Narrow search
Showing 1 - 10 of 179
Cover Image
What macroeconomic conditions lead financial crises?
Kiley, Michael T. - 2018 - Version 6
of debt growth at the center of frameworks for the deployment of macroprudential policies. I reconsider the role of asset … of the current account deficit have substantially larger (and more statistically-significant) effects than debt growth on …
Persistent link: https://www.econbiz.de/10011932225
Cover Image
Debt Deflation Effects of Monetary Policy
Lin, Li - 2015
decrease in total output. We show that pre-crisis contractionary monetary policy interacts with Fisherian debt …
Persistent link: https://www.econbiz.de/10013033538
Cover Image
How much has wealth concentration grown in the United States? : a re-examination of data from 2001-2013
Bricker, Jesse; Henriques, Alice M.; Hansen, Peter Reinhard - 2018
Well known research based on capitalized income tax data shows robust growth in wealth concentration in the late 2000s. We show that these robust growth estimates rely on an assumption---homogeneous rates of return across the wealth distribution---that is not supported by data. When the...
Persistent link: https://www.econbiz.de/10011927154
Cover Image
Optimal public debt with life cycle motives
Peterman, William B.; Sager, Erick - 2018
Public debt can be optimal in standard incomplete market models with infinitely lived agents, since the associated … the optimality of public debt, this class of economies abstracts from empirically observed life cycle savings patterns …. Thus, this paper studies how incorporating a life cycle affects optimal public debt. We find that while the infinitely …
Persistent link: https://www.econbiz.de/10011927171
Cover Image
The Equity Premium, Long-Run Risk, & Optimal Monetary Policy
Diercks, Anthony M. - 2015
In this study I examine the welfare implications of monetary policy by constructing a novel New Keynesian model that properly accounts for asset pricing facts. I find that the Ramsey optimal monetary policy yields an inflation rate above 3.5% and inflation volatility close to 1.5%. The same...
Persistent link: https://www.econbiz.de/10013014250
Cover Image
An Empirical Economic Assessment of the Costs and Benefits of Bank Capital in the Us
Firestone, Simon; Lorenc, Amy; Ranish, Benjamin - 2017
We evaluate the economic costs and benefits for bank capital levels in the United States. The framework and analysis is similar to that found in previous studies though we tailor the analysis to the specific features and experience of the U.S. financial system and account for the impact of new...
Persistent link: https://www.econbiz.de/10014122000
Cover Image
Flow and Stock Effects of Large-Scale Asset Purchases : Evidence on the Importance of Local Supply
D'Amico, Stefania - 2012
The Federal Reserve's 2009 program to purchase $300 billion of U.S. Treasury securities represented an unprecedented intervention in the Treasury market and provides a natural experiment with the potential to shed light on the price elasticities of Treasuries and theories of supply effects in...
Persistent link: https://www.econbiz.de/10013096284
Cover Image
Flow and Stock Effects of Large-Scale Treasury Purchases
D'Amico, Stefania - 2012
The Federal Reserve's 2009 program to purchase $300 billion of U.S. Treasury securities represented an unprecedented intervention in the Treasury market and provides a natural experiment with the potential to shed light on the price elasticities of Treasuries and theories of supply effects in...
Persistent link: https://www.econbiz.de/10013115544
Cover Image
The (unintended?) consequences of the largest liquidity injection ever
Crosignani, Matteo; Faria-e-Castro, Miguel; Fonseca, Luís - 2017
banks purchased short-term bonds equivalent to 8.4% of amount outstanding. The resumption of public debt issuance is … consistent with a strategic reaction of the debt agency to the observed yield curve steepening …
Persistent link: https://www.econbiz.de/10011708229
Cover Image
The Effect of Central Bank Liquidity Injections on Bank Credit Supply
Carpinelli, Luisa; Crosignani, Matteo - 2017
We study the effectiveness of central bank liquidity injections in restoring bank credit supply following a wholesale funding dry-up. We combine borrower-level data from the Italian credit registry with bank security-level holdings and analyze the transmission of the European Central Bank...
Persistent link: https://www.econbiz.de/10014352393