Similar Search Results

Berentsen, Aleksander; Kraenzlin, Sébastien; Müller, … - 2018

In response to the financial crisis of 2007/08, all major central banks decreased interest rates to historically low levels and created large excess reserves. Central bankers and academics currently discuss how to implement monetary policy, going forward. We find that paying interest on reserves...

Persistent link: https://www.econbiz.de/10011969181

On the negatives of negative interest rates and the positives of exemption thresholds

Berentsen, Aleksander; van Buggenum, Hugo; Ruprecht, Romina - 2020

Major central banks remunerate reserves at negative interest rates and it is increasingly likely that they will keep rates negative for many more years. To study the long run implications of negative rates, we construct a dynamic general equilibrium model with commercial banks funding investment...

Persistent link: https://www.econbiz.de/10012420685

Financial regulation, integration and synchronization of economic activity

Kalemli-Özcan, Sebnem; Papaioannou, Elias; Peydró, … - 2010

We investigate the effect of financial integration on the degree of international business cycle synchronization. For identfication, we use a confidential database on banks' bilateral exposure over the past three decades and employ a novel bilateral country-pair panel instrumental vari- ables...

Persistent link: https://www.econbiz.de/10010273687

A tale of four tails: Inflation, the policy rate, longer-term rates, and stock prices

Anene, Dominic; D'Amico, Stefania - 2017

We analyze empirical links between the perceived tail-risk of inflation, the policy rate, longer-term interest rates, and equity prices in the U.S. Their simultaneous changes enable us to distinguish between a systematic and "exogenous" response to monetary-policy news. And, those tail...

Persistent link: https://www.econbiz.de/10012030329

Some variables are more worthy than others: New diffusion index evidence on the monitoring of key economic indicators

Armah, Nii Ayi; Swanson, Norman - 2011

Central banks regularly monitor select financial and macroeconomic variables in order to obtain early indication of the impact of monetary policies. This practice is discussed on the Federal Reserve Bank of New York website, for example, where one particular set of macroeconomic indicators is...

Persistent link: https://www.econbiz.de/10010282848

Monetary policy under alternative exchange rate regimes in Central and Eastern Europe

Ziegler, Christina - 2012

Monetary policy in CEE is an important determinant in the wage bargaining process, because trade unions have to predict inflation as one component of future real wages. This paper scrutinizes whether countries in CEE that officially announce an inflation target are tempted to act...

Persistent link: https://www.econbiz.de/10010308235

Managing finance in emerging economies: The case of India

Sen, Sunanda - 2010

India has been experiencing rising inflows of overseas capital since the deregulation of its financial sector. Often looked upon as a success story among other emerging economies, the country has been subject to pitfalls and trilemmas that deserve attention. It has been officially recognized by...

Persistent link: https://www.econbiz.de/10010286487

Navigating the trilemma: Capital flows and monetary policy in China

Glick, Reuven; Hutchison, Michael - 2008

In recent years China has faced an increasing trilemmahow to pursue an independent domestic monetary policy and limit … impact of the trilemma on China's monetary policy as the country liberalizes its goods and financial markets and integrates … with the world economy. It shows how China has sought to insulate its reserve money from the effects of balance of payments …

Persistent link: https://www.econbiz.de/10010285345

Managing global financial flows at the cost of national autonomy: China and India

Sen, Sunanda - 2012

Persistent link: https://www.econbiz.de/10010318671

Assessing Central Bank Credibility During the EMS Crises : Comparing Option and Spot Market-Based Forecasts

Haas, Markus; Mittnik, Stefan; Mizrach, Bruce - 2004

Financial markets embed expectations of central bank policy into asset prices. This paper compares two approaches that extract a probability density of market beliefs. The first is a simulated moments estimator for option volatilities described in Mizrach (2002); the second is a new approach...

Persistent link: https://www.econbiz.de/10010263203

1
2
3
4
5
6
7
8
9
10
Next
Last