436 results, from 1

Essays in Macroeconomics

This dissertation consists of three essays that investigate the effects and transmission mechanisms of monetary policy to the macroeconomy, and the role of financial frictions in modeling the business cycle. The first essay focuses on the question of how to include financial sector dynamics into macroeconomic models in order to improve their efficacy for macroeconomic policy analysis. We augment a ...

Berlin: Freie Univ. Berlin, FB Wirtschaftswiss., 2020, XXVIII, 167, XL S. | Martin Ignacio Harding Affeld
Diskussionspapiere 1906 / 2020

Exchange Rates and the Information Channel of Monetary Policy

We disentangle the effects of monetary policy announcements on real economic variables into an interest rate shock component and a central bank information shock component. We identify both components using changes in interest rate futures and in exchange rates around monetary policy announcements. While the volatility of interest rate surprises declines around the Great Recession, the volatility of ...

2020| Oliver Holtemöller, Alexander Kriwoluzky, Boreum Kwak
Diskussionspapiere 1854 / 2020

The Dynamic Impact of FX Interventions on Financial Markets

Evidence on the effectiveness of FX interventions is either limited to short horizons or hampered by debatable identification. We address these limitations by identifying a structural vector autoregressive model for the daily frequency with an external instrument. Generally, we find, for freely floating currencies, that FX intervention shocks significantly affect exchange rates and that this impact ...

2020| Lukas Menkhoff, Malte Rieth, Tobias Stöhr

Public or Private? The Future of Money: In-Depth Analysis

Stablecoins issued by large tech companies pose a significant challenge for traditional fiat money. In this study, we highlight the importance of a public-private-cooperation in dealing with this topic, where central banks closely work with stablecoin issuers in issuing synthetic central bank digital currency (sCBDC). This framework minimizes the risks of private money and utilises the technological ...

Bruxelles: European Parliament, 2019, 23 S.
(Monetary Dialogue Papers)
| Chi Hyun Kim, Alexander Kriwoluzky
Seminar of Macro Department

On the cyclicity of the income distribution

25.11.2020| Sandra Pasch, Geraldine Dany-Knedlik
Seminar of Macro Department

Crowding of international mutual funds

11.11.2020| Justus Inhoffen
Seminar of Macro Department

Fatal austerity: the economic consequences of Heinrich Brüning

20.01.2021| Stephanie Ettmeier
Seminar of Macro Department

Firm heterogeneity and capital markets

11.05.2021| Tobias König
Seminar of Macro Department

Scarcity and Reuse of Collateral in the European Repo Market

27.04.2021| Justus Inhoffen
436 results, from 1