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The balance sheet channel of monetary policy transmission : evidence from Nigeria
Olowofeso, Olorunsola E.; Bada, Abiodun S.; Bassey, Kufre J. - In: CBN journal of applied statistics 5 (2014) 2, pp. 95-116
This paper assesses the existence of a balance sheet channel of monetary policy transmission in Nigeria by examining … channel in Nigeria with a significant impact of DMBs balance sheet composition on output growth and price. However, output and …
Persistent link: https://www.econbiz.de/10011489517
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Inflation Targeting and Financial Stability : Providing Policymakers with Relevant Information
Vredin, Anders - 2015
appropriate analytical approach. The paper starts with a discussion of the strategy of "flexible inflation targeting", which, in … analyses of links between financial stability and monetary policy. Insights from inflation targeting, and more recent views on …
Persistent link: https://www.econbiz.de/10013019611
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Inflation Targeting and Financial Conditions : UK Monetary Policy during the Great Moderation and Financial Crisis
Zhu, Sheng; Kavanagh, Ella; O'Sullivan, Niall - 2021
by using the BoE’s own inflation projections in our estimations. Also, we develop a novel measure of the output gap to … that feature in the Inflation Report. Our study provides some new insights into the BoE’s monetary policy behaviour. We … conditions and relatively more to inflation projections when the 2008-9 Global Financial Crisis and Great Recession period is …
Persistent link: https://www.econbiz.de/10013247359
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Interest-rate pegs, central bank asset purchases and the reversal puzzle
Gerke, Rafael; Giesen, Sebastian; Kienzler, Daniel; … - 2017
agents' inflation expectations are influenced by a monetary authority which follows a price-level-targeting rule instead of a …
Persistent link: https://www.econbiz.de/10011671387
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Trade-offs between inflation targeting and financial stability objectives : drivers of gains from coordinating monetary and macroprudential policies
Roldán-Peña, Jessica; Torres-Ferro, Mauricio; Torres … - 2017
This paper studies the trade-offs that can arise between inflation targeting and financial stability objectives. We use … stability objectives as an additional macroeconomic policy increases the volatility of inflation. We identify cases in which the …
Persistent link: https://www.econbiz.de/10011771956
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Monetary policy after the crisis : a joint publication with the National Bank of Poland
Gnan, Ernest (ed.); Kokoszcynski, Ryszard (ed.);  … - Conference Monetary Policy after the Crisis <2011, Warschau>; … - 2011
On 4 March 2011, SUERF – The European Money and Finance Forum and the National Bank of Poland jointly organised a conference on the theme of: "Monetary Policy after the Crisis". Following a call for papers with a large number of submissions, the scientific committee selected 9 papers, which...
Persistent link: https://www.econbiz.de/10011710723
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Financial stability policies and bank lending : quasi-experimental evidence from Federal Reserve interventions in 1920-21
Rieder, Kilian - 2020
I estimate the comparative causal effects of monetary policy "leaning against the wind" (LAW) and macroprudential policy on bank-level lending and leverage by drawing on a single natural experiment. In 1920, when U.S. monetary policy was still decentralized, four Federal Reserve Banks...
Persistent link: https://www.econbiz.de/10012318753
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The bank lending channel : lessons from the crisis
Gambacorta, Leonardo; Marqués Ibáñez, David - 2011
The 2007-2010 financial crisis highlighted the central role of financial intermediaries' stability in buttressing a smooth transmission of credit to borrowers. While results from the years prior to the crisis often cast doubts on the strength of the bank lending channel, recent evidence shows...
Persistent link: https://www.econbiz.de/10009006625
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Lending standards, credit booms and monetary policy
Afanasyeva, Elena; Güntner, Jochen - 2014 - This Version: October 31, 2014
This paper investigates the risk channel of monetary policy on the asset side of banks' balance sheets. We use a factoraugmented vector autoregression (FAVAR) model to show that aggregate lending standards of U.S. banks, such as their collateral requirements for firms, are significantly loosened...
Persistent link: https://www.econbiz.de/10010422940
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Lending standards, credit booms and monetary policy
Afanasyeva, Elena; Güntner, Jochen - 2014 - This Version: October 31, 2014
This paper investigates the risk channel of monetary policy on the asset side of banks' balance sheets. We use a factoraugmented vector autoregression (FAVAR) model to show that aggregate lending standards of U.S. banks, such as their collateral requirements for firms, are significantly loosened...
Persistent link: https://www.econbiz.de/10010432276