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Liquidity in Government Versus Covered Bond Markets

Dick-Nielsen, Jens - 2012

We present findings on the secondary market liquidity of government and covered bonds in Denmark before, during and … markets but the government bond market experienced a brief but pronounced decline in market liquidity while liquidity in the … autumn of 2008. After the crisis, liquidity in the government bond market quickly rebounded and government bonds again became …

Persistent link: https://www.econbiz.de/10013096260

Liquidity in Government Versus Covered Bond Markets

Dick-Nielsen, Jens - 2014

Persistent link: https://www.econbiz.de/10013064799

Quantitative or Qualitative Forward Guidance : Does it Matter?

Detmers, Gunda-Alexandra - 2018

Every monetary policy decision by the Reserve Bank of New Zealand (RBNZ) is accompanied by a written statement about the state of the economy and the policy outlook, but only every second decision by a published interest rate forecast. We exploit this difference to study the relative influences...

Persistent link: https://www.econbiz.de/10012911907

Payments, Credit and Asset Prices

Piazzesi, Monika - 2018

intermediaries. While money is valued for its liquidity, its creation requires costly leverage. Inflation, security prices and the …

Persistent link: https://www.econbiz.de/10012914919

Japan's Deflation, Problems in the Financial System and Monetary Policy

Baba, Naohiko; Nishioka, Shinichi; Oda, Nobuyuki; … - 2013

On 18-19 June 2004, the BIS held a conference on "Understanding Low Inflation and Deflation". This event brought together central bankers, academics and market practitioners to exchange views on this issue (see the conference programme in this document). This paper was presented at the workshop....

Persistent link: https://www.econbiz.de/10014060780

Bank Capital Shock Propagation Via Syndicated Interconnectedness

Nirei, Makoto - 2015

Loan syndication increases bank interconnectedness through co-lending relationships. We study the financial stability implications of such dependency on syndicate partners in the presence of shocks to banks' capital. Model simulations in a network setting show that such shocks can produce rare...

Persistent link: https://www.econbiz.de/10013029450

Macroeconomic Implications of Financial Imperfections : A Survey

Claessens, Stijn - 2017

changes in financial intermediaries' balance sheets for the supply of credit, liquidity and asset prices, and, consequently …

Persistent link: https://www.econbiz.de/10012942918

Asset Prices and Macroeconomic Outcomes : A Survey

Claessens, Stijn - 2017

This paper surveys the literature on the linkages between asset prices and macroeconomic outcomes. It focuses on three major questions. First, what are the basic theoretical linkages between asset prices and macroeconomic outcomes? Second, what is the empirical evidence supporting these...

Persistent link: https://www.econbiz.de/10012942935

Credit frictions and optimal monetary policy

Cúrdia, Vasco; Woodford, Michael - Bank für Internationalen Zahlungsausgleich <Basel> - 2009

We extend the basic (representative-household) New Keynesian [NK] model ofthe monetary transmission mechanism to allow for a spread between the interestrate available to savers and borrowers, that can vary for either exogenous orendogenous reasons. We nd that the mere existence of a positive...

Persistent link: https://www.econbiz.de/10009138501

The Term Structure of Announcement Effects

Fleming, Michael J. - 2014

We analyse high-frequency responses of the US yield curve to macroeconomic announcements, exploiting the high signal-to-noise ratios of these events. Surprises in the announcements evoke relatively weak reactions from the short maturities and the strong ones from the intermediate maturities....

Persistent link: https://www.econbiz.de/10012710593

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