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Macroeconomic Effects of Quantitative Easing Using Mid-sized Bayesian Vector Autoregressions
(2021-10)
The paper estimates macroeconomic effects and decomposes transmission channels of quantitative easing in the United States using 15-variable Bayesian vector autoregressive model with stochastic search variable selection ...
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 ...
Transmission of monetary policy and exchange rate shocks under foreign currency lending
(2017-08)
This paper analyses the differences in reaction of domestic and foreign currency lending to monetary and exchange rate shocks, using a panel VAR model estimated for three biggest Central and Eastern European countries ...
Quantitative Easing During the COVID-19 Pandemic: A Cross-Country Study
(2023-06)
This paper estimates the financial market and macroeconomic effects of central bank asset purchases (quantitative easing, QE) in 16 economies which have launched asset purchases for the first time in response to the COVID-19 ...