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Near-money premiums, monetary policy, and the integration of money markets : lessons from deregulation
Carlson, Mark; Wheelock, David C. - 2016 - Draft: June 2016
The 1960s and 1970s witnessed rapid growth in the markets for new money market instruments, such as negotiable certificates of deposit (CDs) and Eurodollar deposits, as banks and investors sought ways around various regulations affecting funding markets. In this paper, we investigate the impacts...
Persistent link: https://www.econbiz.de/10011578733
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Financial stability considerations for monetary policy : empirical evidence and challenges
Boyarchenko, Nina; Favara, Giovanni; Schularick, Moritz - 2022
Persistent link: https://www.econbiz.de/10013175539
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Income inequality, financial crises, and monetary policy
Cairó, Isabel; Sim, Jae W. - 2018
pressure, and excessive credit growth by allocating income to agents featuring low marginal propensity to consume, and if …
Persistent link: https://www.econbiz.de/10011932429
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Financial frictions, financial shocks, and aggregate volatility
Fuentes-Albero, Cristina - 2014
Persistent link: https://www.econbiz.de/10011280184
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Financial frictions, financial shocks, and aggregate volatility
Fuentes-Albero, Cristina - 2018 - This version: July 2018
The Great Moderation in the U.S. economy was accompanied by a widespread increase in the volatility of financial variables. We explore the sources of the divergent patterns in volatilities by estimating a model with time-varying financial rigidities subject to structural breaks in the size of...
Persistent link: https://www.econbiz.de/10012016100
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The money view versus the credit view
Baker, Sarah S.; López-Salido, José David; Nelson, Edward - 2018
We argue that Schularick and Taylor's (2012) comparison of credit growth and monetary growth as financial … merits of the "money view" and "credit view" as accounts of macroeconomic outcomes. Our own analysis of the postwar evidence … suggests that money outperforms credit in predicting economic downturns in the 14 countries in Schularick and Taylor's dataset …
Persistent link: https://www.econbiz.de/10011932271
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Trade exposure and the evolution of inflation dynamics
Gilchrist, Simon; Zakrajšek, Egon - 2019
The diminished sensitivity of inflation to changes in resource utilization that has been observed in many advanced economies over the past several decades is frequently linked to the increase in global economic integration. In this paper, we examine this "globalization" hypothesis using both...
Persistent link: https://www.econbiz.de/10012017495
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Limited participation in equity markets and business cycles
Morelli, Juan M. - 2021
Persistent link: https://www.econbiz.de/10012608748
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Unemployment rate benchmarks
Crump, Richard K.; Nekarda, Christopher J.; … - 2020
This paper discusses various concepts of unemployment rate benchmarks that are frequently used by policymakers for assessing the current state of the economy as it relates to the pursuit of both price stability and maximum employment. In particular, we propose two broad categories of...
Persistent link: https://www.econbiz.de/10012389411
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Pipeline risk in leveraged loan syndication
Bruche, Max; Malherbe, Frederic; Meisenzahl, Ralf R. - 2017
Persistent link: https://www.econbiz.de/10011709250