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Interest rates, money, and banks in an estimated euro area model

Christoffel, Kai; Schabert, Andreas - 2015

Persistent link: https://www.econbiz.de/10011288725

Money demand and macroeconomic stability revisited

Schabert, Andreas (contributor); … - 2005

This paper examines how money demand induced real balance effects contribute to the determination of the price level, as suggested by Patinkin (1949,1965), and if they affect conditions for local equilibrium uniqueness and stability. There exists a unique price level sequence that is consistent...

Persistent link: https://www.econbiz.de/10002817422

Interest rate spreads and forward guidance

Bredemeier, Christian; Kaufmann, Christoph; Schabert, … - 2018

We provide evidence that liquidity premia on assets that are more relevant for private agents' intertemporal choices … specification of liquidity premia based on assets' differential pledgeability to a basic New Keynesian model to replicate this … guidance period and are substantially smaller than if liquidity premia were neglected. This indicates that there are no …

Persistent link: https://www.econbiz.de/10011921015