Similar Search Results

Distributional consequences of asset price inflation in the euro area

Adam, Klaus; Tzamourani, Panagiota - 2015

correlate with household net wealth (or income). Bond price increases thus leave net wealth inequality largely unchanged. In … from housing price increases. The capital gains from bond price increases (relative to household net wealth) do not … contrast, equity price increases largely benefit the top end of the net wealth (and income) distribution, thus amplify net …

Persistent link: https://www.econbiz.de/10011316626

The European Central Bank's QE : a new hope

Wieladek, Tomasz; Garcia Pascual, Antonio - 2016

We examine the impact of the ECB's QE on Euro Area real GDP and core CPI with a Bayesian VAR, estimated on monthly data from 2012M6 to 2016M4. We assess the total impact via a counter-factual exercise, country-by-country and through alternative transmission channels. QE anouncement shocks are...

Persistent link: https://www.econbiz.de/10011488021

Effects of US quantitative easing on emerging market economies

Bhattarai, Saroj; Chatterjee, Arpita; Park, Woong-yong - 2018

Bayesian VAR on monthly US macroeconomic and financial data, we first identify the US QE shock. The identified US QE shock is … expansionary US QE shock has significant effects on financial variables in EMEs. It leads to an exchange rate appreciation, a …

Persistent link: https://www.econbiz.de/10011786694

Measuring the Effects of Conventional and Unconventional Monetary Policy in the Euro Area

Anttila, Juho - 2018

I estimate the effects of conventional and unconventional monetary policy in the euro area by using a factor-augmented vector autoregression.I complement the standard monetary policy analysis using the short rate with models where the shadow rates by Kortela (2016) and Wu and Xia (2017) are used...

Persistent link: https://www.econbiz.de/10012917974

How does monetary policy affect income and wealth inequality? : evidence from quantitative easing in the Euro Area

Lenza, Michele; Slacalek, Jirka - 2021

Persistent link: https://www.econbiz.de/10012505134

The macroeconomic impact of unconventional monetary policy shocks

Meinusch, Annette; Tillmann, Peter - 2014

With the Federal Funds rate approaching the zero lower bound, the U.S. Federal Reserve adopted a range of unconventional monetary policy measures known as Quantitative Easing (QE). Quantifying the impact QE has on the real economy, however, is not straightforward as standard tools such as VAR...

Persistent link: https://www.econbiz.de/10010338158

The macroeconomic impact of the ECB's expanded asset purchase programme (APP)

Gambetti, Luca; Musso, Alberto - 2017

) announced by the European Central Bank (ECB) in January 2015. The shock associated to the APP is identified with a combination …

Persistent link: https://www.econbiz.de/10011659350

Mixing QE and interest rate policies at the effective lower bound : micro evidence from the euro area

Bittner, Christian; Rodnyansky, Alexander; Saidi, Farzad; … - 2024

We study the interaction of expansionary rate-based monetary policy and quantitative easing, despite their concurrent implementation, by exploiting heterogeneous banks and the introduction of negative monetary-policy rates in a fragmented euro area. Quantitative easing increases credit supply...

Persistent link: https://www.econbiz.de/10014520834

The impact of quantitative easing on bank loan supply and monetary policy implementation in the euro area

Horst, Maximilian; Neyer, Ulrike - 2019

In March 2015, the Eurosystem launched its QE-programme. The asset purchases induced a rapid and strong increase in excess reserves, implying a structural liquidity surplus in the euro area banking sector. Against this background, the first part of this paper analyses the Eurosystem's liquidity...

Persistent link: https://www.econbiz.de/10012099037

Domestic and external monetary policy shocks and economic inequality in the Republic of Korea

Hahm, Joon-ho; Lee, Dong Jin; Park, Cyn-Young - 2022

measures of income and wealth inequality for the Korean economy. Empirical results show that both domestic and external … monetary policy shocks exert significant countercyclical effects on income inequality. For wealth inequality, however, the …This paper investigates the effects of monetary policy shocks on income and wealth inequalities in the Republic of …

Persistent link: https://www.econbiz.de/10013172667