IDEAS home Printed from https://ideas.repec.org/e/c/pzi103.html

Tom Zimmermann

Not to be confused with: Thomas A. Zimmermann

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Working papers

  1. Markus K. Brunnermeier & Sergio Correia & Stephan Luck & Emil Verner & Tom Zimmermann, 2024. "The Debt-Inflation Channel of the German (Hyper-)Inflation," Papers 2405.13296, arXiv.org.

    Cited by:

    1. Francesco Ferrante & Andrea Prestipino & Immo Schott, 2025. "Corporate Debt Maturity and Business Cycle Fluctuations," International Finance Discussion Papers 1409, Board of Governors of the Federal Reserve System (U.S.).
    2. Schnorpfeil, Philip & Weber, Michael & Hackethal, Andreas, 2024. "Households' response to the wealth effects of inflation," Working Paper Series 2904, European Central Bank.
    3. Albertazzi, Ugo & Hooft, James ’t & Ter Steege, Lucas, 2025. "The causal effect of inflation on financial stability, evidence from history," Working Paper Series 3108, European Central Bank.
    4. Berger, Allen N. & Bouwman, Christa H.S. & Norden, Lars & Roman, Raluca A. & Udell, Gregory F. & Wang, Teng, 2025. "Is a friend in need a friend indeed? How relationship borrowers fare during the COVID-19 crisis," Journal of Financial Intermediation, Elsevier, vol. 63(C).
    5. Xu, Zhihao, 2026. "Soaring in rationality: Bonds as a partial hedge against hyperinflation," Explorations in Economic History, Elsevier, vol. 99(C).
    6. Islam, Md Jaber Al & Moreira, Fernando & Douch, Mustapha, 2025. "Does banks’ environmental engagement impact funding costs?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 103(C).

  2. Ivan T. Ivanov & Tom Zimmermann & Nathan Heinrich, 2022. "Limits of Disclosure Regulation in the Municipal Bond Market," ECONtribute Discussion Papers Series 186, University of Bonn and University of Cologne, Germany.

    Cited by:

    1. Ivan T. Ivanov & Tom Zimmermann, 2023. "The “Privatization” of Municipal Debt," Working Paper Series WP 2023-30, Federal Reserve Bank of Chicago.

  3. Saskia Opitz & Dirk Sliwka & Timo Vogelsang & Tom Zimmermann, 2022. "The Targeted Assignment of Incentive Schemes," ECONtribute Discussion Papers Series 187, University of Bonn and University of Cologne, Germany.

    Cited by:

    1. Groß, Mona & Hennig-Schmidt, Heike & Wiesen, Daniel, 2023. "Personality and physician performance pay: Evidence from a behavioral experiment in health," HERO Online Working Paper Series 2023:5, University of Oslo, Health Economics Research Programme.

  4. Ivan T. & Tom Zimmermann, 2021. "The "Privatization" of Municipal Debt," ECONtribute Discussion Papers Series 062, University of Bonn and University of Cologne, Germany.

    Cited by:

    1. Ivan T. Ivanov & Tom Zimmermann & Nathan Heinrich, 2022. "Limits of Disclosure Regulation in the Municipal Bond Market," ECONtribute Discussion Papers Series 186, University of Bonn and University of Cologne, Germany.
    2. Adhikari, Saroj & Joshi, Omkar & Sorice, Michael G. & Fuhlendorf, Samuel D., 2023. "Factors affecting the adoption of patch-burn grazing in the southern Great Plains in the US," Land Use Policy, Elsevier, vol. 125(C).

