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Is monetary policy symmetrical in its effect on sectoral output?

Singh, Sunny Kumar; Rao, D. Tripati - In: Economics, management and financial markets 13 (2018) 1, pp. 11-31

Persistent link: https://www.econbiz.de/10011891611

Fiscal policy shocks and stock prices in the United States

Mumtaz, Haroon; Theodoridis, Konstantinos - 2017

This paper uses a range of structural VARs to show that the response of US stock prices to fiscal shocks changed in 1980. Over the period 1955-1980 an expansionary spending or revenue shock was associated with modestly higher stock prices. After 1980, along with a decline in the fiscal...

Persistent link: https://www.econbiz.de/10011627039

Fiscal policy shocks and stock prices in the United States

Mumtaz, Haroon; Theodoridis, Konstantinos - 2018

This paper uses a range of structural VARs to show that the response of US stock prices to fiscal shocks changed in 1980. Over the period 1955-1979 an expansionary spending or revenue shock was associated with modestly higher stock prices. After 1980, along with a decline in the fiscal...

Persistent link: https://www.econbiz.de/10011887044

A Vectorautoregressive Investment Model (VIM) and monetary policy transmission : panel evidence from German firms

Breitung, Jörg; Chirinko, Robert S.; Kalckreuth, Ulf von - 2003

investment spending as a VAR. Based on a panel of financial statement data for 6,408 German firms (44,345 datapoints … substantive conclusions, this paper demonstrate that the panel VAR approach is useful for modeling firm dynamics and real … realwirtschaftlicher und der finanzieller Sphäre einer Unternehmung bietet sich die Modellierung der Investitionsentscheidung als VAR an …

Persistent link: https://www.econbiz.de/10011432001

The transmission of interest rates shocks to Asia : are effects different below the zero lower bound?

Feldkircher, Martin; Huber, Florian; Pornpinun … - 2017

We use a non-linear factor-augmented vector-autoregressive model to evaluate international effects of an unexpected decrease in euro area policy rates. Given the current environment of ultra low or negative interest rates, we especially focus on potential differences in the transmission of the...

Persistent link: https://www.econbiz.de/10011621228

Credit supply in Venezuela : a non-conventional bank lending channel?

Chirinos, Ana María; Pagliacci, Carolina - 2017

This paper evaluates whether fiscal and foreign exchange policy shocks can explain both credit and credit supply in Venezuela. Empirical evidence suggests that between 65 and 90 percent of credit growth is linked to the buildup of banks' deposits caused by the monetary effects of fiscal...

Persistent link: https://www.econbiz.de/10011660860

Mortgage debt and time-varying monetary policy transmission

Finck, David; Schmidt, Jörg; Tillmann, Peter - 2018

household indebtedness. A timevarying parameter VAR model allows us to study the variation in the mortgage debt sensitivity to … quantitatively similar to the VAR results. A sacrifice ratio for mortgage debt reveals that a policy tightening directed towards …

Persistent link: https://www.econbiz.de/10011803783

Foreign effects of higher U.S. interest rates

Iacoviello, Matteo; Navarro, Gaston - 2018

This paper analyzes the spillovers of higher U.S. interest rates on economic activity in a large panel of 50 advanced and emerging economies. We allow the response of GDP in each country to vary according to its exchange rate regime, trade openness, and a vulnerability index that includes...

Persistent link: https://www.econbiz.de/10011859442

Trusting the bankers : a new look at the credit channel of monetary policy

Ciccarelli, Matteo; Maddaloni, Angela; Peydró, José-Luis - 2010

unique Euro area bank lending surveys. Embedding this information within a standard VAR model, we find that: (1) the credit …

Persistent link: https://www.econbiz.de/10003993969

Interest rate policy and the price puzzle in a quantitative business cycle model

Schabert, Andreas - 2001

mechanism corresponds to their 'Cost Channel of Monetary Transmission' and replicates typical monetary VAR results, including …

Persistent link: https://www.econbiz.de/10009724428

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