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Debt is not free
Moreno Badía, Marialuz; Medas, Paulo; Gupta, Pranav; … - 2020
With public debt soaring across the world, a growing concern is whether current debt levels are a harbinger of fiscal crises, thereby restricting the policy space in a downturn. The empirical evidence to date is however inconclusive, and the true cost of debt may be overstated if interest rates...
Persistent link: https://www.econbiz.de/10012170046
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Liquidity ratios as monetary policy tools : some historical lessons for macroprudential policy
Monnet, Eric; Vari, Miklos - 2019
on numerous historical documents, we show that liquidity ratios similar to the Liquidity Coverage Ratio (LCR) were … mechanisms described by contemporary central bankers, in which an increase in the liquidity ratio has contractionary effects …
Persistent link: https://www.econbiz.de/10012103606
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Excess liquidity and the money market in the euro area
Beaupain, Renaud; Durré, Alain - In: Journal of macroeconomics 47 (2016), pp. 33-44
Persistent link: https://www.econbiz.de/10011707476
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From Lombard Street to Avenida Paulista : Foreign Exchange Liquidity Easing in Brazil in Response to the Global Shock of 2008-09
Stone, Mark R. - 2009
The provision of foreign exchange liquidity by emerging market central banks during the global shock of 2008-09 departs … from the domestic liquidity lender of last resort role described by Bagehot in his classic ""Lombard Street."" This paper … documents and analyzes the foreign exchange liquidity providing measures of the Banco Central do Brasil (BCB) in response to …
Persistent link: https://www.econbiz.de/10014402073
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Comment on: "The Eurozone crisis : phoenix miracle or lost decade?"
Philippopulos, Apostolēs - In: Journal of macroeconomics 39 (2014) 2, pp. 309-312
Persistent link: https://www.econbiz.de/10010494049
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The European crisis and the role of the financial system
Constâncio, Vítor - In: Journal of macroeconomics 39 (2014) 2, pp. 250-259
Persistent link: https://www.econbiz.de/10010494076
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India’s recent macroeconomic performance : an assessment and way forward
Kapur, Muneesh; Mohan, Rakesh - 2014
Persistent link: https://www.econbiz.de/10010388634
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How the euro crisis evolved and how to avoid another : EMU, fiscal policy and credit ratings
Polito, Vito; Wickens, Michael R. - In: Journal of macroeconomics 39 (2014) 2, pp. 364-374
Persistent link: https://www.econbiz.de/10010496461
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Booms, crises, and recoveries : a new paradigm of the business cycle and its policy implications
Cerra, Valerie; Saxena, Sweta Chaman - 2017
All types of recessions, on average, not just those associated with financial and political crises (as in Cerra and Saxena, AER 2008), lead to permanent output losses. These findings have far-reaching conceptual and policy implications. A new paradigm of the business cycle needs to account for...
Persistent link: https://www.econbiz.de/10011763625
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Monetary and fiscal coordination in preventing bank failures and financial contagion
Sim, Khai Zhi - In: Journal of macroeconomics 75 (2023), pp. 1-19
Persistent link: https://www.econbiz.de/10014423948