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The impact of containment measures and monetary and fiscal responses on US financial markets during the Covid-19 pandemic
Abakah, Emmanuel Joel Aikins; Caporale, Guglielmo Maria; … - 2021
This paper analyses the effects of containment measures and monetary and fiscal responses on US financial markets during the Covid-19 pandemic. More specifically, it applies fractional integration methods to analyse their impact on the daily S&P500, the US Treasury Bond Index (USTB), the S&P...
Persistent link: https://www.econbiz.de/10012584220
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Efficiency wages, financial market integration, and the fiscal multiplier
Çenesiz, Mustafa Alper; Pierdzioch, Christian - In: Journal of international money and finance 28 (2009) 5, pp. 853-867
Persistent link: https://www.econbiz.de/10003859502
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A fiscal rule that has teeth : a suggestion for a "fiscal sustainability council" underpinned by the financial markets
Hedbávný, Petr (contributor);  … - 2005
In this paper, we set out to examine an efficient fiscal-policy framework for a monetary union. We illustrate that fiscal policy’s bias toward budget deficit only temporarily ceased at the end of the 20th century as European countries endeavored to qualify for euro-zone membership, which...
Persistent link: https://www.econbiz.de/10003112610
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Public spending, currency mismatch and financial frictions
Hory, Marie-Pierre; Levieuge, Grégory; Onori, Daria - In: Journal of international money and finance 116 (2021), pp. 1-18
Persistent link: https://www.econbiz.de/10013206823
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Fiscal-financial vulnerabilities
Schuknecht, Ludger - 2019
The paper analyses the linkages from financial developments to public finances. It maps and discusses the transmission channels to fiscal variables. These channels include asset prices, financing conditions, balance sheets of banks, non-banks and central banks and international linkages. The...
Persistent link: https://www.econbiz.de/10012050685
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Short-time work and precautionary savings
Dengler, Thomas; Gehrke, Britta - 2022
In the Covid-19 crisis, most OECD countries have used short-time work (subsidized working time reductions) to preserve employment relationships. This paper studies whether short-time work can save jobs through stabilizing aggregate demand in recessions. First, we show that the consumption risk...
Persistent link: https://www.econbiz.de/10013332143
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Monetary policy in Turkey after Central Bank independence
Gürkaynak, Refet S.; Kantur, Zeynep; Taş, M. Anil; … - 2015
developments and pay particular attention to monetary policy. The data suggests that the Central Bank of Turkey was a strong … post-2009 period the Central Bank was able to stabilize expectations and asset prices when it chose to do so, but this was …
Persistent link: https://www.econbiz.de/10011375680
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Is optimal monetary policy always optimal?
Davig, Troy; Gürkaynak, Refet S. - 2015
bank has control over will not undo all inefficiencies; this is well understood. We argue that the world is better … terms of optimal monetary policy effectively turns the central bank into the residual claimant of all policy and gives the … other policymakers a free hand in pursuing their own goals. This further worsens the tradeoffs faced by the central bank …
Persistent link: https://www.econbiz.de/10011306110
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Fiscal multipliers and the choice of zero lower bound modeling
Siemsen, Thomas; Watzka, Sebastian - 2013
endogenous central bank reaction to a contractionary demand shock as in Christiano, Eichenbaum, Rebelo (2011) and the ZLB modeled …
Persistent link: https://www.econbiz.de/10009772911
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Secular stagnation : insights from a new Keynesian model with hysteresis effects
Aarle, Bas van - 2016
To analyse the most important aspects of the Secular Stagnation hypothesis, this paper considers the effects of hysteresis in potential output in a New-Keynesian model that is extended with endogenous potential output. To do so, a number of simulations of relevant scenarios is undertaken. It is...
Persistent link: https://www.econbiz.de/10011444072