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Content
October 2024, Volume 20, Issue 4
- 1-123 A Medium-Scale DSGE Model for the Integrated Policy Framework
by Tobias Adrian & Vitor Gaspar & Francis Vitek - 125-173 Disinflations and Income Distribution
by Laura Acevedo & Marc Hofstetter - 175-220 Financial Stability Governance and Central Bank Communications
by Juan M. Londono & Stijn Claessens & Ricardo Correa - 221-274 The Economics of Central Bank Digital Currency
by Toni Ahner & Katrin Assenmacher & Peter Hoffmann & Agnese Leonello & Cyril Monnet & Davide Porcellacchia - 275-320 Real-Time Forecasting with a (Standard) Mixed-Frequency VAR During a Pandemic
by Frank Schorfheide & Dongho Song - 321-370 Government Debt and Expectations-Driven Liquidity Traps
by Charles de Beauffort - 371-413 Sterilized Interventions May Not Be So Sterilized
by Shalva Mkhatrishvili & Giorgi Tsutskiridze & Lasha Arevadze - 415-474 Still "Too Much, Too Late": Provisioning for Expected Loan Losses
by Roman Goncharenko & Asad Rauf
July 2024, Volume 20, Issue 3
- 1-61 Identifying Quantitative and Qualitative Monetary Policy Shocks
by Kiyotaka Nakashima & Masahiko Shibamoto & Koji Takahashi - 63-114 Order Matters: An Experimental Study on How Question Ordering Affects Survey-Based Inflation Forecasts
by Maxime Phillot & Rina Rosenblatt-Wisch - 115-159 Cash in the Pocket, Cash in the Cloud: Cash Holdings of Bitcoin Owners
by Daniela Balutel & Christopher S. Henry & Kim P. Huynh & Marcel C. Voia - 161-184 Model Risk at Central Counterparties: Is Skin in the Game a Game Changer?
by Wenqian Huang & Elöd Takáts - 185-255 The Usability of Bank Capital Buffers and Credit Supply Shocks at SMEs during the Pandemic
by Jose M. Berrospide & Arun Gupta & Matthew P. Seay - 257-371 Bank Risk-Taking and Impaired Monetary Policy Transmission
by Philipp J. Koenig & Eva Schliephake - 303-371 Switching from Cash to Cashless Payments during the COVID-19 Pandemic and Beyond
by Tomasz Piotr Wisniewski & Michal Polasik & Radoslaw Kotkowski & Andrea Moro - 373-454 Bank Rollover Risk and Liquidity Supply Regimes
by Eric Jondeau & Benoit Mojon & Jean-Guillaume Sahuc
April 2024, Volume 20, Issue 2
- 1-16 Perspectives on U.S. Monetary Policy and the Return to Price Stability
by Richard H. Clarida - 17-67 A New Supply Bottlenecks Index Based on Newspaper Data
by Pablo Burriel & Iván Kataryniuk & Carlos Moreno Pérez & Francesca Viani - 69-150 The Economic Effects of Global Inflation Uncertainty
by Jongrim Ha & Inhwan So - 151-191 The Macroeconomic Effects of Global Supply Chain Reorientation
by Daragh Clancy & Donal Smith & Vilém Valenta - 193-235 Supply Chain Disruption and Energy Supply Shocks: Impact on Euro-Area Output and Prices
by Roberto A. De Santis - 237-290 Here Comes the Change: The Role of Global and Domestic Factors in Post-Pandemic Inflation in Europe
by Mahir Binici & Samuele Centorrino & Serhan Cevik & Gyowon Gwon - 291-342 Systematic Foreign Exchange Intervention and Macroeconomic Stability: A Bayesian DSGE Approach
by Mitsuru Katagiri - 343-389 Spillover Effects of Sovereign Bond Purchases in the Euro Area
by Yvo Mudde & Anna Samarina & Robert Vermeulen
February 2024, Volume 20, Issue 1
- 1-52 Assessing the Impact of Basel III: Review of Transmission Channels and Insights from Policy Models
