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Russia's Monetary Policy in 2016

Bozhechkova, Alexandra - 2017

In 2016, the Bank of Russia implemented a conservative monetary policy aimed at mitigating inflation. Commercial banks … inflation rate and inflation expectations available during the year, a rather moderate decline in the key rate suggested growth …

Persistent link: https://www.econbiz.de/10012952702

Unconventional Monetary Policy, Bank Lending, and Security Holdings : The Yield-Induced Portfolio Rebalancing Channel

Paludkiewicz, Karol - 2019

Exploiting a granular dataset of banks' security holdings I assess the impact of unconventional monetary policy on bank lending and security holdings. Using a difference-in-differences regression setup and holding the security composition of each bank constant at its level in January 2014, well...

Persistent link: https://www.econbiz.de/10012898444

Russia’s Monetary Policy in 2019

Bozhechkova, Alexandra - 2020

In 2019, a sharp and largely unexpected slowdown in inflation led to a significant easing of monetary policy. Over the … the rising inflation risks in the H2 2018 and early 2019 caused by the raise of the VAT rate at the beginning of 2019, a …'s rhetoric regarding future decisions began to somewhat relax in March-April 2019, as the inflation index passed a local peak (5 …

Persistent link: https://www.econbiz.de/10012823778

Russia's Monetary Policy in 2014

Bozhechkova, Alexandra - 2015

This paper deals with Russia's monetary policy in 2014. The key developments in Russia's monetary policy in 2014 were determined by adverse processes in the Russian economy, which related to the tense geopolitical situation, massive capital outflow and the decline in the price of energy resources

Persistent link: https://www.econbiz.de/10013012786

From Conventional to Unconventional Monetary Policies : The Consequences of the Market-Maker-of-Last-Resort

Giménez Roche, Gabriel - 2015

The increasing importance of commercial banks' noninterest-earning activities rendered conventional monetary policy relatively obsolete in the contemporary economy. It has been a long time since commercial banking was limited to bank lending activities. Indeed, it is now present in practically...

Persistent link: https://www.econbiz.de/10013013672

Bond Markets and Monetary Policy

Buraschi, Andrea - 2015

changes in expected inflation but linked to two alternative channels: an information and a (real) risk premium channel. We …

Persistent link: https://www.econbiz.de/10013020623

Bond Markets and Unconventional Monetary Policy

Buraschi, Andrea - 2015

This paper is a comprehensive study of the discussion and empirical evidence about the impact of unconventional monetary policy on bond markets. The 2007/2008 Financial Crisis marks the beginning of a new monetary policy regime in which central banks engaged in different types of large scale...

Persistent link: https://www.econbiz.de/10013020631

Interest Rates 7 : An Optimal Rate of Interest (the Natural Rate)

Faure, Alexander Pierre - 2014

This is the seventh in a series of seven papers on interest rates and it covers the Wicksell hypothesis, the general interpretation of it, an alternative interpretation, how the alternative interpretation is reconciled with the general interpretation, and its fit with the Taylor rule. A...

Persistent link: https://www.econbiz.de/10013039791

Interest Rates 1 : What are Interest Rates?

Faure, Alexander Pierre - 2014

This is the first in a series of seven papers on interest rates and it covers the basic terms and information required for a fuller understanding of the significance of interest rates: the instruments that interest rates apply to, the bank interest margin which plays an important transmission...

Persistent link: https://www.econbiz.de/10013039796

The Risk-Taking Channel of Monetary Policy Transmission in the Euro-Area

Neuenkirch, Matthias - 2018

, in addition to the standard variables for real GDP growth, inflation, and the monetary policy stance, indicators of bank …

Persistent link: https://www.econbiz.de/10012917006