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Resolving puzzles of monetary policy transmission in emerging markets
Ha, Jongrim; Kim, Dohan; Kose, M. Ayhan; Prasad, Eswar S. - 2024
: monetary tightening often leads to an increase in prices (the price puzzle) and depreciation of the currency (the FX puzzle … professional forecasts. We find that the rise in prices following monetary tightening is related to currency depreciation, so …
Persistent link: https://www.econbiz.de/10015084194
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House price responses to monetary policy surprises : evidence from the U.S. listings data
Gorea, Denis; Kryvtsov, Oleksiy; Kudlyak, Marianna - 2022
Existing literature documents that house prices respond to monetary policy surprises with a significant delay, taking …-standard-deviation contractionary monetary policy surprise lowers housing list prices by 0.2-0.3 percent within two weeks - a magnitude on par with the … effect on stock prices. House prices respond stronger to the surprises to future rates as compared to the surprise changes in …
Persistent link: https://www.econbiz.de/10013343329
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The impact of labor markets on the transmission of monetary policy in an estimated DSGE model
Christoffel, Kai (contributor); Kuester, Keith (contributor) - 2005
the conduct of stabilization policy. -- labor market ; wage rigidity ; bargaining ; Bayesian estimation …
Persistent link: https://www.econbiz.de/10003229297
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The European Phillips curve : does the NAIRU exist?
Karanassou, Marika (contributor); Sala, Héctor (contributor) - 2003 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10001792879
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Monetary policy and Swedish unemployment fluctuations
Alexius, Annika (contributor); Holmlund, Bertil (contributor) - 2007
such as unemployment. Previous studies indicate that monetary policy affects the output gap only at business cycle … preferred model, almost 30 percent of the maximum effect of a shock still remains after ten years. …
Persistent link: https://www.econbiz.de/10003591475
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Innocent bystanders? : monetary policy and inequality in the US
Coibion, Olivier; Gorodnichenko, Yuriy; Küng, Lorenz; … - 2012
We study the effects and historical contribution of monetary policy shocks to consumption and income inequality in the United States since 1980. Contractionary monetary policy actions systematically increase inequality in labor earnings, total income, consumption and total expenditures....
Persistent link: https://www.econbiz.de/10009548662
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Causal effects of monetary shocks : semiparametric conditional independence tests with a multinomial propensity score
Angrist, Joshua D. (contributor);  … - 2008
dependent data and allowing for first-step estimation of the propensity score. -- Monetary policy ; propensity score …
Persistent link: https://www.econbiz.de/10003739948
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A tacit monetary policy of the Gulf countries : is there a remittances channel?
Termos, Ali; Genc, Ismail H.; Naufal, George - 2015
The strong economic ties between the GCC economies and the U.S. are manifested in three ways: currency peg, coupling of monetary policy, and the adoption of the U.S. dollar as the trading currency for oil. This paper examines how these dynamics result in a misalignment of the U.S. monetary...
Persistent link: https://www.econbiz.de/10010472482
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How successful are banking sector reforms in emerging market economies? : evidence from impact of monetary policy on levels and structures of firm debt in India
Bhaumik, Sumon Kumar; Kutan, Ali Mustafa; Majumdar, Sudipa - 2016
Many emerging markets have undertaken significant financial sector reforms especially in their banking sectors that have been quite critical for both financial development and real economic activity. In this paper, we investigate the success of banking reforms in India where significant banking...
Persistent link: https://www.econbiz.de/10011493763
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Monetary policy transmission to consumer financial stress and durable consumption
Georgarakos, Dimitris; Tatsiramos, Konstantinos - 2019
We examine the effects of monetary policy on household self-assessed financial stress and durable consumption using panel data from eighteen annual waves of the British Household Panel Survey. For identification, we exploit random variation in household exposure to interest rates generated by...
Persistent link: https://www.econbiz.de/10012019231