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An evaluation of the CAP impact : a discrete policy mix analysis
Dumangane, M.; Freo, M.; Granato, S.; Lapatinas, A.; … - Europäische Kommission / Gemeinsame Forschungsstelle - 2021
Persistent link: https://www.econbiz.de/10013438697
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Die Wirkung fiskalischer Schocks auf das Bruttoinlandsprodukt
Bode, Oliver; Gerke, Rafael; Schellhorn, Hannes - 2006
Persistent link: https://www.econbiz.de/10009751414
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The Liquidity Channel of Fiscal Policy
Bayer, Christian - 2020
—the liquidity premium. We rationalize this finding in an estimated heterogeneous-agent New-Keynesian (HANK) model with incomplete … markets and portfolio choice, in which public debt affects private liquidity. In this environment, the short-run fiscal … multiplier is amplified by the countercyclical liquidity premium. This liquidity channel stabilizes investment and crowds in …
Persistent link: https://www.econbiz.de/10012830353
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Unconventional Monetary Policy Shocks in the Euro Area and the Sovereign-Bank Nexus
Hristov, Nikolay - 2020
We explore the effects of the ECB's unconventional monetary policy on the banks' sovereign debt portfolios. In particular, using panel vector autoregressive (VAR) models we analyze whether banks increased their domestic government bond holdings in response to non-standard monetary policy shocks,...
Persistent link: https://www.econbiz.de/10012838235
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The Euro Area Periphery Sovereigns' Fiscal Positions and Unconventional Monetary Policy
Hülsewig, Oliver - 2020
We explore the reaction of the euro area periphery sovereigns' fiscal positions to an unconventional monetary policy shock. We estimate panel vector autoregressive (VAR) models over the period 2010-2018, and identify the shock by imposing sign restrictions. Our results suggest that the...
Persistent link: https://www.econbiz.de/10012843420
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The Effect of U.S. Stress Tests on Monetary Policy Spillovers to Emerging Markets
Liu, Emily - 2019
easing when liquidity is abundant, banks are more flexible, and the scope for adjusting lending is larger when they have a …
Persistent link: https://www.econbiz.de/10012858696
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The Impact of Containment Measures and Monetary and Fiscal Responses on US Financial Markets During the COVID-19 Pandemic
Aikins Abakah, Emmanuel Joel; Caporale, Guglielmo Maria; … - 2021
This paper analyses the effects of containment measures and monetary and fiscal responses on US financial markets during the Covid-19 pandemic. More specifically, it applies fractional integration methods to analyse their impact on the daily S&P500, the US Treasury Bond Index (USTB), the S&P...
Persistent link: https://www.econbiz.de/10013220137
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Macroprudential Policy and the Sovereign-Bank Nexus in the Euro Area
Hristov, Nikolay; Hülsewig, Oliver; Kolb, Benedikt - 2021
We explore how changes in capital-based macroprudential regulation in the euro area affect the exposure of national banking sectors to domestic government debt, thus strengthening or weakening the sovereign-bank nexus. To do so, we construct a measure of macroprudential policy based on the...
Persistent link: https://www.econbiz.de/10013324211
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Climate Change Mitigation : How Effective is Green Quantitative Easing?
Abiry, Raphael; Ferdinandusse, Marien; Ludwig, Alexander; … - 2022
We develop a two sector incomplete markets integrated assessment model to analyse the effectiveness of green quantitative easing (QE) in complementing fiscal policies for climate change mitigation. We model green QE through an outstanding stock of private assets held by a monetary authority and...
Persistent link: https://www.econbiz.de/10014081044
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Unconventional Monetary Policy in the Euro Area. Impacts on Loans, Employment, and Investment
Afonso, António; Gomes Pereira, Francisco - 2022
Using a difference-in-differences identification strategy on a micro panel at the bank and firm level, we study the transmission effectiveness of ECB’s large-scale asset purchasing programs programs (i.e. APP and PEPP) in the Euro area. Our findings show: first, balance sheet composition of...
Persistent link: https://www.econbiz.de/10013296738