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Loan supply shocks and the business cycle

Gambetti, Luca; Musso, Alberto - 2012

Persistent link: https://www.econbiz.de/10009765139

Asymmetries in the transmission of monetary policy shocks over the business cycle : a Bayesian Quantile Factor Augmented VAR

Velasco, Sofia - 2024

-linearities in impulse responses. Analysis of aggregate responses to a contractionary monetary policy shock reveals that financial …, employing sectoral prices and quantities, demonstrates that during recessions, the contractionary policy shock results in a more …

Persistent link: https://www.econbiz.de/10015176916

Macroeconomic uncertainty and the impact of oil shocks

Van Robays, Ine - 2012

Persistent link: https://www.econbiz.de/10009765961

How does monetary policy affect income and wealth inequality? : evidence from quantitative easing in the euro area

Lenza, Michele; Slacalek, Jirka - 2018

This paper studies the effects of quantitative easing on income and wealth of individual euro area households. The aggregate effects of quantitative easing are estimated in a multi-country VAR model of the four largest euro area countries, in which key variables affecting household income and...

Persistent link: https://www.econbiz.de/10011921470

Monetary policy transmission over the leverage cycle : evidence for the euro area

Bräuer, Leonie; Rünstler, Gerhard - 2020

We study state dependence in the impact of monetary policy shocks over the leverage cycle for a panel of 10 euro area countries. We use a Bayesian Threshold Panel SVAR with regime classifications based on credit and house prices cycles. We find that monetary policy shocks trigger a smaller...

Persistent link: https://www.econbiz.de/10012241107

Financial drivers of the euro area business cycle : a DSGE-based approach

Hirschbühl, Dominik; Krustev, Georgi; Stoevsky, Grigor - 2020

We estimate a modified version of the "Financial Business Cycles" model originally developed by Iacoviello (2015) in order to investigate the role played by financial factors in driving the business cycle in the euro area. In the model, financial shocks such as borrower defaults, collateral...

Persistent link: https://www.econbiz.de/10012299080

Spillover effects in international business cycles

Camacho, Maximo; Pacce, Matías; Pérez-Quirós, Gabriel - 2020

To analyze the international transmission of business cycle fluctuations, we propose a new multilevel dynamic factor model with a block structure that (i) does not restrict the factors to being orthogonal and (ii) mixes data sampled at quarterly and monthly frequencies. By means of Monte Carlo...

Persistent link: https://www.econbiz.de/10012305394

US monetary policy is more powerful in low economic growth regimes

De Santis, Roberto A.; Tornese, Tommaso - 2024

We use nonlinear empirical methods to uncover non-linearities in the propagation of monetary policy shocks. We find that the transmission on output, goods prices and asset prices is stronger in a low growth regime, contrary to the findings of Tenreyro and Thwaites (2016). The impact is stronger...

Persistent link: https://www.econbiz.de/10014507165

Pollution havens? : carbon taxes, globalization, and the geography of emissions

Schroeder, Christofer; Stracca, Livio - 2023

This paper studies the impact of national carbon taxes on CO2 emissions. To do so, we run local projections on a cross-country panel dataset, matching measures of emissions of carbon dioxide with information on the introduction of carbon taxes and their implied price. Importantly, we consider...

Persistent link: https://www.econbiz.de/10014481125

Equilibrium unemployment, job flows and inflation dynamics

Trigari, Antonella - 2004

application of the minimum distance estimation. The estimated model can explain the cyclical behavior of employment, hours per … worker, job creation and job destruction conditional on a shock to monetary policy. Moreover, allowing for variation of the … helps to explain the sluggishness of inflation and the persistence of output after a monetary policy shock. The ability of …

Persistent link: https://www.econbiz.de/10009636527