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Central Bank Capital as an Instrument of Monetary Policy

Hampl, Mojmir; Havranek, Tomas - 2018

with inflation performance. …

Persistent link: https://www.econbiz.de/10011815066

Funders-of-Last-Resort: Legal Issues Involved in Using Central Bank Balance Sheets to Bolster Economic Growth

Michael, Bryane; Dalko, Viktoria - 2017

What role does unconventional monetary policy - and particularly unconventional policies like private asset purchases under a quantitative easing or lender of last resort scheme - play in influencing economic growth directly? Emerging and developing countries' central banks could contribute to...

Persistent link: https://www.econbiz.de/10011725165

Exchange Rate Pass-through in Russia

Ponomarev, Yuri; Trunin, Pavel V.; Uljukaev, Aleksej V. - 2014

The article provides estimates of short-run and medium-run exchange rate pass-through into domestic prices in Russia during the period of 2000–2012 using vector error correction model. Exchange rate pass-through asymmetry estimates, its assessments on different sub-periods and exchange rate...

Persistent link: https://www.econbiz.de/10011379941

Economics of Fiscal Dominance and Ramifications for the Discharge of Effective Monetary Policy Transmission

Jackson, Emerson Abraham - 2024

This paper explores the intricate dynamics of fiscal dominance and its profound implications for monetary policy efficacy, contributing to the discourse on the interplay between fiscal and monetary policies. The theoretical foundation critically examines existing literature, integrating...

Persistent link: https://www.econbiz.de/10014461456

Price Level Changes and the Redistribution of Nominal Wealth Across the Euro Area

Adam, Klaus; Zhu, Junyi - 2014

, and Belgium and Malta being the largest losers. Governments are net winners of inflation, while the household (HH) sector … Spain turn out to be net winners of inflation. Considerable heterogeneity exists also within the HH sector: relatively young … middle class HHs are net winners of inflation, while older and richer HHs are losers. As a result, wealth inequality for the …

Persistent link: https://www.econbiz.de/10010378324

Credit demand versus supply channels: Experimental- and administrative-based evidence

Michelangeli, Valentina; Peydró, José-Luis; Sette, Enrico - 2021

We identify the relative importance for lending of borrower (demand) versus bank (supply) factors. We submit thousands of fictitious mortgage applications, changing one borrower-level factor at time, to the major Italian online mortgage platform. Each application goes to all banks. We find that...

Persistent link: https://www.econbiz.de/10012622362

Precautionary Liquidity Shocks, Excess Reserves and Business Cycles

Bratsiotis, George J.; Theodoridis, Konstantinos - 2021

This paper identifies a precautionary banking liquidity shock via a set of sign, zero and forecast variance restrictions imposed. The shock proxies the banking sector's reluctance to lend to the real economy induced by an exogenous preference change for liquid assets. Through the lens of a DSGE...

Persistent link: https://www.econbiz.de/10012632159

Credit crunches from occasionally binding bank borrowing constraints

Holden, Tom D.; Levine, Paul; Swarbrick, Jonathan M. - 2017

We present a model in which banks and other financial intermediaries face both occasionally binding borrowing constraints, and costs of equity issuance. Near the steady state, these intermediaries can raise equity finance at no cost through retained earnings. However, even moderately large...

Persistent link: https://www.econbiz.de/10011719158

Monetary System of Georgia in XI-XII centuries and its Effect on Economic Activity

Abuselidze, George - 2018

This works covers peculiarities of formation of Georgian monetary system in XI-XII centuries and their effect on the international financial and economic relations. In this works we have researched the matters of formation of monetary policy of feudal age and their effect on development of...

Persistent link: https://www.econbiz.de/10011782740

Peaceful transition of power in Senegal: How realistic are the new hopefuls' prospects?

Kohnert, Dirk - 2024

The election of Bassirou Diomaye Faye as President of Senegal on March 24, 2024, after a turbulent electoral process, reflects the resilience of Senegal's democratic institutions. It provides an opportunity to strengthen transparent governance and combat inequality. It was the first time since...

Persistent link: https://www.econbiz.de/10014636104