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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
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Privatisation in developing countries : what are the lessons of recent experience?
Estrin, Saul; Pelletier, Adeline - 2016
This paper reviews recent empirical evidence on privatisation in developing countries. Particular emphasis is placed on new areas of research such as the distributional impacts of privatisation. Overall, the literature now reflects a more cautious and nuanced evaluation of privatisation. Thus it...
Persistent link: https://www.econbiz.de/10011571943
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Slippery fish : enforcing regulation under subversive adaptation
Gonzalez Lira, Andres; Mobarak, Ahmed Mushfiq - 2019
Attempts to curb illegal activity through regulation gets complicated when agents can adapt to circumvent enforcement …
Persistent link: https://www.econbiz.de/10011985950
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The impact of regulation on innovation
Aghion, Philippe; Bergeaud, Antonin; Van Reenen, John - 2021
Does regulation affect the pace and nature of innovation and if so, by how much? We build a tractable and quantifiable ….4% lower due to the regulation, a 2.2% consumption equivalent welfare loss. Four-fifths of this loss is due to lower innovation … changes in the direction of R&D, and find that regulation's negative effects only matter for incremental innovation (as …
Persistent link: https://www.econbiz.de/10012431121
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The unemployment impact of product and labour market regulation : evidence from European countries
Piton, Céline; Rycx, François - 2018
This paper provides robust estimates of the impact of both product and labour market regulations on unemployment using data for 24 European countries over the period 1998-2013. Controlling for country-fixed effects, endogeneity and a large set of covariates, results show that product market...
Persistent link: https://www.econbiz.de/10011871988
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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
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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
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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
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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
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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