, speculative bubbles and post-bubble secular stagnation. To prevent a similar scenario for China capital controls, a tighter …

Business investment in the euro area strongly declined during the Global Financial Crisis and the Sovereign Debt Crisis … analyse the sluggish recovery in business investment in the euro area and the role of monetary policy in three steps. We … investigate the main factors that have impeded business investment since the Global Financial Crisis. We empirically analyse how …

emerging market economies. Expansionary monetary policies in response to the burst of bubbles are argued to have contributed to … vagabonding bubbles around the globe …

shock. Our estimated model uncovers a central role for investment in the transmission mechanism of monetary policy, as high … MPCs amplify the investment response in the data. This force also generates a procyclical response of consumption to … investment shocks, leading our model to infer a central role for these shocks as a source of business cycles. …

Is monetary policy less effective at stimulating investment during periods of elevated volatility (when all firms … elevated volatility leads to a decrease in extensive margin investment incentive so that nominal stimulus generates less … aggregate investment. To do this, I first document empirically that high volatility weakens firms' investment responses to …

shock. Our estimated model uncovers a central role for investment in the transmission mechanism of monetary policy, as high … MPCs amplify the investment response in the data. This force also generates a procyclical response of consumption to … investment shocks, leading our model to infer a central role for these shocks as a source of business cycles …

We use disaggregated data on the components of private fixed investment (PFI) to estimate industry-level responses of … real investment and capital prices to unanticipated monetary policy. The response functions derive from a restricted large … assets belonging to the equipment category of fixed investment, we find that quantities rather than prices usually absorb …