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US Monetary Policy in a Globalized World
Cuaresma, Jesús Crespo - 2016
policy shock leads to a persistent fall in international output, a drop in global inflation rates, a rise in international … shock to foreign real GDP growth …
Persistent link: https://www.econbiz.de/10012994181
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Monetary Policy Through Production Networks : Evidence from the Stock Market
Ozdagli, Ali K. - 2017
Monetary policy shocks have a large impact on aggregate stock market returns in narrow event windows around press releases by the Federal Open Market Committee. We use spatial autoregressions to decompose the overall effect of monetary policy shocks into a direct (demand) effect and an indirect...
Persistent link: https://www.econbiz.de/10012953959
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Effectiveness and Transmission of the ECB's Balance Sheet Policies
Boeckx, Jef - 2014
crisis within a structural VAR framework. An expansionary balance sheet shock stimulates bank lending, stabilizes financial …
Persistent link: https://www.econbiz.de/10013048831
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Bank Behavior and the Cost Channel of Monetary Transmission
Hülsewig, Oliver; Mayer, Eric; Wollmershaeuser, Timo - 2021
-type staggered price setting approach, which means that the adjustment of the aggregate loan rate to a monetary policy shock is …
Persistent link: https://www.econbiz.de/10013317392
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Shadow Banks and the Risk-Taking Channel of Monetary Policy Transmission in the Euro Area
Wischnewsky, Arina - 2018
In this paper, we provide evidence for a risk-taking channel of monetary policy transmission in the euro area that works through an increase in shadow banks' total asset growth and their risk assets ratio. Our dataset covers the period 2003Q1 - 2017Q3 and includes, in addition to the standard...
Persistent link: https://www.econbiz.de/10012912666
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On the Effects of Monetary Policy Shocks on Exchange Rates
Binder, Michael - 2013
industrial economies (Australia, Canada, France, Germany, Italy, Japan, New Zealand, United Kingdom, and the United States), we … policy shock, and that there is no delay in the overshooting of the U.S. Dollar. Furthermore, there is no persistent …
Persistent link: https://www.econbiz.de/10013094323
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The Effects of Monetary Policy on Unemployment Dynamics under Model Uncertainty - Evidence from the US and the Euro Area
Altavilla, Carlo - 2013
This paper explores the role that the imperfect knowledge of the structure of the economy plays in the uncertainty surrounding the effects of rule-based monetary policy on unemployment dynamics in the euro area and the US. We employ a Bayesian model averaging procedure on a wide range of models...
Persistent link: https://www.econbiz.de/10012753184
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Real Effects of Quantitative Easing at the Zero-Lower Bound : Structural VAR-Based Evidence from Japan
Schenkelberg, Heike - 2013
DSGE models. Our results show that while a quantitative easing shock leads to a significant but temporary rise in output …
Persistent link: https://www.econbiz.de/10013092811
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Shocks to Bank Lending, Risk-Taking, Securitization, and Their Role for U.S. Business Cycle Fluctuations
Peersman, Gert - 2014
type of shock. Expansionary securitization shocks lead to a permanent rise in real GDP and a fall in inflation. Bank …
Persistent link: https://www.econbiz.de/10013055428
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The European Central Bank's QE : A New Hope
Wieladek, Tomasz - 2016
We examine the impact of the ECB's QE on Euro Area real GDP and core CPI with a Bayesian VAR, estimated on monthly data from 2012M6 to 2016M4. We assess the total impact via a counter-factual exercise, country-by-country and through alternative transmission channels. QE announcement shocks are...
Persistent link: https://www.econbiz.de/10012986934