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reflect contemporaneous information about bank riskin the United States and in Europe.2 In our study, we firstexamine the …
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We study credible information transmission by a benevolent Central Bank. We consider two possibilities: direct … revelation through an announcement, versus indirect information transmission through monetary policy. These two ways of … transmitting information have very different consequences. Since the objectives of the Central Bank and those of individual …
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strongly to predictable marginal cost changes, as expected from the Mankiw and Reis (2002) Sticky Information Model. We �nd …
Persistent link: https://www.econbiz.de/10005049557
This paper shows that the explanation of the decline in the volatility of GDP growth since the mid-eighties is not the decline in the volatility of exogenous shocks but rather a change in their propagation mechanism. JEL Classification: E32, E37, C32, C53
Persistent link: https://www.econbiz.de/10005531008
In this paper we study the impact of shocks to global risk and global risk aversion (such as Lehman) as well as shocks with a more idiosyncratic nature (such as the euro debt crisis) on cross border portfolio flows, taking the perspective of foreign investors. We find robust evidence of...
Persistent link: https://www.econbiz.de/10010709541
In an overlapping generations maximization framework with consumers, whose information on uncertain future income …
Persistent link: https://www.econbiz.de/10005816327