by Olivier de Bandt & Bora Durdu & Hibiki Ichiue & Yasin Mimir & Jolan Mohimont & Kalin Nikolov & Sigrid Roehrs & Jean-Guillaume Sahuc & Valerio Scalone & Michael Straughan - 53-92 The Impact of SNB Monetary Policy on the Swiss Franc and Longer-Term Interest Rates
by Fabian Fink & Lukas Frei & Thomas Maag & Tanja Zehnder - 93-157 Demand or Supply? Price Adjustment Heterogeneity during the COVID-19 Pandemic
by Almut Balleer & Sebastian Link & Manuel Menkhoff & Peter Zorn - 159-180 How Wages Respond to the Job-Finding and Job-to-Job Transition Rates: Evidence from New Zealand Administrative Data
by Christopher Ball & Nicolas Groshenny & Ozer Karagedikli & Murat Özbilgin & Finn Robinson - 181-237 Macro and Micro Consumption Drivers in the Wake of the COVID-19 Pandemic
by Elisa Guglielminetti & Concetta Rondinelli - 239-261 Anchored or Not: How Much Information Does 21st Century Data Contain on Inflation Dynamics?
by Michael T. Kiley - 263-323 Researching the Research: A Central Banking Edition
by Simona Malovaná & Martin Hodula & Zuzana Gric - 325-371 Has Higher Household Indebtedness Weakened Monetary Policy Transmission?
by Gaston Gelos & Federico Grinberg & Shujaat Khan & Tommaso Mancini-Griffoli & Machiko Narita & Umang Rawat
December 2023, Volume 19, Issue 5
- 1-47 Demographic Shifts, Macroprudential Policies, and House Prices
by Jieun Lee & Hosung Jung - 49-98 Global and Domestic Financial Cycles: Variations on a Theme
by Iñaki Aldasoro & Stefan Avdjiev & Claudio Borio & Piti Disyatat - 99-144 Unintended Consequences of U.S. Monetary Policy Shocks: Dutch Disease and Capital Flow Measures in Emerging Markets and Developing Economies
by Juan F. Yépez - 145-183 Franchise Value Matters: The Drivers of Bank Risk-Taking in the Post-Basel III Era
by Takuji Kawamoto & Taichi Matsud & Koji Takahashi & Yoichiro Tamanyu - 185-236 Do Macroprudential Policies Affect Non-bank Financial Intermediation?
by Stijn Claessens & Giulio Cornelli & Leonardo Gambacorta & Francesco Manaresi & Yasushi Shiinad - 287-340 Toward a Green Economy: The Role of the Central Bank’s Asset Purchases
by Alessandro Ferrari & Valerio Nispi Landi - 340-402 Operational and Cyber Risks in the Financial Sector
by Iñaki Aldasoro & Leonardo Gambacorta & Paolo Giudici & Thomas Leach - 403-438 Yield Curve Control
by Takahiro Hattori & Jiro Yoshida - 439-492 Assessing the Effectiveness of Currency-Differentiated Tools: The Case of Reserve Requirements
by Annamaria De Crescenzio & Etienne Lepers & Zoe Fannon
December 2023, Volume 19, Issue 4
- 234-286 Credit booms, labor reallocation, and productivity growth
by Enisse Kharroubi & Christian Upper & Fabrizio Zampolli & Claudio Borio
October 2023, Volume 19, Issue 4
- 1-40 Macroprudential Policy and Aggregate Demand
by André Teixeira & Zoë Venter - 41-83 Unanticipated and Backward-Looking: Deflations and the Behavior of Inflation Expectations
by Ryan Banerjee & Aaron Mehrotra - 85-142 Central Clearing and Systemic Liquidity Risk
by Thomas B. King & Travis D. Nesmith & Anna Paulson & Todd Prono - 143-183 Government Assistance and Banks' Funding Cost
by Md Jahir Uddin Palas & Fernando Moreira - 185-214 Rise of the Central Bank Digital Currencies
by Raphael Auer & Giulio Cornelli & Jon Frost - 215-249 Why Are Inflation Forecasts Sticky? Theory and Application to France and Germany
