Narrow search
Showing 1 - 10 of 2,235
Cover Image
Monetary policy and the relative price of durable goods
Cantelmo, Alessandro; Melina, Giovanni - 2015
In a VAR model of the US, the response of the relative price of durables to a monetary contraction is either flat or mildly positive. It significantly falls only if narrowly defined as the ratio between new house and nondurables prices. These findings survive three identification strategies and...
Persistent link: https://www.econbiz.de/10010515460
Cover Image
Commodity price shocks and global cycles : monetary policy matters
Castelnuovo, Efrem; Mori, Lorenzo; Peersman, Gert - 2024
We employ a structural VAR model with global and US variables to study the relevance and transmission of oil, food commodities, and industrial input price shocks. We show that commodities are not all alike. Industrial input price changes are almost entirely endogenous responses to other shocks....
Persistent link: https://www.econbiz.de/10014550949
Cover Image
Unpacking global shocks
Graziano, Alejandro G.; Tian, Yuan - 2024
pandemic were a negative supply shock, and the residual structural factors were a positive demand shock. The resulting excess … import demand contributed to the rise in domestic inflation. …
Persistent link: https://www.econbiz.de/10015057719
Cover Image
The asymmetric impact of economic policy and oil price uncertainty on inflation : evidence from developed and emerging economies
Anderl, Christina; Caporale, Guglielmo Maria - 2023
inflation by using a Nonlinear ARDL (NARDL) model, which is compared to a benchmark linear ARDL one. Using monthly data from the …, especially negative ones, have a stronger impact on inflation than OPU ones and capture some of the monetary policy uncertainty …, thereby reducing the direct effect of interest rate changes on inflation. Since EPU shocks reflect, at least to some extent …
Persistent link: https://www.econbiz.de/10013543029
Cover Image
The effects of monetary policy : a meta-analysis : presented at CESifo Area Conference on Macro, Money and International Finance, February 2004
De Grauwe, Paul; Costa, Cláudia - 2004
countries with high inflation, the output effects of monetary policies are significantly reduced. A lot of variation in the …
Persistent link: https://www.econbiz.de/10011449687
Cover Image
How resilient was trade to Covid-19?
Bas, Maria; Fernandes, Ana; Paunov, Caroline - 2022
per capita) mediated by product vulnerabilities. We account for the precise lag between when the COVID-19 shock hit the … a lower degree of complexity negatively affected exports as a result of this shock. …
Persistent link: https://www.econbiz.de/10013167964
Cover Image
Macroeconomic factors and micro-level bank risk
Buch, Claudia M.; Eickmeier, Sandra; Prieto, Esteban - 2010
.S. macroeconomy. The model includes GDP growth, inflation, the Federal Funds rate, house price inflation, and a set of factors …
Persistent link: https://www.econbiz.de/10008697545
Cover Image
Leaning against the wind and crisis risk
Schularick, Moritz; Ter Steege, Lucas; Ward, Felix - 2020
Can central banks defuse rising stability risks in financial booms by leaning against the wind with higher interest rates? This paper studies the state-dependent effects of monetary policy on financial stability. Based on the near-universe of advanced economy financial cycles since the 19th...
Persistent link: https://www.econbiz.de/10012260596
Cover Image
Unconventional monetary policy shocks in the euro area and the sovereign-bank nexus
Hristov, Nikolay; Hülsewig, Oliver; Scharler, Johann - 2020
We explore the effects of the ECB’s unconventional monetary policy on the banks’ sovereign debt portfolios. In particular, using panel vector autoregressive (VAR) models we analyze whether banks increased their domestic government bond holdings in response to non-standard monetary policy...
Persistent link: https://www.econbiz.de/10012194625
Cover Image
The causal effects of global supply chain disruptions on macroeconomic outcomes : evidence and theory
Bai, Xiwen; Fernández-Villaverde, Jesús; Li, Yiliang; … - 2024
monetary policy is more effective in taming inflation after a global supply chain shock than in regular circumstances. … to study the causal effects of such disruptions. We document how supply chain shocks drove inflation during 2021 but that …, in 2022, traditional demand and supply shocks also played an important role in explaining inflation. Finally, we show how …
Persistent link: https://www.econbiz.de/10014469003