, economies whose banking sectors remain well-capitalized experience smaller reductions in bank lending and less pronounced … downturns. Bank capital thus increases an economy's ability to absorb shocks and, in doing so, affects the conduct of monetary … policy. The model is also used to shed light on the ongoing debate over bank capital regulation. -- Transmission of monetary …

sources of (potentially time-varying) credit spreads and to allow a role for the central bank’s balance sheet in determining … prescriptions and to consider additional dimensions of central bank policy — variations in the size and composition of the central … bank’s balance sheet as well as payment of interest on reserves — alongside the traditional question of the proper …

of policy have recently been of greater importance: changes in the supply of bank reserves, changes in the assets … a role for the central bank's balance sheet in equilibrium determination, and consider the connections between these … sense and targeted asset purchases by a central bank, and argue that while the former is likely be ineffective at all times …

of policy have recently been of greater importance: changes in the supply of bank reserves, changes in the assets … allow a role for the central bank’s balance sheet in equilibrium determination and then consider the connections between … the strict sense and targeted asset purchases by a central bank, arguing that, according to our model, while the former is …