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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
financial stability. For this purpose, monetary policy is described by a flexible inflation targeting regime using the interest …
Persistent link: https://www.econbiz.de/10011589082
I study spillovers of US monetary policy to the rest of the world, as well as spillbacks to the US economy in an empirical multi-country model over time. Within the multilateral framework, I distinguish the bilateral effect from the network effects that arise from interactions among recipient...
Persistent link: https://www.econbiz.de/10014256990
The U.S. Federal Reserve has committed hundreds of billions of dollars in unprecedented lending activities and purchases of mortgage-backed securities based upon its authority under the Federal Reserve Act, and particularly upon its interpretation of Section 13(3), a formerly untested and unused...
Persistent link: https://www.econbiz.de/10013094881
economic performance under inflation targets, and arguments that the flexible exchange rate has undermined real economic …
Persistent link: https://www.econbiz.de/10011541166
with inflation performance. …
Persistent link: https://www.econbiz.de/10011833686
with inflation performance. …
Persistent link: https://www.econbiz.de/10011906669
The past years were characterized by unprecedented rises in prices of commodities such as oil or wheat and inflation … indicate future CPI inflation and if they can be used as indicator variables for central banks or not. We apply various … strong link between commodity prices and CPI inflation in the 1970s and the beginning of the 1980s. For a more recent sample …
Persistent link: https://www.econbiz.de/10013135846
The article looks at the disparity of views among experts regarding the growth of the “Euro-dollar market”. Contradictory explanations have been offered by various authors on the sources and uses of these funds. On one side of the spectrum is the idea that Euro-dollar deposits are the result...
Persistent link: https://www.econbiz.de/10010854320
The article looks at the disparity of views among experts regarding the growth of the “Euro-dollar market”. Contradictory explanations have been offered by various authors on the sources and uses of these funds. On one side of the spectrum is the idea that Euro-dollar deposits are the result...
Persistent link: https://www.econbiz.de/10010752016