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Monetary Policy and Potential Output Uncertainty : A Quantitative Assessment
Delle Chiaie, Simona - 2012
I estimate a dynamic stochastic general equilibrium model where the policymaker and the private sector have imperfect knowledge about potential output. The estimation of the structural parameters and of the monetary authorities' objectives is key to assess the quantitative relevance of the...
Persistent link: https://www.econbiz.de/10013116556
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Central Bank Liquidity Provision, Risk-Taking and Economic Efficiency
Bindseil, Ulrich - 2013
riskiness of counter parties and issuers is endogenous to the central bank's credit policies and related risk control framework …
Persistent link: https://www.econbiz.de/10013083125
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Risk Management in Action - Robust Monetary Policy Rules under Structured Uncertainty
Levine, Paul; McAdam, Peter; Pearlman, Joseph; Pierse, … - 2021
Recent interest in 'Risk Management' has highlighted the relevance of Bayesian analysis for robust monetary …
Persistent link: https://www.econbiz.de/10013316594
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Risk endogeneity at the lender/investor-of-last-resort
Caballero, Diego; Lucas, André; Schwaab, Bernd; Zhang, Xin - 2019
Persistent link: https://www.econbiz.de/10011981369
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Risk Sharing and Monetary Policy Transmission
Hauptmeier, Sebastian; Holm-Hadulla, Federic; Renault, … - 2022
Using regionally disaggregated data on economic activity, we show that risk sharing plays a key role in shaping the … real effects of monetary policy. With weak risk sharing, monetary policy shocks trigger a strong and durable response in … output. With strong risk sharing, the response is attenuated, and output reverts to its initial level over the medium term …
Persistent link: https://www.econbiz.de/10014242298
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Optimal inflation with corporate taxation and financial constraints
Finocchiaro, Daria; Lombardo, Giovanni; Mendicino, Caterina - 2015
Persistent link: https://www.econbiz.de/10011436009
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Optimal Fiscal and Monetary Policy in a Medium-Scale Macroeconomic Model
Schmitt-Grohé, Stephanie; Uribe, Martín - 2021
In this paper, we study Ramsey-optimal fiscal and monetary policy in a medium-scale model of the U.S. business cycle. The model features a rich array of real and nominal rigidities that have been identified in the recent empirical literature as salient in explaining observed aggregate...
Persistent link: https://www.econbiz.de/10013317651
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What anchors for the natural rate of interest?
Borio, Claudio E. V.; Disyatat, Piti; Phurichai … - 2019
Persistent link: https://www.econbiz.de/10012002046
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Why so low for so long? : a long-term view of real interest rates
Borio, Claudio E. V.; Disyatat, Piti; Juselius, Mikael; … - 2017
Persistent link: https://www.econbiz.de/10011865826
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Lenders on the Storm of Wholesale Funding Shocks : Saved by the Central Bank?
de Haan, Leo - 2016
We provide empirical evidence on banks' responses to shocks in wholesale funding, using data of 181 euro area banks over the period August 2007 to June 2013. Banks' adjustments of loan volumes and lending rates in response to funding liquidity shocks are analysed in a panel VAR framework. The...
Persistent link: https://www.econbiz.de/10012998237