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Persistent link: https://www.econbiz.de/10011972005
cost of debt, corporate bond purchases by the central bank stimulate innovation through a wealth transfer to innovative …
Persistent link: https://www.econbiz.de/10012705397
cost of debt, corporate bond purchases by the central bank stimulate innovation through a wealth transfer to innovative …
Persistent link: https://www.econbiz.de/10013313118
We document that monetary policy has a substantial impact on innovation activities. After a tightening shock of 100 …-based aggregate innovation index, declines by up to 9 percent in the following 2 to 4 years. Based on previous estimates of the … sensitivity of output to innovation activities, these magnitudes imply that output could be 1 percent lower after another 5 years …
Persistent link: https://www.econbiz.de/10014372455
The unprecedented uncertainty brought about by the Covid-19 pandemic has wreaked havoc on the global economic, social, and political environment. Leaders across the globe have felt the need for incorporating urgent measures to counter these challenges in a constructive way. This study sheds...
Persistent link: https://www.econbiz.de/10014086722
In the course of their growth and their more recent crisis, cryptocurrencies suffered from tremendous volatility. Volatility impaired cryptocurrencies' ability to serve the needs generally associated with currencies, i.e. serve as a store of value as well as a medium of exchange and a unit of...
Persistent link: https://www.econbiz.de/10012870861
Private entities have recently attempted to invade the realm of central banking activities. This Article identifies this activity as “Shadow Central Banking,” and draws analogies with the previous emergence of “shadow banking” more generally. The “shadow banking” system emerged as a...
Persistent link: https://www.econbiz.de/10012859315
This paper reviews the application of two-country Dynamic Stochastic General Equilibrium (DSGE) models in the case of the euro area. By employing a search strategy across Scopus and Web of Science databases, this review identifies "Key Papers" that develop, calibrate, or estimate DSGE models for...
Persistent link: https://www.econbiz.de/10014547107
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