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U.S. Monetary Policy Spillovers to Middle East and Central Asia: Shocks, Fundamentals, and Propagations
Ugazio, Giovanni - 2024
decomposing U.S. interest rates changes into two orthogonal shocks: the pure monetary policy shock and the information news shock … countries, with oil exporters with stronger fundamentals withstanding well the shock and oil importers with weaker fundamentals …
Persistent link: https://www.econbiz.de/10015058845
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U.S. Monetary Policy Shock Spillovers: Evidence from Firm-Level Data
Arbatli Saxegaard, Elif - 2022
We examine three main channels through which U.S. monetary policy shocks affect firm investment in foreign countries: (1) the balance sheet channel; (2) the financial channel of the exchange rate; and (3) the trade channel. For this purpose, we use quarterly firm-level data for 63 advanced...
Persistent link: https://www.econbiz.de/10015060091
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Monetary Policy Transmission through Commodity Prices
Miranda-Pinto, Jorge - 2023
Monetary policy influences inflation dynamics by exerting impact on a diverse array of commodity prices. At high frequencies, we show that a 10 basis points increase in US monetary policy rate reduces commodity prices between 0.5% and 2.5%, after 18 to 24 business days. Beyond the dollar...
Persistent link: https://www.econbiz.de/10015059018
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Monetary Policy Pass-Through to Interest Rates: Stylized Facts from 30 European Countries
Beyer, Robert - 2024
subsample of euro area countries, we show that a) the pass-through in the post-pandemic hiking cycle has been heterogenous … non-financial corporation loans and time deposits in euro area countries; c) differences in pass-through over time and …
Persistent link: https://www.econbiz.de/10015058763
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Bank Leverage and Monetary Policy's Risk-Taking Channel : Evidence from the United States
Dell'Ariccia, Giovanni - 2013
We present evidence of a risk-taking channel of monetary policy for the U.S. banking system. We use confidential data on the internal ratings of U.S. banks on loans to businesses over the period 1997 to 2011 from the Federal Reserve's survey of terms of business lending. We find that ex-ante...
Persistent link: https://www.econbiz.de/10014409426
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Household production, services and monetary policy
Ngouana, Constant Lonkeng - 2012
A distinctive feature of market-provided services is that some of them have close substitutes at home. Households may therefore switch between consuming home and market services in response to changes in the real wage - the opportunity cost of working at home - and changes in the price of market...
Persistent link: https://www.econbiz.de/10009621655
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Innocent bystanders? : monetary policy and inequality in the U.S.
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/10009621686
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U.S. and Euro Area Monetary and Fiscal Interactions During the Pandemic: A Structural Analysis
Hodge, Andrew - 2022
policy frameworks and the fiscal support in the U.S. and euro area during the pandemic. Moving from a previous target of … "below, but close to 2 percent" to a formal symmetric inflation targeting regime in the euro area or from flexible to average … in the U.S. and the euro area, and a slower withdrawal of fiscal support in the euro area, have a similar impact on …
Persistent link: https://www.econbiz.de/10015060056
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ECB Euro Liquidity Lines
Albrizio, Silvia - 2023
effects. The announcement of an ECB euro liquidity line decreases the premium paid by foreign agents to borrow euros in FX … equity prices increase by around 1.75% in euro area countries highly exposed via banking linkages to countries whose …
Persistent link: https://www.econbiz.de/10015059508
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Central Banks as Dollar Lenders of Last Resort: Implications for Regulation and Reserve Holdings
Das, Mitali - 2023
This paper explores how non-U.S. central banks behave when firms in their economies engage in currency mismatch, borrowing more heavily in dollars than justified by their operating exposures. We begin by documenting that, in a panel of 53 countries, central bank holdings of dollar reserves are...
Persistent link: https://www.econbiz.de/10015059785