Narrow search
Showing 1 - 10 of 144
Cover Image
Evolving UK and US Macroeconomic Dynamics Through the Lens of a Model of Deterministic Structural Change
Kapetanios, George - 2011
Using a model of deterministic structural change, we revisit several topics in inflation dynamics explored previously using stochastic, time - varying parameter models. We document significant reductions in inflation persistence and predictability. We estimate that changes in the volatility of...
Persistent link: https://www.econbiz.de/10013122034
Cover Image
Turning in the Widening Gyre : Monetary and Fiscal Policy in Interwar Britain
Ronicle, David - 2022
This paper brings together modern empirical techniques, a sign-restricted structural vector autoregression, with contemporary high frequency data to answer an old question – what role did macroeconomic policy play in Britain’s high unemployment and deflation in the years 1919 to 1938. Its...
Persistent link: https://www.econbiz.de/10013290339
Cover Image
Inflation, employment, and monetary policy : objectives and outcomes in the UK and U.S. compared
Miles, David - In: Journal of money, credit and banking : JMCB 46 (2014), pp. 155-167
Persistent link: https://www.econbiz.de/10010471059
Cover Image
Monetary versus Macroprudential Policies Causal Impacts of Interest Rates and Credit Controls in the Era of the UK Radcliffe Report
Aikman, David - 2016
We have entered a world of conjoined monetary and macroprudential policies. But can they function smoothly in tandem, and with what effects? Since this policy cocktail has not been seen for decades, the empirical evidence is almost non-existent. We can only fix this shortcoming in a historical...
Persistent link: https://www.econbiz.de/10012984714
Cover Image
Unconventional Monetary Policies and the Macroeconomy : The Impact of the United Kingdom's QE2 and Funding for Lending Scheme
Churm, Rohan - 2015
In this paper we assess the macroeconomic effects of two of the flagship unconventional monetary policies used by the Bank of England during the later stages of the global economic crisis: additional quantitative easing (QE) and the introduction of the Funding for Lending Scheme (FLS). We argue...
Persistent link: https://www.econbiz.de/10013017591
Cover Image
The Macroeconomic Effects of Monetary Policy : A New Measure for the United Kingdom
Cloyne, James - 2014
This paper estimates the effects of monetary policy on the UK economy based on a new, extensive real-time forecast data … the UK economy. We find that a 1 percentage point increase in the policy rate reduces output by up to 0.6% and inflation …
Persistent link: https://www.econbiz.de/10013055929
Cover Image
Does Quantitative Easing Boost Bank Lending to the Real Economy or Cause Other Bank Asset Reallocation? The Case of the UK
Giansante, Simone - 2020
composition of assets of UK banks, and the implications for bank lending to the real economy, using a unique database on the … that suggests that QE directly boosted bank lending to the real economy, even when controlling fully for demand …
Persistent link: https://www.econbiz.de/10012825329
Cover Image
The Impact of QE on the UK Economy – Some Supportive Monetarist Arithmetic
Bridges, Jonathan - 2012
This paper uses a simple money demand and supply framework to estimate the impact of quantitative easing (QE) on asset prices and nominal spending. We use standard money accounting to try to establish the impact of asset purchases on broad money holdings. We show that the initial impact of £200...
Persistent link: https://www.econbiz.de/10013111724
Cover Image
Understanding the Macroeconomic Effects of Working Capital in the United Kingdom
Corugedo, Emilio Fernández - 2011
The most recent recession has been associated with a financial crisis that led to a large widening of spreads and quantitative restrictions on lending. As well as affecting investment, such a credit contraction is likely to have had a large effect on the working capital positions of UK firms and...
Persistent link: https://www.econbiz.de/10013126716
Cover Image
The Brexit Vote, Productivity Growth and Macroeconomic Adjustments in the United Kingdom
Broadbent, Ben - 2019
The UK economy has experienced significant macroeconomic adjustments following the 2016 referendum on its withdrawal … from the European Union. This paper develops and estimates a small open economy model with tradable and non … the model economy to such news are consistent with key patterns in UK data. While overall economic growth slows, an …
Persistent link: https://www.econbiz.de/10012863988