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Money in a New-Keynesian model estimated with German data

Werner, Thomas; Lombardo, Giovanni; Kremer, Jana - Deutsche Bundesbank - 2003

In this paper we estimate a simple New-Keynesian DSGE model with German data for the sample period 1970:q1 to 1998:q4 …

Persistent link: https://www.econbiz.de/10005083222

Unconventional monetary policy in an open economy

Gieck, Jana - Deutsche Bundesbank - 2014

understood. In this paper I develop a two-country DSGE model with interbank markets and endogenous default probabilities to …

Persistent link: https://www.econbiz.de/10011161230

More or less aggressive? Robust monetary policy in a New Keynesian model with financial distress

Gerke, Rafael; Hammermann, Felix; Lewis, Vivien - Deutsche Bundesbank - 2009

This paper investigates the optimal monetary policy response to a shock to collateral when policymakers act under discretion and face model uncertainty. The analysis is based on a New Keynesian model where banks supply loans to transaction constrained consumers. Our results confirm the...

Persistent link: https://www.econbiz.de/10005059030

The SSM at 1

Laeven, Luc; Draghi, Mario; Dombret, Andreas R.; … - SUERF - The European Money and Finance Forum; Deutsche …; … - 2016

On 3 December EY hosted a SUERF conference on banking reform with Sir Howard Davies, the Chairman of RBS, and Dame … Colette Bowe, the Chairman of the Banking Standards Board, as the two keynote speakers. Professor David Miles (Imperial … College) gave the SUERF 2015 Annual Lecture on Capital and Banks. The conference focused on core aspects of banking reform …

Persistent link: https://www.econbiz.de/10011557140

Cash on trial, mk II : economics, technology and institutions

Birchler, Urs W. (ed., introduction); … - Cash on Trial <Veranstaltung> <2019, Frankfurt am Main>; … - 2019

Persistent link: https://www.econbiz.de/10012112413

Do capital buffers mitigate volatility of bank lending? A simulation study

Heid, Frank; Krüger, Ulrich - Deutsche Bundesbank - 2011

Critics claim that capital requirements can exacerbate credit cycles by restricting lending in an economic downturn. The introduction of Basel 2, in particular, has led to concerns that risksensitive capital charges are highly correlated with the business cycle. The Basel Committee is...

Persistent link: https://www.econbiz.de/10008923004

Coin migration within the euro area

Seitz, Franz; Stoyan, Dietrich; Tödter, Karl-Heinz - Deutsche Bundesbank - 2009

This paper analyses how many euro coins outflow from Germany and which composition of coins is to be expected in the long run. To this end, a simple mathematical model is formulated and calibrated for €1 coins. The introduction of the euro coins in 2002 presented a unique opportunity to...

Persistent link: https://www.econbiz.de/10008567508

Updating the option implied probability of default methodology

Vilsmeier, Johannes - Deutsche Bundesbank - 2014

In this paper we 'update' the option implied probability of default (option iPoD) approach recently suggested in the literature. First, a numerically more stable objective function for the estimation of the risk neutral density is derived whose integrals can be solved analytically. Second, it is...

Persistent link: https://www.econbiz.de/10011161232

Cash management and payment choices: A simulation model with international comparisons

Arango, Carlos; Bouhdaoui, Yassine; Bounie, David; … - Deutsche Bundesbank - 2014

Despite various payment innovations, today, cash is still heavily used to pay for low-value purchases. This paper develops a simulation model to test whether standard implications of the theory on cash management and payment choices can explain the use of payment instruments by transaction size....

Persistent link: https://www.econbiz.de/10010984729

Imperfect Competition, Monetary Policy and Welfare in a Currency Area

Lombardo, Giovanni - Deutsche Bundesbank - 2002

This paper studies the implication, in terms of welfare and monetary policy, of unequal degrees of competition across members of a currency area. We look at two ways in which the degree of competition in the market for goods can affect welfare in a currency area. One is through different average...

Persistent link: https://www.econbiz.de/10005083139

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