by Frédérique Bec & Raouf Boucekkine & Caroline Jardet - 251-337 Countering Appreciation Pressure with Unconventional Monetary Policy: The Role of Financial Frictions
by Nicole Aregger & Jessica Leutert - 339-399 Funding Behavior of Debt Management Offices and the ECB's Public Sector Purchase Program
by Katharina Plessen-Mátyás & Christoph Kaufmann & Julian von Landesberger - 401-447 Optimal Central Bank Forward Guidance
by Eunmi Ko - 449-522 An Interpretable Machine Learning Workflow with an Application to Economic Forecasting
by Marcus Buckmann & Andreas Joseph
August 2023, Volume 19, Issue 3
- 1-47 Modeling the Asymmetric Effects of an Oil Price Shock
by Lance J Bachmeier & Benjamin D Keen - 49-97 A New Measure of Central Bank Transparency and Implications for the Effectiveness of Monetary Policy
by Miguel Acosta - 99-137 How Do Regulators Set the Countercyclical Capital Buffer?
by Bernhard Herz & Jochen Keller - 139-173 Empirical Evidence on the Effectiveness of Capital Buffer Release
by Vasja Sivec & Matjaz Volk - 175-227 The Cost of Breaking an Exchange Rate Peg:Synthetic Control Estimation
by Jae Hoon Choi & A Christopher Limnios - 229-267 Towards a Macroprudential Framework for Investment Funds: Swing Pricing and Investor Redemptions
by Ulf Lewrick & Jochen Schanz - 269-323 A Pitfall of Cautiousness in Monetary Policy∗
by Stephane Dupraz & Sophie Guilloux-Nefussi & Adrian Penalver - 325-357 Monetary Policy Implementation and Payment System Modernization
by Jonathan Witmer - 359-422 Tracing the Impact of the ECB’s Asset Purchase Program on the Yield Curve
by Fabian Eser & Wolfgang Lemke & Ken Nyholm & Sören Radde & Andreea Liliana Vladu - 423-450 A Comparison of Fed "Tightening" Episodes since the 1980s
by Kevin L Kliesen
June 2023, Volume 19, Issue 2
- 1-93 The Rise in Inequality, the Decline in the Natural Interest Rate, and the Increase in Household Debt
by Ansgar Rannenberg - 95-144 Making Waves: Monetary Policy and Its Asymmetric Transmission in a Globalized World
by Michele Ca’ Zorzi & Luca Dedola & Georgios Georgiadis & Marek Jarocinski & Livio Stracca & Georg Strasser - 145-197 Central Bank Credibility and Monetary Policy
by Kwangyong Park - 199-249 After the Storm: Natural Disasters and Bank Solvency
by Dieter Gramlich & Thomas Walker & Yunfei Zhao & Mohammad Bitar - 251-293 On the Structural Determinants of Growth-at-Risk
by Martin Gächter & Martin Geiger & Elias Hasler - 295-349 Share Buybacks, Monetary Policy and the Cost of Debt
by Assia Elgouacem & Riccardo Zago - 351-388 Macroeconomic Surprises and the Demand for Information about Monetary Policy
by Peter Tillmann - 389-472 Which Monetary Shocks Matter in Small Open Economies? Evidence from Canada
by Jongrim Ha & Inhwan So - 473-542 Shifts in ECB Communication: A Textual Analysis of the Press Conference
by Justyna Klejdysz & Robin L. Lumsdaine - 543-600 Central Banks in Parliaments: A Text Analysis of the Parliamentary Hearings of the Bank of England, the European Central Bank, and the Federal Reserve
by Nicolò Fraccaroli & Alessandro Giovannini & Jean-François Jamet & Eric Persson
March 2023, Volume 19, Issue 1
- 1-54 LSIs’ Exposures to Climate-Change-Related Risks: An Approach to Assess Physical Risks
by Maria Sole Pagliari - 55-110 Transmission of Global Financial Shocks: Which Capital Flows Matter?
