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Cyclical investment behavior across financial institutions

Timmer, Yannick - 2016

This paper examines the investment behavior of different financial institutions in debt securities with a particular focus on their response to price changes. For identification, we use security-level data from the German Microdatabase Securities Holdings Statistics. Our results suggest that...

Persistent link: https://www.econbiz.de/10011975050

Dealing with large and volatile capital flows and the role of the IMF

IRC Task Force on IMF Issues - 2016

Persistent link: https://www.econbiz.de/10011590674

Liberalised capital accounts and volatility of capital flows and foreign exchange rates

Bogdanov, Bogdan - 2014

Persistent link: https://www.econbiz.de/10010440038

International capital flows and the boom-bust cycle in Spain

Veld, Jan in 't; Kollmann, Robert; Pataracchia, Beatrice; … - 2014

Persistent link: https://www.econbiz.de/10010440835

Implications of macroeconomic volatility in the Euro area

Hauzenberger, Niko; Böck, Maximilian; Pfarrhofer, Michael - 2018

In this paper we estimate a Bayesian vector autoregressive model with factor stochastic volatility in the error term to …

Persistent link: https://www.econbiz.de/10011978764

Time-varying business volatility, price setting, and the real effects of monetary policy

Bachmann, Ruediger; Born, Benjamin; Elstner, Steffen; … - 2013

Does time-varying business volatility affect the price setting of firms and thus the transmission of monetary policy … Climate Survey the impact of idiosyncratic volatility on the price setting behavior of firms. In a second step, we use a … calibrated New Keynesian business cycle model to gauge the effects of time-varying volatility on the transmission of monetary …

Persistent link: https://www.econbiz.de/10009767295

Growth-promoting policies and macroeconomic stability

Sutherland, Douglas; Höller, Peter - 2013

Policy reforms aimed at boosting long-run growth often have side effects – positive or negative – on an economy’s vulnerability to shocks and their propagation. Macroeconomic shocks as severe and protracted as those since 2007 warrant a reconsideration of the role growth-promoting policies...

Persistent link: https://www.econbiz.de/10010231015

Procyclical asset management and bond risk premia

Barbu, Alexandru; Fricke, Christoph; Mönch, Emanuel - 2021

We use unique institutional securities holdings data to examine the trading behaviour of delegated institutional capital and its impact on bond risk premia. We show that institutional fund managers trade strongly procyclically: they actively move into higher yielding, longer duration and lower...

Persistent link: https://www.econbiz.de/10012485994

Addressing the safety trilemma : a safe sovereign asset for the eurozone

Riet, Ad van - 2017

At the 25th anniversary of the Maastricht Treaty, this paper reviews the merits of introducing a safe sovereign asset for the eurozone. The triple euro area crisis showed the costly consequences of ignoring the "safety trilemma". Keeping a national safe sovereign asset (the German bund) as the...

Persistent link: https://www.econbiz.de/10011975765

The monetary presentation of the euro area balance of payments

Bê Duc, Louis; Mayerlen, Frank; Sola, Pierre - 2008

This occasional paper describes the monetary presentation of the euro area balance of payments and its use. The monetary presentation is a tool for assessing the impact of balance of payments transactions involving non-bank residents on monetary developments. The paper explains in detail the...

Persistent link: https://www.econbiz.de/10011639787

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