Similar Search Results

Acharya, Sushant; Pesenti, Paolo A. - National Bureau of Economic Research - 2024

We study international monetary policy spillovers and spillbacks in a tractable two-country Heterogeneous Agent New Keynesian model. Relative to Representative Agent (RANK) models, our framework introduces a precautionary-savings channel, as households in both countries face uninsurable income...

Persistent link: https://www.econbiz.de/10014512099

Monetary Policy Wedges and the Long-term Liabilities of Households and Firms

Binsbergen, Jules H. van; Grotteria, Marco - National Bureau of Economic Research - 2024

We examine the transmission of monetary policy shocks to the long-duration liabilities of households and firms using high-frequency variation in 10-year swap rates around FOMC announcements. We find that four weeks after the announcement mortgage rates move one-for-one with 10-year swap rates,...

Persistent link: https://www.econbiz.de/10014486229

Q-Monetary Transmission

Jeenas, Priit; Lagos, Ricardo - National Bureau of Economic Research - 2022

We study the effects of monetary-policy-induced changes in Tobin's q on corporate investment and capital structure. We … evidence, and quantify the relevance for monetary transmission to aggregate investment …

Persistent link: https://www.econbiz.de/10013210051

Micro Jumps, Macro Humps : Monetary Policy and Business Cycles in an Estimated HANK Model

Auclert, Adrien - 2020

shock. Our estimated model uncovers a central role for investment in the transmission mechanism of monetary policy, as high … MPCs amplify the investment response in the data. This force also generates a procyclical response of consumption to … investment shocks, leading our model to infer a central role for these shocks as a source of business cycles …

Persistent link: https://www.econbiz.de/10012479171

Financial sector ups and downs and the real sector : big hindrance, little help

Aizenman, Joshua - 2011

"We examine how financial expansion and contraction cycles affect the broader economy through their impact on 8 real economic sectors in a panel of 28 countries over 1960-2005, paying particular attention to large, or sharp, contractions and magnifying and mitigating factors. Overall, the...

Persistent link: https://www.econbiz.de/10011395532

The Cost Channel of Monetary Transmission

Barth, Marvin J, III. - 2000

This paper presents evidence that the cost channel' may be an important part of the monetary transmission mechanism. We argue that if working capital is an essential component of production and distribution, monetary contractions can affect output through a supply channel as well as the...

Persistent link: https://www.econbiz.de/10012471092

Analysis of the Monetary Transmission Mechanism : Methodological Issues

McCallum, Bennett T. - 1999

This paper argues that, in studying the monetary policy transmission process, more emphasis should be given to the systematic portion of policy behavior and correspondingly less to random shocks basically because shocks account for a very small fraction of policy-instrument variability. Analysis...

Persistent link: https://www.econbiz.de/10012471390

The Transmission Mechanism of Monetary Policy in Europe : Evidence from Banks' Balance Sheets

Favero, Carlo A. - 1999

Available studies on asymmetries in the monetary transmission mechanism within Europe are invariably based on macro-economic evidence: such evidence is abundant but often contradictory. This paper takes a different route by using micro-economic data. We use the information contained in the...

Persistent link: https://www.econbiz.de/10012471558

Legal Structure, Financial Structure, and the Monetary Policy Transmission Mechanism

Cecchetti, Stephen G. - 1999

Among the many challenges facing the new Eurosystem is the possibility that the regions of the euro area will respond differently to interest rate changes. In this essay, I provide evidence that differences in financial structure are the proximate cause for these national asymmetries in the...

Persistent link: https://www.econbiz.de/10012471636

Risk-Taking and Monetary Policy Transmission : Evidence from Loans to SMEs and Large Firms

Caglio, Cecilia R.; Darst, R. Matthew; Kalemli-Ozcan, Sebnem - National Bureau of Economic Research - 2021

Using confidential regulatory firm-bank-loan level data from the U.S., we document four new facts about the credit market. First, private SMEs typically utilize all available bank credit which comprises their entire balance sheet debt, compared to large listed firms who can switch between...

Persistent link: https://www.econbiz.de/10012510563

1
2
3
4
5
6
7
8
9
10
Next
Last