Topic Monetary Policy

Analysis of Contemporary Budget Federalism Models Based on Economic and Social Effectiveness of Inter-Budgetary Relations: Theory, Experiences in OECD Countries, and Analysis for Russia

The Multifaceted Impact of US Trade Policy on Financial Markets

We study the multifaceted effects of trade policy shocks on financial markets using a structural vector autoregression identified via event day heteroskedasticity. We find that restrictive US trade policy shocks affect US and international stock prices heterogeneously, but generally negatively. They increase market uncertainty, lower US interest rates, and lead to an appreciation of the US dollar. ...

Monetary Policy with Mispricing in Stock Markets

Foreign Exchange Intervention: A New Database

We construct a novel database of monthly foreign exchange interventions for 49 countries over up to 22 years. We build on a text classification approach that extracts information about interventions from news articles and calibrate our procedure to data about actual interventions. This new dataset allows us to document stylized facts about the use of foreign exchange interventions for countries that ...

Can the ECB affect consumer energy prices?

Modelling US and Euro Area Monetary Policy - An Overidentified Bayesian Proxy VAR approach

The ECB must be an anchor of stability in the euro area now more than ever

Marcel Fratzscher, President of the German Institute for Economic Research (DIW Berlin), comments on the results of today’s meeting of the European Central Bank (ECB):

"Macroprudential Policy and Financial Crises"

The transmission of financial shocks and leverage of financial institutions: An endogenous regime switching framework"

Estimating Nonlinear Heterogeneous Agents Models with Neural Networks