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Modeling Monetary Policy
Reynard, Samuel; Schabert, Andreas - 2009
conditions, i.e. the varying liquidity value ofeligible assets and the associated risk. This induces a liquiditypremium, which …
Persistent link: https://www.econbiz.de/10010325945
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Liquidity, inflation and asset prices in a time-varying framework for the euro area
Baumeister, Christiane; Durinck, Eveline; Peersman, Gert - 2008
In this paper, we investigate how the dynamic effects of excess liquidity shocks on economic activity, asset prices and … inflation differ over time. We show that the impact varies considerably over time, depends on the source of increased liquidity …
Persistent link: https://www.econbiz.de/10011506663
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Expectations, monetary policy, and labor markets: lessons from the Great Depression
Reicher, Christopher Phillip - 2009
This paper estimates a series of shocks to hit the US economy during the Great Depression, using a New Keynesian model with unemployment and bargaining frictions. Shocks to long-run inflation expectations appear to account for much of the cyclical behavior of employment, while an increase in...
Persistent link: https://www.econbiz.de/10010276373
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Preisschock gefährdet Erholung der deutschen Wirtschaft
Drygalla, Andrej; Exß, Franziska; Heinisch, Katja; … - In: Konjunktur aktuell 10 (2022) 1, pp. 2-32
Der Angriff Russlands auf die Ukraine hat die wirtschaftlichen Rahmenbedingungen in Europa drastisch verschlechtert. Die Preise für Rohstoffe und Energie und hier besonders für Erdgas sind stark gestiegen, die Sanktionen bringen den Handel mit Russland, der über Energielieferungen hinausgeht,...
Persistent link: https://www.econbiz.de/10013170235
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Krieg treibt Energiepreise: Hohe Inflation belastet Konjunktur
Drygalla, Andrej; Exß, Franziska; Heinisch, Katja; … - In: Konjunktur aktuell 10 (2022) 2, pp. 36-65
Die weltwirtschaftliche Erholung verlief bereits zu Beginn des Jahres gedämpft, und auch im Sommerhalbjahr ist die Weltwirtschaft verschiedenen schweren Belastungen ausgesetzt, die die Preise stark steigen lassen. Erneute Produktionsstilllegungen im Zuge der chinesischen Null-Covid-Strategie...
Persistent link: https://www.econbiz.de/10013280214
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Energiekrise in Deutschland
Drygalla, Andrej; Exß, Franziska; Heinisch, Katja; … - In: Konjunktur aktuell 10 (2022) 3, pp. 68-97
weitere Zentralbanken veranlasst, mit einer Straffung ihrer Geldpolitik zu beginnen. Zudem ist seit dem Ausbruch des Ukraine …
Persistent link: https://www.econbiz.de/10013368856
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Another look at yield spreads: Monetary policy and the term structure of interest rates
Kim, Dong-heon - 1998
Liquidity plays an important role in explaining how banks determine their allocation of funds. This paper analyses … liquidity in a manner similar to that used to study household need for liquidity, namely, by using a cash-in-advance type model … maintained hypothesis concerning the liquidity premium and default risk premium. This paper confirms the finding that monetary …
Persistent link: https://www.econbiz.de/10010301772
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Money markets, collateral and monetary policy
De Fiore, Fiorella; Hoerova, Marie; Uhlig, Harald - 2019
number of occasionally binding constraints. The interactions between these constraints - in particular leverage and liquidity …. If the liquidity constraint is very tight, the leverage constraint may turn slack. In this case, there are large declines …
Persistent link: https://www.econbiz.de/10012142083
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The role of real wage rigidity and labor market frictions for unemployment and inflation dynamics
Christoffel, Kai; Linzert, Tobias - 2006
In this paper we incorporate a labor market with matching frictions and wage rigidities into the New Keynesian business cycle model. In particular, we analyze the effect of a monetary policy shock and investigate how labor market frictions affect the transmission process of monetary policy. The...
Persistent link: https://www.econbiz.de/10010295799
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The role of real wage rigidity and labor market frictions for unemployment and inflation dynamics
Christoffel, Kai; Linzert, Tobias - 2005
In this paper we incorporate a labor market with matching frictions and wage rigidities into the New Keynesian business cycle model. In particular, we analyze the effect of a monetary policy shock and investigate how labor market frictions affect the transmission process of monetary policy. The...
Persistent link: https://www.econbiz.de/10011604602