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Structural asymmetries and financial imbalances in the Eurozone

Autor: Frank Smets, Ivan Jaccard

Publikováno v: Review of Economic Dynamics. 36:73-102

Many southern European economies experience large capital inflows during periods of expansion that are followed by abrupt capital flow reversals when a recession hits. This paper studies the dynamics of cross-border flows between the North and South

Externí odkaz: https://explore.openaire.eu/search/publication?articleId=doi_dedup___::941690317c72d229301b2094cbffdb30
https://doi.org/10.1016/j.red.2019.08.002

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Effects of State-Dependent Forward Guidance, Large-Scale Asset Purchases and Fiscal Stimulus in a Low-Interest-Rate Environment

Autor: Carlos Montes-Galdón, Frank Smets, Günter Coenen

Publikováno v: SSRN Electronic Journal.

We study the incidence and severity of lower-bound episodes and the efficacy of three types of state-dependent policies — forward guidance about the future path of interest rates, large-scale asset purchases and spending-based fiscal stimulus — i

Externí odkaz: https://explore.openaire.eu/search/publication?articleId=doi_________::a2110eb295442a26f407546383bf94cc
https://doi.org/10.2139/ssrn.3522191

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