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Central Banking and Financial Stability in the Long Run
Cao, Jin - 2013
Most theoretical central bank models use short horizons and focus on a single tradeoff. However, in reality central … bankruptcy. We term these factors discipline and stability effects, respectively. The central bank's welfare decreases with …
Persistent link: https://www.econbiz.de/10013080504
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Banking Panics and Liquidity in a Monetary Economy
Matsuoka, Tarishi - 2018
inflation on the equilibrium deposit and the bank's portfolio …
Persistent link: https://www.econbiz.de/10012930807
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The Macroeconomic Policy Challenges of Balance Sheet Recession : Lessons from Japan for the European Crisis
Schnabl, Gunther - 2013
The paper compares the boom-and-bust cycles in Japan and Europe with respect to the reasons for excessive booms, the characteristics of the crises, and the (potential) effects of the crisis therapies. As in Japan the consequence of expansionary monetary and fiscal policies is the hysteresis of...
Persistent link: https://www.econbiz.de/10013081055
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Monetary Policy Crisis Management as a Threat to Economic Order
Freytag, Andreas - 2017
The paper analyses the effects of the monetary policy crisis management of the European Central Bank on the economic … Europe as a whole. It is shown that the monetary policy rescue measures of the European Central Bank have undermined the …
Persistent link: https://www.econbiz.de/10012960114
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Shooting on a Moving Target : Explaining European Bank Rates during the Interwar Period
Wandschneider, Kirsten - 2013
estimate central bank rate reaction functions for a panel of 22 countries during the inter-war gold standard. The estimates …
Persistent link: https://www.econbiz.de/10013095799
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Monetary Policy, Vagabonding Liquidity and Bursting Bubbles in New and Emerging Markets - An Overinvestment View
Schnabl, Gunther; Hoffmann, Andreas - 2021
Credit booms have globally fuelled hikes in stock, raw material and real estate markets which have culminated in the recent US subprime market crisis. We explain the global asset market booms since the mid 1980s based on the overinvestment theories of Hayek, Wicksell and Schumpeter. We argue...
Persistent link: https://www.econbiz.de/10013316825
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Financial Stability and Monetary Policy - A Framework
Illing, Gerhard - 2021
The paper presents a stylised framework to analyse conditions under which monetary policy contributes to amplified movements in the housing market. Extending work by Hyun Shin (2005), the paper analyses self enforcing feedback mechanisms resulting in amplifier effects in a credit constrained...
Persistent link: https://www.econbiz.de/10013317090
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Central Bank Swap Lines
Bahaj, Saleem - 2018
shows that the swap line mimics discount-window credit from the source central bank to the recipient-country banks using the … recipient central bank as the bearer of the credit risk. Second, from the perspective of the transmission of monetary policy, it …
Persistent link: https://www.econbiz.de/10012912674
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Overvalued : Swedish Monetary Policy in the 1930s
Rathke, Alexander - 2013
in the 1930s is sometimes seen as an example of a central bank that was relatively innovative in terms of the conduct of … enabling the country to benefit quickly from the eventual recovery of world demand …
Persistent link: https://www.econbiz.de/10013091832
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Channel Systems : Why is There a Positive Spread?
Berentsen, Aleksander - 2010
the central bank requires government bonds as collateral. We also calibrate the model and discuss the behavior of the …
Persistent link: https://www.econbiz.de/10013135781