Report NEP-MON-2023-01-09

This is the archive for NEP-MON, a report on new working papers in the area of Monetary Economics. Bernd Hayo issued this report. It is usually issued weekly.

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Other reports in NEP-MON

The following items were announced in this report:

• Christophe Blot & Caroline Bozou & Jérôme Creel & Paul Hubert, 2022. "The Conditional Path of Central Bank Asset Purchases," Working papers 885, Banque de France.
• André Marine Charlotte & Medina Espidio Sebastián, 2022. "Optimal Robust Monetary Policy in a Small Open Economy," Working Papers 2022-17, Banco de México.
• Gara Afonso & Darrell Duffie & Lorenzo Rigon & Hyun Song Shin, 2022. "How Abundant Are Reserves? Evidence from the Wholesale Payment System," NBER Working Papers 30736, National Bureau of Economic Research, Inc.
• Michael D. Bordo & William Roberds, 2022. "Central Bank Digital Currencies, an Old Tale With a New Chapter," NBER Working Papers 30709, National Bureau of Economic Research, Inc.
• Martin Harding & Jesper Lindé & Mathias Trabandt, 2022. "Understanding Post-COVID Inflation Dynamics," Staff Working Papers 22-50, Bank of Canada.
• Fungáčová, Zuzana & Kerola, Eeva & Weill, Laurent, 2021. "Does bank efficiency affect the bank lending channel in China?," BOFIT Discussion Papers 3/2021, Bank of Finland Institute for Emerging Economies (BOFIT).
• Aman, Moustapha & Nenovsky, Nikolay, 2022. "Monetary stability and regional currency board: towards a two-tier system to accelerate regional integration in the Horn of Africa: a policy proposal," MPRA Paper 115605, University Library of Munich, Germany.
• Carrasco, Alex & Florian Hoyle, David, 2021. "External Shocks and FX Intervention Policy in Emerging Economies," IDB Publications (Working Papers) 11537, Inter-American Development Bank.
• Clayton, Christopher & Schaab, Andreas, 2022. "A Theory of Dynamic Inflation Targets," TSE Working Papers 22-1389, Toulouse School of Economics (TSE).
• Michael Gurkov & Osnat Zohar, 2022. "Inflation Risks in Israel," Bank of Israel Working Papers 2022.19, Bank of Israel.
• Johannes Schuffels & Clemens Kool & Lenard Lieb & Tom van Veen, 2022. "Is the Slope of the Euro Area Phillips Curve Steeper than It Seems? Heterogeneity and Identification," CESifo Working Paper Series 10103, CESifo.
• Gabriel Jiménez & Dmitry Kuvshinov & José-Luis Peydró & Björn Richter, 2022. "Monetary Policy, Inflation, and Crises: New Evidence from History and Administrative Data," Working Papers 1378, Barcelona School of Economics.
• Florin Bilbiie & Xavier Ragot, 2021. "Optimal Monetary Policy and Liquidity with Heterogeneous Households," Post-Print hal-03501417, HAL.
• Ly Dai Hung, 2022. "Inflation Structure in Vietnam Economy," Working Papers hal-03863173, HAL.
• Gautier Erwan & Conflitti Cristina & Faber Riemer P. & Fabo Brian & Fadejeva Ludmila & Jouvanceau Valentin & Menz Jan-Oliver & Messner Teresa & Petroulas Pavlos & Roldan-Blanco Pau & Rumler Fabio & Sa, 2022. "New Facts on Consumer Price Rigidity in the Euro Area," Working papers 878, Banque de France.
• Andrew T. Levin & Brian L. Lu & William R. Nelson, 2022. "Quantifying the Costs and Benefits of Quantitative Easing," NBER Working Papers 30749, National Bureau of Economic Research, Inc.
• Stefan Nagel & Zhen Yan, 2022. "Inflation Hedging on Main Street? Evidence from Retail TIPS Fund Flows," CESifo Working Paper Series 10118, CESifo.
• Li, Xiaoming & Liu, Zheng & Peng, Yuchao & Xu, Zhiwei, 2021. "Bank risk-taking and monetary policy transmission: Evidence from China," BOFIT Discussion Papers 15/2021, Bank of Finland Institute for Emerging Economies (BOFIT).
• Efrem Castelnuovo & Giovanni Pellegrino & Giacomo Ranzato, 2022. "Delayed Overshooting Puzzle: Does Systematic Monetary Policy Matter?," "Marco Fanno" Working Papers 0280, Dipartimento di Scienze Economiche "Marco Fanno".
