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Republic of Belarus: Financial sector review and private sector financing
Gattini, Luca; Borysko, Sofia - 2018
The study assesses the macro-financial situation of Belarus. It analyses the Belarus financial sector, with a specific look at the banking sector. Moreover this study explores the private sector financing environment. In particular the study investigates the SMEs segment and looks at the needs...
Persistent link: https://www.econbiz.de/10011948362
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Financial factors in economic fluctuations
Christiano, Lawrence; Rostagno, Massimo; Motto, Roberto - 2010
We augment a standard monetary DSGE model to include a banking sector and financial markets. We fit the model to Euro Area and US data. We find that agency problems in financial contracts, liquidity constraints facing banks and shocks that alter the perception of market risk and hit financial...
Persistent link: https://www.econbiz.de/10011605238
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Monetary policy and the transformation of the banking system in Eastern Europe
Buch, Claudia M. - 1995
Persistent link: https://www.econbiz.de/10010275637
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How much does the public know about the ECB's monetary policy? Evidence from a survey of Dutch households
van der Cruijsen, Carin; Jansen, David-Jan; de Haan, Jakob - 2010
households, we investigate these questions for the case of the European Central Bank (ECB). Our findings suggest that knowledge …
Persistent link: https://www.econbiz.de/10011605311
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Monetary Ease: A Factor behind Financial Crises? Some Evidence from OECD Countries
Ahrend, Rudiger - 2008
This paper addresses the question of whether and how easy monetary policy may lead to excesses in financial and real asset markets and ultimately result in financial dislocation. It presents evidence suggesting that periods when short-term interest rates have been persistently and significantly...
Persistent link: https://www.econbiz.de/10010298580
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Optimal monetary policy in a small open economy with financial frictions
Merola, Rossana - 2010
I analyze how the introduction of financial frictions can affect the trade-off between output stabilization and inflation stability and whether, in the presence of financial frictions, the optimal outcome can be realized or approached more closely if monetary policy is allowed to react to...
Persistent link: https://www.econbiz.de/10010299951
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Optimal monetary policy with uncertainty about financial frictions
Moessner, Richhild - 2006
This paper studies optimal discretionary monetary policy in the presence of uncertainty about the degree of financial frictions. Changes in the degree of financial frictions are modelled as changes in parameters of a hybrid New-Keynesian model calibrated for the UK, following Bean, Larsen and...
Persistent link: https://www.econbiz.de/10011604685
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Monetary policy and capital regulation in the US and Europe
Cohen-Cole, Ethan; Morse, Jonathan - 2010
From the onset of the 2007-2009 crisis, the Federal Reserve and the European Central Bank have aggressively lowered … has partial control over bank regulation it can exercise regulatory lenience. Two, the Fed’s stronger output orientation …
Persistent link: https://www.econbiz.de/10011605268
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Do markets care about Central Bank governor changes? Evidence from emerging markets
Moser, Christoph; Dreher, Axel - 2007
Central bank governor changes in emerging markets may convey important signals about future monetary policy. Based on a … sovereign bond spreads to central bank governor changes. The data cover 20 emerging markets over the period 1992-2006. We find … that the replacement of a central bank governor negatively affects financial markets on the announcement day. This negative …
Persistent link: https://www.econbiz.de/10010277773
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Monetary policy and TIPS yields before the crisis
Gerlach, Stefan; Moretti, Laura - 2011
We make three points. First, the decade before the financial crisis in 2007 was characterized by a collapse in the yield on TIPS. Second, estimated VARs for the federal funds rate and the TIPS yield show that while monetary policy shocks had negligible effects on the TIPS yield, shocks to the...
Persistent link: https://www.econbiz.de/10010308552