Results 121 to 130 of about 4,736,729 (247)

Banking with Inside Money: An Efficiency Analysis

Journal of Money, Credit and Banking, EarlyView.
Abstract We show that banks do not decentralize the first best in a nominal Diamond–Dybvig economy with inside money. Furthermore, state‐contingent deposit contracts do not expand the consumption possibility set to include the first best either. Central banks can improve welfare but only for savers and only with unconventional monetary policy. Finally,
DAVID RIVERO, HUGO RODRÍGUEZ MENDIZÁBAL   +1 more
wiley   +1 more source

Essays on unconventional monetary policy

, 2023
This dissertation studies the synergies and trade-offs between unconventional monetary policy instruments and their interactions with macro-prudential policy. The complementarities between policy tools played a critical role in the monetary response to the Covid-19 pandemic, but they have been overlooked by the literature.
openaire   +3 more sources

Quantitative Tightening Around the Globe: What Have We Learned?

Journal of Money, Credit and Banking, EarlyView.
Abstract We use recent cross‐country experiences to assess the impact of shrinking central bank balance sheets through quantitative tightening (QT). QT announcements increase government bond yields, steepening the yield curve and potentially signaling a greater commitment to raising policy interest rates, but have more limited effects on most other ...
WENXIN DU, KRISTIN FORBES, MATTHEW LUZZETTI   +2 more
wiley   +1 more source

Unconventional but Different After All? A Unified Series of Narrative Monetary Policy Shocksa

Journal of Money, Credit and Banking, EarlyView.
Abstract We construct a unified series of narrative monetary policy shocks for the United States that spans both conventional and unconventional policy episodes, combining Romer and Romer's identification with Wu and Xia's shadow rate. The methodological consistency across regimes allows us to formally test whether monetary policy transmission differs ...
DAVID BÜGEL, ALBERT HIDALGO, RALPH LUETTICKE   +2 more
wiley   +1 more source

Monetary policy implementation: common goals but different practices [PDF]

While the goals that guide monetary policy in different countries are very similar, central banks diverge in their methods of implementing policy. This study of the policy frameworks of four central banks—the Federal Reserve, the European Central Bank ...
Marlene Amstad, Antoine Martin
core  

Unconventional monetary policy in a small open economy [PDF]

, 2016
This paper investigates the effects of unconventional monetary policy in Canada. We use recently proposed methods to construct a shadow interest rate that captures monetary policy at the zero lower bound (ZLB) and estimate a small open economy Bayesian ...
MacDonald, Margaux, Popiel, Michal
core  

The new normal? Central banks as social insurers and reputation-protecting political agents

Finance and Society
An idée fixe of Great Moderation economic policy was that central banks are only effective macroeconomic managers when they are segregated from electoral politics.
Will Bateman
doaj   +1 more source

Survey: Competition in Higher Education

Journal of Economic Surveys, EarlyView.
ABSTRACT This paper provides a bibliometric mapping and economic interpretation of the literature on competition in higher education. Drawing on 1470 Scopus‐indexed articles (1961–2023), we combine descriptive bibliometrics, a keyword co‐occurrence network, and a multiple correspondence analysis (MCA) of harmonized author‐assigned keywords with a ...
Amjad Aun
wiley   +1 more source

Borrowing Size and Functions From Nearby Cities: The Mediating Role of Inter‐Municipal Cooperation

Journal of Regional Science, EarlyView.
ABSTRACT This paper first analyzes whether the efficiency of smaller municipalities is associated with the agglomeration advantages of their larger neighbors through “borrowed size” and “borrowed functions” mechanisms. Second, it explores the role of inter‐municipal cooperation (IMC) in these mechanisms.
Juan Piedra‐Peña, Marie‐Laure Breuillé, Julie Le Gallo   +2 more
wiley   +1 more source

Heterogeneous consumers, demand regimes, monetary policy and equilibrium determinacy [PDF]

This paper investigates the effects of monetary policy in presence of heterogeneous consumers. We study the effectiveness (quantitative effects) of monetary policy and equilibrium determinacy properties of a New Keynesian DSGE model where a fraction of ...
Rossi Lorenza, Di Bartolomeo Giovanni
core