by Bada Han - 111-158 International Spillovers of Monetary Policy: Conventional Policy vs. Quantitative Easing
by Stephanie E. Curcuru & Steven B. Kamin & Canlin Li & Marius Rodriguez - 159-242 Targeting Financial Stability: Macroprudential or Monetary Policy?
by David Aikman & Julia Giese & Sujit Kapadia & Michael McLeay - 243-300 Bank Lending and the European Debt Crisis: Evidence from a New Survey
by Andrea Orame - 301-340 The Natural Rate of Interest in a Non-linear DSGE Model
by Yasuo Hirose & Takeki Sunakawa - 341-364 The Euro and Price Convergence in Central and Eastern Europe
by Filip Lurka & Paul Kattuman - 365-416 Monetary Policy and Stock Market Valuation
by Olli-Matti Laine - 417-450 Container Trade and the U.S. Recovery
by Lutz Kilian & Nikos Nomikos & Xiaoqing Zhou - 451-493 Global Confidence, Uncertainty, and Business Cycles
by Jongrim Ha & Inhwan So
December 2022, Volume 18, Issue 5
- 1-31 The Immediate Impact and Persistent Effect of FX Purchases on the Exchange Rate
by Itamar Caspi & Amit Friedman & Sigal Ribon - 1-42 Behind the Scenes of the Beauty Contest—Window Dressing and the G-SIB Framework
by Markus Behn & Giacomo Mangiante & Laura Parisi & Michael Wedow - 1-47 Deciphering the Macroeconomic Effects of Internal Devaluations in a Monetary Union
by Javier Andres & Oscar Arce & Jesus Fernandez-Villaverde & Samuel Hurtado - 1-50 The Impact of Capital Requirements on the Macroeconomy: Lessons from Four Macroeconomic Models of the Euro Area
by Matthieu Darracq Paries & Peter Karadi & Christoffer Kok & Kalin Nikolov - 1-52 Sovereign Debt Holding and Bank Sensitivity toward Market Risk: An Alternative View of the Bank–Sovereign Problem
by Aneta Hryckiewicz & Petra Pawlowski & Piotr Michal Mazur & Marcin Borsukb - 1-53 The Link between Monetary Policy, Stock Prices, and House Prices—Evidence from a Statistical Identification Approach
by Helmut Herwartz & Simone Maxand & Hannes Rohloff - 1-53 Financial Stability Committees and the Basel III Countercyclical Capital Buffer
by Rochelle M. Edge & J. Nellie Liang - 1-58 Deleverage and Defaults in the United Kingdom
by Mario Lupoli
October 2022, Volume 18, Issue 4
- 1-52 Is Inflation Domestic or Global? Evidence from Emerging Markets
by Rudolfs Bems & Francesca Caselli & Francesco Grigoli & Bertrand Gruss - 1-52 What Drives Dollar Funding Stress in Distress?
by Yuewen Tang & Alfred Wong - 1-52 How Has Monetary and Regulatory Policy Affected Trading Relationships in the U.S. Repo Market?
by Sriya Anbil & Zeynep Senyuz - 1-52 What Do Online Listings Tell Us about the Housing Market?
by Michele Loberto & Andrea Luciani & Marco Pangallo - 1-52 Withering Cash: Is Sweden Ahead of the Curve or Just Special?
