[PDF] Top 20 Policy uncertainty and informational monopolies: the case of monetary policy

... We study the other altematives and show that when both parties share the same information structure the probability of trade is one; while when buyers are uninformed and sellers are in[r] ... See full document

... analysis of the secular stagnation hypothesis we argued that in case the central banks had “refused to follow what seemed to be a declining trend of the equilibrium real rate ... See full document

... Monetary policy surprises and capital markets: evidences from the Brazilian ...evaluates the effects that monetary policy actions exert on Brazil- ian stock ...By ... See full document

... To the best of my knowledge, this is the first study using the FAVAR approach to explore the credit channel of the monetary policy transmission mechanism for ... See full document

... Leippold and Matthys (2017) emphasize that the EPU index combines the government policy uncertainty and monetary policy ...government policy ... See full document

... In the case of the bottom quintile of the policy rate the results are in line with what we would ...to the policy rate, past performance will be less ... See full document

... performance of a country depends notably on the relation between monetary and fiscal ...data and an individual set of 14 EU countries from 1970 to 2012, we study the type ... See full document

... studied the effects on the small firms’ financing of sovereign stress and of the unconventional euro area monetary policy during the period of ... See full document

... in the last section shows that default costs may in theory turn the e −R relationship upside down if Rb is above a certain threshold (a kind of fiscal dominance ...causality and omitted ... See full document

... On the monetary side, the one-size-fits-all policy gave extra impulse to the new spending ...after the introduction of the euro, the German economy was not ... See full document

... from the economic growth and the low interest rates, borrowing more than necessary and in a contagious ...where the interests increase as a result of the tightening ... See full document

... when the standard model is generalized to account for seasonal movements in output and ...sorts of frictions in the economy. But the very existence of these frictions mean that ... See full document

... that the economies chosen underwent successive foreign exchange crises during the period studied, it is quite possible that the parameters were also subject to substantial changes during this ... See full document

... is the finding that even an expectations-based reaction function based on the conventional objective is no longer a guarantee for determinacy in general, when the actual economy exhibits ... See full document

... severe policy dilemma posed by a declining equilibrium real rate of ...In the presence of such a phenomenon, a central bank has two ...options. The first one is to recognize that ... See full document

... Based on three versions of a small macroeconomic model for Brazil, this paper presents empirical evidence on the effects of parameter uncertainty on monetary policy rules and on the [r] ... See full document

... 217 Financial Stability and Monetary Policy – The case of Brazil Benjamin M. Cajueiro[r] ... See full document

... Given the presence of conditional heteroskedasticity and constant conditional correlations, the empirical exercise draws on a VAR-X-CCC-GARCH model, which is then adjusted to include ... See full document

... reinterprets the sticky-information approach to monetary policy pioneered by Mankiw and Reis ...In the original framework, information is sticky because …rms are heteroge- neous in what ... See full document

... elements of Heterodox and orthodox, when applied to countries to prevent a crisis or to get rid of the crisis, economic stability literally cannot be seen in these ...countries. The ... See full document