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spending on several indicators of liquidity, volatility, credit and economic activity. Data from the 2003-2011 period in the … decrease in volatility and increase in liquidity on North American stock markets, the shocks were mainly domestic and … ineffective at generating liquidity in the banking sector. In contrast, government spending shocks had a positive impact on credit …
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Exploring the forceful renewal of the boom-and-bust cycle after several decades of economic stability, this book is a research-based review of the factors that caused the 2008 recession. It offers cutting-edge diagnoses of the recession and prescriptions on how to boost the economy from leading...
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Monetary policy leaves a fiscal footprint. In some circumstances, relieving the fiscal burden becomes the main goal of policy, and inflation control is subordinate. This article notes that the same is true of macroprudential policy, and it characterizes the size and sign of its fiscal footprint,...
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