by Hanna Armelius & Carl Andreas Claussen & André Reslow - 1-52 Macroprudential Policy, Monetary Policy, and Euro Zone Bank Risk
by Elien Meuleman & Rudi Vander Vennet - 1-52 Excess Persistence in Employment of Disadvantaged Workers
by Bruce Fallick & Pawel Krolikowski - 1-52 Monetary Policy, Inflation Target, and the Great Moderation: An Empirical Investigation
by Qazi Haque
September 2022, Volume 18, Issue 3
- 1-45 Optimal Inflation Rates in a Non-linear New Keynesian Model: The Case of Japan and the United States
by Tomohide Mineyama & Wataru Hirata & Kenji Nishizaki - 47-87 Why So Low for So Long? A Long-Term View of Real Interest Rates
by Claudio Borio & Piti Disyatat & Mikael Juselius & Phurichai Rungcharoenkitkul - 89-124 De jure Benchmark Bonds
by Eli Remolona & James Yetman - 125-171 Credit Schocks and Allocative Efficiency during a Financial Crisis
by Andrea Linarello & Andrea Petrella & Enrico Sette - 173-227 Monetary Policy and Regional House-Price Appreciation
by Daniel Cooper & María José Luengo-Prado & Giovanni P. Olivei - 229-280 The Reliability of Equilibrium Exchange Rate Models: A Forecasting Perspective
by Michele Ca' Zorzi & Adam Cap & Andrej Mijakovic & Michal Rubaszek - 281-320 Confidence Cycles and Liquidity Hoarding
by Volha Audzei - 321-397 The Real Effects of Credit Line Drawdowns
by Jose M. Berrospide & Ralf R. Meisenzahl
June 2022, Volume 18, Issue 2
- 1-49 Regulatory Stress Tests and Bank Responses: Heterogeneous Treatment Effect in Dynamic Settings
by Karel Janda & Oleg Kravtsov - 51-105 Exiting from an Exchange Rate Floor in a Small Open Economy: Balance Sheet Implications of the Czech National Bank's Exchange Rate Commitment
by Michal Franta & Tomas Holub & Branislav Saxa - 107-148 ECB Corporate QE and the Loan Supply to Bank-Dependent Firms
by Frank Betz & Roberto A. De Santis - 149-192 Have Inflation Expectations Become Un-anchored? The Role of Oil Prices and Global Aggregate Demand
by Nathan Sussman & Osnat Zohar - 193-243 Some Like it Hot: Assessing Longer-Term Labor Market Benefits from a High-Pressure Economy
by Julie L. Hotchkiss & Robert E. Moore - 245-282 Finding a Role for Slack in Real-Time Inflation Forecasting
by N. Kundan Kishor & Evan F. Koenig - 283-347 The Impact of TARP Capital Infusion on Bank Liquidity Creation: Does Bank Size Matter?
by Chen Zheng & Adrian (Wai Kong) Cheung & Tom Cronje - 349-401 Capital Requirement Reductions, Heterogeneity, and Real Economic Outcomes
by Elif C. Arbatli-Saxegaard & Ragnar E. Juelsrud
March 2022, Volume 18, Issue 1
- 3-39 Does Policy Communication during COVID Work?
