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Coordinating monetary and financial regulatory policies

Van der Ghote, Alejandro - 2018

How to conduct macro-prudential regulation? How to coordinate monetary policy and macro-prudential policy? To address …

Persistent link: https://www.econbiz.de/10011856525

Regulatory compliance with limited enforceability : evidence from privacy policies

Ganglmair, Bernhard; Krämer, Julia; Gambato, Jacopo - 2024

The EU General Data Protection Regulation (GDPR) of 2018 introduced stringent transparency rules compelling firms to …

Persistent link: https://www.econbiz.de/10014504790

Bank capital, the state contingency of banks’ assets and its role for the transmission of shocks

Kühl, Michael - 2014

The role of bank capital as a propagation channel of shocks is strongly pronounced in recent macroeconomic models. In this paper, we show how the evolution of bank capital depends on the share of non-state-contingent assets in banks’ balance sheets and present the consequences for...

Persistent link: https://www.econbiz.de/10010415785

Expectations-driven liquidity traps : implications for monetary and fiscal policy

Nakata, Taisuke; Schmidt, Sebastian - 2019

We study optimal monetary and fiscal policy in a New Keynesian model where occasional declines in agents' confidence can give rise to persistent liquidity trap episodes. Unlike in the case of fundamental-driven liquidity traps, there is no straightforward recipe for mitigating the welfare costs...

Persistent link: https://www.econbiz.de/10012037377

Designing QE in a fiscally sound monetary union

Bletzinger, Tilman; Thadden, Leopold von - 2018

This paper develops a tractable model of a monetary union with a sound fiscal governance structure and shows how in such environment the design of monetary policy above and at the lower bound constraint on short-term interest rates can be linked to well-known findings from the literature dealing...

Persistent link: https://www.econbiz.de/10011856536

Dynamic fiscal limits and monetary-fiscal policy interactions

Battistini, Niccolò; Callegari, Giovanni; Zavalloni, Luca - 2019

This paper analyzes the impact of monetary policy on public debt sustainability through the lens of a general equilibrium model with fiscal limits. We find that the mere possibility of a binding ZLB may have detrimental effects on debt sustainability, as a kink in the Laffer curve induces a...

Persistent link: https://www.econbiz.de/10011997483

Asset prices, collateral, and unconventional monetary policy in a DSGE model

Hilberg, Björn; Hollmayr, Josef - 2013

In this paper we set up a New-Keynesian model with a heterogenous banking sector to analyze liquidity problems on the interbank market. The presence of an interbank market is essential to consider a situation where an increased liquidity supply by the central bank is only partially passed on to...

Persistent link: https://www.econbiz.de/10010192797

Rethinking capital regulation : the case for a dividend prudential target

Muñoz, Manuel A. - 2020

existing capital regulation by tackling this issue. Welfare-maximizing DPTs are effective (more than the CCyB) in smoothing the … a Basel III-type of capital regulation through various channels. …

Persistent link: https://www.econbiz.de/10012241228

Climate transition risk in the banking sector : what can prudential regulation do?

Grill, Michael; Popescu, Alexandra; Rancoita, Elena - 2024

paper, by means of a DSGE model including heterogeneous firms and banks, financial frictions and prudential regulation … increases the volatility of lending and output. We further show that relying on microprudential regulation alone would not be … microprudential regulation, leads to a Pareto improvement. …

Persistent link: https://www.econbiz.de/10014490442

Electricity market operation : transitioning from a free market to a single buyer structure

Daglish, Toby; Bragança, Gabriel Godofredo Fiuza de; … - 2016

We examine electricity market reform in Brazil: from the 1990s till 2004 the largely hydro-powered market cleared using a market mechanism, and in March 2004 reformed to a single buyer structure. We model monthly log price differences using a two-state Markov Switching model, allowing water...

Persistent link: https://www.econbiz.de/10012059460

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