Narrow search
Showing 1 - 10 of 615
Cover Image
Open mouth operations
Campbell, Jeffrey R.; Weber, Jacob P. - 2018
We examine the standard New Keynesian economy's Ramsey problem written in terms of instrument settings instead of allocations. Its standard formulation makes two instruments available: the path of current and future interest rates, and an "open mouth operation" which selects one of the many...
Persistent link: https://www.econbiz.de/10012030346
Cover Image
Monetary Policy and Swedish Unemployment Fluctuations
Alexius, Annika; Holmlund, Bertil - 2007
preferred model, almost 30 percent of the maximum effect of a shock still remains after ten years. …
Persistent link: https://www.econbiz.de/10010321638
Cover Image
Alternative Indicator of Moneary Policy for a Small Open Economy
Cuche, Nicolas A. - 2000
We analyze several identification frameworks based on operating procedures to measure monetary policy in a small open economy. We use a two-stage non-recursive VAR model to identify monetary shocks. We construct then various overall monetary policy indicators based on different residuals...
Persistent link: https://www.econbiz.de/10011430022
Cover Image
US Monetary Policy in a Globalized World
Cuaresma, Jesús Crespo; Doppelhofer, Gernot; … - 2016
find that a contractionary US monetary policy shock leads to a persistent fall in international output, a drop in global … negative shock to foreign real GDP growth. …
Persistent link: https://www.econbiz.de/10013370122
Cover Image
Monetary policy and Swedish unemployment fluctuations
Alexius, Annika; Holmlund, Bertil - 2008
preferred model, almost 30 percent of the maximum effect of a shock still remains after ten years. …
Persistent link: https://www.econbiz.de/10010317906
Cover Image
Macroeconomic implications of financial imperfections: A survey
Claessens, Stijn; Kose, M. Ayhan - 2017
changes in financial intermediaries' balance sheets for the supply of credit, liquidity and asset prices, and, consequently …
Persistent link: https://www.econbiz.de/10012060201
Cover Image
Credit crunches and credit allocation in a model of entrepreneurship
Bassetto, Marco; Cagetti, Marco; De Nardi, Mariacristina - 2013
We study the effects of credit shocks in a model with heterogeneous entrepreneurs, financing constraints, and a … shocks have a very persistent effect on real activity. In determining the speed of recovery from an adverse economic shock …, the most important factor is the extent to which the shock erodes entrepreneurial wealth. …
Persistent link: https://www.econbiz.de/10010352175
Cover Image
Creditor Protection and Financial Cycles
Galindo, Arturo; Micco, Alejandro - 2001
We develop a model in which the elasticity of credit to exogenous shocks depends on creditor rights regulations. We … show that an increase in creditor protection reduces the elasticity of credit supply to exogenous shocks, and hence the … amplitude of the credit cycle. Using an extended set of a measure of creditor rights protection in the spirit of La Porta et al …
Persistent link: https://www.econbiz.de/10010327111
Cover Image
Managing Beliefs about Monetary Policy under Discretion
Mertens, Elmar - 2008
Monetary policy is most effective when public beliefs about future policies are actively managed. This is the appeal of policy rules and commitment strategies, typically absent under discretion. But when a policymaker has some private information - as is the case in reality - belief management...
Persistent link: https://www.econbiz.de/10011430072
Cover Image
Financial stability considerations for monetary policy: Theoretical mechanisms
Ajello, Andrea; Boyarchenko, Nina; Gourio, François; … - 2022
. Moreover, financial vulnerabilities amplify the effects of adverse shocks to the economy, so that even a small shock to … fundamentals or a small revision of beliefs can create a self-reinforcing feedback loop that impairs credit provision, lowers asset …
Persistent link: https://www.econbiz.de/10012888656