international financial system. Eventually the Bundesbank provided the role model for the European Central Bank. Hence, we examine … policy over the period 1975-1998. We compare the Bundesbank's monetary policy rule with those of the FED and of the Bank of …

Macroprudential policies are often aimed at the commercial banking sector, while a host of other non-bank financial … institutions, or shadow banks, may not fall under their jurisdiction. We study the effects of tightening commercial bank regulation … requirements on commercial banks increase shadow bank lending, which may have adverse financial stability effects. Coordinating …

in central bank communication to help measure stress in financial markets. For use in real time, the indicator is able to …. - Financial stress ; central bank communication ; logit distribution ; leading indicator ; behavioural finance …

tools, their content and the environment in which they are employed. - Central bank ; financial stability ; communication …

In a stochastic pure endowment economy with money but no financial markets, two types of agents trade one non … money partition dynamics that the two variants generate absent any macroeconomic shock, exhibit jumps as well as fat …

financial account implications of CBDC with the ones of crypto assets, Stablecoins, and narrow bank digital money, in a domestic … merits of central bank digital currencies (CBDC) accessible to the broad public. This paper first reviews the advantages and … of banks and centralization of the credit allocation process within the central bank and (ii) risk of facilitation …