Showing 1 - 10 of 212
This paper explores the influence of wage and price staggering on monetary persistence. Weshow that, for plausible parameter values, wage and price staggering are complementary ingenerating monetary persistence. We do so by proposing the new measure of "quantitativeinertia," after discussing...
Persistent link: https://www.econbiz.de/10005861867
This paper investigates the transmission of monetary policy in the euro area based onthe factor augmented vector autoregressive approach of Bernanke, Boivin and Eliasz(2005) as well as on a standard VAR model. We focus on the reaction of monetaryaggregates to a one-off monetary policy shock. We...
Persistent link: https://www.econbiz.de/10005866209
A central proposition in research on the role that banks play in the transmission mechanism is that monetary policy imparts a direct impact on deposits and that deposits, insofar as they constitute the supply of loanable funds, act as the driving force of bank lending. This paper argues that the...
Persistent link: https://www.econbiz.de/10005871023
The recent global financial crisis has led central banks to rely heavily on "unconventional" monetary policies. This alternative approach to policy has generated much discussion and a heated and at times confusing debate. The debate has been complicated by the use of different definitions and...
Persistent link: https://www.econbiz.de/10009138460
Despite constituting the very heart of the monetary transmission mechanism, widespreadmisconceptions still exist regarding how monetary policy is implemented. This paperhighlights the key misconceptions in this regard and shows how they have compromised theunderstanding of important aspects of...
Persistent link: https://www.econbiz.de/10009248817
with the case of China. The paper develops an analytical frame of reference by applying the conceptual tools of the French …
Persistent link: https://www.econbiz.de/10005841462
Persistent link: https://www.econbiz.de/10005841473
gehören, nämlich den Daten zur Güterstruktur des Außenhandels. Hat sich China während der Transformation auf seine …
Persistent link: https://www.econbiz.de/10005841484