Search Results - "Williamson, Stephen D."

Liquidity, Monetary Policy, and the Financial Crisis: A New Monetarist Approach by Williamson, Stephen D.

“…A model of public and private liquidity integrates financial intermediation theory with a New Monetarist monetary framework. Nonpassive fiscal policy and costs…”
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Scarce collateral, the term premium, and quantitative easing by Williamson, Stephen D.

“…A model of money, credit, and banking is constructed in which the differential pledgeability of collateral and the scarcity of collateralizable wealth lead to…”
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Central bank digital currency and flight to safety by Williamson, Stephen D.

“…A model is developed with a novel approach to analyzing banking panics in general equilibrium. Banks may fail, and bank insolvency potentially drives banking…”
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Interest on reserves, interbank lending, and monetary policy by Williamson, Stephen D.

“…•A two-sector general equilibrium banking model is constructed to study the functioning of a floor system of central bank intervention.•Only retail banks can…”
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Low real interest rates and the zero lower bound by Williamson, Stephen D.

“…How do low real interest rates constrain monetary policy? Is the zero lower bound optimal if the real interest rate is sufficiently low? What is the role of…”
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Can the fiscal authority constrain the central bank? by Williamson, Stephen D.

“…The fiscal theory of the price level (FTPL) suggests, in its extreme form, that the fiscal authority always constrains central bank behavior. A Fisherian model…”
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The Role of Central Banks by WILLIAMSON, STEPHEN D.

“…L’auteur se penche sur les origines des banques centrales en général, parallèlement à celles qui sont propres à la Banque du Canada. Il établit un cadre de…”
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Comments on “The Fiscal Theory of the Price Level in a world with low interest rates,” by M. Bassetto and W. Cui by Williamson, Stephen D.

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Low Real Interest Rates, Collateral Misrepresentation, and Monetary Policy by Williamson, Stephen D.

“…A model is constructed in which households and banks have incentives to fake the quality of collateral. These incentive problems matter when collateral is…”
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"Current Federal Reserve Policy under the Lens of Economic History": A Review Essay by Williamson, Stephen D.

“…This review essay reviews the volume edited by Owen Humpage, Current Federal Reserve Policy under the Lens of Economic History: Essays to Commemorate the…”
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Keynesian Inefficiency and Optimal Policy: A New Monetarist Approach by WILLIAMSON, STEPHEN D.

“…A simple model of monetary/labor search is constructed to study Keynesian indeterminacy and optimal policy. In the model, economic agents have trouble…”
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A Defence of Contemporary Economics: "Zombie Economics" in Review by Williamson, Stephen D.

“…John Quiggin wants what fundamentally all economists want. He would like to make society better off. Of course, economists differ over how that goal should be…”
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Monetary policy and distribution by Williamson, Stephen D.

“…A segmented markets model of monetary policy is constructed, in which a novel feature is goods market segmentation, and its relationship to conventional asset…”
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Currency Elasticity and Banking Panics: Theory and Evidence by Champ, Bruce, Smith, Bruce D., Williamson, Stephen D.

“…Existing models of banking panics contain no role for monetary factors and fail to explain why some banking systems experienced panics while others did not. A…”
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The Balance Sheet and the Future of Fed Policy by Williamson, Stephen D.

“…The size of the Fed’s balance sheet has almost quadrupled since 2007, and the composition of the balance sheet has changed in important ways, with regard to…”
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New Monetarist Economics: Understanding Unconventional Monetary Policy by WILLIAMSON, STEPHEN D.

“…This paper focuses on Federal Reserve policy in the United States after the financial crisis. Two key interventions – QE1 and QE2 – are reviewed, and a model…”
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Transactions, credit, and central banking in a model of segmented markets by Williamson, Stephen D.

“…A segmented markets model is constructed in which transactions are conducted using credit and currency. Goods market segmentation plays an important role, in…”
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Costly Monitoring, Loan Contracts, and Equilibrium Credit Rationing by Williamson, Stephen D.

“…A credit market model with asymmetric information and costly monitoring is constructed. It is shown that this model can exhibit equilibrium credit rationing,…”
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SEARCH, LIMITED PARTICIPATION, AND MONETARY POLICY by Williamson, Stephen D.

“…A model is developed that employs recent developments in the literature on search models of money to capture the distributional effects of monetary policy in a…”
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Deposit insurance, bank regulation, and narrow banking by Williamson, Stephen

“…Narrow banking has surfaced frequently as a proposed framework for dealing with financial instability and inefficiency. Recent proposals include reforms…”
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