Showing 1 - 10 of 21
We investigate U.S. monetary and fiscal policy regime interactions in a model, where regimes are determined by latent autoregressive policy factors with endogenous feedback. Policy regimes interact strongly: Shocks that switch one policy from active to passive tend to induce the other policy to...
Persistent link: https://www.econbiz.de/10011657240
In this study, we test whether three popular measures for monetary policy, that is, Romer and Romer (2004), Barakchian and Crowe (2013), and Gertler and Karadi (2015), constitute suitable proxy variables for monetary policy shocks. To this end, we employ different test statistics used in the...
Persistent link: https://www.econbiz.de/10011630098
This paper contributes to a better understanding of the important role that credit demand plays for credit markets and aggregate macroeconomic developments as both a source and transmitter of economic shocks. I am the first to identify a structural credit demand equation together with credit...
Persistent link: https://www.econbiz.de/10014448367
electricity prices and consumer inflation, for both Spain and Portugal. We find that the intervention led to an average reduction …. Regarding overall inflation, we observe notable differences between the two countries. In Spain, the intervention has an …
Persistent link: https://www.econbiz.de/10014474906
usually more costly. In times of high inflation, not only budget constraints but also the fear that prices will continue to …, positively correlated with concerns about climate change. It is also negatively correlated with concerns about future inflation …-median environmental attitude. In the framed field experiment, we use the priming method to manipulate the saliency of inflation concerns …
Persistent link: https://www.econbiz.de/10014501058
matter for inflation, and we document a Fisherian response of inflation across all maturities in response to a bond demand … perceived riskiness of sovereign debt increases inflation and thus complicates the task of controlling price growth. …
Persistent link: https://www.econbiz.de/10014467071
, except for the response of prices. While sovereign risk raises inflation, uncertainty suppresses price growth - a result …
Persistent link: https://www.econbiz.de/10014467072
This study investigates whether and how financial technologies (FinTech) influence the effectiveness of monetary policy transmission. We use an interacted panel vector autoregression model to explore how the effects of monetary policy shocks change with regional-level FinTech adoption. Results...
Persistent link: https://www.econbiz.de/10014247067
This study investigates whether and how financial technologies (FinTech) influence the effectiveness of monetary policy transmission. We use an interacted panel vector autoregression model to explore how the effects of monetary policy shocks change with regional-level FinTech adoption. Results...
Persistent link: https://www.econbiz.de/10014450633
We disentangle the effects of monetary policy announcements on real economic variables into an interest rate shock component and a central bank information shock component. We identify both components using changes in interest rate futures and in exchange rates around monetary policy...
Persistent link: https://www.econbiz.de/10012295246