by Olivier Coibion & Yuriy Gorodnichenko & Michael Weber - 41-80 Monetary Policy and COVID-19
by Michal Brzoza-Brzezina & Marcin Kolasa & Krzysztof Makarski - 81-130 Central Bank Independence and Systemic Risk
by Alin Marius Andries & Anca Maria Podpiera & Nicu Sprincean - 151-197 Optimal Credit, Monetary, and Fiscal Policy under Occasional Financial Frictions and the Zero Lower Bound
by Shifu Jiang - 199-238 The Role of Expectations in Changed Inflation Dynamics
by Damjan Pfajfar & Damjan Pfajfar - 239-275 Exchange Rate Shocks and Inflation Co-movement in the Euro Area
by Danilo Leiva-Leon & Jaime Martinez-Martin & Eva Ortega - 277-329 Applying Lessons from the Past? Exploring Historical Analogies in ECB Speeches through Text Mining, 1997–2019
by Anselm Küsters - 331-348 Trends in Monetary Policy Transparency: Further Updates
by Nergiz Dincer & Barry Eichengreen & Petra Geraats
December 2021, Volume 17, Issue 71
- 1-31 Ethics, Culture, and Higher Purpose in Banking: Post-Crisis Governance Developments
by Anjan V. Thakor - 1-40 Systemic Bank Risk and Monetary Policy
by Ester Faiaa & Sören Karau - 1-40 Systemic Bank Risk and Monetary Policy
by Ester Faiaa & Sören Karau - 1-41 Monetary Policy and the Top 1%: Evidence from a Century of Modern Economic History
by Mehdi El Herradi & Aurélien Leroy - 1-41 Real-Time Forecasting and Scenario Analysis Using a Large Mixed-Frequency Bayesian VAR
by Michael W. McCracken & Michael T. Owyang & Tatevik Sekhposyan - 1-45 Bank Lending Standards, Loan Demand, and the Macroeconomy: Evidence from the Korean Bank Loan Officer Survey
by Sangyup Choi - 1-47 Monetary Normalizations and Consumer Credit: Evidence from Fed Liftoff and Online Lending
by Christoph Bertsch & Isaiah Hull & Xin Zhang - 1-57 The Power of Forward Guidance and the Fiscal Theory of the Price Level
by Nigel McClung
October 2021, Volume 17, Issue 70
- 1-31 Monetary Policy Transmission via Loan Contract Terms in the United States
by Esteban Argudo - 1-31 Which Credit Gap Is Better at Predicting Financial Crises? A Comparison of Univariate Filters
by Mathias Drehmann & James Yetman - 1-34 The Impact of Regime Change on the Influence of the Central Bank's Inflation Forecasts: Evidence from Japan's Shift to Inflation Targeting
by Masazumi Hattori & Steven Kong & Frank Packer & Toshitaka Sekine - 1-36 The Single Resolution Fund and the Credit Default Swap: What Is the Coasian Fair Price of Their Insurance Services?
by Anna Naszodi - 1-46 Policy Performance and the Behavior of Inflation Expectations
by Eda Gülşen & Hakan Kara - 1-48 Asset Purchase Programs and Financial Markets: Lessons from the Euro Area
by Carlo Altavilla & Giacomo Carboni & Roberto Motto - 1-52 On the Optimal Labor Income Share
by Jakub Growiec & Peter McAdam & Jakub Mućk - 1-62 International Trade Finance and the Cost Channel of Monetary Policy in Open Economies
by Nikhil Patel
September 2021, Volume 17, Issue 3
- 1-60 Inflation News and Euro-Area Inflation Expectations
by Juan Angel García & Sebastian E. V. Werner - 61-94 Monetary Policy Credibility and Exchange Rate Pass-Through
by Yan Carrière-Swallow & Bertrand Gruss & Nicolas E. Magud & Fabián Valencia - 95-153 Fiscal Transfers without Moral Hazard?
by Roel Beetsma & Simone Cima & Jacopo Cimadomo - 155-202 The Determinants of European Banks' Capital Structure: Is There a Difference between Public and Private Banks?
