Zobrazeno 1 - 10
of 15
pro vyhledávání: '"Max Breitenlechner"'
Publikováno v:
Macroeconomic Dynamics. :1-22
Can monetary policy stimulate consumption through inflation expectations? We study how US consumers revise inflation expectations and readiness to spend in response to monetary policy shocks using a structural vector-autoregressive model, where we id
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::8aef442d31c2eca7a0bc907ef617a316
https://doi.org/10.1017/s1365100523000020
https://doi.org/10.1017/s1365100523000020
Publikováno v:
Journal of Monetary Economics. 131:45-60
We quantify spillbacks from US monetary policy based on structural scenario analysis and minimum relative entropy methods applied in a Bayesian proxy structural vector-autoregressive model estimated on data for the time period from 1990 to 2019. We f
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::e2500db53a48ae883e4ad7237b5191ed
https://doi.org/10.1016/j.jmoneco.2022.07.001
https://doi.org/10.1016/j.jmoneco.2022.07.001
Autor:
Max Breitenlechner, Riikka Nuutilainen
Publikováno v:
Open Economies Review.
We study the macroeconomic relevance of credit supply effects in the transmission of Chinese monetary policy. Using combinations of zero and sign restrictions in a structural vector autoregressive framework, we simultaneously identify monetary policy
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::3ed3e03370acc41374412c9aafebaf5f
https://doi.org/10.1007/s11079-022-09705-2
https://doi.org/10.1007/s11079-022-09705-2
Publikováno v:
European Review of Economic History. 26:1-37
At the peak of the Great Depression in mid-1931, Germany experienced a severe banking crisis. We study to what extent credit constraints contributed to the downturn by fitting a structural vector autoregressive model with data from January 1925 to Se
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::d12281656eff7b816c6007fc09c544ac
https://doi.org/10.1093/erehj/heaa023
https://doi.org/10.1093/erehj/heaa023
Publikováno v:
SSRN Electronic Journal.
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::1d2e726bf7d32b4227bff266afbe2a30
https://doi.org/10.2139/ssrn.4017367
https://doi.org/10.2139/ssrn.4017367
Publikováno v:
SSRN Electronic Journal.
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::a26cf84e41fa22d85bb8dd75c30548b9
https://doi.org/10.2139/ssrn.4179100
https://doi.org/10.2139/ssrn.4179100
Private Sector Debt, Financial Constraints, and the Effects of Monetary Policy: Evidence from the US
Autor:
Max Breitenlechner, Johann Scharler
Publikováno v:
Oxford Bulletin of Economics and Statistics. 82:889-915
We characterize the response of U.S. real GDP to monetary policy shocks conditional on the level of private sector debt and the degree to which financial constraints are binding. To incorporate state‐dependent effects of monetary policy, we use the
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::8b0ee4f830d13f651efc0bda5066e6a1
https://doi.org/10.1111/obes.12349
https://doi.org/10.1111/obes.12349
Publikováno v:
Finance Research Letters. 46:102467
Does the banking sector matter for the propagation of uncertainty? We apply local projections to study the dynamic response of U.S. real GDP to exogenous changes in uncertainty conditional on the liquidity of the banking sector. We find that uncertai
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::5b96fff1f625a633c9f686a4189e0b0e
https://doi.org/10.1016/j.frl.2021.102467
https://doi.org/10.1016/j.frl.2021.102467
Autor:
Max Breitenlechner, Johann Scharler
Publikováno v:
Economic Modelling. 102:105559
How do bank loans respond to monetary policy shocks? The bank lending channel holds that banks' refinancing costs are crucial. This paper shows that what ultimately matters are shifts in the supply of funds available to banks. We use a structural VAR
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::d157ef0f7fd8fe7f7f1ba82aa252e48d
https://doi.org/10.1016/j.econmod.2021.105559
https://doi.org/10.1016/j.econmod.2021.105559
Publikováno v:
Journal of Macroeconomics. 67:103283
We study unconventional policy shocks and information shocks associated with central bank announcements in the U.S. While unconventional policy shocks capture the direct influence of announced monetary policy actions, information shocks are associate
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::87864c13f7bc345bc677d90e7cb067c3
https://doi.org/10.1016/j.jmacro.2020.103283
https://doi.org/10.1016/j.jmacro.2020.103283