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Credit cycles and central bank policy in Croatia : lessons from the 2000s
Dumičić, Mirna; Šošić, Vedran - In: Financial cycles and real economy : lessons for CESEE …, (pp. 96-113). 2014
Persistent link: https://www.econbiz.de/10010437971
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Monetary policy in Croatia during two recessions
Vidaković, Neven - In: Macroeconomic responses to the COVID-19 pandemic : …, (pp. 187-208). 2021
The paper compares the monetary policy in Croatia during two crises: the great recession and the COVID pandemic. The … great recession was a global financial shock that strongly affected Croatia. During the great recession, the central bank … policies to strengthen the quality and inclusiveness of monetary policy in Croatia. …
Persistent link: https://www.econbiz.de/10012608994
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The Bernanke Fed and 'Credit Easing' Policies
Butos, William - 2015
In the aftermath of the financial crisis the Fed pursued a “near zero” overnight interest floor and initiatives to manipulate the size and composition of central bank assets. Bernanke referred to this policy as “credit easing.” I overview the succession of unconventional Fed measures...
Persistent link: https://www.econbiz.de/10013021246
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An overview of the Fed's new credit policy tools and their cushioning effect on the COVID-19 recession
Bordo, Michael D.; Duca, John V. - In: Journal of government and economics : JGE 3 (2021), pp. 1-10
The economics literature lacks articles that provide a broad roadmap-let alone a logical explanation-of the new set of Federal Reserve policy tools that were created to counter the COVID-19 recession. This study provides an overview of the motivation for these new credit-easing programs-namely...
Persistent link: https://www.econbiz.de/10012800421
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Unconventional monetary policy, leverage & default dynamics
Palombo, Edoardo - 2020
The objective of this paper to investigate the effectiveness of credit easing policy in mitigating the economic fallout from a financial recession using a model that can account for the observed default and leverage dynamics during the financial crisis of 2007. A general equilibrium model is...
Persistent link: https://www.econbiz.de/10012243296
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Optimal unconventional monetary policy in the face of shadow banking
Kirchner, Philipp; Schwanebeck, Benjamin - 2017
Using a DSGE framework, we discuss the optimal design of monetary policy for an economy where both retail banks and shadow banks serve as financial intermediaries. We get the following results. During crises times, a standard Taylor rule fails to reach sufficient stimulus. Direct asset purchases...
Persistent link: https://www.econbiz.de/10011671242
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Provision of liquidity through the primary credit facility during the financial crisis : a structural analysis
Artuç, Erhan; Demiralp, Selva - 2009
Over the course of the recent liquidity crisis, the Federal Reserve made several changes to its primary credit lending facility such as narrowing the spread between the primary credit rate and the target funds rate and increasing the term of the borrowing. In this paper, we use the model...
Persistent link: https://www.econbiz.de/10008670141
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Provision of Liquidity Through the Primary Credit Facility During the Financial Crisis : A Structural Analysis
Artuc, Erhan - 2010
Persistent link: https://www.econbiz.de/10013138103
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Asset Fire Sales and Credit Easing
Shleifer, Andrei - 2010
In a January 2009 lecture on the financial crisis, Federal Reserve Chairman Bernanke advocated a new Fed policy of credit easing, defined as a combination of lending to financial institutions, providing liquidity directly to key credit markets, and buying of long term securities. We show that...
Persistent link: https://www.econbiz.de/10013149345
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Financial Cycles, Credit Bubbles and Stabilization Policies
Corrado, Luisa - 2019
This paper analyzes the effects of several policy instruments to mitigate financial bubbles generated in the banking sector. We augment a New Keynesian macroeconomic framework by endogenizing boundedly-rational expectations on asset values of loan portfolios and allow for interbank trading. We...
Persistent link: https://www.econbiz.de/10012892165