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Banks' Reserve Management, Transaction Costs, and the Timing of Federal Reserve Intervention

Bertola, Giuseppe - 2000

We use daily data on bank reserves and overnight interest rates to document a striking pattern in the high-frequency behavior of the U.S. market for federal funds: depository institutions tend to hold more reserves during the last few days of each “reserve maintenance period,” when the...

Persistent link: https://www.econbiz.de/10014400093

Japanese Banks and the Asset Price ""Bubble""

Fries, Steven M. - 1993

With the recent collapse of the asset price “bubble,” Japanese banks encountered significant pressure from both a sharp decline in the value of equity holdings and a marked increase in bad loans. In August 1992, the Government initiated measures that stabilized equity prices and assisted...

Persistent link: https://www.econbiz.de/10014396132

Reserve Requirements and Monetary Management : An Introduction

International Monetary Fund - 1993

Reserve requirements are widely used by central banks as a means to improve monetary control, an instrument for policy implementation, a source of revenue, and a safeguard of bank liquidity. The effectiveness of reserve requirements in fulfilling these functions is reviewed, and the detailed...

Persistent link: https://www.econbiz.de/10014396330

Asset price bubbles : a selective survey

Scherbina, Anna - 2013

Persistent link: https://www.econbiz.de/10009726553

Asset Price Bubbles : A Selective Survey

Scherbina, Anna - 2013

Why do asset price bubbles continue to appear in various markets? This paper provides an overview of recent literature … on bubbles, with significant attention given to behavioral models and rational models with frictions. Unlike the standard … insights for how bubbles are initiated and sustained, the reasons they burst, and why arbitrage forces do not routinely step in …

Persistent link: https://www.econbiz.de/10014395388

Optimal macroprudential policy and asset price bubbles

Biljanovska, Nina; Górnicka, Lucyna; Vardoulakis, … - 2019

that the macroprudential policy should optimally respond to building asset price bubbles non-monotonically depending on the …

Persistent link: https://www.econbiz.de/10012103635

Fundamental and speculative demands for housing

Lian, Weicheng - 2019

This paper separates the roles of demand for housing services and belief about future house prices in a house price cycle, by utilizing a feature of user-cost-of-housing that it is sensitive to demand for housing services only. Optimality conditions of producing housing services determine...

Persistent link: https://www.econbiz.de/10012009613

Exchange Rate Forecasting Techniques, Survey Data, and Implications for the Foreign Exchange Market

International Monetary Fund - 1990

This paper seeks to advance the discussion of monetary policy strategies in several ways. One involves a comparison of targets for nominal GNP and the price level, with emphasis on specificational robustness and implications for output variability. A second pertains to various “indicator”...

Persistent link: https://www.econbiz.de/10014396173

Exchange Rate Forecasting Techniques, Survey Data, and Implications for the Foreign Exchange Market

International Monetary Fund - 1990

speculative bubbles …

Persistent link: https://www.econbiz.de/10014396182

Deposit Insurance Regulatory forbearance and Economic Growth : Implications for the Japanese Banking Crisis

Kletzer, Kenneth - 2005

An endogenous growth model with financial intermediation demonstrates how deposit insurance and prudential regulatory forbearance lead to banking crises and growth declines. The model assumptions are based on features of the Japanese financial system and regulation. The model demonstrates how...

Persistent link: https://www.econbiz.de/10014404180

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