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The role of money in monetary policy at the lower bound
Billi, Roberto M.; Söderström, Ulf; Walsh, Carl E. - 2020
In light of the current low-interest-rate environment, we reconsider the merit of a money growth target (MGT) relative to a conventional in ation targeting (IT) regime, and to the notion of price level targeting (PLT). Through the lens of a New Keynesian model, and accounting for a zero lower...
Persistent link: https://www.econbiz.de/10012229943
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The interaction between fiscal and monetary policies : evidence from Sweden
Ankargren, Sebastian; Shahnazarian, Hovick - 2019 - (Updated april 2019)
higher than one suggesting that fiscal policy can be used to support monetary policy to stabilize the economy in case …
Persistent link: https://www.econbiz.de/10011990029
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Using financial markets to estimate the macro effects of monetary policy : an impact-identified FAVAR
Pitschner, Stefan - 2013
economy's underlying factor structure as the link between its real and financial sides, I find that high-frequency responses …
Persistent link: https://www.econbiz.de/10009760371
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The interaction between macroprudential and monetary policies: the cases of Norway and Sweden
Cao, Jin; Dinger, Valeriya; Grodecka, Anna; Juelsrud, … - 2020 - This version: July, 2020
To shed light on the interaction between macroprudential and monetary policies, we study the inward transmission of foreign monetary policy in conjunction with domestic macroprudential and monetary policies in Norway and Sweden. Using detailed bank-level data we show how Norwegian and Swedish...
Persistent link: https://www.econbiz.de/10012243617
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Asymmetric macro-financial spillovers
Bluwstein, Kristina - 2017
The 2008 financial crisis has shown that financial busts can influence the real economy. However, there is less …
Persistent link: https://www.econbiz.de/10011617592
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What have we learned from empirical tests of the monetary transmission effect
Norrbin, Stefan C. - 2000
The transmission effect of money has been a frequently debated issue. This paper discusses the empirical literature examining the effect of money on real output. In contrast to the commonly held belief that money has a powerful effect on output, most empirical tests of money shows relatively...
Persistent link: https://www.econbiz.de/10011583079
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Identifying the effects of monetary policy shocks in an open economy
Jacobson, Tor; Jansson, Per; Vredin, Anders; Warne, Anders - 2002
This paper presents estimates of the effects of monetary policy shocks on the Swedish economy. A theoretical model of … an open economy is used to identify a structural VAR model. The empirical results from the identified VAR model are …
Persistent link: https://www.econbiz.de/10011583125
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Tax and spending shocks in the open economy : are the deficits twins?
Klein, Mathias; Linnemann, Ludger - 2019
We present evidence on the open economy consequences of US fiscal policy shocks identified through proxy …
Persistent link: https://www.econbiz.de/10012098529
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Bayesian estimation of an open economy DSGE model with incomplete pass-through
Adolfson, Malin; Laséen, Stefan; Lindé, Jesper; … - 2005
In this paper we develop a dynamic stochastic general equilibrium (DSGE) model for an open economy, and estimate it on … Euro area data using Bayesian estimation techniques. The model incorporates several open economy features, as well as a … number of nominal and real frictions that have proven to be important for the empirical fit of closed economy models. The …
Persistent link: https://www.econbiz.de/10011583872
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Financial instability and monetary policy : the Swedish evidence
Bergman, Michael U.; Hansen, Jan - 2002
This paper examines the relationship between financial instability and monetary policy within the Swedish economy …
Persistent link: https://www.econbiz.de/10011584566