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Skalenvorteilen entsprechend zerlegt. Neben diesen Folgen für die Anbieter von Finanzprodukten ist die Geldpolitik, deren … Resonanzboden der Finanzmarkt ist, mit einem veränderten Transmissionsmechanismus konfrontiert. Die Regulierung, die das systemische …
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We document that expansionary monetary policy shocks are less effective at stimulating output and investment in periods of high volatility compared to periods of low volatility, using a regime-switching vector autoregression. The lower effectiveness of monetary policy can be linked to weaker...
Persistent link: https://www.econbiz.de/10011564503
We build a general equilibrium model with financial frictions that impede the effectiveness of monetary policy in stimulating output. Agents with heterogeneous productivity can increase investment by levering up, but this increases interim liquidity risk. In equilibrium, the more productive...
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We document that expansionary monetary policy shocks are less effective at stimulating output and investment in periods of high volatility compared to periods of low volatility, using a regime-switching vector autoregression. The lower effectiveness of monetary policy can be linked to weaker...
Persistent link: https://www.econbiz.de/10012977506
Accommodative global liquidity conditions post-crisis have translated into low domestic borrowing costs and strong domestic credit growth, with household and corporate leverage trending upwards. Bank lending remains the predominant source of financing in Singapore, with cross-border and foreign...
Persistent link: https://www.econbiz.de/10013011670