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Sutherland, Douglas; Höller, Peter; Merola, Rossana; … - 2012

Debt levels have surged since the mid-1990s and have reached historic highs across the OECD. High debt levels can … create vulnerabilities, which amplify and transmit macroeconomic and asset price shocks. Furthermore, high debt levels hinder … shocks. The empirical evidence suggests that when private sector debt levels, particularly for households, rise above trend …

Persistent link: https://www.econbiz.de/10009696443

Debt stabilization in a non-Ricardian economy

Leith, Campbell B.; Moldovan, Ioana R.; Wren-Lewis, Simon - 2011

Persistent link: https://www.econbiz.de/10009387262

Does broad money matter for interest rate policy?

Brückner, Matthias; Schabert, Andreas - 2002

This paper presents a business cycle model with financial intermediation encompassing the conventional New Keynesian model. Households' financial wealth comprises cash and interest bearing deposits. When deposits provide transaction services, real broad money, which is predetermined, affects...

Persistent link: https://www.econbiz.de/10010518125

Was Anna Schwartz right? : the role of government size and the exchange rate regime for macroeconomic stability

Wegmueller, Philipp - 2014

I contribute to the resurging debate on the reform of the international monetary system by asking: How does the size of the public sector under different exchange rate regimes affect macroeconomic stability and welfare? In response to a meeting of the Bretton Woods Commission in 1993, renowned...

Persistent link: https://www.econbiz.de/10010402224

Early warning indicators : financial and macroeconomic imbalances in Central and Eastern European countries

Csortos, Orsolya; Szalai, Zoltán - 2014

In this paper we apply the Early Warning System methodology to ten Central and Eastern European Countries to find useful sets of indicators which could predict macroeconomic and financial imbalances. We argue that finding such indicators is crucial in the current monetary policy framework...

Persistent link: https://www.econbiz.de/10010403026

Money supply and the implementation of interest rate targets

Schabert, Andreas - 2005

In this paper, we analyze the relation between interest rate targets and money supply in a (bubble-free) rational expectations equilibrium of a standard cash-in-advance model. We examine lump-sum injections of money aimed to implement interest rate sequences that satisfy interest rate target...

Persistent link: https://www.econbiz.de/10011343954

Robust-less-fragile : tackling systemic risk and financial contagion in a macro agent-based model

Pallante, Gianluca; Guerini, Mattia; Napoletano, Mauro; … - 2024

We extend the Schumpeter meeting Keynes (K+S; see Dosi et al., 2010, 2013, 2015) to model the emergence and the dynamics of an interbank network in the money market. The extended model allows banks to directly exchange funds, while evaluating their interbank positions using a network- based...

Persistent link: https://www.econbiz.de/10014500985