Macroprudential-Policy

RYUICHIRO IZUMI · YANG LI

Layer 1: Overview Research question and motivation: Asset fire sales were a defining feature of the 2007-08 crisis, and post-crisis reforms (Basel III liquidity requirements, Money Market Mutual Fund …

Barbara Annicchiarico · Marco Carli · Francesca Diluiso

This paper embeds a carbon pricing sector into an extended DSGE model with a financial accelerator (E-DSGE) featuring heterogeneous firms, bank monitoring, and a borrowing-constraint amplification …

Christoph Grosse-Steffen · Laura Pagenhardt · Malte Rieth

A central debate in fiscal policy is whether fiscal rules—numerical constraints on budget deficits or debt levels—impair a government’s ability to respond to adverse economic shocks, creating a …

Kristian S. Blickle · Sarah N. Hamerling · Donald P. Morgan

Using FEMA disaster declarations matched to SHELDUS property-damage estimates and Call Report data for 1995–2018, this paper finds that weather disasters — even at their most severe — have had modest …

Javier Bianchi · Louphou Coulibaly

The paper develops a tractable open-economy New Keynesian model with nominal rigidities and an occasionally binding zero lower bound (ZLB) to study how monetary policy and macroprudential policy …

Hubert János Kiss · Alfonso Rosa García · Lukas Voellmy

Layer 1: Overview This paper uses laboratory experiments to evaluate the effectiveness of two liquidity management tools — redemption fees and redemption gates — in reducing runs on money market funds …

Benjamin L. Collier · Cameron M. Ellis · Benjamin J. Keys

Layer 1: Overview This paper estimates the shadow cost that consumers assign to pledging their primary residence as collateral, using administrative loan application and performance data from the U.S. …