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Loans and the Transmission of Monetary Policy Shocks : A VAR Analysis of the Role of Commitments
Barraza, Santiago - 2015
This paper uses VAR analysis to illustrate that bank loans under commitment behave differently than loans not under commitment in response to a monetary shock. We find that firms use commitments more intensively after a monetary tightening and argue this helps explain the puzzling response of...
Persistent link: https://www.econbiz.de/10013014182
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New empirics of monetary policy dynamics : evidence from the CFA franc zones
Asongu, Simplice A. - 2013
discussed. Inter alia: implications for the long-run neutrality of money and business cycles; implications for credit expansions …
Persistent link: https://www.econbiz.de/10011409990
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Does money matter in Africa? : new empirics on long- and short-run effects of monetary policy on output and prices
Asongu, Simplice A. - 2013
business cycles, credit expansions and inflationary tendencies, inflation targeting and monetary policy independence …
Persistent link: https://www.econbiz.de/10011410030
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Monetary policy, financial shocks and economic activity
Evgenidis, Anastasios; Malliaris, A. (Tassos) G. - 2021
credit to non-financial sector leads to a persistent decline in economic activity. In addition, we examine whether the …
Persistent link: https://www.econbiz.de/10013217405
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Optimal institutions for monetary policy : contracts, shocks and signaling
Grüner, Hans Peter - 1995
The effects of different institutional arrangements for the central bank are examined in the presence of economic shocks and uncertainty about the central banker's and the medianvoter's inflation target. A contract which is based on self-imposed monetary target announcements proves to be...
Persistent link: https://www.econbiz.de/10009743270
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Liquidity funding shocks : the role of banks' funding mix
Alvarez, Antonio M.; Fernández, Alejandro; … - 2019
systems, we find that following a liquidity funding shock, both credit and GDP decline in different amounts and lengths. GDP … reverts faster than credit. Furthermore, periphery countries experience a more pronounced fall in deposits and credit growth …
Persistent link: https://www.econbiz.de/10012004718
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The causes of persistent inflation in Nigeria
Asekunowo, Victor O. - In: CBN journal of applied statistics 7 (2016) 2, pp. 1-27
This study sought to identify the traditional and institutional inflation variables responsible for inflation phenomenon and the magnitude of the contribution of the identified variables to the rise in general price level. Secondary data on key macroeconomic variables in the economy from 1974 to...
Persistent link: https://www.econbiz.de/10011661500
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Firm heterogeneity and the transmission of central bank credit policy
Kuhmann, Konrad - 2023
I study the role of firm heterogeneity for the transmission of unconventional monetary policy in the form of "credit … heterogeneous, aggregate investment is substantially less responsive to credit policy compared to an identical firm setting …. Moreover, when debt markets are segmented, credit policy directed exclusively at financially unconstrained firms is most …
Persistent link: https://www.econbiz.de/10014234463
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Monetary Policy, Financial Shocks and Economic Activity
Evgenidis, Anastasios; Malliaris, A. (Tassos) G. - 2023
credit to non-financial sector leads to a persistent decline in economic activity. In addition, we examine whether the …
Persistent link: https://www.econbiz.de/10014254292
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Financial factors in economic fluctuations
Christiano, Lawrence J.; Motto, Roberto; Rostagno, Massimo - 2010
We augment a standard monetary DSGE model to include a banking sector and financial markets. We fit the model to Euro Area and US data. We find that agency problems in financial contracts, liquidity constraints facing banks and shocks that alter the perception of market risk and hit financial...
Persistent link: https://www.econbiz.de/10003973320