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Dorofeenko, Viktor; Lee, Gabriel S.; Salyer, Kevin Duff - 2005

How do differences in the creit channel affect investment behavior in the U.S. and the Euro area? To analyze this … default premium associated with bank loans and bankruptcy rates, to identify the differences in the U.S. and European … elasticities for capital are less elastic than the U.S. -- agency costs ; credit channel ; investment behavior ; E.U. area …

Persistent link: https://www.econbiz.de/10009730390

The federal home loan bank system: The lender of next-to-last resort?

Ashcraft, Adam; Bech, Morten L.; Frame, W. Scott - 2009

that currently has more than $1 trillion in secured loans outstanding, mostly to commercial banks and thrifts. This paper …

Persistent link: https://www.econbiz.de/10010292250

Agency costs and investment behavior

Dorofeenko, Viktor; Lee, Gabriel S.; Salyer, Kevin D. - 2005

Persistent link: https://www.econbiz.de/10010293733

Risk shocks and housing markets

Dorofeenko, Viktor; Lee, Gabriel S.; Salyer, Kevin D. - 2010

countercyclical behavior of risk premia on loans to the housing sector. …

Persistent link: https://www.econbiz.de/10010294012

Gradualism, transparency and improved operational framework: A look at the overnight volatility transmission

Colarossi, Silvio; Zaghini, Andrea - 2007

This paper proposes a possible way of assessing the effect of interest rate dynamics on changes in the decision-making approach, communication strategy and operational framework of a Central bank. Through a GARCH specification we show that the USA and Euro area displayed a limited but...

Persistent link: https://www.econbiz.de/10010298365

The federal funds market and the overnight Eurodollar market

Lee, Yungsook - 1999

Overnight Federal funds and overnight Eurodollars are among the most liquid short-term assets that a bank can hold to acquire required reserves. They are traded overnight and denominated in U.S. dollars. They also have different characteristics: The Fed funds market and the Eurodollar market are...

Persistent link: https://www.econbiz.de/10010301761

Interest rates and output in the long-run

Aksoy, Yunus; León-Ledesma, Miguel A. - 2005

In this paper we argue that both statistics and economic theory-based evidence largely indicate the absence of long run relationships between the real output and the most relevant monetary indicator for the U.K. and the U.S, short term interest rates. These findings are not only a full sample...

Persistent link: https://www.econbiz.de/10011604480

Shocks and frictions in US business cycles: a Bayesian DSGE approach

Smets, Frank; Wouters, Raf - 2007

Using a Bayesian likelihood approach, we estimate a dynamic stochastic general equilibrium model for the US economy using seven macro-economic time series. The model incorporates many types of real and nominal frictions and seven types of structural shocks. We show that this model is able to...

Persistent link: https://www.econbiz.de/10011604768

Policy rate decisions and unbiased parameter estimation in typical monetary policy rules

Podpiera, Jirí - 2007

Policymakers do not always follow a simple rule for setting policy rates for various reasons and thus their choices are co-driven by a decision to follow a rule or not. Consequently, some observations are censored and cause bias in conventional estimators of typical Taylor rules. To account for...

Persistent link: https://www.econbiz.de/10011604817

A quantitative perspective on optimal monetary policy cooperation between the US and the euro area

Adjemian, Stéphane; Darracq Pariès, Matthieu; Smets, Frank - 2008

The objective of this paper is to examine the main features of optimal monetary policy cooperation within a micro-founded macroeconometric framework. First, using Bayesian techniques, we estimate a two-country dynamic stochastic general equilibrium (DSGE) model for the United States (US) and the...

Persistent link: https://www.econbiz.de/10011604930

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