effects of the monetary policies of the US Federal Reserve, the European Central Bank and of the People's Bank of China on the …

expectations. In our model, the key parameter that aggregates heterogeneous expectations captures the central bank's credibility …, and other major advanced economies have similar levels of credibility (albeit far from full credibility); however, Japan …'s central bank credibility is much lower. For each country, our measure of credibility has declined over time, making forward …

next three months. A comprehensive bank-level database reveals the public responded to signals sent by regulators' actions …

financial crisis of the 20th century - the Great Depression. Using balance-sheet and systemic risk measures at the bank level …, we build an econometric model with incidental truncation that jointly considers bank survival, the type of bank closure … (consolidations, absorption, and failures), and changes to bank risk. Despite roughly 9,000 bank closures, risk did not leave the …

Bundesbank and the Bank of Japan each focus on one money target, described by the Bundesbank as a target, and by the Bank of … Japan as a projection. None of the countries has stuck rigorously to the targets, though the Bank of Japan has come close …Monetary policies in the U.S., Japan, Germany and the United Kingdom over the period 1973-1986 are compared and …

rehabilitate the U.S. banking industry. Many of those strategies were used also in Japan to combat its banking problems in the 1990 … respect to four of the others. So far the U.S. has avoided Japan's problem of having impaired banks prop up zombie firms …

than the supply of liquidity by a national central bank alone; by making real interest rates dependent on the global …

countries, central bank holdings of dollar reserves are significantly correlated with the dollar-denominated bank borrowing of … model in which the central bank can deal with private-sector mismatch, and the associated risk of a domestic financial … crisis, in two ways: (i) by imposing ex ante financial regulations such as bank capital requirements; or (ii) by building a …