Zobrazeno 1 - 10 of 25 pro vyhledávání: '"Gaetano Gaballo"'
2
Breaking the spell with credit-easing: Self-confirming credit crises in competitive search economies
Autor: Gaetano Gaballo, Ramon Marimon
Publikováno v: Journal of Monetary Economics. 119:1-20
In self-confirming crises lenders charge high interest rates wrongly believing that lower rates would generate losses. In a directed-search economy, misperceptions can persist because there is no equilibrium evidence that can confute it, preventing c
Externí odkaz: https://explore.openaire.eu/search/publication?articleId=doi_________::40731123164e8b0ff9dc75234d62c4bd
https://doi.org/10.1016/j.jmoneco.2021.01.007
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3
Learning from House Prices: Amplification and Business Fluctuations
Autor: Gaetano Gaballo, Ryan Chahrour
Publikováno v: The Review of Economic Studies. 88:1720-1759
We formalize the idea that house price changes may drive rational waves of optimism and pessimism in the economy. In our model, a house price increase caused by aggregate disturbances may be misinterpreted as a sign of higher local permanent income,
Externí odkaz: https://explore.openaire.eu/search/publication?articleId=doi_________::8de898c7897b9884a95b1cc1dfe58446
https://doi.org/10.1093/restud/rdaa079
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4
Can more public information raise uncertainty? The international evidence on forward guidance
Autor: Georg Strasser, Peter Hoffmann, Gaetano Gaballo, Michael Ehrmann
Publikováno v: Journal of Monetary Economics. 108:93-112
Central banks have used different types of forward guidance. This paper reports cross-country evidence showing that, in general, forward guidance mutes the response of government bond yields to macroeconomic news. However, calendar-based guidance wit
Externí odkaz: https://explore.openaire.eu/search/publication?articleId=doi_________::125a10b67eb29cbb30e3e4f20a70fcfe
https://doi.org/10.1016/j.jmoneco.2019.08.012
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5
The Two Faces of Information
Autor: Guillermo Ordoñez, Gaetano Gaballo
In absence of insurance contracts to share risk, public information is a double-edged sword. On the one hand, it empowers self-insurance as agents better react to shocks, reducing risk. On the other hand, it weakens market-insurance as common knowled
Externí odkaz: https://explore.openaire.eu/search/publication?articleId=doi_________::2c96b0ace01f16fc8d8eef0f9e5eec07
https://doi.org/10.3386/w28489
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8
Bailouts, moral hazard and banks׳ home bias for Sovereign debt
Autor: Ariel Zetlin-Jones, Gaetano Gaballo
Publikováno v: Journal of Monetary Economics. 81:70-85
We show that an increase in banks׳ holdings of domestic Sovereign debt decreases the ability of domestic Sovereigns to successfully enact bailouts. When Sovereigns finance bailouts with newly issued debt and the price of Sovereign debt is sensitive
Externí odkaz: https://explore.openaire.eu/search/publication?articleId=doi_________::b710591abd956615870a7e9e41f38ffa
https://doi.org/10.1016/j.jmoneco.2016.04.002
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10
Communication of Monetary Policy in Unconventional Times
Autor: Peter Hoffmann, Eric Persson, Günter Coenen, Gaetano Gaballo, Anton Nakov, Stefano Nardelli, Georg Strasser, Michael Ehrmann
Publikováno v: SSRN Electronic Journal.
Monetary policy communication is particularly important during unconventional times, because high uncertainty about the economy, the introduction of new policy tools and possible limits to the central bank’s toolkit could hamper the predictability
Externí odkaz: https://explore.openaire.eu/search/publication?articleId=doi_________::31391488c17080b9796e462cc82bde09
https://doi.org/10.2139/ssrn.3043098
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