by Vitor Oliveira & Clara Raposo - 203-239 The Effect of the Single Currency on Exports: Comparative Firm-Level Evidence
by Tibor Lalinsky & Jaanika Meriküll - 241-272 Household Wealth and Resilience to Financial Shocks in Italy
by Daniel Garcia-Macia - 271-336 Rethinking Capital Regulation: The Case for a Dividend Prudential Target
by Manuel A. Muñoz - 337-383 Unconventional Monetary Policy Shocks in the Euro Area and the Sovereign-Bank Nexus
by Nikolay Hristov & Oliver Hülsewig & Johann Scharler
June 2021, Volume 17, Issue 2
- 1-42 Broadening Narrow Money: Monetary Policy with a Central Bank Digital Currency
by Jack Meaning & Ben Dyson & James Barker & Emily Clayton - 43-80 Population Aging and the Macroeconomy
by Noëmie Lisack & Rana Sajedi & Gregory Thwaites - 81-123 Central Bank Communication and Disagreement about the Natural Rate Hypothesis
by Carola Conces Binder - 125-169 What Does "Below, but Close to, 2 Percent" Mean? Assessing the ECB's Reaction Function with Real-Time Data
by Maritta Paloviita & Markus Haavio & Pirkka Jalasjoki & Juha Kilponen - 171-206 Deposit Insurance and Banks' Deposit Rates: Evidence from the 2009 EU Policy
by Matteo Gatti & Tommaso Oliviero - 207-253 "Unconventional" Monetary Policy as Conventional Monetary Policy: A Perspective from the United States in the 1920s
by Mark Carlson & Burcu Duygan-Bump - 255-296 Policy and Macro Signals from Central Bank Announcements
by Paul Hubert & Becky Maule - 297-338 Optimal Monetary Policy in Small Open Economies: Producer-Currency Pricing
by Mikhail Dmitriev & Jonathan Hoddenbagh
March 2021, Volume 17, Issue 1
- 3-34 Alternative Models of Interest Rate Pass-Through in Normal and Negative Territory
by Mauricio Ulate - 35-65 The Rise of Fintech Lending to Small Businesses: Businesses' Perspectives on Borrowing
by Brett Barkley & Mark Schweitzer - 67-106 Monetary Policy with Negative Interest Rates: De-linking Cash from Digital Money
by Katrin Assenmacher & Signe Krogstrup - 107-141 Modeling the Consumption Response to the CARES Act
by Christopher D. Carroll & Edmund Crawley & Jiri Slacalek & Matthew N. White - 143-190 The First Line of Defense: The Discount Window during the Early Stages of the Financial Crisis
by Elizabeth Klee - 191-230 International Inflation Spillovers: The Role of Different Shocks
by Gregor Bäurle & Matthias Gubler & Diego R. Känzig - 231-283 Always Look on the Bright Side? Central Counterparties and Interbank Markets during the Financial Crisis
by Massimiliano Affinito & Matteo Piazza - 285-330 Pension Funds' Herding
by Dirk W.G.A. Broeders & Damiaan H.J. Chen & Peter A. Minderhoud & C.J. Willem Schudel
December 2020, Volume 16, Issue 6
- 1-37 Trust in the Central Bank and Inflation Expectations
by Dimitris Christelis & Dimitris Georgarakos & Tullio Jappelli & Maarten van Rooij - 39-95 What Rule for the Federal Reserve? Forecast Targeting
by Lars E.O. Svensson - 97-136 The Aggregate and Country-Specific Effectiveness of ECB Policy: Evidence from an External Instruments VAR Approach
by Lucas Hafemann & Peter Tillmann - 137-184 Contagion in the CoCos Market? A Case Study of Two Stress Events
by Pierluigi Bologna & Arianna Miglietta & Anatoli Segura - 185-232 Risk Shocks and Monetary Policy in the New Normal
by Martin Seneca - 233-286 Independent Central Banks: Low Inflation at No Cost? A Model with Fiscal Policy
by Montserrat Ferré & Carolina Manzano - 287-329 Residential Investment and Economic Activity: Evidence from the Past Five Decades
by Emanuel Kohlscheen & Aaron Mehrotra & Dubravko Mihaljek - 331-393 Monetary Policy as an Optimum Currency Area Criterion
by Dominik Groll
October 2020, Volume 16, Issue 5
- 1-47 The Effects of Borrower-Based Macroprudential Policy: An Empirical Application to Korea
by Thorsten Franz - 49-94 To Guide or Not to Guide? Quantitative Monetary Policy Tools and Macroeconomic Dynamics in China
by Hongyi Chen & Michael Funke & Ivan Lozev & Andrew Tsang - 95-142 The Impact of the Designation of Global Systemically Important Banks on Their Business Model
by Aurélien Violon & Dominique Durant & Oana Toader - 143-178 Measuring the Liquidity Profile of Mutual Funds
by Sirio Aramonte & Chiara Scotti & Ilknur Zer - 179-218 How Do Central Bank Projections and Forward Guidance Influence Private-Sector Forecasts?
