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step, I investigate how wages in the production sector affect bank net worth and the process of financial intermediation in … capital to a change in wages. This finding is relevant for the determination of optimal monetary policy, both for financial … shocks and supply shocks inflation stabilization imposes high welfare costs. At the same time, stabilizing nominal wages …
Persistent link: https://www.econbiz.de/10012836922
first step, I investigate how wages in the production sector affect bank net worth and the process of financial … capital to a change in wages. This finding is relevant for the determination of optimal monetary policy, both for financial … shocks and supply shocks inflation stabilization imposes high welfare costs. At the same time, stabilizing nominal wages …
Persistent link: https://www.econbiz.de/10013289893
Persistent link: https://www.econbiz.de/10003454741
Persistent link: https://www.econbiz.de/10011551179
Persistent link: https://www.econbiz.de/10012586143
The paper models the interaction between risk taking in the financial sector and central bank policy. It shows that in the absence of central bank intervention, the incentive of financial intermediaries to free ride on liquidity in good states may result in excessively low liquidity in bad...
Persistent link: https://www.econbiz.de/10003951399
Even though the sector of Non-bank financial intermediaries (NBFI) or shadow banks represent a large part of the contemporary financial system, these institutions received almost no attention in macroeconomic studies so far. Their presence has significant influence on the conduct of monetary...
Persistent link: https://www.econbiz.de/10009526259
A small macroeconomic model is constructed to study the transmission of the monetary policy conducted by the Deutsche Bundesbank (DBB) since the middle of the 1970s. For this purpose quarterly, seasonally unadjusted data for the period from 1975 to 1998 are used, that is, the period until the...
Persistent link: https://www.econbiz.de/10011400913
Persistent link: https://www.econbiz.de/10010515850
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