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Federal Reserve Policy viewed through a Money Supply Loss

Chowdhury, Ibrahim; Schabert, Andreas - Tinbergen Institute - 2008

Federal Reserve nonborrowed reserve supply systematically responded to changes in inflation and in the output gap over … inflation varies considerably across time. Nonborrowed reserves decreased with inflation in the post-1979 period and increased …

Persistent link: https://www.econbiz.de/10005144402

Federal Reserve Policy viewed through a Money Supply Loss

Chowdhury, Ibrahim; Schabert, Andreas - Tinbergen Instituut - 2008

Persistent link: https://www.econbiz.de/10011256606

Optimal Central Bank Lending

Schabert, Andreas - Tinbergen Institute - 2010

We analyze optimal monetary policy in a sticky price

Persistent link: https://www.econbiz.de/10008838555

Optimal Central Bank Lending

Schabert, Andreas - Tinbergen Instituut - 2010

We analyze optimal monetary policy in a sticky pricemodel where the central bank supplies money outrightvia asset purchases and lends money temporarily againstcollateral. The terms of central bank lending affect ra-tioning of money and impact on macroeconomic aggre-gates. The central bank can...

Persistent link: https://www.econbiz.de/10011257591

On the Relevance of Open Market Operations

Schabert, Andreas - 2004

This paper reexamines the role of open market operations for short-run effects of monetary policy. Money demand is induced by a cash constraint, while the central bank supplies money exclusively in exchange for securities, discounted with a short-run nominal interest rate. We consider a legal...

Persistent link: https://www.econbiz.de/10012738649

Fiscal Policy, Sovereign Default, and Bailouts

Juessen, Falko; Schabert, Andreas - Institute for the Study of Labor (IZA) - 2013

This paper examines fiscal policy without commitment and the effects of conditional bailout loans. The government relies on distortionary taxation and decides between full debt repayment and costly default. It tends to overborrow due to myopia, which induces default to be a relevant policy...

Persistent link: https://www.econbiz.de/10010884292

Inflation dynamics and the cost channel of monetary transmission

Chowdhury, Ibrahim; Hoffmann, Mathias; Schabert, Andreas - Institut für Finanzmarktforschung, Wirtschafts- und … - 2004

examine the relevance of the cost channel for inflation dynamics in G7 countries. Since firms' costs of working capital … inflation responses to monetary policy shocks, and can even lead to inverse inflation responses, when the cost channel is …

Persistent link: https://www.econbiz.de/10010957182

On the Relevance of Open Market Operations

Schabert, Andreas - HWWA Institut für Wirtschaftsforschung - 2004

Persistent link: https://www.econbiz.de/10010957455

Productive Government Expenditure in Monetary Business Cycle Models

Linnemann, Ludger; Schabert, Andreas - Tinbergen Instituut - 2005

are partially financed by public debt, unit labor costs fall in response to a fiscal expansion, such that inflation tends … rate rises with inflation. Otherwise, private consumption can also be crowded-out, as in the conventional case where …

Persistent link: https://www.econbiz.de/10011255722

Debt Non-Neutrality, Policy Interactions, and Macroeconomic Stability

Linnemann, Ludger; Schabert, Andreas - Tinbergen Instituut - 2005

requires a stationary evolution of real public debt, which steers inflation expectations and rules out endogenous fluctuations …-push shocks, such that output and inflation variances can be lower than in a corresponding case where debt is neutral. …

Persistent link: https://www.econbiz.de/10011255848