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Scarce, abundant, or ample? : a time-varying model of the reserve demand curve

Afonso, Gara; Giannone, Domenico; La Spada, Gabriele; … - 2022

approach to address endogeneity. Consistent with economic theory, our estimates show a nonlinear demand function that exhibits …' demand for reserves moved over time? We provide a structural time-varying estimate of the slope of the reserve demand curve …

Persistent link: https://www.econbiz.de/10013257201

The importance of demand, uncertainty and monetary policy shocks from the euro area for the Romanian economy

Anton, George - In: Theoretical and applied economics : GAER review 29 (2022) 2/631, pp. 25-38

Persistent link: https://www.econbiz.de/10014325398

Sign restrictions and statistical identification under volatility breaks : simulation based evidence and an empirical application to monetary policy analysis ; conference paper

Herwartz, Helmut; Plödt, Martin - 2014

Apart from a priori assumptions on instantaneous or long run effects of structural shocks, sign restrictions have become a prominent means for structural vector autoregressive (SVAR) analysis. Moreover, second order heterogeneity of systems of times series can be fruitfully exploited for...

Persistent link: https://www.econbiz.de/10010482469

Policy and business cycle shocks : a structural factor model representation of the US economy

Forni, Mario; Gambetti, Luca - In: Journal of risk and financial management : JRFM 14 (2021) 8, pp. 1-21

-shock specification, we identify, using sign restrictions, two policy shocks, monetary and fiscal, and two non-policy shocks, demand and … supply. We obtain the following results. (ii) Both supply and demand shocks are important sources of fluctuations; supply … prevails for GDP, while demand prevails for employment and inflation. (ii) Monetary and fiscal policy shocks have sizable …

Persistent link: https://www.econbiz.de/10012626760