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A Chinese Slowdown and the Nominal Term Structures of the US and German Interest Rates
Maletic, Matjaz - 2018
To measure the global spillovers of a Chinese slowdown on the long-term nominal interest rates in the US/Germany, I model the US/German nominal term structure jointly in the post financial crisis (FC) sample, including the Chinese leading indicator as a new factor. I use an affine term structure...
Persistent link: https://www.econbiz.de/10012913804
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US Monetary Policy Spillovers and Spillbacks
Thomas, Lina - 2023
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
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When the Fed sneezes - spillovers from U.S. monetary policy to emerging markets
Meinusch, Annette - 2017
heterogeneity in spillover effects. Our results suggest that the anticipation of loose U.S. monetary policy has diverse effects …
Persistent link: https://www.econbiz.de/10011672704
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Oil price shock in the US and the euro area - evidence from the shadow rate and the term premium
Pažický, Martin - In: Národohospodářský obzor : časopis věnovaný … 21 (2021) 3, pp. 309-346
The aim of this article is to investigate the consequences of oil price changes for the economy of the US and the euro area. Oil price transmission channel is assessed using Granger causalities and structural vector autoregressive (VAR) specifications (applying the Cholesky factorization and the...
Persistent link: https://www.econbiz.de/10012651358
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"Unconventional" monetary policy as conventional monetary policy : a perspective from the U.S. in the 1920s
Carlson, Mark; Duygan-Bump, Burcu - 2018
To implement monetary policy in the 1920s, the Federal Reserve utilized administered interest rates and conducted open market operations in both government securities and private money market securities, sometimes in fairly considerable amounts. We show how the Fed was able to effectively use...
Persistent link: https://www.econbiz.de/10011927094
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Surveillance by International Institutions: Lessons from the Global Financial and Economic Crisis
Shigehara, Kumiharu; Atkinson, Paul - Economics Department, Organisation de Coopération et … - 2011
This paper reviews key policy messages and warnings about developments in the run-up to the global financial and economic crisis that began in mid-2007 which are contained in the main publications of the IMF, the OECD and the BIS and discuss issues relevant to strengthening their surveillance...
Persistent link: https://www.econbiz.de/10009003650
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Geography or skills: What explains Fed watchers’ forecast accuracy of US monetary policy?
Berger, Helge; Ehrmann, Michael; Fratzscher, Marcel - 2006
The paper shows that there is a substantial degree of heterogeneity in forecast accuracy among Fed watchers. Based on a … basis points between the best and worst-performers across the sample. This heterogeneity is found to be related to both the … anticipating monetary policy. Moreover, systematic forecaster heterogeneity is economically important as it leads to greater …
Persistent link: https://www.econbiz.de/10011604741
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Geography or skills: what explains Fed Wachters' forecast accuracy of US monetary policy?
Berger, Helge; Ehrmann, Michael; Fratzscher, Marcel - Fachbereich Wirtschaftswissenschaft, Freie Universität … - 2008
The paper shows that there is a substantial degree of heterogeneity in the ability of Fed watchers to forecast US … FOMC decisions varies 5 to 10 basis points between the best and worstperformers across the sample. This heterogeneity is … anticipating important events such as monetary policy decisions. Moreover, the paper shows that such heterogeneity is economically …
Persistent link: https://www.econbiz.de/10008533527
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Price Drift before U.S. Macroeconomic News : Private Information about Public Announcements?
Kurov, Alexander - 2017
We examine stock index futures and Treasury futures around the release time of 30 U.S. macroeconomic announcements. Nine of the 20 announcements that move markets show evidence of substantial informed trading before the official release time. Prices begin to move in the “correct” direction...
Persistent link: https://www.econbiz.de/10012971320
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Price Drift Before U.S. Macroeconomic News : Private Information About Public Announcements?
Kurov, Alexander - 2016
We examine stock index and Treasury futures markets around releases of U.S. macroeconomic announcements. Seven out of 21 market-moving announcements show evidence of substantial informed trading before the official release time. Prices begin to move in the "correct" direction about 30 minutes...
Persistent link: https://www.econbiz.de/10012992424