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US Monetary Policy in a Globalized World
Cuaresma, Jesús Crespo; Doppelhofer, Gernot; … - 2016
global vector autoregressive models that accounts for time-varying parameters and stochastic volatility (TVP-SV-GVAR). We … 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
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The impossible trinity (aka the policy Trilemma): The encyclopedia of financial globalization
Aizenman, Joshua - 2010
rate stability and monetary autonomy) continues to be a valid macroeconomic framework. The financial globalization during … financial globalization has been the growing exposure of developing countries to costly capital flights and deleveraging crises …
Persistent link: https://www.econbiz.de/10010288118
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China pro-growth monetary policy and its asymmetric transmission
Chen, Kaiji; Higgins, Patrick; Waggoner, Daniel F.; Zha, Tao - 2016
China monetary policy, as well as its transmission, is yet to be understood by researchers and policymakers. In the spirit of Taylor (1993, 2000), we develop a tractable framework that approximates practical monetary policy of China. The framework, grounded in relevant institutional elements,...
Persistent link: https://www.econbiz.de/10011776819
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Monetary Policy in a Small Open Economy Model: A DSGE-VAR Approach for Switzerland
Bäurle, Gregor; Menz, Tobias - 2008
We study the transmission of monetary shocks and monetary policy with a behavioral model, corrected for potential misspecification using the DSGE-VAR framework elaborated by DelNegro and Schorfheide (2004). In particular, we investigate if the central bank should react to movements in the...
Persistent link: https://www.econbiz.de/10011430077
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Monetary policy and credit demand in India and some EMEs
Padit, B. L.; Vashisht, Pankaj - 2011
Impact of changes in policy rate of interest on demand for bank credit is examined for seven emerging market economies including India for the period 2002 to 2010. Panel data techniques are used after ruling out the presence of unit roots. The results show that when other determinants, like...
Persistent link: https://www.econbiz.de/10011807662
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Banks, Financial Markets and International Consumption Risk Sharing
Leibrecht, Markus; Scharler, Johann - 2010
In this paper we empirically explore how characteristics of the domestic financial system in uence the international allocation of consumption risk using a sample of OECD countries. Our results show that the extent of risk sharing achieved does not depend on the overall development of the...
Persistent link: https://www.econbiz.de/10010294879
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Banks, Financial Markets and International Consumption Risk Sharing
Leibrecht, Markus; Scharler, Johann - 2009
In this paper we empirically explore how characteristics of the domestic financial system influence the international allocation of consumption risk using a sample of OECD countries. Our results show that the extent of risk sharing achieved does not depend on the overall development of the...
Persistent link: https://www.econbiz.de/10010294920
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Review of "Emerging Markets Resilience and Growth Amid Global Turmoil by M. Ayhan Kose and Eswar S. Prasad"
Bora Durdu, C. - 2011
Emerging Markets Resilience and Growth amid Global Turmoil provides an excellent contribution to the literature. The book covers a variety of important topics on emerging market economies and offers invaluable information for a wide range of audience; from academics to policy makers as well as...
Persistent link: https://www.econbiz.de/10010500174
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Equity capital, bankruptcy risk and the liquidity trap
Levintal, Oren - 2011
This paper explains the emergence of liquidity traps in the aftermath of large-scale financial crises, as happened in the US 1930s, Japan 1990s and recently in the US and Europe. The paper introduces a new balance sheet channel that links equity capital to the risk-free interest rate. When...
Persistent link: https://www.econbiz.de/10010335985
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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