  5. Andrew Y. Chen & Tom Zimmermann, 2021. "Open Source Cross-Sectional Asset Pricing," Finance and Economics Discussion Series 2021-037, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Cheung, Ying Lun, 2024. "Avoiding jumps in the rotation matrix of time-varying factor models," Finance Research Letters, Elsevier, vol. 67(PB).
    2. Andrew Y. Chen & Ivo Welch, 2026. "What Useful Alphas?," Papers 2607.06502, arXiv.org.
    3. Ma, Jiantao & Zhang, Yuanyi, 2025. "Option price asymmetry, speculation and stock short-sale cost," Journal of Banking & Finance, Elsevier, vol. 180(C).
    4. Saketh Aleti & Tim Bollerslev & Mathias Siggaard, 2025. "Intraday Market Return Predictability Culled from the Factor Zoo," Management Science, INFORMS, vol. 71(9), pages 7731-7751, September.
    5. Budras, Oliver & Dierkes, Maik & Schroen, Sebastian, 2026. "Text-implied uncertainty in 10-K filings: Do investors get the message?," The Quarterly Review of Economics and Finance, Elsevier, vol. 106(C).
    6. Terence Lim & Kumar Muthuraman & Michael Sury, 2026. "QRAFTI: An Agentic Framework for Empirical Research in Quantitative Finance," Papers 2604.18500, arXiv.org.
    7. Evaluator 1, 2024. "Evaluation 1 of "Biodiversity Risk"," The Unjournal Evaluations 2024-151, The Unjournal.
    8. Vitor Azevedo & Georg Sebastian Kaiser & Sebastian Mueller, 2023. "Stock market anomalies and machine learning across the globe," Journal of Asset Management, Palgrave Macmillan, vol. 24(5), pages 419-441, September.
    9. Chen, Andrew Y. & McCoy, Jack, 2024. "Missing values handling for machine learning portfolios," Journal of Financial Economics, Elsevier, vol. 155(C).
    10. Kumar, Rajnish & Lawrence, Edward R. & Prakash, Arun & Rodríguez, Iván M., 2023. "Additions to and deletions from the S&P 500 index: A resolution to the asymmetric price response puzzle," Journal of Banking & Finance, Elsevier, vol. 154(C).
    11. Shunyao Wang & Ming Cheng & Christina Dan Wang, 2025. "NewsNet-SDF: Stochastic Discount Factor Estimation with Pretrained Language Model News Embeddings via Adversarial Networks," Papers 2505.06864, arXiv.org.
    12. Simon, Frederik & Weibels, Sebastian & Zimmermann, Tom, 2025. "Deep parametric portfolio policies," CFR Working Papers 23-01, University of Cologne, Centre for Financial Research (CFR), revised 2025.
    13. Lin, Jianhao & Fan, Jiacheng & Zhang, Yifan, 2025. "Information Dissemination and the Monetary Policy Uncertainty Premium: Evidence from China," Journal of Banking & Finance, Elsevier, vol. 171(C).
    14. Goyal, Amit & Reed, Adam V. & Smajlbegovic, Esad & Soebhag, Amar, 2025. "Stealthy shorts: Informed liquidity supply," Journal of Financial Economics, Elsevier, vol. 172(C).
    15. Francisco Peñaranda & Enrique Sentana, 2024. "Portfolio management with big data," Working Papers wp2024_2411, CEMFI.
    16. Jianqing Fan & Weining Wang & Yue Zhao, 2024. "Conditional nonparametric variable screening by neural factor regression," Papers 2408.10825, arXiv.org.
    17. Chen, Zilin & Da, Zhi & Huang, Dashan & Wang, Liyao, 2023. "Presidential economic approval rating and the cross-section of stock returns," Journal of Financial Economics, Elsevier, vol. 147(1), pages 106-131.
    18. Yong Hyuck Kim, 2026. "Are anomalies artefacts of sample composition?," Journal of Asset Management, Palgrave Macmillan, vol. 27(3), pages 1-19, September.
    19. Harvey, Campbell R. & Liu, Yan, 2021. "Lucky factors," Journal of Financial Economics, Elsevier, vol. 141(2), pages 413-435.
    20. Alexander Dickerson & Cesare Robotti & Giulio Rossetti, 2026. "The Corporate Bond Factor Replication Crisis," Papers 2604.07880, arXiv.org.
    21. Andrew Y. Chen, 2022. "Most claimed statistical findings in cross-sectional return predictability are likely true," Papers 2206.15365, arXiv.org, revised Nov 2025.
    22. Vitor Azevedo & Christopher Hoegner, 2023. "Enhancing stock market anomalies with machine learning," Review of Quantitative Finance and Accounting, Springer, vol. 60(1), pages 195-230, January.
    23. Sammon, Marco & Shim, John J., 2026. "Index rebalancing and stock market composition: Do indexes time the market?," Journal of Financial Economics, Elsevier, vol. 177(C).
    24. Božović, Miloš, 2024. "VIX-managed portfolios," International Review of Financial Analysis, Elsevier, vol. 95(PA).
    25. Beckmeyer, Heiner & Wiedemann, Timo, 2022. "Recovering Missing Firm Characteristics with Attention-Based Machine Learning," VfS Annual Conference 2022 (Basel): Big Data in Economics 264135, Verein für Socialpolitik / German Economic Association.
    26. Dickerson, Alexander & Julliard, Christian & Mueller, Philippe, 2026. "The co-pricing factor zoo," LSE Research Online Documents on Economics 138476, London School of Economics and Political Science, LSE Library.
    27. Andrew Y. Chen & Jack McCoy, 2022. "Missing Values Handling for Machine Learning Portfolios," Papers 2207.13071, arXiv.org, revised Jan 2024.
    28. Bhaskar Goswami & Ajim Uddin, 2026. "Significance of predictors: revisiting stock return predictions using explainable AI," Annals of Operations Research, Springer, vol. 357(1), pages 223-257, February.
    29. Thomas Conlon & John Cotter & Iason Kynigakis, 2021. "Machine Learning and Factor-Based Portfolio Optimization," Working Papers 202111, Geary Institute, University College Dublin.
    30. Han, Yufeng & Lu, Yueliang (Jacques) & Xu, Weike & Zhou, Guofu, 2024. "Mispricing and Anomalies: An Exogenous Shock to Short Selling from JGTRRA," Journal of Empirical Finance, Elsevier, vol. 78(C).
    31. Sun, Chuanping, 2025. "A correlation-robust shrinkage estimator: Oracle inequality and an application on out-of-sample factor selection," Economics Letters, Elsevier, vol. 255(C).
    32. Andrew Y. Chen, 2022. "Do t-Statistic Hurdles Need to be Raised?," Papers 2204.10275, arXiv.org, revised Apr 2024.
    33. Hurlin, Christophe & Colliard, Jean-Edouard & Pérignon, Christophe, 2024. "The Economics of Computational Reproducibility," HEC Research Papers Series 1521, HEC Paris.
    34. Müller, Sebastian & Pugachyov, Nikolay & Weigert, Florian, 2026. "Forecasting mutual fund performance: Combining return-based with portfolio holdings-based predictors," CFR Working Papers 26-01, University of Cologne, Centre for Financial Research (CFR).
    35. Chen, Xingyu & Chen, Zilin & Tu, Jun & Wang, Liyao & Wang, Luying, 2026. "Proximity to the 52-week high and the risk-return trade-off," Journal of Economic Dynamics and Control, Elsevier, vol. 185(C).
    36. Liu, Yangyi & Luo, Ronghua & Zhao, Senyang, 2023. "Improving factor momentum: Statistical significance matters," Economics Letters, Elsevier, vol. 233(C).
    37. Nusret Cakici & Christian Fieberg & Daniel Metko & Adam Zaremba, 2024. "Do Anomalies Really Predict Market Returns? New Data and New Evidence," Review of Finance, European Finance Association, vol. 28(1), pages 1-44.
    38. McLean, R. David & Pontiff, Jeffrey & Reilly, Christopher, 2025. "Taking sides on return predictability," Journal of Financial Economics, Elsevier, vol. 173(C).
    39. Goh, Jihoon & Jeon, Byounghyun, 2025. "Which investor corrects mispricing around earnings announcements?," Pacific-Basin Finance Journal, Elsevier, vol. 91(C).
