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Safe asset scarcity and aggregate demand
Caballero, Ricardo J.; Farhi, Emmanuel; Gourinchas, … - 2016
Persistent link: https://www.econbiz.de/10011484511
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Safe asset scarcity and aggregate demand
Caballero, Ricardo J.; Farhi, Emmanuel; Gourinchas, … - 2016
Persistent link: https://www.econbiz.de/10011451779
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Safe asset scarcity and aggregate demand
Caballero, Ricardo J.; Farhi, Emmanuel; Gourinchas, … - In: The American economic review 106 (2016) 5, pp. 513-518
Persistent link: https://www.econbiz.de/10011700189
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Safe Asset Scarcity and Aggregate Demand
Caballero, Ricardo J. - 2016
We explore the consequences of safe asset scarcity on aggregate demand in a stylized IS-LM/Mundell Fleming environment. Acute safe asset scarcity forces the economy into a “safety trap” recession. In the open economy, safe asset scarcity spreads from one country to the other via capital...
Persistent link: https://www.econbiz.de/10012997884
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Quantitative easing,safe asset scarcity and bank lending
Tischer, Johannes - 2021
their collateral supply is determined by their ex ante securities holdings and repo rates. Second, it makes use of the …
Persistent link: https://www.econbiz.de/10012651072
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The safety trap
Caballero, Ricardo J.; Farhi, Emmanuel - 2014
Persistent link: https://www.econbiz.de/10010258244
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Safe asset scarcity and re-use in the European repo market
Inhoffen, Justus; Lelyveld, Iman van - 2023
We construct the first measure of collateral re-use at the bank and bond level for the European repo market using a … than liquidity and profit from the repo rate spread. Yet, dealers also re-use collateral to source liquidity which exposes … them to collateral runs. Our results contribute to the policy debate on trade-offs between shock absorption and financial …
Persistent link: https://www.econbiz.de/10014334524
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Quantitative Easing, Safe Asset Scarcity and Bank Lending
Tischer, Johannes - 2022
their collateral supply is determined by their ex ante securities holdings and repo rates. Second, it makes use of the …
Persistent link: https://www.econbiz.de/10013313459
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The costs of macroprudential deleveraging in a liquidity trap
Chen, Jiaqian; Finocchiaro, Daria; Lindé, Jesper; … - 2020
We examine the effects of various borrower-based macroprudential tools in a New Keynesian environment where both real and nominal interest rates are low. Our model features long-term debt, housing transaction costs and a zero-lower bound constraint on policy rates. We find that the long-term...
Persistent link: https://www.econbiz.de/10012251966
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The costs of macroprudential deleveraging in a liquidity trap
Chen, Jiaqian; Finocchiaro, Daria; Lindé, Jesper; … - In: Review of economic dynamics 51 (2023), pp. 991-1011
Persistent link: https://www.econbiz.de/10014472441