Results 1 to 10 of about 81,728 (42)

Fiscal Policy and the Monetary Transmission Mechanism

Review of economic dynamics (Print), 2023
The economy’s response to monetary policy depends on its fiscal backing. We present a novel decomposition of the equilibrium that links the wealth effect, i.e.
Nicolas Caramp, D. Silva
semanticscholar   +1 more source

Macroeconomic Stabilisation Properties of a Euro Area Unemployment Insurance Scheme

Social Science Research Network, 2023
In this paper we use a medium-scale DSGE model to quantitatively assess the macroeconomic stabilisation properties of a supranational unemployment insurance scheme.
Christoph Kaufmann, M. Attinasi, Sebastian Hauptmeier   +2 more
semanticscholar   +1 more source

Monetary Policy and Bubbles in a New Keynesian Model with Overlapping Generations

American Economic Journal: Macroeconomics, 2020
I analyze an extension of the New Keynesian model that features overlapping generations of finitely lived agents and (stochastic) transitions to inactivity.
J. Gaĺı
semanticscholar   +1 more source

COVID-19 and Non-Performing Loans: Lessons from past Crises

Social Science Research Network, 2020
During crises, the number of loans that cannot be paid back increases. What are the lessons from past crises for non-performing loan resolution after COVID-19?
Lev Ratnovski
semanticscholar   +1 more source

Limited asset market participation and monetary policy in a small open economy

Journal of Economic Dynamics and Control
Limited asset market participation (LAMP) and trade openness are crucial features that characterize all real-world economies. We study equilibrium determinacy and optimal monetary policy in a model of a small open economy with LAMP.
Paul Levine, S. McKnight, A. Mihailov, Jonathan Swarbrick   +3 more
semanticscholar   +1 more source

Efficient Bailouts?

, 2016
We develop a quantitative equilibrium model of financial crises to assess the interaction between ex post interventions in credit markets and the buildup of risk ex ante. During a systemic crisis, bailouts relax balance sheet constraints and mitigate the
Javier Bianchi
semanticscholar   +1 more source

A MONETARY BUSINESS CYCLE MODEL FOR INDIA

Economic Inquiry, 2019
A New Keynesian monetary business cycle model is constructed to study why monetary transmission in India is weak. Our models feature banking and financial sector frictions as well as an informal sector. The predominant channel of monetary transmission is
S. Banerjee, P. Basu, Chetan Ghate
semanticscholar   +1 more source

Fighting Crises with Secrecy

, 2020
How does central bank lending during a crisis restore confidence? Emergency lending facilities that are opaque (in that names of borrowers are kept secret) raise the perceived average quality of bank assets in the economy, creating an information ...
Gary B. Gorton, Guillermo Ordoñez
semanticscholar   +1 more source

Monetary Policy, Segmentation, and the Term Structure

Social Science Research Network
We develop a segmented markets model which rationalizes the effects of monetary policy on the term structure of interest rates. As in the preferred habitat tradition, habitat investors and arbitrageurs trade bonds of various maturities.
Rohan Kekre, M. Lenel, F. Mainardi
semanticscholar   +1 more source

One Scheme Fits All: A Central Fiscal Capacity for the Emu Targeting Eurozone, National and Regional Shocks

Social Science Research Network
This paper proposes a central fiscal capacity for the euro area that generates transfers in response to euro area, country, and region-specific shocks.
R. Beetsma, J. Cimadomo, Josha Van Spronsen   +2 more
semanticscholar   +1 more source