Add to ORKGThis paper gives money a role in providing cheap collateral in a model of banking; besides the Taylor Rule, monetary policy can affect the risk-premium on bank lending to firms by varying the supply of M0, so at the zero bound monetary policy is effective; fiscal policy crowds out investment via the risk-premium. A rule for making M0 respond to credit conditions can enhance the economy’s stability. Both price-level and nominal GDP targeting rules for interest rates combined with this stabilise the economy further. With these rules for monetary control, aggressive and distortionary regulation of banks’ balance sheets becomes redundant
I develop a model where banks play a central role in monetary policy transmission. By credibly commi...
At the zero lower bound, the scale and scope of non-conventional monetary policies have become the k...
This paper studies a model of the interest-rate channel of monetary policy in which a low policy rat...
This paper gives money a role in providing cheap collateral in a model of banking; besides the Taylo...
In a model of banking we give money a role in providing cheap collateral; i.e. besides the Taylor Ru...
This paper studies the impact of unconventional monetary policy on the economy and its interactions...
We study optimal monetary policy in a New Keynesian model at the zero bound interest rate where hous...
NOTICE: this is the author’s version of a work that was accepted for publication in Journal of Econo...
We build a dynamic model with currency, demand deposits and bank reserves. The monetary base is cont...
We study optimal monetary policy in the presence of financial stability concerns. We build a model i...
Expansionary monetary and fiscal policies followed the 2008 great recession. The Federal Reserve, an...
Cochrane (2014) shows that high-powered money balances and short-term government bonds can be consid...
Using a New-Keynesian model extended to include credit, money and reserve markets, we examine the dy...
We study monetary optimal policy in a New Keynesian model at the zero bound interest rate where hous...
This paper analyzes optimal monetary policy regarding asset markets in a model where money and savin...
I develop a model where banks play a central role in monetary policy transmission. By credibly commi...
At the zero lower bound, the scale and scope of non-conventional monetary policies have become the k...
This paper studies a model of the interest-rate channel of monetary policy in which a low policy rat...
This paper gives money a role in providing cheap collateral in a model of banking; besides the Taylo...
In a model of banking we give money a role in providing cheap collateral; i.e. besides the Taylor Ru...
This paper studies the impact of unconventional monetary policy on the economy and its interactions...
We study optimal monetary policy in a New Keynesian model at the zero bound interest rate where hous...
NOTICE: this is the author’s version of a work that was accepted for publication in Journal of Econo...
We build a dynamic model with currency, demand deposits and bank reserves. The monetary base is cont...
We study optimal monetary policy in the presence of financial stability concerns. We build a model i...
Expansionary monetary and fiscal policies followed the 2008 great recession. The Federal Reserve, an...
Cochrane (2014) shows that high-powered money balances and short-term government bonds can be consid...
Using a New-Keynesian model extended to include credit, money and reserve markets, we examine the dy...
We study monetary optimal policy in a New Keynesian model at the zero bound interest rate where hous...
This paper analyzes optimal monetary policy regarding asset markets in a model where money and savin...
I develop a model where banks play a central role in monetary policy transmission. By credibly commi...
At the zero lower bound, the scale and scope of non-conventional monetary policies have become the k...
This paper studies a model of the interest-rate channel of monetary policy in which a low policy rat...