• Marco Felici & Geoff Kenny & Roberta Friz, 2022. "Consumer Savings Behaviour at Low and Negative Interest Rates," European Economy - Discussion Papers 172, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
• Francesco Bianchi & Renato Faccini & Leonardo Melosi, 2022. "A Fiscal Theory of Persistent Inflation," NBER Working Papers 30727, National Bureau of Economic Research, Inc.
• Gáti, Laura & Handlan, Amy, 2022. "Monetary communication rules," Working Paper Series 2759, European Central Bank.
• Julien Champagne & Émilien Gouin-Bonenfant, 2022. "Monetary Policy, Credit Constraints and SME Employment," Staff Working Papers 22-49, Bank of Canada.
• Sandra Eickmeier & Boris Hofmann, 2022. "What drives inflation? Disentangling Demand and Supply Factors," CAMA Working Papers 2022-74, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
• Perazzi, Elena & Bacchetta, Philippe, 2022. "CBDC as imperfect substitute to bank deposits: a macroeconomic perspective," MPRA Paper 115574, University Library of Munich, Germany.
• Luccas Assis Attilio & Joao Ricardo Faria & Mauro Rodrigues, 2022. "Does monetary policy impact CO2 Emissions? A GVAR analysis," Working Papers, Department of Economics 2022_24, University of São Paulo (FEA-USP).
• Beckmann, Joscha & Comunale, Mariarosaria, 2021. "Exchange rate fluctuations and the financial channel in emerging economies," BOFIT Discussion Papers 11/2021, Bank of Finland Institute for Emerging Economies (BOFIT).
• Christopher Roth & Mirko Wiederholt & Johannes Wohlfart, 2022. "The Effects of Monetary Policy: Theory with Measured Expectations," Working Papers hal-03878711, HAL.
• Naef, Alain, 2022. "An Exchange Rate History of the United Kingdom, 1945–1992," SocArXiv hd76p, Center for Open Science.
• Jing Cynthia Wu & Yinxi Xie, 2022. "(Un)Conventional Monetary and Fiscal Policy," NBER Working Papers 30706, National Bureau of Economic Research, Inc.
• Markus Hertrich & Daniel Nathan, 2022. "Foreign Exchange Interventions and their Impact on Expectations: Evidence from the USD/ILS Options Market," Bank of Israel Working Papers 2022.10, Bank of Israel.
• Shuichiro Ikeda & Haruhiko Inatsugu & Yui Kishaba & Takuji Kondo & Kenichi Sakura & Kosuke Takatomi & Takashi Nakazawa & Kotone Yamada, "undated". "Inflation in Japan: Changes during the Pandemic and Issues for the Future," Bank of Japan Working Paper Series 22-E-18, Bank of Japan.
• Yang Zhou & Shigeto Kitano, 2022. "Effectiveness of Capital Controls: Gates versus Walls," Discussion Paper Series DP2022-38, Research Institute for Economics & Business Administration, Kobe University, revised Apr 2023.
• Marianna Riggi & Alex Tagliabracci, 2022. "Price rigidities, input costs, and inflation expectations: understanding firms’ pricing decisions from micro data," Questioni di Economia e Finanza (Occasional Papers) 733, Bank of Italy, Economic Research and International Relations Area.
• Ferrero, Andrea & Habib, Maurizio Michael & Stracca, Livio & Venditti, Fabrizio, 2022. "Leaning against the global financial cycle," Working Paper Series 2763, European Central Bank.
• Andreas Freitag & Sarah M. Lein & Sarah Marit Lein, 2022. "Endogenous Product Adjustment and Exchange Rate Pass-Through," CESifo Working Paper Series 10117, CESifo.
• Tomoko AIZAWA-Tanemura & Shin-Ichi Nishiyama, 2022. "The Effects of Firm and Bank Balance Sheet Conditions to Net Interest Margins: Evidence from Loan-level Firm Survey Data," Discussion Papers 2215, Graduate School of Economics, Kobe University.
• Mark Bergen & Thomas Bergen & Daniel Levy & Rose Semenov, 2022. "3 Lessons from Hyperinflationary Periods," Papers 2212.00640, arXiv.org.
• Eric Schaling & Kgotso Morema, 2022. "Optimalinterestrategapsforflexibleinflationtargeting," Working Papers 11037, South African Reserve Bank.
• Casoli, Chiara & Manera, Matteo & Valenti, Daniele, 2022. "Energy shocks in the Euro area: disentangling the pass-through from oil and gas prices to inflation," FEEM Working Papers 329739, Fondazione Eni Enrico Mattei (FEEM).
