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Coordinating monetary and financial regulatory policies

Van der Ghote, Alejandro - 2018

How to conduct macro-prudential regulation? How to coordinate monetary policy and macro-prudential policy? To address …

Persistent link: https://www.econbiz.de/10011856525

Legal Institutions, Innovation and Growth

Anderlini, Luca - 2014

We analyze the relationship between legal institutions, innovation and growth. We compare a rigid (law set ex-ante) legal system and a flexible one (law set after observing current technology). The flexible system dominates in terms of welfare, amount of innovation and output growth at...

Persistent link: https://www.econbiz.de/10013067864

Legal Institutions, Innovation and Growth

Anderlini, Luca; Felli, Leonardo; Immordino, Giovanni; … - CESifo - 2011

Persistent link: https://www.econbiz.de/10009150639

Delegation and Interim Performance Evaluation

Schütte, Miriam; Wichardt, Philipp Christoph - CESifo - 2013

This paper considers the effects of an interim performance evaluation on the decision of a principal to delegate authority to a potentially biased but better informed agent. Assuming the agents’ outside option to be determined by market beliefs about their type, interim evaluations (a) provide...

Persistent link: https://www.econbiz.de/10010639425

Expectations-driven liquidity traps : implications for monetary and fiscal policy

Nakata, Taisuke; Schmidt, Sebastian - 2019

We study optimal monetary and fiscal policy in a New Keynesian model where occasional declines in agents' confidence can give rise to persistent liquidity trap episodes. Unlike in the case of fundamental-driven liquidity traps, there is no straightforward recipe for mitigating the welfare costs...

Persistent link: https://www.econbiz.de/10012037377

Designing QE in a fiscally sound monetary union

Bletzinger, Tilman; Thadden, Leopold von - 2018

This paper develops a tractable model of a monetary union with a sound fiscal governance structure and shows how in such environment the design of monetary policy above and at the lower bound constraint on short-term interest rates can be linked to well-known findings from the literature dealing...

Persistent link: https://www.econbiz.de/10011856536

Dynamic fiscal limits and monetary-fiscal policy interactions

Battistini, Niccolò; Callegari, Giovanni; Zavalloni, Luca - 2019

This paper analyzes the impact of monetary policy on public debt sustainability through the lens of a general equilibrium model with fiscal limits. We find that the mere possibility of a binding ZLB may have detrimental effects on debt sustainability, as a kink in the Laffer curve induces a...

Persistent link: https://www.econbiz.de/10011997483

Rethinking capital regulation : the case for a dividend prudential target

Muñoz, Manuel A. - 2020

existing capital regulation by tackling this issue. Welfare-maximizing DPTs are effective (more than the CCyB) in smoothing the … a Basel III-type of capital regulation through various channels. …

Persistent link: https://www.econbiz.de/10012241228

Climate transition risk in the banking sector : what can prudential regulation do?

Grill, Michael; Popescu, Alexandra; Rancoita, Elena - 2024

paper, by means of a DSGE model including heterogeneous firms and banks, financial frictions and prudential regulation … increases the volatility of lending and output. We further show that relying on microprudential regulation alone would not be … microprudential regulation, leads to a Pareto improvement. …

Persistent link: https://www.econbiz.de/10014490442

Powering Up Developing Countries Through Integration?

Auriol, Emmanuelle - 2012

Power market integration is analyzed in a two countries model with nationally regulated firms and costly public funds. If generation costs between the two countries are too similar negative business-stealing outweighs efficiency gains so that following integration welfare decreases in both...

Persistent link: https://www.econbiz.de/10013104162

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