by Monica Jain & Christopher S. Sutherland - 219-267 Credit Risk, Liquidity, and Lies
by Thomas B. King & Kurt F. Lewis - 269-308 How Would U.S. Banks Fare in a Negative Interest Rate Environment?
by David M. Arseneau - 309-347 Anchoring Inflation Expectations in Unconventional Times: Micro Evidence for the Euro Area
by Jonas Dovern & Geoff Kenny
September 2020, Volume 16, Issue 4
- 1-46 Aggregation Level in Stress-Testing Models
by Galina Hale & John Krainer & Erin McCarthy - 47-99 The Information Content and Statistical Properties of Diffusion Indexes
by Santiago Pinto & Pierre-Daniel Sarte & Robert Sharp - 101-144 Bank Standalone Credit Ratings
by Michael R. King & Steven Ongena & Nikola Tarashev - 145-197 Narrow Banking with Modern Depository Institutions: Is There a Reason to Panic?
by Hugo Rodríguez Mendizábal - 199-250 The Limits of Central Bank forward Guidance under Learning
by Stephen J. Cole - 251-292 Regulating the Doom Loop
by Spyros Alogoskoufis & Sam Langfield - 293-325 Systemic risk and the Fallacy of Composition: Empirical Evidence from Japanese Regional Bank
by Naohisa Hirakata & Yosuke Kido & Jie Liang Thum - 327-378 Finite Horizons and the Monetary/Fiscal Policy Mix
by Kostas Mavromatis
June 2020, Volume 16, Issue 3
- 1-50 Agglomeration and Industry Spillover Effects in the Aftermath of a Credit Shock
by José Jorge & Joana Rocha - 51-94 Positive Trend Inflation and Determinacy in a Medium-Sized New Keynesian Model
by Jonas E. Arias & Guido Ascari & Nicola Branzoli & Efrem Castelnuovo - 95-139 Real Term Structure and New Keynesian Models
by Burçin Kısacıkoğlu - 141-179 Credit, Financial Conditions, and Monetary Policy Transmission
by David Aikman & Andreas Lehnert & Nellie Liang & Michele Modungno - 181-209 What Can the Data Tell Us about the Equilibrium Real Interest Rate?
by Michael T. Kiley - 211-238 Reserves for All? Central Bank Digital Currency, Deposits, and Their (Non)-Equivalence
by Dirk Niepelt - 239-277 The Surprising Recovery of Currency Usage
by Jonathan Ashworth & Charles A.E. Goodhart - 279-316 From Window Guidance to Interbank Rates: Tracing the Transition of Monetary Policy in Japan and China
by Stefan Angrick & Naoyuki Yoshino
March 2020, Volume 16, Issue 2
- 3-43 Oil Prices and Consumption across Countries and U.S. States
by Andrea De Michelis & Thiago Ferreira & Matteo Iacoviello - 45-79 Monetary Policy, Commodity Prices, and Misdiagnosis Risk
by Andrew J. Filardo & Marco J. Lombardi & Carlos Montoro & Massimo Minesso Ferrari - 81-123 The Continuing Validity of Monetary Policy Autonomy under Floating Exchange Rates
by Edward Nelson - 125-152 Output Gaps and Robust Monetary Policy Rules
by Roberto M. Billi - 153-201 Does Central Bank Transparency and Communication Affect Financial and Macroeconomic Forecasts?
by Thomas Lustenberger & Enzo Rossi