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Would a Stricter Fed Policy and Financial Regulation Have Averted the Financial Crisis?
Gokhale, Jagadeesh - 2009
Many commentators have argued that if the Federal Reserve had followed a stricter monetary policy earlier this decade when the housing bubble was forming, and if Congress had not deregulated banking but had imposed tighter financial standards, the housing boom and bust - and the subsequent...
Persistent link: https://www.econbiz.de/10013155688
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The real-time predictive content of asset price bubbles for macro forecasts
Beckers, Benjamin - 2015
This paper contributes to the debate of whether central banks can \lean against the wind" of emerging stock or house price bubbles. Against this background, the paper evaluates if new advances in real-time bubble detection, as brought forward by Phillips et al. (2011), can timely detect bubble...
Persistent link: https://www.econbiz.de/10011300629
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Explaining and Forecasting Bank Loans. Good Times and Crisis
Levieuge, Grégory - 2015
This paper aims to develop a parsimonious model to explain and forecast bank loans to non-financial companies during calm periods as well as in situations of financial turmoil. In doing so, we are led to gauge the marginal informational content of simple leading indicators, and to investigate...
Persistent link: https://www.econbiz.de/10013016882
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Measuring Real and Financial Cycles in Luxembourg : An Unobserved Components Approach
Guarda, Paolo - 2020
We use unobserved components time series models to extract real and financial cycles for Luxembourg over the period 1980Q1-2018Q2. We find that financial cycles are longer and have larger amplitude compared to standard business cycles. Furthermore, financial cycles are highly correlated with...
Persistent link: https://www.econbiz.de/10012827526
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Compression in monetary user costs in the aftermath of the financial crisis : implications for the Divisia M4 monetary aggregate
Mattson, Ryan S.; Valcarcel, Victor J. - In: Applied economics letters 23 (2016) 16/18, pp. 1294-1300
Persistent link: https://www.econbiz.de/10011702545
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A model of monetary policy shocks for financial crises and normal conditions
Smith, Andrew Lee; Keating, John W.; Kelly, Logan J.; … - Federal Reserve Bank of Kansas City - 2014
aftermath of the 2008 financial crisis. One of our most important innovations is to utilize the Divisia M4 index of money as the …
Persistent link: https://www.econbiz.de/10011171344
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Was riet der Rat? : eine kommentierte Zusammenstellung von Aussagen des Sachverständigenrats zur Regulierung der Finanzmärkte und zugleich eine Chronik der Entstehung der Krise
Wienert, Helmut - 2009
(SVR) bezüglich der Stabilität der Finanzmärkte. Die systemischen Risiken von Finanzmärkten werden vom SVR klar … angesprochen, die Notwendigkeit einer staatlichen Regulierung wird stets betont. Bis zum Ausbruch der Krise zeigt der SVR …This paper examines the conclusions of the German Council of Economic Experts (SVR) with regard to the stability of …
Persistent link: https://www.econbiz.de/10010357162
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Systemic risk and the refinancing ratchet effect
Khandani, Amir E.; Lo, Andrew W.; Merton, Robert C. - 2009 - This draft: September 13, 2009
The confluence of three trends in the U.S. residential housing market - rising home prices, declining interest rates, and near-frictionless refinancing opportunities - led to vastly increased systemic risk in the financial system. Individually, each of these trends is benign, but when they occur...
Persistent link: https://www.econbiz.de/10003889053
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A financial conditions index for the United States
Beaton, Kimberly; Lalonde, René; Luu, Corinne - 2009
The financial crisis of 200709 has highlighted the importance of developments in financial conditions for real economic activity. The authors estimate the effect of current and past shocks to financial variables on U.S. GDP growth by constructing two growthbased financial conditions indexes...
Persistent link: https://www.econbiz.de/10003933229