    40. Kim, Junyong, 2024. "Zoom in on momentum," International Review of Financial Analysis, Elsevier, vol. 94(C).
    41. Shi, Huai-Long & Chen, Huayi, 2023. "Revisiting asset co-movement: Does network topology really matter?," Research in International Business and Finance, Elsevier, vol. 66(C).
    42. Li, Sicong & DeMiguel, Victor & Martín-Utrera, Alberto, 2024. "Comparing factor models with price-impact costs," Journal of Financial Economics, Elsevier, vol. 162(C).
    43. Pallavi Basu & Luella Fu & Alessio Saretto & Wenguang Sun, 2021. "Empirical Bayes Control of the False Discovery Exceedance," Working Papers 2115, Federal Reserve Bank of Dallas.
    44. Pesaran, M. H. & Smith, R. P., 2023. "The Role of Pricing Errors in Linear Asset Pricing Models with Strong, Semi-strong, and Latent Factors," Cambridge Working Papers in Economics 2317, Faculty of Economics, University of Cambridge.
    45. Wang, Jinzhe & Zhu, Yifeng, 2024. "A comparison of factor models in China," Journal of Empirical Finance, Elsevier, vol. 79(C).
    46. Budras, Oliver & Dierkes, Maik & Sckade, Florian, 2025. "Localized risk factors: Performance differentials between state-level and US factor models," Economic Modelling, Elsevier, vol. 147(C).
    47. Aleksey Kolokolov & Shifan Yu, 2026. "Realized Regularized Regressions," Papers 2604.23023, arXiv.org.
    48. Julian Böll & Julian Thimme & Marliese Uhrig-Homburg, 2026. "Anomalies and optionability," Review of Derivatives Research, Springer, vol. 29(1), pages 1-29, December.
    49. Antoine Falck & Adam Rej & David Thesmar, 2021. "Why and how systematic strategies decay," Papers 2105.01380, arXiv.org.
    50. Kruthof, Garvin & Müller, Sebastian, 2025. "Can deep reinforcement learning beat 1N," Finance Research Letters, Elsevier, vol. 75(C).
    51. DICKERSON, Alexander & NOZAWA, Yoshio & ROBOTTI, Cesare, 2025. "Factor Investing with Delays," Discussion Paper Series 771, Institute of Economic Research, Hitotsubashi University.
    52. Adam Farago & Erik Hjalmarsson, 2023. "Small Rebalanced Portfolios Often Beat the Market over Long Horizons," The Review of Asset Pricing Studies, Society for Financial Studies, vol. 13(2), pages 307-342.
    53. Linying Lv, 2025. "Do Sell-side Analyst Reports Have Investment Value?," Papers 2502.20489, arXiv.org, revised Aug 2025.
    54. Dong, Mengmeng, 2025. "Economic aggregation of return signals in global markets," Journal of Empirical Finance, Elsevier, vol. 84(C).
    55. Vidal-Llana, Xenxo & Guillén, Montserrat, 2022. "Cross-sectional quantile regression for estimating conditional VaR of returns during periods of high volatility," The North American Journal of Economics and Finance, Elsevier, vol. 63(C).
    56. Bui, Dien Giau & Kong, De-Rong & Lin, Chih-Yung & Lin, Tse-Chun, 2023. "Momentum in machine learning: Evidence from the Taiwan stock market," Pacific-Basin Finance Journal, Elsevier, vol. 82(C).
    57. Nima Afsharhajari & Jonathan Yu-Meng Li, 2026. "The Virtue of Sparsity in Complexity," Papers 2604.17166, arXiv.org, revised Sep 2026.
    58. Soebhag, Amar & Van Vliet, Bart & Verwijmeren, Patrick, 2024. "Non-standard errors in asset pricing: Mind your sorts," Journal of Empirical Finance, Elsevier, vol. 78(C).
    59. Changeun Kim & Younwoo Jeong & Bong-Gyu Jang, 2025. "Interpretable Deep Learning for Stock Returns: A Consensus-Bottleneck Asset Pricing Model," Papers 2512.16251, arXiv.org, revised Apr 2026.
    60. Choi, Jaewon & Tian, Xu & Wu, Yufeng & Kargar, Mahyar, 2025. "Investor demand, firm investment, and capital misallocation," Journal of Financial Economics, Elsevier, vol. 168(C).
    61. Azevedo, Vitor, 2023. "Analysts’ underreaction and momentum strategies," Journal of Economic Dynamics and Control, Elsevier, vol. 146(C).
    62. Chen, Bin & Han, Yuefeng & Yu, Qiyang, 2026. "Estimation and inference for CP tensor factor models," Journal of Econometrics, Elsevier, vol. 253(C).
    63. Qiao, Fang, 2024. "Do analysts disseminate anomaly information in China?," Journal of Banking & Finance, Elsevier, vol. 165(C).
    64. Hollstein, Fabian & Prokopczuk, Marcel, 2022. "Testing Factor Models in the Cross-Section," Journal of Banking & Finance, Elsevier, vol. 145(C).
    65. Li, Nanqi & Wei, Chishen & Zhang, Linti, 2023. "Risk factors in the Indonesian stock market," Pacific-Basin Finance Journal, Elsevier, vol. 82(C).
    66. Miguel C. Herculano, 2026. "Bayesian Parametric Portfolio Policies," Papers 2602.21173, arXiv.org.
    67. Clint Howard, 2024. "Choices Matter When Training Machine Learning Models for Return Prediction," Financial Analysts Journal, Taylor & Francis Journals, vol. 80(4), pages 81-107, October.
    68. Joseph E. Engelberg & Richard B. Evans & Greg Leonard & Adam V. Reed & Matthew C. Ringgenberg, 2025. "The Loan Fee Anomaly: A Short Seller’s Best Ideas," Management Science, INFORMS, vol. 71(7), pages 5529-5551, July.
    69. Lalwani, Vaibhav, 2025. "Mean-variance optimization and the cross-section of stock returns," Global Finance Journal, Elsevier, vol. 66(C).
    70. Ma, Chenchen & Tu, Yundong, 2025. "When structural break meets threshold effect: Factor analysis under structural instabilities," Journal of Econometrics, Elsevier, vol. 249(PB).
    71. William C Gerken & Marcus O Painter, 2023. "The Value of Differing Points of View: Evidence from Financial Analysts’ Geographic Diversity," The Review of Financial Studies, Society for Financial Studies, vol. 36(2), pages 409-449.
    72. Andrew Y. Chen, 2021. "The Limits of p‐Hacking: Some Thought Experiments," Journal of Finance, American Finance Association, vol. 76(5), pages 2447-2480, October.
    73. Rachid Maghniwi & Mustapha Oukassi, 2024. "Momentum effect on the Moroccan stock market upon the announcement of the organization of the 2030 World Cup – Analysis by abnormal returns and time series [Effet momentum sur le marché boursier marocain lors de l'annonce de l'organisation de la C," Post-Print hal-04786632, HAL.
    74. Andrew Y. Chen & Tom Zimmermann, 2022. "Publication Bias in Asset Pricing Research," Papers 2209.13623, arXiv.org, revised Sep 2023.
    75. Yin Chen & Roni Israelov, 2024. "Income illusions: challenging the high yield stock narrative," Journal of Asset Management, Palgrave Macmillan, vol. 25(2), pages 190-202, March.
    76. Coqueret, Guillaume & Pérignon, Christophe, 2025. "Persistent Anomalies and Nonstandard Errors," HEC Research Papers Series 1578, HEC Paris.
    77. Li, Bin & Rossi, Alberto G. & Yan, Xuemin (Sterling) & Zheng, Lingling, 2025. "Machine learning from a “Universe” of signals: The role of feature engineering," Journal of Financial Economics, Elsevier, vol. 172(C).
    78. Julian Junyan Wang & Victor Xiaoqi Wang, 2025. "Assessing Consistency and Reproducibility in the Outputs of Large Language Models: Evidence Across Diverse Finance and Accounting Tasks," Papers 2503.16974, arXiv.org, revised Sep 2025.
    79. Zoran Stoiljkovic, 2023. "Applying Reinforcement Learning to Option Pricing and Hedging," Papers 2310.04336, arXiv.org.
    80. Assoe, Kodjovi & Attig, Najah & Sy, Oumar, 2024. "The battle of factors," Global Finance Journal, Elsevier, vol. 62(C).
    81. Fliegel, Philip, 2025. "“Brown” Risk or “Green” Opportunity? The dynamic pricing of climate transition risk on global financial markets," Energy Economics, Elsevier, vol. 145(C).

