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New instruments of monetary policy
Chadha, Jagjit; Holly, Sean - 2011
substantial quantities of liquidity into the financial system and seen their balance sheets expand to multiples of GDP. We outline …'s budget constraint. We briefly outline the recent experience with QE and draw a distinction between liquidity and …
Persistent link: https://www.econbiz.de/10008989899
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Macro-prudential policy on liquidity : what does a DSGE model tell us?
Chadha, Jagjit; Corrado, Luisa - 2011
regulating the banking system, in particular for liquidity and capital holdings. Within the context of a micro … macroeconomic shocks alongside hocks to the expected liquidity of banks and to the efficiency of the banking sector. We focus on the … cycle. Overall we find some rationale for Basel III in providing commercial banks with an incentive to hold a greater stock …
Persistent link: https://www.econbiz.de/10008989902
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World real interes rates : a tale of two regimes
Chadha, Jagjit - 2012
Global real interest rates were driven up in the 1980s, partly to encourage disinflation, while subsequently structural and conjunctural factors have driven rates to lower levels. The increase in the global pool of savings and the fiscal correction associated with the long economic expansion...
Persistent link: https://www.econbiz.de/10009532045
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Reserves, liquidity and money : an assessment of balance sheet policies
Chadha, Jagjit; Corrado, Luisa; Meaning, Jack - 2012
of non-conventional monetary policies has provided some evidence on the efficacy of liquidity and asset purchases for … balance sheet operations supply (remove) liquidity to a financial market that is otherwise short (long) of liquidity and hence … reserves ; monetar & fiscal policy instruments ; Basel III. …
Persistent link: https://www.econbiz.de/10009533594
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Accounting for the great recession in the UK : real business cycles and financial frictions
Chadha, Jagjit; Warren, James - 2012
Using the business cycle accounting (BCA) framework pioneered by Chari, Kehoe and McGratten (2006) we examine the 2008-09 recession in the UK. There has been much commentary on the financial causes of this recession, which we might have expected to shock the equation governing the intertemporal...
Persistent link: https://www.econbiz.de/10009533614
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A note on money and the conduct of monetary policy
Chadha, Jagjit; Corrado, Luisa; Holly, Sean - 2013
Prior to the financial crisis mainstream monetary policy practice had become disconnected from money. We outline the basic rationale for this development using a simple model of money and credit in which we explore the conditions under which money matters directly for the conduct of policy....
Persistent link: https://www.econbiz.de/10009744620
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Evolução da política do recolhimento compulsório no Brasil pós-real
Cavalcanti, Marco Antônio Freitas de Hollanda; Vonbun, … - 2013
intensively, with the main objective of providing liquidity to the banking system, but also as a tool for aggregate demand …
Persistent link: https://www.econbiz.de/10010230124
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Stabilisation policy in a model of consumption, housing collateral and bank lending
Chadha, Jagjit; Corrado, Germana; Corrado, Luisa - 2013
We decompose aggregate consumption by modelling both savers and their links to collateral constrained borrowers through a bank which prices credit risk. Savers own both firms and the commercial bank while borrowers require loans from the commercial bank to effect their consumption plans. The...
Persistent link: https://www.econbiz.de/10009787418
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Macro-Prudential Policy on Liquidity : What Does a DSGE Model Tell Us?
Chadha, Jagjit S. - 2011
regulating the banking system, in particular for liquidity and capital holdings. Within the context of a micro … standard macroeconomic shocks alongside shocks to the expected liquidity of banks and to the efficiency of the banking sector … banks. Overall we find some rationale for Basel III in providing commercial banks with an incentive to hold liquid assets …
Persistent link: https://www.econbiz.de/10013125800
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Reserves, Liquidity and Money : An Assessment of Balance Sheet Policies
Chadha, Jagjit S. - 2012
of non-conventional monetary policies has provided some evidence on the efficacy of liquidity and asset purchases for … balance sheet operations supply (remove) liquidity to a financial market that is otherwise short (long) of liquidity and hence …
Persistent link: https://www.econbiz.de/10013107412