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This PhD dissertation consists of six chapters related to applications of network analysis’ methods for financial stability. The first chapter introduces the network perspective as a new mapping technique for studying and understanding financial markets’ architecture. The second chapter...
Persistent link: https://www.econbiz.de/10014036306
Using a unique data set of individual professional forecasts, we document disagreement about the future path of monetary policy, particularly at longer horizons. The stark differences in short rate forecasts imply strong disagreement about the risk-return trade-off of longer-term bonds....
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monetary model based on Rocheteau, Weill, and Wong (2018). In the model, a speculation shock that generates an asset boom is …
Persistent link: https://www.econbiz.de/10014079252
Financial market interactions can lead to large and persistent booms and recessions. Instability is an inherent threat to economies with speculative financial markets. A central bank's interest rate setting can amplify the expectation feedback in the financial market and this can lead to...
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developing economy, like Iran, through the channel of the relationship between bank deposits, stock market, and speculation in … low banks deposits regimes. Both FIs have negatively impacted speculation in the FEM in high and low exchange rates … very high inflation regimes. In comparison, the impact of speculation in the FEM has been negative on investment and …
Persistent link: https://www.econbiz.de/10013459442
Using futures data for the period 1990 - 2008, this paper finds evidence that expansionary monetary policy surprises tend to increase crude and heating oil prices, and contractionary monetary policy shocks increase gold and platinum prices. Our analysis uncovers substantial heterogeneity in the...
Persistent link: https://www.econbiz.de/10010201348
We develop a model of monetary exchange in over-the-counter markets to study the effects of monetary policy on asset prices and standard measures of financial liquidity, such as bid-ask spreads, trade volume, and the incentives of dealers to supply immediacy, both by participating in the...
Persistent link: https://www.econbiz.de/10013054305