Search Results - "Journal of monetary economics"

Measuring euro area monetary policy by Altavilla, Carlo, Brugnolini, Luca, Gürkaynak, Refet S., Motto, Roberto, Ragusa, Giuseppe

“…•We map ECB policy communication into yield curve configurations using factor analysis.•Target, forward guidance and QE factors are estimated to influence the…”
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Price manipulation in the Bitcoin ecosystem by Gandal, Neil, Hamrick, JT, Moore, Tyler, Oberman, Tali

“…•Suspicious trades on a Bitcoin currency exchange are linked to rises in the exchange rate.•A single actor likely drove the USD/BTC exchange rate from $150 to…”
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Designing central bank digital currencies by Agur, Itai, Ari, Anil, Dell’Ariccia, Giovanni

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Uncertainty shocks are aggregate demand shocks by Leduc, Sylvain, Liu, Zheng

“…Search frictions in the labor market give rise to a new option-value channel through which uncertainty affects aggregate economic activity, and the effects of…”
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On the equivalence of private and public money by Brunnermeier, Markus K., Niepelt, Dirk

“…•A generic model of money and liquidity with liquidity bubbles and seignorage rents.•Conditions for the equivalence of public and private money.•Applications…”
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Capital flows and the risk-taking channel of monetary policy by Bruno, Valentina, Shin, Hyun Song

“…Adjustments in bank leverage act as the linchpin in the monetary transmission mechanism that works through fluctuations in risk-taking. In the international…”
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Global spillover effects of US uncertainty by Bhattarai, Saroj, Chatterjee, Arpita, Park, Woong Yong

“…•Study effects of US uncertainty shock on 15 emerging market economies (EMEs).•US uncertainty shock decreases EME asset prices and raises EME country…”
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The economic effects of trade policy uncertainty by Caldara, Dario, Iacoviello, Matteo, Molligo, Patrick, Prestipino, Andrea, Raffo, Andrea

“…•New measures of trade policy uncertainty are constructed using firm-level and aggregate data.•Trade policy uncertainty reduced U.S. investment by about 1.5%…”
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Measuring the effects of federal reserve forward guidance and asset purchases on financial markets by Swanson, Eric T.

“…•The fed funds rate, forward guidance, and LSAP components of FOMC announcements are identified.•Components for each FOMC announcement from July 1991 to June…”
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Monetary policy uncertainty by Husted, Lucas, Rogers, John, Sun, Bo

“…•We construct a new index of uncertainty that the public perceives about Federal Reserve monetary policy actions and consequences, an MPU index, that usefully…”
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Financial fragility in the COVID-19 crisis: The case of investment funds in corporate bond markets by Falato, Antonio, Goldstein, Itay, Hortaçsu, Ali

“…•Following the financial crisis of 2008, corporate bond funds became prominent market players and generated concerns of financial fragility.•Using daily…”
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Oil price elasticities and oil price fluctuations by Caldara, Dario, Cavallo, Michele, Iacoviello, Matteo

“…•New estimates of oil demand and oil supply elasticities are provided.•Elasticities combine narrative oil shocks with country-level IV regres- sions.•Supply…”
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Risk, uncertainty and monetary policy by Bekaert, Geert, Hoerova, Marie, Lo Duca, Marco

“…The VIX, the stock market option-based implied volatility, strongly co-moves with measures of the monetary policy stance. When decomposing the VIX into two…”
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Commodity-price comovement and global economic activity by Alquist, Ron, Bhattarai, Saroj, Coibion, Olivier

“…•We develop a model of commodity prices and the global economy that yields a factor structure for commodity prices.•The model yields identification conditions…”
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Collateral constraints and macroeconomic asymmetries by Guerrieri, Luca, Iacoviello, Matteo

“…•We estimate a DSGE model with occasionally binding housing collateral constraints.•Collateral constraints became slack during the housing boom.•The housing…”
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Some simple bitcoin economics by Schilling, Linda, Uhlig, Harald

“…•We provide a model of an endowment economy with two competing, but intrinsically worthless currencies (Dollar, Bitcoin) serving as medium of exchange.•We show…”
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Central bank digital currency in an open economy by Ferrari Minesso, Massimo, Mehl, Arnaud, Stracca, Livio

“…•We examine the open-economy implications of the introduction of a central bank digital currency (CBDC).•We analyze the international transmission of standard…”
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Uncertainty shocks and unemployment dynamics in U.S. recessions by Caggiano, Giovanni, Castelnuovo, Efrem, Groshenny, Nicolas

“…What are the effects of uncertainty shocks on unemployment dynamics? We answer this question by estimating non-linear (Smooth-Transition) VARs with post-WWII…”
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Innovation, automation, and inequality: Policy challenges in the race against the machine by Prettner, Klaus, Strulik, Holger

“…•Automation raises education, growth, and inequality, and reduces the labor share.•Low-skilled workers lose the race against the machine.•Redistribution by…”
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Institutional integration and economic growth in Europe by Campos, Nauro F., Coricelli, Fabrizio, Moretti, Luigi

“…•It is argued that literature on growth benefits from EU integration is inconclusive.•The Synthetic control method is employed to offer more robust and precise…”
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