  6. Tyler Pike & Horacio Sapriza & Tom Zimmermann, 2019. "Bottom-up Leading Macroeconomic Indicators: An Application to Non-Financial Corporate Defaults using Machine Learning," Finance and Economics Discussion Series 2019-070, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Giacomo De Giorgi & Matthew Harding & Gabriel Vasconcelos, 2021. "Predicting Mortality from Credit Reports," Papers 2111.03662, arXiv.org.
    2. Michael T. Kiley, 2020. "Financial Conditions and Economic Activity: Insights from Machine Learning," Finance and Economics Discussion Series 2020-095, Board of Governors of the Federal Reserve System (U.S.).

  7. Shafik Hebous & Tom Zimmermann, 2019. "Can government demand stimulate private investment? Evidence from U.S. federal procurement," CESifo Working Paper Series 7534, CESifo.

    Cited by:

    1. Andrea Alati & Johannes J. Fischer & Maren Froemel & Ozgen Ozturk, 2024. "Firms’ Sales Expectations and Marginal Propensity to Invest," Discussion Papers 2424, Centre for Macroeconomics (CFM).
    2. Matilde Cappelletti & Leonardo M. Giuffrida, 2024. "Targeted Bidders in Government Tenders," CESifo Working Paper Series 11142, CESifo.
    3. Matilde Cappelletti & Leonardo M. Giuffrida & Gabriele Rovigatti, 2024. "Procuring Survival," Journal of Industrial Economics, Wiley Blackwell, vol. 72(4), pages 1451-1506, December.
    4. Julian di Giovanni & Manuel García-Santana & Priit Jeenas & Enrique Moral-Benito & Josep Pijoan-Mas, 2022. "Government Procurement and Access to Credit: Firm Dynamics and Aggregate Implications," Working Papers wp2022_2203, CEMFI.
    5. Awad Ali Alanzi, 2021. "Saudi Procurement System and Regulations: Overview of Local and International Administrative Contracts," Laws, MDPI, vol. 10(2), pages 1-15, May.
    6. Xia, Jia & Wei, Wei, 2025. "Government procurement and corporate investment: Evidence from China's A-share listed companies," Economic Modelling, Elsevier, vol. 152(C).
    7. Alvaro Ortiz & Tomasa Rodrigo & David Sarasa Flores & Pedro Torinos & Sirenia Vázquez, 2025. "Spain | What can 240,000 new credit transactions tell us about the impact of NGEU funds?," Working Papers 25/03, BBVA Bank, Economic Research Department.
    8. Lavinia Piemontese & Andrea Tulli, 2026. "Public Demand Allocation and Productivity of the Private Sector," Working Papers wp1218, Dipartimento Scienze Economiche, Universita' di Bologna.
    9. Chen, Jing & Liu, Shenglong & Zhang, Xiaoming, 2025. "Resources coupled with executive authority: Implications of relocating government administrative headquarters for local economic development," World Development, Elsevier, vol. 185(C).
    10. Tkachenko, Andrey, 2022. "State-business relations and access to external financing," BOFIT Discussion Papers 10/2022, Bank of Finland Institute for Emerging Economies (BOFIT).
    11. Gabriel, Ricardo Duque, 2024. "The Credit Channel of Public Procurement," Journal of Monetary Economics, Elsevier, vol. 147(S).
    12. Priit Jeenas & Josep Pijoan-Mas & Enrique Moral-Benito & Manuel García-Santana & Julian di Giovanni, 2022. "Buy Big or Buy Small? Procurement Policies, Firms' Financing, and the Macroeconomy," Working Papers 1321, Barcelona School of Economics.
    13. Andrea Recine & Massimiliano Tancioni, 2025. "Macroeconomic Effects of Government Defense and Non-Defense R&D," Working Papers in Public Economics 262, Department of Economics and Law, Sapienza University of Rome.
    14. Bernard Hoekman & Marco Sanfilippo & Filippo Santi, 2022. "Government Demand and Domestic Firms Growth: Evidence from Uganda," RSCAS Working Papers 2022/54, European University Institute.
    15. Serenella Caravella & Francesco Crespi & Dario Guarascio & Matteo Tubiana, 2020. "Competitive strategies, heterogeneous demand sources and firms' growth trajectories," LEM Papers Series 2020/01, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    16. Bernard Hoekman & Marco Sanfilippo, 2020. "Foreign participation in public procurement and firm performance: evidence from sub-Saharan Africa," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 156(1), pages 41-73, February.
    17. Kim, Wongi, 2023. "Private sector debt overhang and government spending multipliers: Not all debts are alike," European Economic Review, Elsevier, vol. 154(C).
    18. Yan, Muci & Ren, Xiaohang & Pan, Zhaoyi, 2025. "Government procurement and corporate vertical specialization," Finance Research Letters, Elsevier, vol. 77(C).
    19. Geumbi Park & Xiaoqing Zhou & Sarah Zubairy, 2025. "Subcontracting in Federal Spending: Micro and Macro Implications," Working Papers 2535, Federal Reserve Bank of Dallas, revised 12 May 2026.
    20. Andrea Alati & Johannes J Fischer & Maren Froemel & Ozgen Ozturk, 2024. "Firms’ sales expectations and marginal propensity to invest," Bank of England Staff Working Paper series 1087, Bank of England.
    21. Russell E. Triplett & Nilufer Ozdemir & Paul M. Mason, 2022. "Structural Change in the Investment Function," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 46(1), pages 220-236, January.
    22. Bouakez, Hafedh & Rachedi, Omar & Santoro, Emiliano, 2025. "The sectoral origins of heterogeneous spending multipliers," Journal of Public Economics, Elsevier, vol. 248(C).
    23. Shu Guan & Mingshan Li, 2025. "Government Procurement and Corporate Green Innovation: Evidence from Dual Machine Learning," SAGE Open, , vol. 15(4), pages 21582440251, November.
    24. Marco Amendola & Marcelo C. Pereira, 2026. "Are fiscal multipliers state-dependent? Insights from an agent-based model," Journal of Evolutionary Economics, Springer, vol. 36(1), pages 1-34, April.
    25. Alvaro Ortiz & Tomasa Rodrigo & David Sarasa & Sirenia Vazquez, 2025. "What Can 240,000 New Credit Transactions Tell Us About the Impact of NGEU Funds?," Papers 2504.01964, arXiv.org, revised Apr 2025.
    26. Lucas Knust & David Oesch, 2024. "Fiscal monitoring and corporate investment," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 51(5-6), pages 1273-1301, May.
    27. Donghun Yoon, 2023. "The Improvement Policy Design of Public Procurement Process for the Public Management Innovation in South Korea," SAGE Open, , vol. 13(1), pages 21582440231, March.
    28. Xiaoyue Yu & Su Yu & Fulong Xiao & Zhuquan Wang, 2024. "Government procurement and zombie firms' productivity: Evidence from China," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 64(5), pages 4675-4700, December.
    29. Brogaard, Jonathan & Gerasimova, Nataliya & Rohrer, Maximilian, 2024. "The effect of female leadership on contracting from Capitol Hill to Main Street," Journal of Financial Economics, Elsevier, vol. 155(C).
    30. Olga Chiappinelli & Ambrogio Dalò & Leonardo M. Giuffrida & Vitezslav Titl, 2025. "The Greener, the Better? Evidence from Government Contractors," CESifo Working Paper Series 11696, CESifo.
    31. Bernard Hoekman & Marco Sanfilippo, 2018. "Firm performance and participation in public procurement: Evidence from Sub-Saharan Africa," RSCAS Working Papers 2018/16, European University Institute.
    32. Kelvin Mugambi Kinyua & Frederick Kibon Changwony & Kevin Campbell, 2025. "Government procurement contracts, external audit certification, and financing of small- and medium-sized enterprises," Small Business Economics, Springer, vol. 64(3), pages 1163-1231, March.
    33. Hang, Jing & Zhan, Chaoqun, 2023. "Government procurement and resource misallocation: Evidence from China," Journal of Economic Behavior & Organization, Elsevier, vol. 216(C), pages 568-589.
    34. Colombo, Emilio & Furceri, Davide & Pizzuto, Pietro & Tirelli, Patrizio, 2024. "Public expenditure multipliers and informality," European Economic Review, Elsevier, vol. 164(C).

