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The macro view
Balling, Morten (ed.); Berk, Jan Marc (ed.);  … - Colloquium The Quest for Stability <2009, Utrecht>; … - 2010
On September 3-4, 2009, SUERF and Utrecht University School of Economics jointly organized the 28th SUERF Colloquium on "The Quest for Stability" in Utrecht, the Netherlands. The papers contained in this SUERF Study jointly published with DNB and Rabobank are based on contributions to this...
Persistent link: https://www.econbiz.de/10011706504
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Asset-liability management with ultra-low interest rates
Grossman, Richard S.; Molyneux, Philip; Lambert, Frederic; … - Conference on Asset-Liability Management with Ultra-Low …; … - 2015
On 11 March 2015, SUERF jointly organised a conference with the Oesterreichische Nationalbank and the Austrian Society for Bank Research (Bankwissenschaftliche Gesellschaft - BWG). The present SUERF Study 2015/2 includes a selection of papers based on the authors' contributions to the Vienna...
Persistent link: https://www.econbiz.de/10011413495
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Why Central Banks Should Not Burst Bubbles
Posen, Adam S. - 2006
Central banks should not be in the business of trying to prick asset price bubbles. Bubbles generally arise out of some … bubbles and more of the third in real estate booms). Accordingly, the connection between monetary conditions and the rise of … bubbles is rather tenuous, and anything short of inducing a recession by tightening credit conditions prohibitively is …
Persistent link: https://www.econbiz.de/10014059767
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The evolving postcrisis world
Grenville, Stephen A. - 2010
A crisis provides an opportunity to examine how an economy works under pathological conditions. What are the lessons? Markets work well most of the time. That said, the global financial crisis has weakened faith in the market's self-equilibrating qualities. Fiscal policy works well to offset...
Persistent link: https://www.econbiz.de/10008658819
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On the nexus of monetary policy and financial stability : recent developments and research
Kryvtsov, Oleksiy; Molico, Miguel; Tomlin, Ben - 2015
Because financial and macroeconomic conditions are tightly interconnected, financial stability considerations are an important element of any monetary policy framework. Yet, the circumstances under which it would be appropriate for the Bank to use monetary policy to lean against financial risks...
Persistent link: https://www.econbiz.de/10011341762
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Financial stability, monetary policy, banking supervision, and central banking
Hellwig, Martin - 2014
The paper gives an overview over issues concerning the role of financial stability in monetary policy and the relation between banking supervision and central banking. Following a brief account of developments in the European Monetary Union since its creation, the systematic treatment contains...
Persistent link: https://www.econbiz.de/10010384807
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Leaning within a flexible inflation-targeting framework : review of costs and benefits
Gorea, Denis; Kryvtsov, Oleksiy; Takamura, Tamon - 2016
This note examines the merits of monetary policy adjustments in response to financial stability concerns, taking into account changes in the state of knowledge since the renewal of the inflation-targeting agreement in 2011. A key financial system vulnerability in Canada is elevated household...
Persistent link: https://www.econbiz.de/10011530245
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Monetary shocks and stock returns : identification through the impossible trinity
Ozdagli, Ali; Yu, Yifan - 2012
This paper attempts to identify how monetary policy shocks affect stock prices by using Mundell and Fleming's theory of the "Impossible Trinity". According to this theory, it is impossible to simultaneously have a fixed exchange rate, free capital movement (an absence of capital controls), and...
Persistent link: https://www.econbiz.de/10009681235
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Investor Sentiment and the Stock Market’s Reaction to Monetary Policy
Kurov, Alexander - 2011
This paper shows that monetary policy decisions have a significant effect on investor sentiment. The effect of monetary news on sentiment depends on market conditions (bull versus bear market). We also find that monetary policy actions in bear market periods have a larger effect on stocks that...
Persistent link: https://www.econbiz.de/10013134559
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Monetary Policy Shocks and Stock Returns : Identification Through Impossible Trinity
Ozdagli, Ali K. - 2013
This paper aims to identify the effect of monetary policy shocks on stock prices through the lens of Mundell and Fleming's “Impossible Trinity” theory. Our identification strategy seeks to solve the simultaneity and omitted variable problems inherent in studies that focus on the effect of...
Persistent link: https://www.econbiz.de/10013092409