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Endogenous debt maturity : liquidity risk vs. default risk

Manuelli, Rodolfo E.; Sanchez, Juan M. - 2018

Persistent link: https://www.econbiz.de/10011950510

Welfare-enhancing inflation and liquidity premia

Andolfatto, David; Martin, Fernando M. - 2023

Persistent link: https://www.econbiz.de/10014249266

Liquidity premiums on government debt and the fiscal theory of the price level

Berentsen, Aleksander; Waller, Christopher - 2017

lending arrangements. If the collateral constraint binds, agents price in a liquidity premium on bonds that lowers the real … rate on bonds. In equilibrium, the price level is determined according to the fiscal theory of the price level. However … or spending. The price dynamics are driven solely by the liquidity premium on the debt …

Persistent link: https://www.econbiz.de/10011691217

Systematic liquidity risk premia

Boyle, Glenn W.; Hong, Sanghyun - 2020

Persistent link: https://www.econbiz.de/10012426832

Central bank exit strategies : domestic transmission and international spillovers

Erceg, Christopher J.; Kolasa, Marcin; Lindé, Jesper; … - 2024 - This version: April 3, 2024

We study alternative approaches to the withdrawal of prolonged unconventional monetary stimulus ("exit strategies") by central banks in large, advanced economies. We first show empirically that large-scale asset purchases affect the exchange rate and domestic and foreign term premiums more...

Persistent link: https://www.econbiz.de/10015066986

Monetary policy and risk taking

Angeloni, Ignazio; Faia, Ester; Lo Duca, Marco - 2010 - This draft: December 2011

We assess, through VAR evidence, the effects of monetary policy on banks' risk exposure and find the presence of a risk-taking channel. A model combining fragile banks prone to risk mis-incentives and credit constrained firms, whose collateral fluctuations generate a balance sheet channel, is...

Persistent link: https://www.econbiz.de/10009772705

Balance sheet policies and Central Bank losses in a HANK model

Labrousse, Charles; Perdereau, Yann - 2024

Persistent link: https://www.econbiz.de/10014532370

Monetary policy, the tax code, and the real effects of energy shocks

Gavin, William T.; Keen, Benjamin D.; Kydland, Finn E. - 2013

Persistent link: https://www.econbiz.de/10009768053

Temporary price changes and the real effects of monetary policy

Kehoe, Patrick J. (contributor); … - 2008

In the data, a large fraction of price changes are temporary. We provide a simple menu cost model which explicitly includes a motive for temporary price changes. We show that this simple model can account for the main regularities concerning temporary and permanent price changes. We use the...

Persistent link: https://www.econbiz.de/10003722992

Interest rate pass-through, monetary policy rules and macroeconomic stability

Kwapil, Claudia; Scharler, Johann - 2006

Persistent link: https://www.econbiz.de/10003318701