Results 31 to 40 of about 74,658 (46)
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Does Monetary Policy Matter? The Narrative Approach after 35 Years
Social Science Research Network, 2023The narrative approach to macroeconomic identification uses qualitative sources, such as newspapers or government records, to provide information that can help establish causal relationships.
Christina D. Romer, D. Romer
semanticscholar +1 more source
Whatever it Takes? The Impact of Conditional Policy Promises
Social Science Research Network, 2023At the announcement of a new policy, agents form a view of state-contingent policy actions and impact. We develop a method to estimate this state-contingent perception and implement it for many asset-purchase interventions worldwide.
Valentin Haddad +2 more
semanticscholar +1 more source
The Fed and the Secular Decline in Interest Rates
The Review of financial studiesThis paper documents a striking fact: a narrow window around Fed meetings captures the entire secular decline in U.S. Treasury yields. Yield movements outside this window are transitory and wash out over time.
Sebastian Hillenbrand
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The ECB's Asset Purchase Programme: An Early Assessment
Social Science Research Network, 2016This paper analyses the effects of the European Central Bank's expanded asset purchase programme (APP) on yields and on the macroeconomy, and sheds some light on its transmission channels.
P. Andrade +4 more
semanticscholar +1 more source
Monetary Policy and the Labor Market: A Quasi-Experiment in Sweden
Social Science Research NetworkWe analyze a monetary quasi–experiment in Sweden from 2010–2011, when the Riksbank raised the interest rate substantially. We argue that this increase was beyond what labor market conditions warranted, driven instead by new concerns about financial ...
J. Coglianese +2 more
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Nonbank Lending and the Transmission of Monetary Policy
Social Science Research NetworkWe analyze the role of nonbank lenders in the transmission of monetary policy using data on the universe of unsecured credit to firms and households in Denmark.
Dominic Cucic, Denis Gorea
semanticscholar +1 more source
Production Networks and the Flattening of the Phillips Curve
Social Science Research NetworkThis paper analyzes the role of changes in the structure of production networks on the flattening of the Phillips curve over the last decades. I build a multi-sector model with production networks, and heterogeneity in input-output linkages and in degree
Christian Höynck
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An Intermediation-Based Model of Exchange Rates
The Review of financial studiesWe develop a continuous-time general equilibrium model with intermediaries at the heart of international financial markets. Global intermediaries bargain with households and extract rents from providing access to foreign claims. By tilting state prices,
S. Malamud, A. Schrimpf, Yuan Zhang
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Fiscal and Monetary Policy Interactions in a Model with Low Interest Rates
American Economic Journal: MacroeconomicsWe provide a new Keynesian model where entrepreneurs face uninsurable idiosyncratic investment risk and credit constraints. Government bonds provide liquidity services.
Jianjun Miao, Dongling Su
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Assessing the Stabilizing Effects of Unemployment Benefit Extensions
American Economic Journal: MacroeconomicsWe study the stabilizing role of benefit extensions. We develop a tractable quantitative model with heterogeneous agents, search frictions, and nominal rigidities.
Alexey Gorn, A. Trigari
semanticscholar +1 more source