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An Assessment of the Effects of Monetary Policy Shocks in the Face of Local and International Banks in Perspective
Anning, Frederick - 2019
This work assesses the impact of monetary policy shocks on the extension of bank credit by local banks and foreign banks in general. We however employ the impulse response functions and the variance decomposition analysis as part of our study in assessing the responses of these types of...
Persistent link: https://www.econbiz.de/10012894031
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Monetary policy, sectoral comovement and the credit channel
Di Pace, Federico; Görtz, Christoph - 2021
Persistent link: https://www.econbiz.de/10012546900
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Euro area monetary policy transmission in Estonia
Errit, Gertrud; Uusküla, Lenno - In: Baltic journal of economics 14 (2014) 1/2, pp. 55-77
This paper studies the effect of a monetary policy shock in the euro area on the main Estonian economic and financial … effects on Estonian GDP, private consumption, corporate investment, and imports. A monetary policy shock also has strong and …
Persistent link: https://www.econbiz.de/10011890463
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Towards technology-news-driven business cycles
Di Casola, Paola; Sichlimiris, Spyridon - 2018
We identify an inflationary technology news shock as the leading source of business cycle variations for the postwar U ….S. economy. This shock acts like a demand shock: it induces strong positive comovement in real quantities - GDP, consumption … technological innovations reduce inflation. The technology news shock became the predominant source of the business cycle from the …
Persistent link: https://www.econbiz.de/10011930326
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The propagation of monetary policy shocks in a heterogeneous production economy
Pasten, Ernesto; Schoenle, Raphael; Weber, Michael - 2018 - This version: November 2018
We study the transmission of monetary policy shocks in a model in which realistic heterogeneity in price rigidity interacts with heterogeneity in sectoral size and input-output linkages, and derive conditions under which these heterogeneities generate large real effects. Empirically,...
Persistent link: https://www.econbiz.de/10011936316
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Risk sharing and monetary policy transmission
Hauptmeier, Sebastian; Holm-Hadulla, Fédéric; … - 2022
Using regionally disaggregated data on economic activity, we show that risk sharing plays a key role in shaping the real effects of monetary policy. With weak risk sharing, monetary policy shocks trigger a strong and durable response in output. With strong risk sharing, the response is...
Persistent link: https://www.econbiz.de/10013448692
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The transmission of supply shocks in different inflation regimes
Arndt, Sarah; Enders, Zeno - 2023
effective in State 2. Exogenously differentiating regimes by the level of inflation or the shock size does not reveal state …
Persistent link: https://www.econbiz.de/10014444690
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Commodity price shocks and global cycles : monetary policy matters
Castelnuovo, Efrem; Mori, Lorenzo; Peersman, Gert - 2024
We employ a structural VAR model with global and US variables to study the relevance and transmission of oil, food commodities, and industrial input price shocks. We show that commodities are not all alike. Industrial input price changes are almost entirely endogenous responses to other shocks....
Persistent link: https://www.econbiz.de/10014550949
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Resolving puzzles of monetary policy transmission in emerging markets
Ha, Jongrim; Kim, Dohan; Kose, M. Ayhan; Prasad, Eswar S. - 2024
Conventional empirical models of monetary policy transmission in emerging market economies produce puzzling results: monetary tightening often leads to an increase in prices (the price puzzle) and depreciation of the currency (the FX puzzle). We show that incorporating forward-looking...
Persistent link: https://www.econbiz.de/10015084194
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Exchange rate and price dynamics at the zero lower bound : conference paper
Bäurle, Gregor; Kaufmann, Daniel - 2013
the price level to a temporary risk shock are permanent. Our theoretical discussion shows that adopting a credible long …
Persistent link: https://www.econbiz.de/10010340556