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On 5-6 September 2012 SUERF held its 30th Colloquium “States, Banks, and the Financing of the Economy” at the University of Zürich, Switzerland. The papers included in this SUERF Study are based on contributions to the Colloquium. All the papers in this publication discuss from different...
Persistent link: https://www.econbiz.de/10011689959
On 5-6 September 2012 SUERF held its 30th Colloquium "States, Banks, and the Financing of the Economy" at the University of Zürich, Switzerland. The papers included in this SUERF Study are based on contributions to the Colloquium. All the chapters in this publication discuss from different...
Persistent link: https://www.econbiz.de/10011711721
In this paper we address the issue of how transmission uncertainty could affect the choice between a federal monetary policy based on national data and one on aggregated data.We find that the uncertainty about the transmission process increases the need to take into account information about...
Persistent link: https://www.econbiz.de/10011506467
Is the transmission of monetary policy to bank lending heterogeneous across euro area countries? This paper employs annual bank level data to test whether the bank lending channel of monetary policy was heterogeneous in the euro area over the period 2007-2016. To do so it follows a simple...
Persistent link: https://www.econbiz.de/10012898211
In this paper we investigate how monetary policy in advanced economies affects financial conditions in emerging market economies (EMEs). We find evidence for the working of several international transmission channels. In particular, advanced economy monetary policy, as proxied by US monetary...
Persistent link: https://www.econbiz.de/10013047159
In this paper we address the issue of how transmission uncertainty could affect the choice between a federal monetary policy based on national data and one on aggregated data. We find that the uncertainty about the transmission process increases the need to take into account information about...
Persistent link: https://www.econbiz.de/10013320041
In this paper we present a first approach to the study of the transformation in the transmission mechanism of monetary policy that has taken place in Mexico in recent years. For this purpose, we use a non-linear VAR model that allows for regime shifts. The comparison of the different regimes...
Persistent link: https://www.econbiz.de/10014058513
How does central bank conservatism affect labor market reform? In this paper we examine the economic forces at work. An … increase in conservatism triggers two opposite effects. It reduces the inflation bias of discretionary monetary policy and … reform. In combination, the two effects produce a u-shaped relation between conservatism and labor market reform. An …
Persistent link: https://www.econbiz.de/10010321824
How does central bank conservatism affect labor market reform? In this paper we examine the economic forces at work. An … increase in conservatism triggers two opposite effects. It reduces the inflation bias of discretionary monetary policy and … reform. In combination, the two effects produce a u-shaped relation between conservatism and labor market reform. An …
Persistent link: https://www.econbiz.de/10011589303
The Federal Reserve's path for withdrawal of monetary stimulus and eventually increasing interest rates could have substantial repercussions for capital flows to emerging-market economies (EMEs). This paper examines the potential impact of U.S. monetary policy normalization on portfolio flows to...
Persistent link: https://www.econbiz.de/10010437964