  8. Stephan Luck & Tom Zimmermann, 2018. "Employment Effects of Unconventional Monetary Policy : Evidence from QE," Finance and Economics Discussion Series 2018-071, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Martina Jasova & Caterina Mendicino & Ettore Panetti & José-Luis Peydró & Dominik Supera, 2021. "Monetary policy, labor income redistribution and the credit channel: Evidence from matched employer-employee and credit registers," Economics Working Papers 1832, Department of Economics and Business, Universitat Pompeu Fabra, revised Mar 2023.
    2. Xu, Xiangbing & Dong, Nanyan & Wu, Chengzhang & Luo, Sicheng, 2025. "The employment effects of anticorruption: Evidence from China," Emerging Markets Review, Elsevier, vol. 66(C).
    3. Supriya Kapoor & Oana Peia, 2020. "The Impact of Quantitative Easing on Liquidity Creation," Working Papers 202009, School of Economics, University College Dublin.
    4. Prabheesh, K.P. & Padhan, Rakesh & Bhat, Javed Ahmad, 2024. "Do financial markets react to emerging economies’ asset purchase program? Evidence from the COVID-19 pandemic period," Journal of Asian Economics, Elsevier, vol. 90(C).
    5. Liu, Xiaoling & Wu, Yuhui & Zhang, Huan, 2023. "Collateral-based monetary policy and corporate employment: Evidence from Medium-term Lending Facility in China," Journal of Corporate Finance, Elsevier, vol. 78(C).
    6. Wang, Ling, 2022. "The dynamics of money supply determination under asset purchase programs: A market-based versus a bank-based financial system," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 79(C).
    7. Johannes F. Wieland & Mu‐Jeung Yang, 2020. "Financial Dampening," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(1), pages 79-113, February.
    8. Evgenidis, Anastasios & Malliaris, Anastasios, 2023. "House Bubbles, global imbalances and monetary policy in the US," Journal of International Money and Finance, Elsevier, vol. 138(C).
    9. Xue Li & Hexiang Yang & Jenny Jing Wang, 2025. "Who Deserves the Credit for Lower Unemployment? Structural Monetary Policy Tools and Corporate Labour Employment in China," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 65(4), pages 3829-3843, December.
    10. António Afonso & Francisco Gomes Pereira, 2022. "Unconventional Monetary Policy in the Euro Area. Impacts on Loans, Employment, and Investment," CESifo Working Paper Series 9610, CESifo.
    11. Gil Nogueira & Luísa Farinha & Laura Blattner, 2024. "Not All Shocks Are Created Equal: Assessing Heterogeneity in the Bank Lending Channel," Management Science, INFORMS, vol. 70(10), pages 6942-6965, October.
    12. Li, Boyao, 2024. "A balance sheet analysis of monetary policy effects on banks," MPRA Paper 120882, University Library of Munich, Germany.
    13. Viral V. Acharya & Ryan N. Banerjee & Matteo Crosignani & Tim Eisert & Renée Spigt, 2022. "Exorbitant Privilege? Quantitative Easing and the Bond Market Subsidy of Prospective Fallen Angels," Staff Reports 1004, Federal Reserve Bank of New York.
    14. Jan Ditzen & Yiannis Karavias & Joakim Westerlund, 2023. "Multiple Structural Breaks in Interactive Effects Panel Data and the Impact of Quantitative Easing on Bank Lending," BEMPS - Bozen Economics & Management Paper Series BEMPS99, Faculty of Economics and Management at the Free University of Bozen.
    15. Li, Boyao, 2024. "A balance sheet analysis of monetary policy effects on banks," Global Finance Journal, Elsevier, vol. 61(C).
    16. Daniel L. Greenwald & John Krainer & Pascal Paul, 2024. "Monetary Transmission through Bank Securities Portfolios," Working Paper Series 2023-18, Federal Reserve Bank of San Francisco.
    17. Liu, Shiyu & Wang, Bo & Zhang, Qianqian, 2024. "Fintech regulation and bank liquidity creation: Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 84(C).
    18. Perdichizzi, Salvatore & Duqi, Andi & Molyneux, Philip & Tamimi, Hussein Al, 2023. "Does unconventional monetary policy boost local economic development? The case of TLTROs and Italy," Journal of Banking & Finance, Elsevier, vol. 148(C).
    19. Kong, Dongmin & Liang, Weiming & Ji, Fei, 2024. "Affiliated guarantee risk control and firm cash holdings: Evidence from China," International Review of Economics & Finance, Elsevier, vol. 95(C).
    20. Jan Ditzen & Yiannis Karavias & Joakim Westerlund, 2025. "Multiple Structural Breaks in Interactive Effects Panel Data Models," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 40(1), pages 74-88, January.
    21. Wenli Lu & Shengrong Lu, 2025. "China's Low Interest Rate Environment and Corporate Default Risk," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 33(6), pages 246-278, November.
    22. Cahn, Christophe & Duquerroy, Anne & Mullins, William, 2017. "Unconventional Monetary Policy and Bank Lending Relationships," SocArXiv vgk25, Center for Open Science.
    23. Martina Jasova & Caterina Mendicino & Dominik Supera, 2018. "Rollover Risk and Bank Lending Behavior: Evidence from Unconventional Central Bank Liquidity," 2018 Meeting Papers 500, Society for Economic Dynamics.
    24. Rhys Bidder & John Krainer & Adam Shapiro, 2021. "De-leveraging or de-risking? How banks cope with loss," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 39, pages 100-127, January.
    25. Goetz, Martin, 2019. "Financing conditions and toxic emissions," SAFE Working Paper Series 254, Leibniz Institute for Financial Research SAFE.
    26. Jasova, Martina & Mendicino, Caterina & Supera, Dominik, 2021. "Policy uncertainty, lender of last resort and the real economy," Journal of Monetary Economics, Elsevier, vol. 118(C), pages 381-398.
    27. Cohen, Lior, 2023. "The effects of the BoJ's ETF purchases on equities and corporate investment," Economic Modelling, Elsevier, vol. 129(C).
    28. Yang, Jinyu & Dong, Dayong & Liang, Chao & Cao, Yang, 2024. "Monetary policy uncertainty and the price bubbles in energy markets," Energy Economics, Elsevier, vol. 133(C).
    29. Arikan, Cengiz & Yalcin, Yeliz, 2017. "Do The Countries’ Monetary Policies Have Spatial Impact?," MPRA Paper 83407, University Library of Munich, Germany.
    30. Maurizio Solari & Alexandre Le Bloc’h & Sergio Rossi, 2024. "Ecological transition in a monetary economy of production: a heterodox approach," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 14(1), pages 13-37, March.
    31. Sclip, Alex & Girardone, Claudia & Beltrame, Federico & Paltrinieri, Andrea, 2021. "Bank risks and lending outcomes: Evidence from QE," Journal of International Money and Finance, Elsevier, vol. 118(C).
    32. Yannis Dafermos, 2021. "Climate change, central banking and financial supervision: beyond the risk exposure approach," Working Papers 243, Department of Economics, SOAS University of London, UK.
    33. Jasova, Martina & Mendicino, Caterina & Supera, Dominik, 2021. "Policy uncertainty, lender of last resort and the real economy," Working Paper Series 2521, European Central Bank.
    34. Iñaki Aldasoro & Sebastian Doerr & Haonan Zhou, 2026. "Liquidity regulation and bank funding costs," BIS Working Papers 1352, Bank for International Settlements.
    35. Galindo Gil, Hamilton, 2021. "What kind of firm is more responsive to the unconventional monetary policy?," The Quarterly Review of Economics and Finance, Elsevier, vol. 81(C), pages 188-200.
    36. Francisco Serranito & Philipp RODERWEIS & Jamel Saadaoui, 2023. "Is Quantitative Easing Productive? The Role of Bank Lending in the Monetary Transmission Process," EconomiX Working Papers 2023-17, University of Paris Nanterre, EconomiX.
    37. Christian Bittner & Alexander Rodnyansky & Farzad Saidi & Yannick Timmer, 2021. "Mixing QE and Interest Rate Policies at the Effective Lower Bound: Micro Evidence from the Euro Area," CESifo Working Paper Series 9363, CESifo.
    38. Gil Nogueira & Luísa Farinha & Laura Blattner, 2021. "Not All Shocks Are Created Equal: Assessing Heterogeneity in the Bank Lending Channel," Working Papers w202120, Banco de Portugal, Economics and Research Department.
    39. Xudong An & Saket Hegde & Harren Jan & Mete Kilic & Rodney Ramcharan, 2025. "The Fed Put and Bank Risk-Taking Evidence from the Loan Book," Working Papers 25-42, Federal Reserve Bank of Philadelphia.
    40. Cumming, Fergus, 2022. "Mortgage cash-flows and employment," European Economic Review, Elsevier, vol. 144(C).
    41. Wang, Ling, 2023. "Central bank asset purchases, banks’ risky security holdings and profitability: Macro and micro evidence from Japan and the U.S," International Review of Economics & Finance, Elsevier, vol. 87(C), pages 347-364.
    42. Dong, Nanyan & Zhang, Jiang & Xu, Xiangbing & Ou, Peiyu, 2026. "Judicial Independence and corporate labor investment: Evidence from China," Emerging Markets Review, Elsevier, vol. 70(C).
    43. Fergus Cumming, 2018. "Mortgages, cash-flow shocks and local employment," Bank of England Staff Working Paper series 773, Bank of England.
    44. Schaffer, Matthew & Segev, Nimrod, 2025. "Quantitative easing, bank lending, and aggregate fluctuations," Journal of Financial Stability, Elsevier, vol. 81(C).
    45. Chen, Hong & Jin, Zhao & Tang, Yanfei, 2025. "The innovation effects of regulation on bank wealth management products: Theory and evidence from China," Journal of Banking & Finance, Elsevier, vol. 181(C).
    46. Ozan Güler & Mike Mariathasan & Klaas Mulier & Nejat G. Okatan, 2021. "The real effects of banks' corporate credit supply: A literature review," Economic Inquiry, Western Economic Association International, vol. 59(3), pages 1252-1285, July.
    47. Richard Simmons, 2024. "Monetary Transmission & Small Firm Credit Rationing: The Stablecoin Opportunity to Raise Business Credit Flows," FinTech, MDPI, vol. 3(3), pages 1-28, August.
    48. Karlyn Mitchell & Douglas K. Pearce, 2020. "How Did Unconventional Monetary Policy Affect Economic Forecasts?," Contemporary Economic Policy, Western Economic Association International, vol. 38(1), pages 206-220, January.
    49. Xue Li & Lanshan Gui & Pingping Wang, 2026. "New Tools, Big Questions: Is Unconventional Monetary Policy Driving Real Change?—Evidence From Listed Companies in China, the U.S., and Japan," The Financial Review, Eastern Finance Association, vol. 61(3), pages 901-925, August.
    50. Spokeviciute, Laima & Keasey, Kevin & Vallascas, Francesco, 2019. "Do financial crises cleanse the banking industry? Evidence from US commercial bank exits," Journal of Banking & Finance, Elsevier, vol. 99(C), pages 222-236.
    51. Chen, Hsuan-Chi & Chou, Robin K. & Lin, Chih-Yung & Lu, Chien-Lin, 2022. "Bank loans during the 2008 quantitative easing," Journal of Financial Stability, Elsevier, vol. 59(C).
    52. Andrew F. Haughwout & Benjamin Hyman & Or Shachar, 2021. "The Option Value of Municipal Liquidity: Evidence from Federal Lending Cutoffs during COVID-19," Staff Reports 988, Federal Reserve Bank of New York.
    53. Christophe Cahn & Anne Duquerroy & William Mullins, 2025. "Unconventional Monetary Policy Transmission and Bank Lending Relationships," Management Science, INFORMS, vol. 71(2), pages 1187-1212, February.

