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The interest rate and credit channels in Belgium: an investigation with micro-level firm data
Butzen, Paul; Fuss, Catherine; Vermeulen, Philip - 2001
This paper investigates the effects of monetary policy on firms' investment behaviour. The analysis relies on a comprehensive database of Belgian firms covering all sectors of economic activity and firms of all sizes. We proceed in two steps. First, we estimate a reduced-form investment equation...
Persistent link: https://www.econbiz.de/10011506540
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Firm entry, inflation and the monetary transmission mechanism
Lewis, Vivien; Poilly, Céline - 2011
This paper estimates a business cycle model with endogenous firm entry by matching impulse responses to a monetary policy shock in US data. Our VAR includes net business formation, profits and markups. We evaluate two channels through which entry may influence the monetary transmission process....
Persistent link: https://www.econbiz.de/10011506731
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How does information affect the comovement between interest rates and exchange rates?
Sánchez, Marcelo - 2006
This paper compares the link between exchange rates and interest rates under full information and two alternative asymmetric information approaches. It also distinguishes between cases of expansionary and contractionary depreciations. Full information results are not robust to the presence of...
Persistent link: https://www.econbiz.de/10011604654
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Interest rate snapback and the impacts on the Irish economy
Egan, Paul; Kenny, Eoin; O'Toole, Conor - 2023
impacts through credit markets and the real economy, separately modelling the impact on consumer, corporate and mortgage … markets. We also use micro data from the Household Finance and Consumption Survey (HFCS) to test the impact on mortgage … effects on the mortgage market and house prices as well as sizable impacts on key macroeconomic aggregates such as investment …
Persistent link: https://www.econbiz.de/10014540369
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Monetary and macroprudential policy with foreign currency loans
Brzoza-Brzezina, Michał; Kolasa, Marcin; Makarski, … - 2015
In a number of countries a substantial proportion of mortgage loans is denominated in foreign currency. In this paper …
Persistent link: https://www.econbiz.de/10011605828
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Monetary transmission mechanism in transition economies: Surveying the surveyable
MacDonald, Ronald; Égert, Balázs - 2006
This paper surveys recent advances in the monetary transmission mechanism (MTM). In particular, while laying out the functioning of the separate channels in the MTM, special attention is paid to exploring possible interrelations between different channels through which they may amplify or...
Persistent link: https://www.econbiz.de/10010322458
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China pro-growth monetary policy and its asymmetric transmission
Chen, Kaiji; Higgins, Patrick; Waggoner, Daniel F.; Zha, Tao - 2016
China monetary policy, as well as its transmission, is yet to be understood by researchers and policymakers. In the spirit of Taylor (1993, 2000), we develop a tractable framework that approximates practical monetary policy of China. The framework, grounded in relevant institutional elements,...
Persistent link: https://www.econbiz.de/10011776819
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Monetary transmission in three central European economies: Evidence from time-varying coefficient vector autoregressions
Darvas, Zsolt - 2012
We study the transmission of monetary policy to macroeconomic variables with structural time-varying coefficient vector autoregressions in the Czech Republic, Hungary and Poland, in comparison with that in the euro area. These three countries have experienced changes in monetary policy regimes...
Persistent link: https://www.econbiz.de/10010317298
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Mortgage prepayment, race, and monetary policy
Gerardi, Kristopher; Willen, Paul; Zhang, David Hao - 2021
mortgage contract designs that more directly pass through interest rate declines to borrowers can reduce racial mortgage …
Persistent link: https://www.econbiz.de/10012653488
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Determinantes de la tasa interbancaria de préstamos en Argentina
Anastasi, Alejandra; Elosegui, Pedro; Sangiácomo, Máximo - 2009
This paper analyzes the determinants of the interest rate of short-term unsecured loan inter-bank market (call) in Argentina. The results show that the heterogeneous nature of the entities, in terms of size and origin of ownership, impacts on the interest rate agreed. Other additional aspects,...
Persistent link: https://www.econbiz.de/10010325101