Similar Search Results

Credit supply - Identifying balance-sheet channels with loan applications and granted loans

Jiménez, Gabriel; Ongena, Steven; Peydró, José-Luis; … - European Central Bank - 2010

reduce loan granting, especially to firms or from banks with lower capital or liquidity ratios. Moreover, responding to …

Persistent link: https://www.econbiz.de/10008565827

Active monetary policy, passive fiscal policy and the value of public debt: some further monetarist arithmetic

von Thadden, Leopold - Deutsche Bundesbank - 2003

?aktiven? Geldpolitik und einer ?passiven? Fiskalpolitik. Insbesondere wird davon ausgegangen, dass der Fiskalagent die …

Persistent link: https://www.econbiz.de/10005083165

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 policy rules in a model with capital accumulation and potentially non-superneutral money

von Thadden, Leopold - Deutsche Bundesbank - 2002

We consider the properties of two monetary policy rules (monetary targeting, Taylor-type interest rate rule) in an intertemporal equilibrium model with capital accumulation and two outside assets (government bonds, fiat money). The paper shows that the long-run behaviour of the economy depends...

Persistent link: https://www.econbiz.de/10005083289

On policy interactions among nations: when do cooperation and commitment matter?

Kempf, Hubert; von Thadden, Leopold - European Central Bank - 2008

This paper offers a framework to study commitment and cooperation issues in games with multiple policymakers. To reconcile some puzzles in the recent literature on the nature of policy interactions among nations, we prove that games characterized by different commitment and cooperation schemes...

Persistent link: https://www.econbiz.de/10005816174

Trusting the bankers: a new look at the credit channel of monetary policy

Ciccarelli, Matteo; Peydró, José-Luis; Maddaloni, Angela - European Central Bank - 2010

Any empirical analysis of the credit channel faces a key identification challenge: changes in credit supply and demand are difficult to disentangle. To address this issue, we use the detailed answers from the US and the confidential and unique Euro area bank lending surveys. Embedding this...

Persistent link: https://www.econbiz.de/10008560375

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

Leith, Campbell; von Thadden, Leopold - European Central Bank - 2006

Persistent link: https://www.econbiz.de/10005530871

Monetary policy, macroprudential policy and banking stability: evidence from the euro area

Maddaloni, Angela; Peydró, José-Luis - European Central Bank - 2013

crisis, and of the provision of central bank liquidity during the crisis. Exploiting the euro area institutional setting for … helped to soften lending conditions that were tightened because of bank capital and liquidity constraints, especially for … business loans. Importantly, this softening effect is stronger for banks that borrow more long-term liquidity from the …

Persistent link: https://www.econbiz.de/10010686767

Heterogeneous transmission mechanism: monetary policy and financial fragility in the euro area

Ciccarelli, Matteo; Maddaloni, Angela; Peydró, José-Luis - European Central Bank - 2013

The Euro area economic activity and banking sector have shown substantial fragility over the last years with remarkable country heterogeneity. Using detailed data on lending conditions and standards, we analyse how financial fragility has affected the transmission mechanism of the single Euro...

Persistent link: https://www.econbiz.de/10010686876

Monetary and fiscal policy aspects of indirect tax changes in a monetary union

Lipińska, Anna; von Thadden, Leopold - European Central Bank - 2009

In recent years a number of European countries have shifted their tax structure more strongly towards indirect taxes, motivated, inter alia, by the intention to foster competitiveness. Against this background, this paper develops a tractable two-country model of a monetary union, characterised...

Persistent link: https://www.econbiz.de/10008578063