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Predicting Inflation : Portfolio Erosion or Collapse?
Crawford, George - 2012
What is the probability of high inflation; how high, when? These questions are important to all investors since even … characterizes this as The War On Savers. Higher inflation is possible, at 4% or more, with even worse effects. There are heated … debates about the probability and timing of high inflation, but our review of the extensive literature reveals no reliable way …
Persistent link: https://www.econbiz.de/10013099903
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Essays in international finance
Matsumoto, Akito - 2004
Persistent link: https://www.econbiz.de/10003387301
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Monetary policy over the life cycle
Braun, R. Anton; Ikeda, Daisuke - 2021 - August 2021 (Revised September 2021)
A tighter monetary policy is generally associated with higher real interest rates on deposits and loans, weaker performance of equities and real estate, and slower growth in employment and wages. How does a household's exposure to monetary policy vary with its age? The size and composition of...
Persistent link: https://www.econbiz.de/10012604303
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Risk-Taking, Capital Allocation and Optimal Monetary Policy
David, Joel Michael; Zeke, David - 2021
We study the role of firm heterogeneity in affecting business cycle dynamics and optimal stabilization policy. Firms differ in their degree of cyclicality, and hence, exposure to aggregate risk, leading to firm-specific risk premia that influence resource allocations. The heterogeneous firm...
Persistent link: https://www.econbiz.de/10013251194
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Risk-Taking, Capital Allocation and Optimal Monetary Policy
-; Zeke, David - 2021
We study the role of firm heterogeneity in affecting business cycle dynamics and optimal stabilization policy. Firms differ in their degree of cyclicality, and hence, exposure to aggregate risk, leading to firm-specific risk premia that influence resource allocations. The heterogeneous firm...
Persistent link: https://www.econbiz.de/10014031130
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Essays on monetary policy interactions with fiscal policy and financial markets
Niemann, Stefan (contributor) - 2008
Persistent link: https://www.econbiz.de/10003652546
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The true nature of the portfolio balance channel of quantitative easing policy
Jakl, Jakub - In: Národohospodářský obzor : časopis věnovaný … 19 (2019) 2, pp. 95-117
This paper analyses the effects of the ECB's Public sector purchase programme (PSPP) on portfolios of the Eurozone investors. The ECB claims that the PSPP works mainly through the portfolio balance channel when the conditions on the asset markets are changed by the presence of a bidding central...
Persistent link: https://www.econbiz.de/10012026893
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The portfolio theory of inflation and policy (in)effectiveness revisited : corroborating evidence
Bossone, Biagio; Cuccia, Andrea - 2020
This study revisits and tests empirically the Portfolio Theory of Inflation (PTI), which analyzes how the effectiveness … (Bossone, The portfolio theory of inflation and policy (in)effectiveness, 2019). The PTI shows that when an economy is heavily … and policies aimed to stimulate output growth dissipate into domestic currency depreciation and higher inflation, with …
Persistent link: https://www.econbiz.de/10012140238
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Wealth, asset portfolio, money demand and policy rule
Sousa, Ricardo M. - In: Bulletin of economic research 66 (2014) 1, pp. 95-111
Persistent link: https://www.econbiz.de/10010399402
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The interest rate effects of government bond purchases away from the lower bound
De Rezende, Rafael B. - 2016
I analyze the recent experience of unconventional monetary policy in Sweden to study the interest rate transmission mechanisms of government bond purchases when interest rates are not constrained by a lower bound. Using dynamic term structure models and event study regressions I find that...
Persistent link: https://www.econbiz.de/10011471465