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Monetary policy autonomy and international monetary spillovers
Demir, Ishak - 2019
While Federal Reserve continues to normalize its monetary policy on the back of a strengthening U.S. economy, the possibility of mimicking U.S. policy actions and so the debate of monetary autonomy has been particularly heated in the most of developing countries, even in advanced economies. We...
Persistent link: https://www.econbiz.de/10012147194
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Fluctuations in Economic Uncertainty and Transmission of Monetary Policy Shocks : Evidence Using Daily Surveys from Brazil
Burjack, Rafael - 2019
We use a unique Brazilian dataset on daily survey expectations to obtain direct measures of shocks to central bank target rates and changes in economic uncertainty. Using these measures, we gauge the effect of monetary policy shocks on economic uncertainty, term premia, inflation expectations,...
Persistent link: https://www.econbiz.de/10012860102
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Essays on monetary policy in emerging market economies
Elekdaǧ, Selim Ali - 2004
Persistent link: https://www.econbiz.de/10003378773
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Procyclical finance : the money view
Li, Ye - 2017
Financial intermediaries issue the majority of liquid securities, and nonfinancial firms have become net savers, holding intermediaries' debt as cash. This paper shows that intermediaries' liquidity creation stimulates growth -- firms hold their debt for unhedgeable investment needs -- but also...
Persistent link: https://www.econbiz.de/10011968932
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The Macroeconomic Determinants of the US Term-Structure during the Great Moderation
Paccagnini, Alessia - 2014
The aim of this paper is to study how macroeconomic impulses can affect the term structure during the Great Moderation. As novelty in the research strategy, we create a term-structure using three latent factors of the yield curve. A Nelson-Siegel Model is implemented to estimate the latent...
Persistent link: https://www.econbiz.de/10014144946
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Monetary Policy Expectations and Economic Fluctuations at the Zero Lower Bound
Doehr, Rachel - 2017
Using a panel of survey‐based measures of future interest rates from the Survey of Professional Forecasters, we study the dynamic relationship between shocks to monetary policy expectations and fluctuations in economic activity and inflation. We propose a smallscale structured recursive vector...
Persistent link: https://www.econbiz.de/10012971223
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Monetary Policy Expectations and Economic Fluctuations at the Zero Lower Bound
Doehr, Rachel - 2015
Using a panel of survey-based measures of future interest rates from the Survey of Professional Forecasters, we study the dynamic relationship between shocks to monetary policy expectations and fluctuations in economic activity and inflation. We propose a small-scale structured recursive vector...
Persistent link: https://www.econbiz.de/10013023060
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Monetary Policy Uncertainty and Economic Fluctuations at the Zero Lower Bound
Doehr, Rachel; Martínez-García, Enrique - 2022
particular are robust (a gradual 0.4 percentage point increase), lasting more than two years after the initial shock. Interest … backbone for our empirical results, via an “option value” channel. Theory yields sizeable real effects and a muted monetary …
Persistent link: https://www.econbiz.de/10013313628
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Monetary Policy Uncertainty and Economic Fluctuations at the Zero Lower Bound
Martínez-García, Enrique; Doehr, Rachel - 2021
particular are robust (a gradual 0.4 percentage point increase), lasting more than two years after the initial shock. Interest … backbone for our empirical results, via an “option value” channel. Theory yields sizeable real effects and a muted monetary …
Persistent link: https://www.econbiz.de/10013313883
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Precautionary liquidity shocks, excess reserves and business cycles
Bratsiotis, George; Theodoridis, Konstantinos - 2020
This paper identifies a precautionary banking liquidity shock via a set of sign, zero and forecast variance … restrictions imposed. The shock proxies the reluctance of the banking sector to "lend" to the real economy induced by an exogenous … change in financial intermediaries' preference for "high" liquid assets. The identified shock has sizeable and state …
Persistent link: https://www.econbiz.de/10012483779