Narrow search
Showing 1 - 10 of 28,635
Cover Image
Income inequality as long-term conditioning factor of monetary transmission to bank interest rates in EA countries
Domonkos, Tomas; Fisera, Boris; Siranova, Maria - 2021
In this paper we investigate the effect of income inequality on the transmission of standard and unconventional … monetary policy shocks to bank loan rates. We hypothesize that income inequality might encapsulate important characteristics of …-2016. Our findings suggest that higher income inequality hinders the transmission of standard monetary policy to consumer loans …
Persistent link: https://www.econbiz.de/10012542278
Cover Image
Central bank policies and the debt trap
Orphanides, Athanasios; Ke, T. Tony - 2017
Monetary policy and fiscal dynamics are inexorably linked. When a government faces the risk of getting caught in a high debt trap, debt monetization may become an appealing option. However, independent central banks may be able to allay debt concerns without compromising price stability. One...
Persistent link: https://www.econbiz.de/10011749492
Cover Image
Unconventional monetary policy, bank lending, and security holdings : the yield-induced portfolio rebalancing channel
Paludkiewicz, Karol - 2018
Exploiting a granular dataset of banks' security holdings I assess the impact of unconventional monetary policy on bank lending and security holdings. Using a difference-in-differences regression setup and holding the security composition of each bank constant at its level in January 2014, well...
Persistent link: https://www.econbiz.de/10011874277
Cover Image
Income inequality as long-term conditioning factor of monetary transmission to bank rates
Domonkos, Tomas; Fisera, Boris; Siranova, Maria - In: Economic modelling 128 (2023), pp. 1-27
Persistent link: https://www.econbiz.de/10014464324
Cover Image
Does quantitative easing affect people's personal financial situation and economic inequality? : the view of the German population
Hayo, Bernd - 2021 - This version: 22 December 2020
quantitative easing (QE) on their personal financial situation and on national economic inequality. Almost 40% think that their …. Regarding economic inequality, about one-third of the population is of the opinion that QE contributes to inequality, only 10 …, the view that QE increases economic inequality in Germany is favoured by Left Party supporters, East Germans, and those …
Persistent link: https://www.econbiz.de/10013328353
Cover Image
Does quantitative easing affect people's personal financial situation and economic inequality? : the view of the German population
Hayo, Bernd - 2020 - This version: 09 May 2020
quantitative easing (QE) on their personal financial situation and on national economic inequality. Almost 40% think that their …. Regarding economic inequality, about one-third of the population is of the opinion that QE contributes to inequality, only 10 …, the view that QE increases economic inequality in Germany is favoured by Left Party supporters, East Germans, and those …
Persistent link: https://www.econbiz.de/10012215812
Cover Image
Do central banks have precautionary demands for expansions and for price stability? : theory and evidence
Cukierman, Alex; Muscatelli, V. Anton - 2002
This paper analyses the impact of asymmetric preferences with respect to inflation and output by policymakers on interest-rate reaction functions and test for their existence. A modified New Keynesian framework which makes it possible to identify the dominant type of asymmetry is developed and...
Persistent link: https://www.econbiz.de/10011410664
Cover Image
Do Central Banks Have Precautionary Demands for Expansions and for Price Stability? - Theory and Evidence
Cukierman, Alex; Muscatelli, V. Anton - 2021
This paper analyses the impact of asymmetric preferences with respect to inflation and output by policymakers on interest-rate reaction functions and test for their existence. A modified New Keynesian framework which makes it possible to identify the dominant type of asymmetry is developed and...
Persistent link: https://www.econbiz.de/10013320379
Cover Image
Scarcity effects of QE : a transaction-level analysis in the Bund market
Schlepper, Kathi; Riordan, Ryan; Hofer, Heiko; … - 2017
This paper investigates the scarcity effects of quantitative easing (QE) policies, drawing on intra-day transaction-level data for German government bonds, purchased under the Public Sector Purchase Program (PSPP) of the ECB/Eurosystem. This paper is the first to match high-frequency QE purchase...
Persistent link: https://www.econbiz.de/10011632212
Cover Image
Simple Interest Rate Rules with a Role for Money
Scharnagl, Michael - 2016
The paper analyses the performance of simple interest rate rules which feature a response to noisy observations of inflation, output and money growth. The analysis is based on a small empirical model of the hybrid New Keynesian type which has been estimated on euro area data by Stracca (2007)....
Persistent link: https://www.econbiz.de/10012991255