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We study the interplay between monetary policy and financial conditions shocks. Such shocks have a significant and similar impact on the real economy, though with different degrees of persistence. The systematic fed funds rate response to a financial shock contributes to bringing the economy...
Persistent link: https://www.econbiz.de/10011546928
banking stress, firms’ financing conditions, government bond yields, interest rate channel, monetary policy … transmission, sovereign stress …In this paper, we investigate to what extent sovereign stress and banking stress have contributed to the increase in …
Persistent link: https://www.econbiz.de/10011787375
In this paper, we investigate to what extent sovereign stress and banking stress have contributed to the increase in … million observations we are able to identify the effect of government bond yield spreads (sovereign stress) and the share of … non-performing loans (banking stress) on firms' financing costs in a panel model by assuming that idiosyncratic shocks to …
Persistent link: https://www.econbiz.de/10011797419
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recent Federal Reserve stress test results to illustrate some possible answers to these questions. This is the notion of how … we are stressing the stress tests …
Persistent link: https://www.econbiz.de/10012830100
We investigate to what extent sovereign stress and banking stress have contributed to the increase in the level and in …, we are able to identify the effect of government bond yield spreads (sovereign stress) and the share of non …-performing loans (banking stress) on firms' financing costs in a panel model by assuming that idiosyncratic shocks to individual firms …
Persistent link: https://www.econbiz.de/10012916507
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In recent years, Fund staff has prepared cross-country analyses of macroeconomic vulnerabilities in low-income countries, focusing on the risk of sharp declines in economic growth and of debt distress. We discuss routes to broadening this focus by adding several macroeconomic and macrofinancial...
Persistent link: https://www.econbiz.de/10013250073