Narrow search
Showing 1 - 10 of 1,367
Cover Image
Stabilization policy in a two country model and the role of financial frictions
Faia, Ester - 2001
Persistent link: https://www.econbiz.de/10001590832
Cover Image
Leaning against the global financial cycle
Ferrero, Andrea; Habib, Maurizio Michael; Stracca, Livio; … - 2022
We study the role and the interaction of the quality of institutions and of counter-cyclical policies in leaning against the Global Financial Cycle (GFC) in Emerging Economies (EMEs). We show that heteroegeneity in institutional strength is a key determinant of the different effects of the GFC...
Persistent link: https://www.econbiz.de/10013488632
Cover Image
Global financial transmission of monetary policy shocks
Ehrmann, Michael (contributor);  … - 2006
The paper shows that US monetary policy has been an important determinant of global equity markets. Analysing 50 equity markets worldwide, we find that returns fall on average around 3.8% in response to a 100 basis point tightening of US monetary policy, ranging from a zero response in some to a...
Persistent link: https://www.econbiz.de/10003320671
Cover Image
Monetary policy spillovers, capital controls and exchange rate flexibility, and the financial channel of exchange rates
Georgiadis, Georgios; Zhu, Feng - 2019
We assess the empirical validity of the trilemma (or impossible trinity) in the 2000s for a large sample of advanced and emerging economies. To do so, we estimate Taylor-rule type monetary policy reaction functions, relating the local policy rate to real-time forecasts of domestic fundamentals,...
Persistent link: https://www.econbiz.de/10011997477
Cover Image
Global impacts of US monetary policy uncertainty shocks
Lastauskas, Povilas; Nguyen, Anh D. M. - 2021
We build a new empirical model to estimate the global impact of an increase in the volatility of US monetary policy shocks. Specifically, we admit time-varying variances of local structural shocks from a stochastic volatility specification. By allowing for rich dynamic interaction between the...
Persistent link: https://www.econbiz.de/10012418859
Cover Image
Financial globalisation, monetary policy spillovers and macro-modelling : tales from 1001 shocks
Georgiadis, Georgios; Jančoková, Martina - 2017
data on monetary policy shock estimates for 29 economies obtained from more than 280 monetary models in the literature …. Consistent with the predictions from our hypothesis we find: Monetary policy shock estimates obtained from New Keynesian DSGE … contamination is more severe for economies that are more susceptible to financial spillovers in the data; and the shock estimates …
Persistent link: https://www.econbiz.de/10011664579
Cover Image
Monetary policy and its transmission in a globalised world
Ca'Zorzi, Michele; Dedola, Luca; Georgiadis, Georgios; … - 2020
This paper estimates and compares the international transmission of European Central Bank (ECB) and Federal Reserve System monetary policy in a unified and methodologically consistent framework. It identifies pure monetary policy shocks by purging them of the bias stemming from contemporaneous...
Persistent link: https://www.econbiz.de/10012216473
Cover Image
Monetary conservatism and fiscal policy
Adam, Klaus (contributor); Billi, Roberto M. (contributor) - 2006
Does an inflation conservative central bank à la Rogoff (1985) remain desirable in a setting with endogenous fiscal policy? To provide an answer we study monetary and fiscal policy games without commitment in a dynamic stochastic sticky price economy with monopolistic distortions. Monetary...
Persistent link: https://www.econbiz.de/10003358641
Cover Image
The exchange rate insulation puzzle
Corsetti, Giancarlo; Küster, Keith; Müller, Gernot J.; … - 2021
We confront the notion that flexible rates insulate a country from external disturbances with new evidence on spillovers from euro-area shocks to neighboring countries. We find that in response to euro-area shocks, spillovers are not smaller, and currency movements not significantly larger, in...
Persistent link: https://www.econbiz.de/10012705556
Cover Image
What drives business cycles and international trade in emerging market economies?
Sánchez, Marcelo (contributor) - 2007
This paper investigates the role of domestic and external factors in explaining business cycle and international trade developments in fifteen emerging market economies. Results from signrestricted VARs show that developments in real output, inflation, real exchange rates and international trade...
Persistent link: https://www.econbiz.de/10003422818