  9. Andrew Y. Chen & Tom Zimmermann, 2018. "Publication Bias and the Cross-Section of Stock Returns," Finance and Economics Discussion Series 2018-033, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Andrew Y. Chen & Ivo Welch, 2026. "What Useful Alphas?," Papers 2607.06502, arXiv.org.
    2. Azevedo, Vitor & Müller, Sebastian, 2024. "Analyst recommendations and mispricing across the globe," Journal of Banking & Finance, Elsevier, vol. 169(C).
    3. Andrew C. Chang & Trace J. Levinson, 2020. "Raiders of the Lost High-Frequency Forecasts: New Data and Evidence on the Efficiency of the Fed's Forecasting," Finance and Economics Discussion Series 2020-090, Board of Governors of the Federal Reserve System (U.S.).
    4. Andrew Y. Chen, 2019. "The Limits of p-Hacking : A Thought Experiment," Finance and Economics Discussion Series 2019-016, Board of Governors of the Federal Reserve System (U.S.).
    5. Chen, Andrew Y. & McCoy, Jack, 2024. "Missing values handling for machine learning portfolios," Journal of Financial Economics, Elsevier, vol. 155(C).
    6. Broman, Markus & Fulkerson, Jon, 2025. "Variation in the value of active share across regions of investments: Evidence from global equity funds," Journal of Banking & Finance, Elsevier, vol. 180(C).
    7. Ruoxuan Xiong & Markus Pelger, 2019. "Large Dimensional Latent Factor Modeling with Missing Observations and Applications to Causal Inference," Papers 1910.08273, arXiv.org, revised Jan 2022.
    8. Andrew Y. Chen & Chukwuma Dim, 2023. "High-Throughput Asset Pricing," Papers 2311.10685, arXiv.org, revised Jun 2025.
    9. Berggrun, Luis & Cardona, Emilio & Lizarzaburu, Edmundo, 2024. "Evaluating asset pricing anomalies: Evidence from Latin America," Research in International Business and Finance, Elsevier, vol. 70(PB).
    10. Andrew Y. Chen, 2022. "Most claimed statistical findings in cross-sectional return predictability are likely true," Papers 2206.15365, arXiv.org, revised Nov 2025.
    11. Yukun Liu & Aleh Tsyvinski, 2019. "Risks and Returns of Cryptocurrency," 2019 Meeting Papers 160, Society for Economic Dynamics.
    12. Han, Yufeng & Lu, Yueliang (Jacques) & Xu, Weike & Zhou, Guofu, 2024. "Mispricing and Anomalies: An Exogenous Shock to Short Selling from JGTRRA," Journal of Empirical Finance, Elsevier, vol. 78(C).
    13. Andrew Y. Chen, 2022. "Do t-Statistic Hurdles Need to be Raised?," Papers 2204.10275, arXiv.org, revised Apr 2024.
    14. Jiří Witzany, 2021. "A Bayesian Approach to Measurement of Backtest Overfitting," Risks, MDPI, vol. 9(1), pages 1-22, January.
    15. Vincent, Kendro & Hsu, Yu-Chin & Lin, Hsiou-Wei, 2021. "Investment styles and the multiple testing of cross-sectional stock return predictability," Journal of Financial Markets, Elsevier, vol. 56(C).
    16. Alexandre Ripamonti & Raphael Videira & Denis Ichimura, 2020. "Asymmetric information and daily stock prices in Brazil," Estudios Gerenciales, Universidad Icesi, vol. 36(157), pages 465-472.
    17. Zhipeng Liao & Yan Liu & Zhenzhen Xie, 2024. "Optimal Cross-Sectional Regression," Management Science, INFORMS, vol. 70(11), pages 7911-7942, November.
    18. Cujean, Julien & Andrei, Daniel & Fournier, Mathieu, 2019. "The Low-Minus-High Portfolio and the Factor Zoo," CEPR Discussion Papers 14153, Centre for Economic Policy Research.
    19. Chinco, Alex & Neuhierl, Andreas & Weber, Michael, 2021. "Estimating the anomaly base rate," Journal of Financial Economics, Elsevier, vol. 140(1), pages 101-126.
    20. Chen, Hailiang & Hwang, Byoung-Hyoun, 2022. "Listening in on investors’ thoughts and conversations," Journal of Financial Economics, Elsevier, vol. 145(2), pages 426-444.
    21. Jacobs, Heiko & Müller, Sebastian, 2020. "Anomalies across the globe: Once public, no longer existent?," Journal of Financial Economics, Elsevier, vol. 135(1), pages 213-230.
    22. Andrew Y. Chen & Alejandro Lopez-Lira & Tom Zimmermann, 2022. "Does Peer-Reviewed Research Help Predict Stock Returns?," Papers 2212.10317, arXiv.org, revised Dec 2025.
    23. Yukun Liu & Aleh Tsyvinski & Xi Wu, 2019. "Common Risk Factors in Cryptocurrency," NBER Working Papers 25882, National Bureau of Economic Research, Inc.
    24. Andrew Y. Chen, 2025. "Do t -Statistic Hurdles Need to Be Raised?," Management Science, INFORMS, vol. 71(7), pages 5830-5848, July.
    25. Cakici, Nusret & Zaremba, Adam & Bianchi, Robert J. & Pham, Nga, 2021. "False discoveries in the anomaly research: New insights from the Stock Exchange of Melbourne (1927–1987)," Pacific-Basin Finance Journal, Elsevier, vol. 70(C).
    26. Shynkevich, Andrei, 2025. "Wine market efficiency: Is glass half full or half empty?," International Review of Economics & Finance, Elsevier, vol. 98(C).
    27. Andrew Y. Chen, 2021. "The Limits of p‐Hacking: Some Thought Experiments," Journal of Finance, American Finance Association, vol. 76(5), pages 2447-2480, October.
    28. Andrew Y. Chen & Tom Zimmermann, 2022. "Publication Bias in Asset Pricing Research," Papers 2209.13623, arXiv.org, revised Sep 2023.
    29. Li, Bin & Rossi, Alberto G. & Yan, Xuemin (Sterling) & Zheng, Lingling, 2025. "Machine learning from a “Universe” of signals: The role of feature engineering," Journal of Financial Economics, Elsevier, vol. 172(C).
    30. Chen, Andrew Y. & Zimmermann, Tom, 2020. "Open source cross-sectional asset pricing," CFR Working Papers 20-04, University of Cologne, Centre for Financial Research (CFR).
    31. Andrew Y. Chen & Mihail Velikov, 2020. "Zeroing in on the Expected Returns of Anomalies," Finance and Economics Discussion Series 2020-039, Board of Governors of the Federal Reserve System (U.S.).

