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The Impact of Unconventional Monetary Policies : Evidence from Corporate Credit Markets

Wang, Liying - 2014

This paper examines the impact of unconventional monetary policies (UMPs), including Quantitative Easing (QE), Operation Twist (OT), and Forward Guidance (FG), on corporate credit markets. These policies were expected to reduce credit spreads by decreasing credit risk premium and/or liquidity...

Persistent link: https://www.econbiz.de/10013054826

Optimal Credit, Monetary, and Fiscal Policy Under Occasional Financial Frictions and the Zero Lower Bound

Jiang, Shifu - 2022

I study optimal credit, monetary, and ﬁscal policy under commitment in a model where ﬁnancial intermediaries face an occasionally binding ﬁnancial constraint; the monetary authority faces a zero lower bound (ZLB); and the ﬁscal authority faces a budget constraint. Despite being inactive...

Persistent link: https://www.econbiz.de/10013292986

Did QE Lead Banks to Relax Their Lending Standards? Evidence from the Federal Reserve's Lsaps

Kurtzman, Robert J.; Luck, Stephan; Zimmermann, Tom - 2017

Using confidential loan officer survey data on lending standards and internal risk ratings on loans, we document an effect of large-scale asset purchase programs (LSAPs) on lending standards and risk-taking. We exploit cross-sectional variation in banks? holdings of mortgage-backed securities to...

Persistent link: https://www.econbiz.de/10014352384

Income Distribution, Credit and Fiscal Policies in an Agent-Based Keynesian Model

Dosi, Giovanni - 2012

This work studies the interactions between income distribution and monetary and fiscal policies in terms of ensuing dynamics of macro variables (GDP growth, unemployment, etc.) on the grounds of an agent-based Keynesian model. The direct ancestor of this work is the "Keynes meeting Schumpeter"...

Persistent link: https://www.econbiz.de/10013111986

Dollarization as an Investment Signal in Developing Countries : The Case of Croatia, Czech Republic, Peru, Slovak Republic and Turkey

Salvatore, Dominick - 2008

In dollarized financial systems, there exists a currency mismatch risk that could lead to financial crises. Central Banks in such economies have to adjust their foreign currency policies accordingly. This paper estimates the probability of Central Bankers' intervention in the foreign currency...

Persistent link: https://www.econbiz.de/10012723080

The CNB's Foreign Exchange Reserve Management and Changes to it Since 2017

Mora, Marek - 2019

The foreign exchange reserves of the Czech National Bank (CNB) increased roughly three and a half times to EUR 124.6 billion while the exchange rate commitment was in place between November 2013 and April 2017. This unprecedented growth has led the CNB to review how the reserves are managed....

Persistent link: https://www.econbiz.de/10012857994

Supervisory and statistical granular data modelling at the Croatian National Bank

Bašić, Ines - 2017

already implemented integrated "statistical" and supervisory reporting requirements at a granular level. Croatia is one of … these countries. Moreover, Croatia has been able to produce a local "AnaCredit" system on a loan-by-loan basis for legal …, described and explained, and where examples and the methodologies used are provided. In Croatia, the CNB Banks' Integrated …

Persistent link: https://www.econbiz.de/10011745807

It Is not about Croatia and Bulgaria : It Is about the Fundamentals of Membership of the Euro Area

Bobeva, Daniela - 2023

the separate article in this issue – about the decision to let Croatia into the euro area while keeping Bulgaria out; and …, furthermore, the applications of Croatia and Bulgaria for entry to the euro area are a perfect example of why the whole framework …

Persistent link: https://www.econbiz.de/10014256536

The Euro in Central and Eastern Europe (CEE countries) : survey evidence from five countries

Stix, Helmut - In: CESifo Forum 03 (2002) 3, pp. 33-38

Persistent link: https://www.econbiz.de/10011695706

From the Impossible Monetary Trinity towards Economic Depression

Zdunic, Stjepan - 2013

dynamics of growth of transition economies of Central and Eastern Europe with special retrospect to Croatia. In the research we … Croatia and Poland. We determine a significant regression interconnection between fiscal and balance of payments deficits for … the group of transition countries, and individually for Croatia, with the exception of Poland and Eurozone. Furthermore …

Persistent link: https://www.econbiz.de/10013082276