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The Chicago Plan revisited : conference paper

Benes, Jaromir; Kumhof, Michael - 2014

support for all four of Fisher's claims. Furthermore, output gains approach 10 percent, and steady state inflation can drop to …

Persistent link: https://www.econbiz.de/10010481421

Bank risk taking, credit booms and monetary policy : conference paper

Afanasyeva, Elena; Guentner, Jochen - 2014 - Very preliminary and incomplete, This version: February 28, 2014

This paper investigates the risk-taking channel of monetary policy on the asset side of banks' balance sheets. We use a factor-augmented vector autoregression (FAVAR) model to show that aggregate lending standards of U.S. banks, e.g. their collateral requirements for firms, are significantly...

Persistent link: https://www.econbiz.de/10010485247

Interest rate bands of inaction and play-hysteresis in domestic investment : evidence for the euro area

Belke, Ansgar; Frenzel Baudisch, Coletta; Göcke, Matthias - 2019

The interest rate represents an important monetary policy tool to steer investment in order to reach price stability …. Therefore, implications of the exact form and magnitude of the interest rate-investment nexus for the European Central Bank … impact of changes in the interest rate on macroeconomic investment under certainty and under uncertainty to investigate …

Persistent link: https://www.econbiz.de/10012063971

Interest rate bands of inaction and play-hysteresis in domestic investment : evidence for the Euro area

Belke, Ansgar; Frenzel Baudisch, Coletta; Göcke, Matthias - 2019

Persistent link: https://www.econbiz.de/10012099559

Interest rate bands of inaction and play-hysteresis in domestic investment : evidence for the euro area

Belke, Ansgar; Frenzel Baudisch, Coletta; Göcke, Matthias - 2019

Persistent link: https://www.econbiz.de/10012034406

Interest rate bands of inaction and play-hysteresis in domestic investment : evidence for the euro area

Belke, Ansgar; Frenzel Baudisch, Coletta; Göcke, Matthias - 2019

Persistent link: https://www.econbiz.de/10012151693

Net worth ratio and financial instability

Watanabe, Toshio - In: Journal of economic structures : JES; the official … 2 (2013), pp. 1-18

formulate a model of financing. New Keynesian theory emphasizes that a firm’s net worth influences investment decisions and … bank’s lending reaction to the net worth ratio is more elastic than investment reaction. When the steady state is the …

Persistent link: https://www.econbiz.de/10010186054

Credit Market Distortions, Asset Prices and Monetary Policy

Pfajfar, Damjan - 2012

policy rate to bank-lending rates. Strong cost-side effects heavily constrain the policy rate response to inflation from … above, so that inflation targeting policies may not be capable of ensuring REE uniqueness. In such cases, it is advisable to … combine inflation responses with an appropriate reaction to the output gap and/or firm profitability. The negative reaction of …

Persistent link: https://www.econbiz.de/10013111484

The relevance of Haavelmo's macroeconomic theorizing for contemporary macro policy making

Chand, Sheetal K. - 2012

The recent great financial crisis and the ensuing deep recessions have placed in sharp relief the fundamental issue of how financial factors, including financial instability, interact with the real economy. In order to understand the nature of these interactions and formulate policies that would...

Persistent link: https://www.econbiz.de/10010330242

Overdeterminacy and endogenous cycles :Trygve Haavelmo’s business cycle model and its implications for monetary policy

Anundsen, André K.; Krogh, Tord S. H.; Nymoen, Ragnar; … - 2011 - Publisert 10. feb. 2011 11:06

This paper presents the business cycle model that Trygve Haavelmo developed as part of his research program in macroeconomic and monetary theory. Driven by a mismatch between the marginal return to capital and the rate of return required by capital owners, this model generates endogenous cycles....

Persistent link: https://www.econbiz.de/10008825351