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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

An Anatomy of Credit Booms

Terrones, Marco - 2008

We study the characteristics of credit booms in emerging and industrial economies. Macro data show a systematic … relationship between credit booms and economic expansions, rising asset prices, real appreciations and widening external deficits …. Micro data show a strong association between credit booms and leverage ratios, firm values, and banking fragility. We also …

Persistent link: https://www.econbiz.de/10012677365

Monetization in low- and middle-income countries

McLoughlin, Cameron; Kinoshita, Noriaki - 2012

The degree of an economy's monetization, which has an important implication on economic growth, can be affected by the conduct of monetary policy, financial sector reform, and episodes of financial crises. The paper finds that monetization--measured by the ratio of broad money to nominal GDP--...

Persistent link: https://www.econbiz.de/10009618525

Central Bank Collateral Frameworks : Principles and Policies

McCaughrin, Rebecca - 2008

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country

Persistent link: https://www.econbiz.de/10012679475

Financial Stability Frameworks and the Role of Central Banks

Nier, Erlend - 2009

This paper sets out general principles for the design of financial stability frameworks, starting from an analysis of the objectives and tools of financial regulation. The paper then offers a comprehensive analysis of the costs and benefits of the two main models that have emerged for modern...

Persistent link: https://www.econbiz.de/10012677753

The Effectiveness of Central Bank Interventions During the First Phase of the Subprime Crisis

Hesse, Heiko - 2009

indicates that credit premia increased in importance as the crisis deepened. Second, using Markov switching models, central bank …

Persistent link: https://www.econbiz.de/10012677877

Central Bank Response to the 2007-08 Financial Market Turbulence

Stella, Peter - 2008

Persistent link: https://www.econbiz.de/10012678161

Bank Losses, Monetary Policy and Financial Stability-Evidence on the Interplay from Panel Data

Zicchino, Lea - 2008

Persistent link: https://www.econbiz.de/10012678162

Cost-Benefit Analysis of Leaning Against the Wind : Are Costs Larger Also with Less Effective Macroprudential Policy?

Svensson, Lars E. O. - 2016

surprisingly, less effective macroprudential policy and generally a credit boom, with resulting higher probability, severity, or …

Persistent link: https://www.econbiz.de/10014408003

Central Bank Response to the 2007-08 Financial Market Turbulence : Experiences and Lessons Drawn

Stella, Peter - 2008

The paper reviews the policy response of major central banks during the 2007-08 financial market turbulence and suggests that there is scope for convergence among central bank operational frameworks through the adoption of those elements that proved most instrumental in calming markets. These...

Persistent link: https://www.econbiz.de/10014409061

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