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credit risk transfer. The possibility of transferring credit reduces the impact of liquidity shocks on bank balance sheets … risk. -- Credit Risk Transfer ; Dual Moral Hazard ; Monetary Policy ; Liquidity ; Welfare …
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We study alternative scenarios for exiting the post-crisis fiscal and monetary accommodation using the model of Angeloni and Faia (2010), that combines a standard DSGE framework with a fragile banking sector, suitably modified and calibrated for the euro area. Credibly announced and fast fiscal...
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"The importance of international considerations in the US Federal Reserve System's deliberations has become more and more important over time as global financial crises and events create ever stronger repercussions in the US economy. This book critically evaluates the role of the Federal Reserve...
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