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output for the Euro area, the United States, Sweden, Australia, and the United Kingdom. Particular attention is paid to time …
Persistent link: https://www.econbiz.de/10003516685
Persistent link: https://www.econbiz.de/10003878363
Forward guidance about future policy settings, in the form of a published policy-rate path, has for many years been a natural part of normal monetary policy for several central banks, including the Reserve Bank of New Zealand and the Swedish Riksbank. More recently, the Federal Reserve has...
Persistent link: https://www.econbiz.de/10012457870
The relative popularity of adjustable-rate mortgages (ARMs) and fixed-rate mort- gages (FRMs) varies considerably both across countries and over time. We ask how movements in current and expected future interest rates affect the share of ARMs in total mortgage issuance. Using a nine-country...
Persistent link: https://www.econbiz.de/10012458258
Eurozone countries today) and two - Finland and Sweden - after floating the currency … driver of growth was exports. In Ireland this occurred because the sterling coincidentally appreciated. In Finland and Sweden …
Persistent link: https://www.econbiz.de/10012461087
Persistent link: https://www.econbiz.de/10010480480
We assess the power of forward guidance--promises about future interest rates--as a monetary tool in a liquidity trap using a quantitative incomplete-markets model. Our results suggest the effects of forward guidance are negligible. A commitment to keep future nominal interest rates low for a...
Persistent link: https://www.econbiz.de/10012453195
- Finland and Sweden - after floating the currency. All four fiscal episodes were associated with an expansion; but only in … sterling coincidentally appreciated. In Finland and Sweden the currency experienced an extremely large depreciation after … wage negotiation process. In Finland and Sweden, the adoption of inflation targeting at the same time of the consolidation …
Persistent link: https://www.econbiz.de/10013067012
The relative popularity of adjustable-rate mortgages (ARMs) and fixed-rate mort- gages (FRMs) varies considerably both across countries and over time. We ask how movements in current and expected future interest rates affect the share of ARMs in total mortgage issuance. Using a nine-country...
Persistent link: https://www.econbiz.de/10013048590
Sweden than in the Euro area, United Kingdom and United States. The pass-through from money market rates to retail rates is …
Persistent link: https://www.econbiz.de/10013050452