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Fiscal limits and monetary policy : default vs. inflation
Sokolova, Anna - In: Economic modelling 48 (2015), pp. 189-198
Persistent link: https://www.econbiz.de/10011453641
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Monetary Policy and the Financing of Firms
De Fiore, Fiorella - 2012
How should monetary policy respond to changes in financial conditions? In this paper we consider a simple model where firms are subject to idiosyncratic shocks which may force them to default on their debt. Firms' assets and liabilities are denominated in nominal terms and predetermined when...
Persistent link: https://www.econbiz.de/10013116576
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Negative Interest Rates, Excess Liquidity and Retail Deposits : Banks’ Reaction to Unconventional Monetary Policy in the Euro Area
Demiralp, Selva - 2019
' funding structures jointly with that in their excess liquidity holdings. We find evidence that banks highly exposed to the …, importantly, the explicit consideration of the role of excess liquidity in our analysis …
Persistent link: https://www.econbiz.de/10012869955
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Negative Interest Rates, Excess Liquidity and Retail Deposits : Banks’ Reaction to Unconventional Monetary Policy in the Euro Area
Demiralp, Selva; Eisenschmidt, Jens; Vlassopoulos, Thomas - 2021
reliance on retail deposit funding and the level of excess liquidity holdings may increase banks’ responsiveness to NIRP. We … segments. We are the first to document the importance of banks’ excess liquidity holdings for the effectiveness of NIRP …, pointing to a strong complementarity of NIRP with central bank liquidity injections, e.g. via asset purchases …
Persistent link: https://www.econbiz.de/10013221074
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Some selected simulation experiments with the European commissionś QUEST model
Röger, Werner; Veld, Jan in 't - In: Economic modelling 21 (2004) 5, pp. 785-832
Persistent link: https://www.econbiz.de/10002137436
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The Political Economy Under Monetary Union : Has the Euro Made a Difference?
Fratzscher, Marcel; Stracca, Livio - 2021
Economic and Monetary Union (EMU) has transformed Europe and has created an integrated pan-European economy. Much research has focused on understanding this integration process and what benefits and costs it entails. This paper identifies a political economy channel of EMU as the monetary union...
Persistent link: https://www.econbiz.de/10013316460
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What Accounts for the Changes in U.S. Fiscal Policy Transmission?
Bilbiie, Florin Ovidiu; Meier, André; Müller, Gernot J. - 2021
Using vector autoregressions on U.S. time series for 1957-1979 and 1983-2004, we find government spending shocks to have stronger effects on output, consumption, and wages in the earlier sample. We try to account for this observation within a DSGE model featuring price rigidities and limited...
Persistent link: https://www.econbiz.de/10013318046
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Monetary and fiscal policy transmission in Poland
Haug, Alfred Albert; Jędrzejowicz, Tomasz; … - In: Economic modelling 79 (2019), pp. 15-27
Persistent link: https://www.econbiz.de/10012199004
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Incomplete interest rate pass-through under credit and labor market frictions
Ciccarone, Giuseppe; Giuli, Francesco; Liberati, Danilo - In: Economic modelling 36 (2014), pp. 645-657
Persistent link: https://www.econbiz.de/10010416287
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International transmission of monetary shocks to the Euro area : evidence from the US, Japan and China
Vespignani, Joaquin L. - In: Economic modelling 44 (2015), pp. 131-141
Persistent link: https://www.econbiz.de/10011326272