  10. Robert J. Kurtzman & Stephan Luck & Tom Zimmermann, 2017. "Did QE Lead Banks to Relax Their Lending Standards? Evidence from the Federal Reserve's LSAPs," Finance and Economics Discussion Series 2017-093, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Zhang, Zheng & Wang, Wenxue & Song, Ciji, 2024. "Quantitative easing and bank risk-taking: Evidence from the federal reserve's large-scale asset purchases," Finance Research Letters, Elsevier, vol. 67(PA).
    2. Berrospide, Jose M., 2022. "IFABS 2017: Towards an Integrated View of Financial Regulation: Key Lessons from the Crisis and Future Challenges," Journal of Banking & Finance, Elsevier, vol. 138(C).
    3. Óscar Arce & Miguel García-Posada & Sergio Mayordomo & Steven Ongena, 2018. "Adapting lending policies in a “negative-for-long” scenario (Updated October 2020)," Working Papers 1832, Banco de España, revised Oct 2020.
    4. Bednarek, Peter & Dinger, Valeriya & Kaat, Daniel Marcel te & Westernhagen, Natalja von, 2021. "To whom do banks channel central bank funds?," Journal of Banking & Finance, Elsevier, vol. 128(C).
    5. Lucas Hafemann & Peter Tillmann, 2021. "Lending Standards and the Business Cycle: Evidence from Loan Survey Releases," MAGKS Papers on Economics 202131, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    6. John Thornton & Caterina Di Tommaso, 2021. "The effect of non‐performing loans on credit expansion: Do capital and profitability matter? Evidence from European banks," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(3), pages 4822-4839, July.
    7. Dario Caldara & Etienne Gagnon & Enrique Martínez García & Christopher J. Neely, 2020. "Monetary Policy and Economic Performance Since the Financial Crisis," Globalization Institute Working Papers 399, Federal Reserve Bank of Dallas.
    8. Byrne, David & Kelly, Robert, 2019. "Monetary policy expectations and risk-taking among U.S. banks," Research Technical Papers 6/RT/19, Central Bank of Ireland.
    9. Goetz, Martin, 2019. "Financing conditions and toxic emissions," SAFE Working Paper Series 254, Leibniz Institute for Financial Research SAFE.
    10. Andrea Landi, Alex Sclip, Valeria Venturelli, 2019. "The effect of the Fed zero-lower bound announcementon bank profitability and diversification," Centro Studi di Banca e Finanza (CEFIN) (Center for Studies in Banking and Finance) 0079, Universita di Modena e Reggio Emilia, Dipartimento di Economia "Marco Biagi".
    11. Atasoy, Burak Sencer & Özkan, İbrahim & Erden, Lütfi, 2024. "The determinants of systemic risk contagion," Economic Modelling, Elsevier, vol. 130(C).
    12. Bednarek, Peter & Dinger, Valeriya & te Kaat, Daniel Marcel & von Westernhagen, Natalja, 2020. "Central bank funding and credit risk-taking," Discussion Papers 36/2020, Deutsche Bundesbank.
    13. Robert J. Kurtzman & David Zeke, 2017. "Misallocation Costs of Digging Deeper into the Central Bank Toolkit," Finance and Economics Discussion Series 2017-076, Board of Governors of the Federal Reserve System (U.S.).
    14. Stephan Luck & Tom Zimmermann, 2018. "Employment Effects of Unconventional Monetary Policy : Evidence from QE," Finance and Economics Discussion Series 2018-071, Board of Governors of the Federal Reserve System (U.S.).
    15. Tischer, Johannes, 2018. "Quantitative easing, portfolio rebalancing and credit growth: Micro evidence from Germany," Discussion Papers 20/2018, Deutsche Bundesbank.
    16. Schaffer, Matthew & Segev, Nimrod, 2025. "Quantitative easing, bank lending, and aggregate fluctuations," Journal of Financial Stability, Elsevier, vol. 81(C).
    17. Sam Miller & Boromeus Wanengkirtyo, 2020. "Liquidity and monetary transmission: a quasi-experimental approach," Bank of England Staff Working Paper series 891, Bank of England.
    18. Mark A. Carlson & Stefania D'Amico & Cristina Fuentes-Albero & Bernd Schlusche & Paul R. Wood, 2020. "Issues in the Use of the Balance Sheet Tool," Finance and Economics Discussion Series 2020-071, Board of Governors of the Federal Reserve System (U.S.).
    19. Matthew Schaffer & Nimrod Segev, 2023. "Quantitative Easing, Bank Lending, and Aggregate Fluctuations," Bank of Israel Working Papers 2023.01, Bank of Israel.

  11. Shafik Hebous & Tom Zimmermann, 2014. "Revisiting the Narrative Approach of Estimating Tax Multipliers," CESifo Working Paper Series 5040, CESifo.

    Cited by:

    1. Richard McManus, 2018. "Fiscal Trade‐Offs: The Relationship Between Output and Debt in Policy Interventions," Manchester School, University of Manchester, vol. 86(S1), pages 50-82, September.
    2. Choi, Sangyup & Shin, Junhyeok, 2023. "Household indebtedness and the macroeconomic effects of tax changes," Journal of Economic Behavior & Organization, Elsevier, vol. 209(C), pages 22-52.
    3. van der Wielen, Wouter, 2019. "The Macroeconomic Effects of Tax Reform: Evidence from the EU," JRC Working Papers on Taxation & Structural Reforms 2019-04, Joint Research Centre.
    4. Rabia Rafique & Asad Nisar & Syed Sadaqat Ali Shah, 2024. "Testing the effects of fiscal policy shocks on output growth in recession and expansion: empirical evidence from developing countries," Economic Change and Restructuring, Springer, vol. 57(3), pages 1-26, June.
    5. Winter, Christoph & Kraus, Beatrice, 2016. "Do Tax Changes Affect Credit Markets and Financial Frictions? Evidence from Credit Spreads," VfS Annual Conference 2016 (Augsburg): Demographic Change 145636, Verein für Socialpolitik / German Economic Association.
    6. Ms. Era Dabla-Norris & Frederico Lima, 2018. "Macroeconomic Effects of Tax Rate and Base Changes: Evidence from Fiscal Consolidations," IMF Working Papers 2018/220, International Monetary Fund.
    7. Hayley Pallan, 2022. "Do Investors Care About Consumption Taxes? Evidence from Equities in Advanced and Emerging Economies," IHEID Working Papers 14-2022, Economics Section, The Graduate Institute of International Studies.
    8. Christofzik, Désirée I. & Fuest, Angela & Jessen, Robin, 2020. "Macroeconomic effects of the anticipation and implementation of tax changes in Germany: Evidence from a narrative account," Ruhr Economic Papers 852, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    9. Kim, Wongi, 2019. "Government spending policy uncertainty and economic activity: US time series evidence," Journal of Macroeconomics, Elsevier, vol. 61(C), pages 1-1.
    10. Dabla-Norris, Era & Lima, Frederico, 2023. "Macroeconomic effects of tax rate and base changes: Evidence from fiscal consolidations," European Economic Review, Elsevier, vol. 153(C).
    11. Georgios Karras, 2019. "Macroeconomic Effects of Tax Changes: Evidence from a Sample of OECD Countries," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 69(3), pages 111-138, July-Sept.

