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Monetary Transmission Through Bank Securities Portfolios
Greenwald, Daniel; Krainer, John; Paul, Pascal - National Bureau of Economic Research - 2024
We study the transmission of monetary policy through bank securities portfolios using granular supervisory data on U ….S. bank securities, hedging positions, and corporate credit. Banks that experienced larger losses on their securities during …
Persistent link: https://www.econbiz.de/10014544727
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Monetary Policy Wedges and the Long-term Liabilities of Households and Firms
Binsbergen, Jules H. van; Grotteria, Marco - National Bureau of Economic Research - 2024
mortgage rates move one-for-one with 10-year swap rates, leaving little explanatory power for mortgage concentration, bank …
Persistent link: https://www.econbiz.de/10014486229
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Banking Globalization, Monetary Transmission, and the Lending Channel
Cetorelli, Nicola - 2008
The globalization of banking in the United States is influencing the monetary transmission mechanism both domestically …
Persistent link: https://www.econbiz.de/10012464544
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Global Liquidity : Drivers, Volatility and Toolkits
Goldberg, Linda S. - National Bureau of Economic Research - 2023
Global liquidity refers to the volumes of financial flows - largely intermediated through global banks and non-bank … regulatory agendas related to non-bank financial institutions …
Persistent link: https://www.econbiz.de/10014322743
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A Monetary Policy Asset Pricing Model
Caballero, Ricardo J.; Simsek, Alp - National Bureau of Economic Research - 2022
, and inertia. Asset pricing is determined by a different group of forward-looking agents ("the market"). The central bank …
Persistent link: https://www.econbiz.de/10013334351
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The Credit Supply Channel of Monetary Policy Tightening and its Distributional Impacts
Bosshardt, Joshua; Di Maggio, Marco; Kakhbod, Ali; … - National Bureau of Economic Research - 2023
This paper studies how tightening monetary policy transmits to the economy through the mortgage market and sheds new light on the distributional consequences at both the individual and regional levels. We find that credit supply factors, specifically restrictions on the debt-to-income (DTI)...
Persistent link: https://www.econbiz.de/10014322851
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Monetary Policy Transmission Through Online Banks
Erel, Isil; Liebersohn, Jack; Yannelis, Constantine; … - National Bureau of Economic Research - 2023
monetary policy by lowering search costs and expanding bank markets. This paper studies the reaction of online banks to changes … online banks. Consistent with the rate movements, online bank deposits experience inflows, while traditional banks experience …
Persistent link: https://www.econbiz.de/10014322768
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The Labor Demand and Labor Supply Channels of Monetary Policy
Graves, Sebastian; Huckfeldt, Christopher K.; Swanson, … - National Bureau of Economic Research - 2023
Monetary policy is conventionally understood to influence labor demand, with little effect on labor supply. We estimate the response of labor market flows to high-frequency changes in interest rates around FOMC announcements and Fed Chair speeches and find that, in contrast to the consensus...
Persistent link: https://www.econbiz.de/10014421195
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Global Monetary and Financial Spillovers : Evidence from a New Measure of Bundesbank Policy Shocks
Cloyne, James; Hürtgen, Patrick; Taylor, Alan M. - National Bureau of Economic Research - 2022
Identifying exogenous variation in monetary policy is crucial for investigating central bank policy transmission. Using … newly-collected archival real-time data utilized by the Central Bank Council of the German Bundesbank, we identify …
Persistent link: https://www.econbiz.de/10013388841
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Do Investor Differences Impact Monetary Policy Spillovers to Emerging Markets?
Faia, Ester; Lewis, Karen K.; Zhou, Haonan - National Bureau of Economic Research - 2024
We re-examine monetary policy spillovers to Emerging Market Economies (EME) in the form of capital flow reversals, using sectoral-level securities holdings data for Euro Area investors. In response to a surprise monetary tightening, active investors such as investment funds re-balance their...
Persistent link: https://www.econbiz.de/10015072927