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The implementation of economic reforms under new economic policies in India was associated with a paradigmatic shift in monetary and fiscal policy. While monetary policies were solely aimed at "price stability" in the neoliberal regime, fiscal policies were characterized by the objective of...
Persistent link: https://www.econbiz.de/10010385761
In this paper I evaluate the quantitative effects of the Czech National Bank's commitment to keep the Koruna from appreciating that were put in place in 2013. I focus its on the impact on output, unemployment, and inflation. I use the synthetic control method, which allows me to compute the...
Persistent link: https://www.econbiz.de/10011515767
Monetary policies are very important in any economy. However, they are dominantly hectic and characterized with frequent changes in developing countries. In Sudan, there were many changes during the past three decades, mostly were not compatible with coherent economic logic. The country's...
Persistent link: https://www.econbiz.de/10012857118
(duration) channel; (b) Credit and capital constraint channel; and (c) Preferred-habitat and Asset Scarcity channel. Finally, we …
Persistent link: https://www.econbiz.de/10013020631
Persistent link: https://www.econbiz.de/10011702109
In March 2015, the Eurosystem launched its QE-programme. The asset purchases induced a rapid and strong increase in excess reserves, implying a structural liquidity surplus in the euro area banking sector. Against this background, the first part of this paper analyses the Eurosystem's liquidity...
Persistent link: https://www.econbiz.de/10012099037
evolution of bank credit. We use a unique loanlevel dataset comprising multiple credit registers from several European countries … and different types of loans, including corporate loans, mortgages and consumer credit. We merge this rich information …) productive firms than firms with high ex ante credit risk, except for banks with low capital. …
Persistent link: https://www.econbiz.de/10012390482
This paper focuses on policy measures taken to curb the private sector credit growth in the period 2003-2008. Our … applied were effective in slowing down the credit growth. Deriving from country experiences, the paper argues that in order to … domestic environment and role of foreign banks in the CEE region. -- Credit growth ; monetary policy ; macroprudential policy …
Persistent link: https://www.econbiz.de/10009655167
policy is transmitted via the portfolio rebalancing, the signalling, credit easing and exchange rate channels. Spanish real …
Persistent link: https://www.econbiz.de/10011488021
We examine the impact of large-scale asset purchases of government bonds on real GDP and the CPI in the United Kingdom and the United States with a Bayesian VAR, estimated on monthly data from 2009 M3 to 2013 M5. We identify an asset purchase shock with sign and zero restrictions. In contrast to...
Persistent link: https://www.econbiz.de/10010403096