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Fiscal fragility : what the past may say about the future

Aizenman, Joshua; Pasricha, Gurnain Kaur - 2010

Persistent link: https://www.econbiz.de/10008991095

Can central banks target bond prices?

Kuttner, Kenneth N. - 2006

Persistent link: https://www.econbiz.de/10003366334

Can Central Banks Target Bond Prices?

Kuttner, Kenneth - 2006

This paper addresses the possible role of bond prices as operating or intermediate targets for monetary policy. The paper begins with a brief review of the mechanisms through which a central bank could, in theory, influence long-term interest rates, and continues with a brief narrative overview...

Persistent link: https://www.econbiz.de/10012466210

Identification and the liquidity effect of a monentary policy shock

Christiano, Lawrence J.; Eichenbaum, Martin S. - 1991

Persistent link: https://www.econbiz.de/10000130434

Liquidity effects and the monetary transmission mechanism

Christiano, Lawrence J.; Eichenbaum, Martin S. - 1992

Persistent link: https://www.econbiz.de/10000136586

Liquidity effects, monetary policy, and the business cycle

Christiano, Lawrence J.; Eichenbaum, Martin S. - 1992

Persistent link: https://www.econbiz.de/10000136725

Central banks and the financial system

Giavazzi, Francesco; Giovannini, Alberto - 2010

"Financial systems are inherently fragile because of the very function which makes them valuable: liquidity … transformation. Regulatory reforms can strengthen the financial system and decrease the risk of liquidity crises, but they cannot … between monetary policy and liquidity transformation 'optimal' monetary policy would consist of a modified Taylor rule in …

Persistent link: https://www.econbiz.de/10003995041

Liquidity Effects, Monetary Policy, and the Business Cycle

Eichenbaum, Martin - 1992

This paper presents new empirical evidence to support the hypothesis that positive money supply shocks drive short-term interest rates down. We then present a quantitative, general equilibrium model which is consistent with the hypothesis. The two key features of our model are that (i) money...

Persistent link: https://www.econbiz.de/10012474841

Liquidity Effects and the Monetary Transmission Mechanism

Christiano, Lawrence J. - 1992

liquidity effects. This paper discusses the basic frictions and mechanisms underlying this new class of models and investigates … long-lasting, quantitatively significant liquidity effects, as well as persistent increases in aggregate economic activity …

Persistent link: https://www.econbiz.de/10012475008

Identification and the Liquidity Effect of a Monetary Policy Shock

Christiano, Lawrence J. - 1991

Conventional wisdom holds that unanticipated expansionary monetary policy shocks cause transient but persistent decreases in real and nominal interest rates. However a number of econometric studies argue that the evidence favors the opposite view, namely that these shocks actually raise, rather...

Persistent link: https://www.econbiz.de/10012475068

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