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Cross-Border Prudential Policy Spillovers : How Much? How Important? Evidence from the International Banking Research Network

Buch, Claudia M. - 2016

The development of macroprudential policy tools has been one of the most significant changes in banking regulation in recent years. In this multi-study initiative of the International Banking Research Network, researchers from fifteen central banks and two international organizations use...

Persistent link: https://www.econbiz.de/10012978107

International Banking and Liquidity Risk Transmission : Lessons from Across Countries

Buch, Claudia M.; Goldberg, Linda S. - 2021

Network, established in 2012, brings together researchers from around the world with access to micro-level data on individual …

Persistent link: https://www.econbiz.de/10013312517

Global Banks and International Shock Transmission : Evidence from the Crisis

Cetorelli, Nicola - 2010

resulting from the funding shock to their balance sheet induced by the decline in interbank, cross-border lending. Policy …

Persistent link: https://www.econbiz.de/10013143762

World Shocks, World Prices, and Business Cycles : An Empirical Investigation

Fernández, Andrés - 2016

intratemporal relative price such as the terms of trade and possibly an intertemporal price such as the world interest rate. This … paper presents an empirical framework in which multiple commodity prices and the world interest rate transmit world … disturbances. Estimates on a panel of 138 countries over the period 1960-2015 indicate that world shocks explain on average 33 …

Persistent link: https://www.econbiz.de/10012979352

Does the Commodity Super Cycle Matter?

Fernández, Andrés; Schmitt-Grohé, Stephanie; Uribe, … - 2022

prices. Estimates using quarterly and annual data from 1960 to 2018 indicate that world shocks that affect commodity prices … and the world interest rate explain more than half of the variance of output growth on average across countries. However …, the majority of this contribution, more than two thirds, stems from stationary world shocks. These results suggest that …

Persistent link: https://www.econbiz.de/10014094972

Central Bank Dollar Swap Lines and Overseas Dollar Funding Costs

Goldberg, Linda S. - 2010

Following a scarcity of dollar funding available internationally to banks and financial institutions, starting in December 2007 the Federal Reserve established or expanded Temporary Reciprocal Currency Arrangements with fourteen foreign central banks. These central banks had the capacity to use...

Persistent link: https://www.econbiz.de/10013147598

Banking Globalization, Transmission, and Monetary Policy Autonomy

Goldberg, Linda S. - 2013

International financial linkages, particularly through global bank flows, generate important questions about the consequences for economic and financial stability, including the ability of countries to conduct autonomous monetary policy. I address the monetary autonomy issue in the context of...

Persistent link: https://www.econbiz.de/10013074914

The International Transmission of Monetary Policy

Buch, Claudia M. - 2018

This paper presents the novel results from an internationally coordinated project by the International Banking Research Network (IBRN) on the cross-border transmission of conventional and unconventional monetary policy through banks. Teams from seventeen countries use confidential micro-banking...

Persistent link: https://www.econbiz.de/10012922985

Optimal Simple and Implementable Monetary and Fiscal Rules

Schmitt-Grohé, Stephanie; Uribe, Martín - 2021

The goal of this paper is to compute optimal monetary and fiscal policy rules in a real business cycle model augmented with sticky prices, a demand for money, taxation, and stochastic government consumption. We consider simple policy rules whereby the nominal interest rate is set as a function...

Persistent link: https://www.econbiz.de/10013220424

Managing Currency Pegs

Schmitt-Grohé, Stephanie; Uribe, Martín - 2021

The combination of a fixed exchange rate and downward nominal wage rigidity creates a real rigidity. In turn, this real rigidity makes the economy prone to involuntary unemployment during external crises. This paper presents a graphical analysis of alternative policy strategies aimed at...

Persistent link: https://www.econbiz.de/10013224397