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Credit, financial conditions and the business cycle in China
Lodge, David; Soudan, Michel - 2019
This paper presents empirical evidence of the role of financial conditions in China's business cycle. We estimate a Bayesian-VAR for the Chinese economy, incorporating a financial conditions index for China that captures movements across a range of financial variables, including interest rates...
Persistent link: https://www.econbiz.de/10011975616
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Firm entry, inflation and the monetary transmission mechanism
Lewis, Vivien; Poilly, Céline - 2011
, through the New Keynesian Phillips Curve, lower inflation. While the proposed model does a good job at matching the observed …
Persistent link: https://www.econbiz.de/10011596318
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Firm entry, inflation and the monetary transmission mechanism
Lewis, Vivien; Poilly, Céline - 2011
, through the New Keynesian Phillips Curve, lower inflation. While the proposed model does a good job at matching the observed …
Persistent link: https://www.econbiz.de/10011506731
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Financial shocks and inflation dynamics
Abbate, Angela; Eickmeier, Sandra; Prieto, Esteban - 2016
We assess the effects of financial shocks on inflation, and to what extent financial shocks can account for the … shocks through sign restrictions. Our main finding is that expansionary financial shocks temporarily lower inflation. This … during the latest financial crisis. We then explore the transmission channels of financial shocks relevant for inflation, and …
Persistent link: https://www.econbiz.de/10011546785
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Less bang for the buck? : assessing the role of inflation uncertainty for U.S. monetary policy transmission in a data rich environment
Herwartz, Helmut; Rohloff, Hannes - 2018
We investigate the relationship between inflation uncertainty and monetary policy transmission in the U.S. economy … through the external finance premium and the term structure of interest rates appears strongly dependent on inflation …
Persistent link: https://www.econbiz.de/10011931106
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Big G
Cox, Lydia; Müller, Gernot J.; Pasten, Ernesto; … - 2020
impact inflation, little crowding out of private expenditure exists, and the multiplier tends to be larger compared to a one …
Persistent link: https://www.econbiz.de/10012206057
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The transmission of supply shocks in different inflation regimes
Arndt, Sarah; Enders, Zeno - 2023
data determine two inflation regimes and find that they are characterized by high and low inflation volatility. We then … exhibit a more substantial and more persistent effect on downstream prices during periods of elevated inflation volatility … effective in State 2. Exogenously differentiating regimes by the level of inflation or the shock size does not reveal state …
Persistent link: https://www.econbiz.de/10014444690
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Implications of shadow ban regulation for monetary policy at the zero lower bound
Mazelis, Falk - 2016
Counter to the credit channel of monetary transmission, monetary policy tightening induces a rise in lending by two different types of non-bank financial institutions (NBFI): shadow banks and investment funds. A monetary DSGE model is able to replicate the empirical facts when augmented with...
Persistent link: https://www.econbiz.de/10011550453
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Monetary policy and large crises in a financial accelerator agent-based model
Giri, Federico; Riccetti, Luca; Russo, Alberto; … - 2016
An accommodating monetary policy followed by a sudden increase of the short term interest rate often leads to a bubble burst and to an economic slowdown. Two examples are the Great Depression of 1929 and the Great Recession of 2008. Through the implementation of an Agent Based Model with a...
Persistent link: https://www.econbiz.de/10011509432
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Monetary policy, sectoral comovement and the credit channel
Di Pace, Federico; Görtz, Christoph - 2021
Persistent link: https://www.econbiz.de/10012546900