Narrow search
Showing 1 - 10 of 4,766
Cover Image
The Non-Standard Monetary Policy Measures of the ECB : Motivations, Effectiveness and Risks
Neri, Stefano - 2019
This paper examines the challenges faced by the European Central Bank since the outbreak of the global financial crisis. From 2008 to 2014, the need to preserve the correct functioning of the monetary policy transmission mechanism and ensure the supply of credit to the private sector stretched...
Persistent link: https://www.econbiz.de/10012865150
Cover Image
Income inequality in Canada
Burkinshaw, Sarah; Terajima, Yaz; Wilkins, Carolyn A. - 2022
Concerns over rising inequality have heightened in the years following the 2007-09 global financial crisis and, more recently, with the COVID-19 pandemic. This staff discussion paper reviews the historical facts regarding income inequality in Canada, comparing Canada with the United States and...
Persistent link: https://www.econbiz.de/10013336143
Cover Image
Is monetary policy always effective? : incomplete interest rate pass-through in a DSGE model
Binning, Andrew; Bjørnland, Hilde Christiane; Maih, Junior - 2019
We estimate a regime-switching DSGE model with a banking sector to explain incomplete and asymmetric interest rate pass-through, especially in the presence of a binding zero lower bound (ZLB) constraint. The model is estimated using Bayesian techniques on US data between 1985 and 2016. The...
Persistent link: https://www.econbiz.de/10012214427
Cover Image
State-dependent monetary policy regimes
Zakipour-Saber, Shayan - 2019
Are monetary policy regimes state-dependent? To answer the question this paper estimates New Keynesian general equilibrium models that allow the state of the economy to influence the monetary authority's stance on inflation. I take advantage of recent developments in solving rational...
Persistent link: https://www.econbiz.de/10011975606
Cover Image
Shifting preferences at the fed : evidence from rolling dynamic multipliers and impulse response analysis
Greenwood-Nimmo, Matthew; Shin, Yongcheol - 2010
attribute these mixed estimation results to a raft of empirical issues from which many existing studies suffer, including bias … the operation of a Taylor-type rule, albeit with considerable inertia. We argue that estimation across rolling windows may … estimation provides substantial evidence that the inflation and output preferences of the Fed have varied through time …
Persistent link: https://www.econbiz.de/10009306629
Cover Image
The Great Moderation : inventories, shocks or monetary policy?
Förster, Marcel - 2013
into the determinants of business cycles before and during the Great Moderation. Via Bayesian estimation we determine the …
Persistent link: https://www.econbiz.de/10010208560
Cover Image
Vector autoregressions with parsimoniously time varying parameters and an application to monetary policy
Callot, Laurent; Kristensen, Johannes Tang - 2014
finite sample properties of the Lasso by deriving upper bounds on the estimation and prediction errors that are valid with …
Persistent link: https://www.econbiz.de/10010433901
Cover Image
Atypical behavior of credit : evidence from a monetary VAR
Afanasyeva, Elena - 2013 - First Version: September 30, 2011, this Version: April 14, 2013
Credit boom detection methodologies (such as threshold method) lack robustness as they are based on univariate detrending analysis and resort to ratios of credit to real activity. I propose a quantitative indicator to detect atypical behavior of credit from a multivariate system - a monetary...
Persistent link: https://www.econbiz.de/10010400368
Cover Image
Atypical behavior of credit : evidence from a monetary VAR
Afanasieva, Elena - 2012 - This Version: October 11, 2012
Great Recession 2007-2008 has revived interest to quantity aggregates (money and credit) and their role as indicators of financial instability for monetary and macroprudential policy. However, many of the previous empirical studies inspecting indicator properties used univariate methods and did...
Persistent link: https://www.econbiz.de/10009672374
Cover Image
Time-Varying Persistence in US Inflation
Caporin, Massimiliano - 2014
The persistence property of inflation is an important issue for not only economists, but, especially for central banks, given that the degree of inflation persistence determines the extent to which central banks can control inflation. Further, not only is the level of inflation persistence that...
Persistent link: https://www.econbiz.de/10013045937