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The Impact of Monetary Policy on Stock Market Bubbles and Trading Behavior : Evidence from the Lab

Fischbacher, Urs - 2013

This paper investigates the effect of monetary policy on stock market bubbles and trading behavior in experimental … observe a strong impact of our interest rate policy on liquidity in the stock market but only a small impact on bubbles …. However, we find that announcing the possibility of reserve requirements significantly reduces bubbles even when such …

Persistent link: https://www.econbiz.de/10013092749

Stock Market Bubbles and Monetary Policy Effectiveness

Fullana, Olga - 2020

of restrictive monetary policy shocks coincides with the phase of the business cycle in which bubbles arise …

Persistent link: https://www.econbiz.de/10012855577

Is monetary policy overburdened?

Orphanides, Athanasios - 2013

Following the experience of the global financial crisis, central banks have been asked to undertake unprecedented responsibilities. Governments and the public appear to have high expectations that monetary policy can provide solutions to problems that do not necessarily fit in the realm of...

Persistent link: https://www.econbiz.de/10010400888

Monetary policy, financial shocks and economic activity

Evgenidis, Anastasios; Malliaris, A. (Tassos) G. - 2021

This paper contributes to a deeper understanding of macroeconomic outcomes to financial market disturbances and the central bank’s role in financial stability, by using Bayesian VAR (BVAR) models. We document that a shock that increases credit to non-financial sector leads to a persistent...

Persistent link: https://www.econbiz.de/10013217405

Monetary and Financial Stability Implications of Capital Flows in Latin America and the Caribbean

Settlements, Bank for International - 2008

Central Bank participants at the BIS 2008 Open Economies Meeting in Punta del Este, Uruguay, discussed trends in capital flows since 2003 and their monetary and financial stability implications. Capital flows appear to be more benign today than in the past, partly because of a greater share of...

Persistent link: https://www.econbiz.de/10014212895

Monetary Policy, Financial Shocks and Economic Activity

Evgenidis, Anastasios; Malliaris, A. (Tassos) G. - 2023

This paper contributes to a fuller understanding of macroeconomic outcomes to financial market disturbances and the central bank’s role in financial stability. Our two major contributions are conceptual and econometric. Conceptually, we introduce phases of the business cycle and...

Persistent link: https://www.econbiz.de/10014254292

The Changing Role of Central Banks

Goodhart, Charles - 2013

Although Central Banks have pursued the same objectives throughout their existence, primarily price and financial stability, the interpretation of their role in doing so has varied. We identify three stable epochs, when such interpretations had stabilised, ie: 1.The Victorian era, 1840s to 1914; 2....

Persistent link: https://www.econbiz.de/10013094093

The Effects of Monetary Policy on Firm Investment after the Collapse of the Asset Price Bubble : An Investigation Using Japanese Micro Data

Nagahata, Takashi - 2009

This paper investigates what can be learned about the effects of monetary policy on firm investment after the collapse of the asset price bubble in Japan. By estimating firm investment functions based on corporate panel data, the paper reveals that the monetary easing after the bubble burst...

Persistent link: https://www.econbiz.de/10013157089

How do the financial markets respond to emerging economies' asset purchase program? : evidence from the Covid-19 crisis

Prabheesh, K. P.; Kumar, Sanjiv - 2022

This study examines the impacts of unconventional monetary policy on the exchange rate, stock market, and bond market during the COVID-19 economic crisis in an emerging economy. It focuses particularly on the asset purchase program conducted by the Central Bank of India. The Central Bank...

Persistent link: https://www.econbiz.de/10013198715

What option prices tell us about the ECB's unconventional monetary policies

Olijslagers, Stan; Petersen, Annelie; Vette, Nander de; … - 2018

We use a series of different approaches to extract information about crash risk from option prices for the Euro-Dollar exchange rate, with each step sharpening the focus on extracting more specific measures of crash risk around dates of ECB measures of Unconventional Monetary Policy. Several...

Persistent link: https://www.econbiz.de/10011940034

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