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The Possible Unemployment Cost of Average Inflation Below a Credible Target. ...
These are the replication files for Oraby (JCRE, 2022). The paper aims to replicate Svensson (American Economic Journal: Macroeconomics, 2015). Abstract: This paper replicates... -
COVID-19 and Financial Markets: A Panel Analysis for European Countries (data)
The data set presented here provides granular data on monetary, fiscal and European policy responses to the first wave of the Covid-crisis for a large set of 29 European... -
Shadow Banks and the Risk-Taking Channel of Monetary Policy Transmission in t...
We provide evidence for a risk-taking channel of monetary policy transmission in the euro area that works through an increase in shadow banks' total asset growth and their risk... -
Country-Specific Euro Area Government Bond Yield Reactions to ECB's Non-Stand...
This paper employs event study methods to evaluate the effects of ECB's non-standard monetary policy program announcements on 10-year government bond yields of 11 euro area... -
In search of an appropriate lower bound. The zero lower bound vs. the positiv...
Using a standard New Keynesian model, we show that moderate side effects of zero lower bound (ZLB) policy suffice for positive lower bound (PLB) policy to pay off in terms of...
