Essays about: "expansionary monetary policy"
Showing result 1 - 5 of 21 essays containing the words expansionary monetary policy.
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1. Decomposing the Consumption Response to Monetary Policy Shocks in Australia
University essay from Handelshögskolan i Stockholm/Institutionen för nationalekonomiAbstract : Does monetary policy affect households differently depending on their position on the income distribution? If so, what drives the differences? This paper attempts to answer these questions by decomposing changes in consumption following a monetary policy shock into several direct and indirect channels of transmission. Although direct channels of transmission are the most important in traditional representative agent models, the indirect channels are dominant when households are heterogeneous. READ MORE
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2. Inflation and Quantitative Tightening - A theoretical assessment of contractionary monetary policy and real economic activity
University essay from Lunds universitet/Nationalekonomiska institutionenAbstract : Following the associated lockdown measures of the Covid-19 pandemic in 2020, the world economy started facing inflationary pressures from a surge in energy prices and supply chain disruptions at the end of 2021. Given the economic environment with low inflation and expansionary monetary policy following the Great Financial Crisis (GFC), central banks around the world have built up large balance sheets following the unconventional measure called Quantitative Easing (QE). READ MORE
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3. Wage Rigidities, Monetary Policy and Inequality: Insights from a three-agent New Keynesian model
University essay from Handelshögskolan i Stockholm/Institutionen för nationalekonomiAbstract : In this thesis, I use a three-agent New Keynesian (THRANK) dynamic stochastic general equilibrium model, which features poor-, wealthy- and non-hand-to-mouth (HtM) households. I augment the model by introducing nominal wage rigidities to account for empirical evidence regarding wages and profits. READ MORE
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4. Zero Rates and Zero Benefits?
University essay from Lunds universitet/Nationalekonomiska institutionenAbstract : Ever since the Great Recession in 2008, the effectiveness of monetary policy has been increasingly debated. Central banks in modern economies were forced to find new ways of conducting expansionary monetary policy beyond conventional methods, most notably through quantitative easing and forward guidance, as they were at, or very close to, the zero lower bound of nominal interest rates. READ MORE
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5. Spillover Effects of Forward Guidance Shocks: How ECB Communication Influences Economic Outcomes in Neighboring Economies
University essay from Handelshögskolan i Stockholm/Institutionen för nationalekonomiAbstract : With policy rates at the zero lower bound, the ECB is increasingly relying on forward guidance to stimulate the economy. In this thesis paper, I show that the ECB's communication has important effects on economic outcomes both inside and outside of the eurozone. READ MORE
