simple monetary and fiscal policy rules consistent with determinate equilibrium dynamics in the absence of Ricardian equivalence. Under this assumption,...

Persistent link: https://www.econbiz.de/10005083241

Monetary and fiscal seignorage: Theory and evidence

Klein, Martin - University of Bonn, Germany

Persistent link: https://www.econbiz.de/10005028435

Seignorage,base money regimes and central bank behavior

Klein, Martin - University of Bonn, Germany

Persistent link: https://www.econbiz.de/10005028505

Monetary policy and stock market volatility

Bleich, Dirk; Fendel, Ralf; Rülke, Jan-Christoph - Deutsche Bundesbank - 2013

We estimate forward-looking interest rate reaction functions in the spirit of Taylor (1993) for four major central banks augmented by implicit volatilities of stock market indices to proxy financial market stress. Our results suggest that the Bank of England, the Federal Reserve Bank and the...

Persistent link: https://www.econbiz.de/10010984714