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The macroeconomics of financial crises : how risk premiums, liquidity traps and perfect traps affect policy options

Gärtner, Manfred; Jung, Florian - 2009

markets may drive economies into recessions, it shows the following: (1) Liquidity traps may occur not only when interest … flexible exchange rates when the country is stuck in a liquidity trap; (3) Near the fringe of liquidity traps, the risk arises …

Persistent link: https://www.econbiz.de/10003885838

Stock market reaction to policy interventions

Fiordelisi, Franco; Galloppo, Giuseppe - In: The European journal of finance 24 (2018) 18, pp. 1817-1834

Persistent link: https://www.econbiz.de/10012259156

The impact of credit and fiscal policy under a liquidity trap

Yépez, Carlos A. - In: The North American journal of economics and finance : a … 44 (2018), pp. 1-11

Persistent link: https://www.econbiz.de/10012036284

The Liquidity Channel of Fiscal Policy

Bayer, Christian - 2020

—the liquidity premium. We rationalize this finding in an estimated heterogeneous-agent New-Keynesian (HANK) model with incomplete … markets and portfolio choice, in which public debt affects private liquidity. In this environment, the short-run fiscal … multiplier is amplified by the countercyclical liquidity premium. This liquidity channel stabilizes investment and crowds in …

Persistent link: https://www.econbiz.de/10012830353

Revisiting the Fiscal Theory of Sovereign Risk from a DSGE Viewpoint

Okano, Eiji; Inagaki, Kazuyuki - 2023

In this study, we revisit Uribe's (2006, Journal of Monetary Economics) `fiscal theory of sovereign risk,' which suggests a trade-off between stabilizing inflation and suppressing default. Unlike Uribe (2006), we develop a class of dynamic stochastic general equilibrium models in which the...

Persistent link: https://www.econbiz.de/10014256706

Essays on macroeconomic policies and financial frictions

Lieberknecht, Philipp - 2019

Persistent link: https://www.econbiz.de/10012150648

Unconventional Monetary Policy in a Financially Heterogeneous Monetary union

Schwanebeck, Benjamin - 2017

The cross-country interbank market in the euro area was a crucial transmission channel of financial stress. By using a two-country DSGE model of a financially heterogeneous monetary union where banks in one country lend funds to their foreign counterparts, I examine its role as shock ampli.er...

Persistent link: https://www.econbiz.de/10011773490

The impacts of standard monetary and budgetary policies on liquidity and financial markets: International evidence from the credit freeze crisis

Gagnon, Marie-Hélène; Gimet, Céline - In: Journal of banking & finance 37 (2013) 11, pp. 4599-4614

Persistent link: https://www.econbiz.de/10010248519

Fiscal requirements for price stability in economies with private provision of liquidity and unemployment

Gomis-Porqueras, Pedro - 2016

Persistent link: https://www.econbiz.de/10011520555

Asset supply and liquidity transformation in HANK

Chiang, Yu-Ting; Zoch, Piotr - 2022

Persistent link: https://www.econbiz.de/10013465027

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