Money Pdf 54908 | Ecwp2239~eb47cf93cen

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File: Money Pdf 54908 | Ecwp2239~eb47cf93cen

working paper series fiorella de fiore marie hoerova harald uhlig money markets collateral and monetary policy no 2239 february 2019 disclaimer this paper should not be reported as representing the ...

Filetype PDF | Posted on 21 Aug 2022 | 4 years ago

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...Working paper series fiorella de fiore marie hoerova harald uhlig money markets collateral and monetary policy no february disclaimer this should not be reported as representing the views of european central bank ecb expressed are those authors do necessarily reflect abstract interbank have been subject to substantial impairments in recent decade such a decline unsecured lending increases haircuts on posted seeks understand implications these developments for broader economy that end we develop novel general equilibrium model featuring heterogeneous banks both secured credit features number occasionally bind ing constraints interactions between particular leverage liquidity key determining macroeconomic outcomes nd market frictions force either divert resources into unproductive but liquid assets or lever which leads less output if constraint is very tight may turn slack case there large declines show how policies increase size balance sheet can attenuate jel classification g e keyword...

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Posted on: 21 Aug 2022 | 4 years ago
Tag: download pdf, ecwp2239, eb47cf93cen,
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