Przeglądaj według tematu "monetary policy"
Wyświetlanie pozycji 1-5 z 5
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On the limits of macroprudential policy
(2016-02)This paper studies how macroprudential policy tools can complement the interest rate-based monetary policy in achieving a selection of dual stabilization objectives. We show analytically in a canonical New Keynesian model ... -
Intergenerational redistributive effects of monetary policy
(2021-03)This paper investigates the distributional consequences of monetary policy across generations. We use a life-cycle model with a rich asset structure as well as nominal and real rigidities calibrated to the euro area using ... -
Monetary policy and COVID-19
(2021-07)We study the macroeconomic effects of the COVID-19 epidemic in a quantitative dynamic general equilibrium setup with nominal rigidities. We evaluate various containment policies and show that they allow to dramatically ... -
The Role of the Monetary Policy Stance for the Goverment Spending Multiplier in Poland
(2022-11)We empirically explore monetary and fiscal policy coordination in Poland. In particular, we study whether the empirical effects of a government spending shock on output depend on the stance of monetary policy. We find no ... -
A Theory of The Procyclical Effectiveness of Forward Guidance
(2022-12)I study the dependence of the forward guidance effectiveness on the level of economic slack. I use the model with price rigidities and uninsured unemployment risk and apply both analytical and numerical methods to study ...