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Monetary and Macroprudential Policies in an Estimated Model with Financial Intermediation

Gelain, Paolo - 2014

We estimate the Smets and Wouters (2007) model augmented with the Gertler and Karadi (2011) financial intermediation sector on US data by using real and financial observables. Given the framework of the estimated model, we address the question whether and how standard monetary policy should...

Persistent link: https://www.econbiz.de/10013054256

Evolução da política do recolhimento compulsório no Brasil pós-real

Cavalcanti, Marco Antônio Freitas de Hollanda; Vonbun, … - 2013

We present a detailed survey of changes in the reserve requirement system in Brazil and analyze the system's main functions and goals during the period from 1994 to 2012. We identify four different subperiods with respect to the use of this policy tool. In the first subperiod, from july 1994 to...

Persistent link: https://www.econbiz.de/10010230124

Monetary and macroprudential policies in an estimated model with financial intermediation

Gelain, Paolo; Ilbas, Pelin - 2014

Persistent link: https://www.econbiz.de/10010355778

Monetary and macroprudential policy games in a monetary union

Dennis, Richard J.; Ilbas, Pelin - 2016

Persistent link: https://www.econbiz.de/10011553578

Monetary and macroprudential policy interactions in a model of the European Union

Dennis, Richard J.; Ilbas, Pelin - 2022

We use the two-country euro-area model developed by Quint and Rabanal (2014) to study policymaking in the European Monetary Union (EMU). We focus on strategic interactions: 1) between an EMU-level monetary authority and an EMU-level macroprudential authority, and; 2) between an EMU-level monetary...

Persistent link: https://www.econbiz.de/10013291498

Effects of Credit Restrictions in the Netherlands and Lessons for Macroprudential Policy

Galati, Gabriele; Kakes, Jan; Moessner, Richhild - 2020

Credit restrictions were used as a monetary policy instrument in the Netherlands from the 1960s to the early 1990s. We study the effects of credit restrictions being active on the balance sheet structure of banks and other financial institutions. We find that banks mainly responded to credit...

Persistent link: https://www.econbiz.de/10014097889

Financial system reforms and China's monetary policy framework: A DSGE-based assessment of initiatives and proposals

Funke, Michael; Paetz, Michael - 2012

This paper evaluates various financial system reform initiatives and proposals in China in a DSGE modelling setting …

Persistent link: https://www.econbiz.de/10012148685

Monetary policy transmission in China: A DSGE model with parallel shadow banking and interest rate control

Funke, Michael; Mihaylovski, Petar; Zhu, Haibin - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2015

sector in mainland China by means of a nonlinear stochastic general equilibrium (DSGE) model with occasionally binding …, tighter regulation of interest rates in the commercial banking sector in China leads to an increase in loans provided by the …

Persistent link: https://www.econbiz.de/10011204441

Financial system reforms and China’s monetary policy framework: A DSGE-based assessment of initiatives and proposals

Funke, Michael; Paetz, Michael - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2012

This paper evaluates various financial system reform initiatives and proposals in China in a DSGE modelling setting …

Persistent link: https://www.econbiz.de/10010818554

An Institutional Analysis of China’s Reform of their Monetary Policy Framework

Zengping, He - 2019

This paper traces the history of China's reform of its monetary policy framework and analyzes its success and problems …. In the context of financial marketization and the failure of the quantity-targeting framework, the People's Bank of China … China's Treasury Single Account system. The missing role of the Treasury in monetary policy operations increases the …

Persistent link: https://www.econbiz.de/10012888989