Narrow search
Showing 1 - 10 of 180
Cover Image
Monetary Policy and Bitcoin
Karau, Sören - 2022
Bitcoin was conceptualized in response to perceived shortcomings in the monetary and financialsystem, not only related to large financial institutions but also to discretionary decision makingin monetary policy. Using high-frequency data and a weekly proxy VAR model, I study theimpact of...
Persistent link: https://www.econbiz.de/10013310310
Cover Image
Financial frictions,the Phillips curve and monetary policy
Lieberknecht, Philipp - 2019
This paper proposes a tractable financial accelerator New Keynesian DSGE modelthat allows for closed-form solutions. In the presence of financial frictions, theNew Keynesian Phillips curve features a flat slope with respect to the output gapand is strongly forward-looking. All shocks cause...
Persistent link: https://www.econbiz.de/10012150758
Cover Image
Financial Frictions, the Phillips Curve and Monetary Policy
Lieberknecht, Philipp - 2020
This paper proposes a tractable financial accelerator New Keynesian DSGE model that allows for closed-form solutions. In the presence of financial frictions, the New Keynesian Phillips curve features a flat slope with respect to the output gap and is strongly forward-looking. All shocks cause...
Persistent link: https://www.econbiz.de/10012840479
Cover Image
A note of caution on quantifying banks' recapitalization effects
Schmidt, Kirsten; Noth, Felix; Tonzer, Lena - 2021
Unconventional monetary policy measures like asset purchase programs aim to reduce certain securities' yield and alter financial institutions' investment behavior. These measures increase the institutions' market value of securities and add to their equity positions. We show that the extent of...
Persistent link: https://www.econbiz.de/10012426915
Cover Image
Risky firms and fragile banks: Implications for macroprudential policy
Gasparini, Tommaso; Lewis, Vivien; Moyen, Stéphane; … - 2024
Increases in firm default risk raise the default probability of banks while decreasing output and inflation in US data. To rationalize the empirical evidence, we analyse firm risk shocks in a New Keynesian model where entrepreneurs and banks engage in a loan contract and both are subject to...
Persistent link: https://www.econbiz.de/10014502597
Cover Image
The transmission of bank capital requirements and monetary policy to bank lending
Imbierowicz, Björn; Löffler, Axel; Vogel, Ursula - 2019
interaction effect, on euro area bank lending and lending rates. Our results show that - for weakly capitalized banks - increases …
Persistent link: https://www.econbiz.de/10012161191
Cover Image
The Transmission of Bank Capital Requirements and Monetary Policy to Bank Lending
Imbierowicz, Björn - 2020
interaction effect, on euro area bank lending and lending rates. Our results show that - for weakly capitalized banks - increases …
Persistent link: https://www.econbiz.de/10012840476
Cover Image
A Note of Caution on Quantifying Banks' Recapitalization Effects
Schmidt, Kirsten; Tonzer, Lena - 2021
Unconventional monetary policy measures like asset purchase programs aim to reduce certain securities' yield and alter financial institutions' investment behavior. These measures increase the institutions' market value of securities and add to their equity positions. We show that the extent of...
Persistent link: https://www.econbiz.de/10013247759
Cover Image
Forecasting Banknote Circulation During the Covid-19 Pandemic Using Structural Time Series Models
Bartzsch, Nikolaus; Brandi, Marco; de Pastor, Raymond; … - 2023
per cent of euro banknotes in circulation (cumulated net issuance) had been issued by the national central banks of France …
Persistent link: https://www.econbiz.de/10014352476
Cover Image
Capital flows in the euro area and TARGET2 balances
Hristov, Nikolay; Hülsewig, Oliver; Wollmershäuser, Timo - 2019
We estimate a panel VAR model for the euro area to quantitatively assess how the uneven recourse of national banking … systems in the euro area to the ECB's unconventional refinancing operations that led to the accumulation of large TARGET2 … evolution of aggregate economic activity in euro area member countries in the period 2008-2014. Our results suggest that the …
Persistent link: https://www.econbiz.de/10012036742