• Abiry, Raphael & Ferdinandusse, Marien & Ludwig, Alexander & Nerlich, Carolin, 2022. "Climate change mitigation: How effective is green quantitative easing?," SAFE Working Paper Series 376, Leibniz Institute for Financial Research SAFE.
• Orsetta Causa & Emilia Soldani & Nhung Luu & Chiara Soriolo, 2022. "A cost-of-living squeeze? Distributional implications of rising inflation," OECD Economics Department Working Papers 1744, OECD Publishing.
• Mykola Pinchuk, 2022. "Monetary Uncertainty as a Determinant of the Response of Stock Market to Macroeconomic News," Papers 2212.04525, arXiv.org.
• Pachankis, Yang, 2022. "Shift Balance of Centralized Banking System — Saving Democracy from Populism," MPRA Paper 115606, University Library of Munich, Germany.
• Dimitrios Kanelis & Pierre L. Siklos, 2022. "Emotion in Euro Area Monetary Policy Communication and Bond Yields: The Draghi Era," CQE Working Papers 10322, Center for Quantitative Economics (CQE), University of Muenster.
• Santoro, Sergio & Viviano, Eliana, 2022. "Optimal trend inflation, misallocation and the pass-through of labour costs to prices," Working Paper Series 2761, European Central Bank.
• Jiri Gregor & Jan Janku & Martin Melecky, 2022. "From Central Counter to Local Living: Pass-Through of Monetary Policy to Mortgage Lending Rates in Districts," Working Papers 2022/9, Czech National Bank.
• Emilian Libman & Leonardo Stanley, 2022. "Goodbye Capital Controls, Hello IMF Loans, Welcome Back Financial Repression. Notes on Argentina’s 2018/2019 Currency Crash," Ensayos de Economía 20584, Universidad Nacional de Colombia Sede Medellín.
• Hugh Ding & Natasha Khan & Bena Lands & Cameron MacDonald & Laura Zhao, 2022. "Potential benefits and key risks of fiat-referenced cryptoassets," Staff Analytical Notes 2022-20, Bank of Canada.
• Franz Seitz & Lucas Devigne & Raymond de Pastor, 2022. "Different Motives for Holding Cash in France: an Analysis of the Net Cash Issues of the Banque de France," Working papers 888, Banque de France.
• Jan Ditzen & Francesco Ravazzolo, 2022. "Dominant Drivers of National Inflation," BEMPS - Bozen Economics & Management Paper Series BEMPS97, Faculty of Economics and Management at the Free University of Bozen.
• Alberto Di Iorio & Giorgia Rocco, 2022. "Easier said than done: why Italians pay in cash while preferring cashless," Questioni di Economia e Finanza (Occasional Papers) 731, Bank of Italy, Economic Research and International Relations Area.
• J. Scott Davis & Eric van Wincoop, 2022. "A Theory of Gross and Net Capital Flows over the Global Financial Cycle," NBER Working Papers 30738, National Bureau of Economic Research, Inc.
• Massimo Casa & Marco Carnevali & Silvia Giacinti & Roberto Sabatini, 2022. "PUMA cooperation between the Bank of Italy and the intermediaries for the production of statistical, supervisory and resolution reporting," Questioni di Economia e Finanza (Occasional Papers) 734, Bank of Italy, Economic Research and International Relations Area.
• Lorenzo Gobbi, 2022. "Buy Now Pay Later: market overview and outlook," Questioni di Economia e Finanza (Occasional Papers) 730, Bank of Italy, Economic Research and International Relations Area.
• Sangjae Lee & Jeongeun Park, 2022. "Misdirected Money Transfers in Korea," IADI Fintech Briefs 12, International Association of Deposit Insurers.
• Goldbach, Stefan & Nitsch, Volker, 2022. "Capital Controls Checkup: Cases, Customs, Consequences," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 135405, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
• Masanori Orihara & Yoshiaki Ogura & Yue Cai, 2022. "Borrowing in Unsettled Times and Cash Holdings Afterwards," Working Papers 2207, Waseda University, Faculty of Political Science and Economics.
• Massimo Ferrari Minesso & Maria Sole Pagliari, 2022. "DSGE Nash: solving Nash Games in Macro Models With an application to optimal monetary policy under monopolistic commodity pricing," Working papers 884, Banque de France.
• Massimiliano Marcellino & Dalibor Stevanovic, 2022. "The demand and supply of information about inflation," CIRANO Working Papers 2022s-27, CIRANO.