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  1. Macroprudential policy in the New Keynesian world
    Author: Gersbach, Hans; Hahn, Volker; Liu, Yulin
    Published: [2018]
    Publisher:  CER-ETH - Center of Economic Research at ETH Zurich, Zürich

    We integrate banks and the coexistence of bank and bond financing into an otherwise standard New Keynesian framework. There are two policy-makers: a central banker, who can decide on short-term nominal interest rates, and a macroprudential... more

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 590 (294)
    Inter-library loan:
    No inter-library loan

     

    We integrate banks and the coexistence of bank and bond financing into an otherwise standard New Keynesian framework. There are two policy-makers: a central banker, who can decide on short-term nominal interest rates, and a macroprudential policy-maker, who can vary aggregate capital requirements. The two policy instruments can be used to stabilize shocks, to moderate bank credit cycles, and to induce a more efficient allocation of resources across sectors. Moreover, we investigate the optimal combination of simple policy rules for interest rates and capital requirements. The optimal policy rules imply that the central bank should focus exclusively on price stability and the macroprudential policy-maker should react exclusively to changes in loan rate premia.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/194117
    Series: Working paper / CER-ETH - Center of Economic Research at ETH Zurich ; 18, 294 (August 2018)
    Subjects: central banks; banking regulation; capital requirements; optimal monetary policy
    Scope: 1 Online-Ressource (circa 60 Seiten), Illustrationen
  2. Measuring uncertainty of optimal simple monetary policy rules in DSGE models
    Author: Górajski, Mariusz; Kuchta, Zbigniew
    Published: [2018]
    Publisher:  Faculty of Economics and Sociology, University of Lodz, [Lodz]

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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 642
    Inter-library loan:
    No inter-library loan
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 11089/26083
    Series: Lodz economics working papers ; 2018, 6
    Subjects: optimal monetary policy; DSGE; uncertainty
    Scope: 1 Online-Ressource (circa 33Seiten), Illustrationen
  3. Lending relationships and optimal monetary policy
    Author: Rocheteau, Guillaume; Wong, Tsz-Nga; Zhang, Cathy
    Published: [2018]
    Publisher:  [Krannert School of Management, Purdue University, Institute for Research in the Behavioral, Economic, and Management Sciences], [West Lafayette, Indiana]

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Edition: This version: April 2018
    Series: Purdue University Economics Department working paper ; no. 1306
    Subjects: Credit relationships; banks; optimal monetary policy
    Scope: 1 Online-Ressource (circa 78 Seiten), Illustrationen