Results 151 to 160 of about 4,029 (266)
Essays on Unconventional Monetary Policy
, 2017 Monetary policy since the global financial crisis of 2007/08 has contended with the 'unknown unknowns' associated with Knightian uncertainty rather than the 'known unknowns' associated with risk. We find that when a policymaker knows neither the parameters of his model nor the probability distribution from which those parameters are drawn, more fear of
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Should they stay or should they go? Negative interest rate policies under review. [PDF]
Int Econ Econ Policy, 2022 Beckmann J, Gern KJ, Jannsen N.
europepmc +1 more source
Monetary Policy Strategy: Lessons from the Crisis [PDF]
This paper examines what we have learned and how we should change our thinking about monetary policy strategy in the aftermath of the 2007-2009 financial crisis.
Frederic S. Mishkin
core
The Role of Labour Market Institutions in Shaping Euro Area Monetary Policy Transmission
Oxford Bulletin of Economics and Statistics, EarlyView.ABSTRACT We examine how labour market institutions shape monetary policy transmission in euro area countries. A theoretical model suggests that higher union density flattens the Phillips curve, amplifying output responses while dampening the inflation effects of monetary shocks. This is empirically confirmed using an interacted panel VAR.
Maximilian Boeck, Christian Glocker
wiley +1 more source
Oxford Bulletin of Economics and Statistics, EarlyView.ABSTRACT Since the seminal contributions of Friedman and Schwartz and of Hendry and Ericsson, instability in money demand has remained a central issue in the literature. This study broadens and generalizes the first evidence for the United Kingdom of stable long‐ and short‐run broad money demand extending back to the nineteenth century. Using nonlinear
Álvaro Escribano +2 more
wiley +1 more source
Unconventional monetary policies
, 2012 Unconventional monetary policies in the United States (2007- 2010) in the light of the Japanese experience (1999-2006). Were the Fed’s unconventional monetary policies effective during the 2007-2010 crisis? Have the ECB unconventional monetary policies lowered market borrowing costs for banks and governments? Disaster Risk in a New Keynesian Model.
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Is There an Information Channel of Monetary Policy?
Oxford Bulletin of Economics and Statistics, EarlyView.ABSTRACT Exploiting the heteroskedasticity of the changes in short‐term and long‐term interest rates and exchange rates around the FOMC announcement, we identify three structural monetary policy shocks. We eliminate the predictable part of the shocks and study their effects on financial variables and macro variables.
Oliver Holtemöller +2 more
wiley +1 more source
Modeling Outcomes of Unconventional Monetary Policy
, 2019 The paper presents a study of the outcomes of the unconventional monetary policy methods that the central banks of developed countries have been applying during and after the global financial crisis.
Alekseievska, Halyna S. +5 more
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Large‐Dimensional Cointegrated Threshold Factor Models: The Global Term Structure of Interest Rates
Oxford Bulletin of Economics and Statistics, EarlyView.ABSTRACT In this paper we extend the two‐level factor model to account for cointegration between group‐specific factors in large datasets. We propose two nonlinear specifications: (i) a threshold vector error correction model (VECM) that allows for asymmetric adjustment across regimes; and (ii) a band VECM that captures state‐dependent adjustment which
Daniel Abreu, Paulo M. M. Rodrigues
wiley +1 more source