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Short-term monitoring of fiscal policy discipline

Camba-Mendez, Gonzalo (contributor); Lamo, Ana (contributor) - 2002

Persistent link: https://www.econbiz.de/10001702787

Expectations-driven liquidity traps : implications for monetary and fiscal policy

Nakata, Taisuke; Schmidt, Sebastian - 2019

can give rise to persistent liquidity trap episodes. Unlike in the case of fundamental-driven liquidity traps, there is no …-driven liquidity traps. Raising the in ation target or appointing an in ation-conservative central banker improves in ation outcomes … sufficiently less concerned with government spending stabilization than society can eliminate expectations-driven liquidity traps …

Persistent link: https://www.econbiz.de/10012037377

Convex supply curves

Boehm, Christoph E.; Pandalai-Nayar, Nitya - 2020

We provide evidence that industries' supply curves are convex. To guide our empirical analysis, we develop a model, in which capacity constraints at the plant level generate convex supply curves at the industry level. The industry's capacity utilization rate is a sufficient statistic for the...

Persistent link: https://www.econbiz.de/10012271523

Dynamic fiscal limits and monetary-fiscal policy interactions

Battistini, Niccolò; Callegari, Giovanni; Zavalloni, Luca - 2019

This paper analyzes the impact of monetary policy on public debt sustainability through the lens of a general equilibrium model with fiscal limits. We find that the mere possibility of a binding ZLB may have detrimental effects on debt sustainability, as a kink in the Laffer curve induces a...

Persistent link: https://www.econbiz.de/10011997483

Tight money - tight credit : coordination failure in the conduct of monetary and financial policies

Carrillo, Julio A.; Mendoza, Enrique G.; Nuguer, Victoria; … - 2018

Quantitative analysis of a New Keynesian model with the Bernanke-Gertler accelerator and risk shocks shows that violations of Tinbergen's Rule and strategic interaction between policymaking authorities undermine significantly the effectiveness of monetary and financial policies. Separate...

Persistent link: https://www.econbiz.de/10011792182

Designing QE in a fiscally sound monetary union

Bletzinger, Tilman; Thadden, Leopold von - 2018

This paper develops a tractable model of a monetary union with a sound fiscal governance structure and shows how in such environment the design of monetary policy above and at the lower bound constraint on short-term interest rates can be linked to well-known findings from the literature dealing...

Persistent link: https://www.econbiz.de/10011856536

Negative interest rates, excess liquidity and retail deposits : banks' reaction to unconventional monetary policy in the euro area

Demiralp, Selva; Eisenschmidt, Jens; Vlassopoulos, Thomas - 2019

’ funding structures jointly with that in their excess liquidity holdings. We find evidence that banks highly exposed to the …, importantly, the explicit consideration of the role of excess liquidity in our analysis. …

Persistent link: https://www.econbiz.de/10012009191

Credit risk transfers and the macroeconomy

Faia, Ester - 2010

credit risk transfer. The possibility of transferring credit reduces the impact of liquidity shocks on bank balance sheets … risk. - Credit risk transfer ; dual moral hazard ; monetary policy ; liquidity ; welfare …

Persistent link: https://www.econbiz.de/10008688526

Dual liquidity crises under alternative monetary frameworks : a financial accounts perspective

Bindseil, Ulrich; Winkler, Adalbert - 2012

Persistent link: https://www.econbiz.de/10009765962

Central bank liquidity provision, risk-taking and economic efficiency

Bindseil, Ulrich; Jabłecki, Juliusz - 2013

Persistent link: https://www.econbiz.de/10009766427

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