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This paper characterises rules-based fiscal policy setting. Basically, we translate a standard monetary policy rule into a simple fiscal policy rule. We then infer on fiscal policymakers' reaction coefficients by testing the rule with GMM. Interaction is also tested directly by the inclusion of...
Persistent link: https://www.econbiz.de/10010261142
neither in the ex post nor in the ex ante view. Nevertheless, bank lending provisions became tighter and both, the demand for …
Persistent link: https://www.econbiz.de/10014293737
Trotz Fusionen und Finanzkrise hat sich im Finanzsektor wenig geändert: Der Frauenanteil in den Spitzengremien der … Finanzsektor weit mehr als die Hälfte der Beschäftigten Frauen sind, stellen sie nur 2,9 Prozent der Vorstandsmitglieder in den … großen Banken und Sparkassen und nur 2,5 Prozent dieser Posten in den großen Versicherungen. Die Finanzkrise hat hier nicht …
Persistent link: https://www.econbiz.de/10011602291
Woodford (2003) describes a popular class of neo-Wicksellian models in which monetary policy is characterized by an interest-rate rule, and the money market and financial institutions are typically not even modeled. Critics contend that these models are incomplete and unsuitable for...
Persistent link: https://www.econbiz.de/10011506662
estimated New Keynesian model with a bank. A key dimension of policy in the crisis was massive government support for banks … bank asset losses, of government support for banks, and other fiscal stimulus measures, in the EA. Our results suggest that …
Persistent link: https://www.econbiz.de/10011506754
The paper models the interaction between risk taking in the financial sector and central bank policy for the case of …
Persistent link: https://www.econbiz.de/10010264298
When agents are liquidity constrained, two options exist - sell assets or borrow. We compare the allocations arising in two economies: in one, agents can sell government (outside) bonds and in the other they can borrow by issuing (inside) bonds. All transactions are voluntary, implying no...
Persistent link: https://www.econbiz.de/10010277131
The paper models the interaction between risk taking in the financial sector and central bank policy. It shows that in … the absence of central bank intervention, the incentive of financial intermediaries to free ride on liquidity in good …
Persistent link: https://www.econbiz.de/10010427485
activities. This paper provides evidence on the link between monetary policy, commercial property prices, and bank risk taking …
Persistent link: https://www.econbiz.de/10010304726
Even though the sector of Non-bank financial intermediaries (NBFI) or shadow banks represent a large part of the …
Persistent link: https://www.econbiz.de/10010334475