  12. Shafik Hebous & Tom Zimmermann, 2013. "Cross-Border Effects of Fiscal Consolidations: Estimates Based on Narrative Records," CESifo Working Paper Series 4311, CESifo.

    Cited by:

    1. Patrick Blagrave & Giang Ho & Ksenia Koloskova & Mr. Esteban Vesperoni, 2018. "Cross-Border Transmission of Fiscal Shocks: The Role of Monetary Conditions," IMF Working Papers 2018/103, International Monetary Fund.
    2. Vetlov, Igor & Attinasi, Maria Grazia & Lalik, Magdalena, 2017. "Fiscal spillovers in the euro area a model-based analysis," Working Paper Series 2040, European Central Bank.
    3. Bicu, A.C. & Lieb, L.M., 2015. "Cross-border effects of fiscal policy in the Eurozone," Research Memorandum 019, Maastricht University, Graduate School of Business and Economics (GSBE).
    4. Taiwo, Shakirudeen & Uwillingiye, Josine & Osei-Assibey, Kwame, 2026. "Macroeconomic fluctuations in Sub-Saharan Africa: Role of external shocks," Resources Policy, Elsevier, vol. 113(C).
    5. Sebastian Gechert & Rafael Mentges, 2017. "Financial Cycles and fiscal multipliers," FMM Working Paper 04-2017, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    6. Shafik Hebous & Tom Zimmermann, 2012. "Estimating the Effects of Coordinated Fiscal Actions in the Euro Area," CESifo Working Paper Series 3912, CESifo.

  13. Hauptmeier, Sebastian & Cimadomo, Jacopo & Zimmermann, Tom, 2013. "Fiscal consolidations and bank balance sheets," Working Paper Series 1511, European Central Bank.

    Cited by:

    1. Bantyergu Engida Bati, 2025. "Determinants of Ethiopian banking sector development: a 30-year empirical analysis with ARDL model," Journal of Innovation and Entrepreneurship, Springer, vol. 14(1), pages 1-21, December.
    2. Róbert Oravský & Peter Tóth & Anna Bánociová, 2020. "The Ability of Selected European Countries to Face the Impending Economic Crisis Caused by COVID-19 in the Context of the Global Economic Crisis of 2008," JRFM, MDPI, vol. 13(8), pages 1-17, August.
    3. Georgios Georgantas & Maria Kasselaki & Athanasios Tagkalakis, 2022. "The short-run effects of fiscal adjustment in OECD countries," Working Papers 308, Bank of Greece.
    4. Hernández de Cos, Pablo & Warmedinger, Thomas & Checherita-Westphal, Cristina, 2015. "Fiscal multipliers and beyond," Occasional Paper Series 162, European Central Bank.
    5. João Tovar Jalles & André Teixeira, 2025. "Austerity And Banking: The Impact Of Fiscal Consolidation On Bank Efficiency And Stability," Working Papers REM 2025/0370, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    6. Georgantas, Georgios & Kasselaki, Maria & Tagkalakis, Athanasios, 2023. "Τhe effects of fiscal consolidation in OECD countries," Economic Modelling, Elsevier, vol. 118(C).

  14. Shafik Hebous & Tom Zimmermann, 2012. "Estimating the Effects of Coordinated Fiscal Actions in the Euro Area," CESifo Working Paper Series 3912, CESifo.

    Cited by:

    1. Amélie BARBIER-GAUCHARD, 2020. "Blueprint for the European Fiscal Union: State of knowledge and Challenges," Working Papers of BETA 2020-39, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    2. Agnes Benassy-Quere, 2016. "Euro-Area Fiscal Stance: From Theory to Practical Implementation," CESifo Working Paper Series 6040, CESifo.
    3. Landon, Stuart & Smith, Constance, 2017. "Does the design of a fiscal rule matter for welfare?," Economic Modelling, Elsevier, vol. 63(C), pages 226-237.
    4. Isai Quispe, 2017. "Fiscal Shocks and International Production Networks: An Empirical Investigation," IHEID Working Papers 20-2017, Economics Section, The Graduate Institute of International Studies.
    5. Vanessa Kunzmann, 2023. "Estimating Regime Dependent Fiscal Spillover Effects in a Monetary Union," Working Papers 227, Bavarian Graduate Program in Economics (BGPE).
    6. Gadatsch, Niklas & Hauzenberger, Klemens & Stähler, Nikolai, 2015. "German and the rest of euro area fiscal policy during the crisis," Discussion Papers 05/2015, Deutsche Bundesbank.
    7. Marzia Romanelli & Pietro Tommasino & Emilio VadalÃ, 2022. "The future of European fiscal governance: a comprehensive approach," Questioni di Economia e Finanza (Occasional Papers) 691, Bank of Italy, Economic Research and International Relations Area.
    8. Atanas Pekanov, 2018. "The New View on Fiscal Policy and its Implications for the European Monetary Union," WIFO Working Papers 562, WIFO.
    9. Michael B. Devereux, 2018. "International Fiscal Spillovers: A Review Essay," Korean Economic Review, Korean Economic Association, vol. 34, pages 29-50.
    10. Gagnon, Marie-Hélène & Gimet, Céline, 2013. "The impacts of standard monetary and budgetary policies on liquidity and financial markets: International evidence from the credit freeze crisis," Journal of Banking & Finance, Elsevier, vol. 37(11), pages 4599-4614.
    11. Konstantinos N. Konstantakis & Panayotis G. Michaelides & Livia Chatzieleftheriou & Arsenios‐Georgios N. Prelorentzos, 2022. "Crisis and the Chinese miracle: A network—GVAR model," Bulletin of Economic Research, Wiley Blackwell, vol. 74(3), pages 900-921, July.
    12. Alloza, Mario & Burriel, Pablo & Pérez, Javier J., 2019. "Fiscal policies in the euro area: Revisiting the size of spillovers," Journal of Macroeconomics, Elsevier, vol. 61(C), pages 1-1.
    13. Huidan Xue & Chenguang Li & Liming Wang & Wen-Hao Su, 2021. "Spatial Price Transmission and Price Dynamics of Global Butter Export Market under Economic Shocks," Sustainability, MDPI, vol. 13(16), pages 1-24, August.
    14. Gadatsch, Niklas & Hauzenberger, Klemens & Stähler, Nikolai, 2016. "Fiscal policy during the crisis: A look on Germany and the Euro area with GEAR," Economic Modelling, Elsevier, vol. 52(PB), pages 997-1016.
    15. Priscila Espinosa & Daniel Aparicio-Pérez & José Manuel Pavía & Emili Tortosa-Ausina, 2023. "On the Impact of Next Generation EU Funds: A Regional Synthetic Control Method Approach," Working Papers 2023/07, Economics Department, Universitat Jaume I, Castellón (Spain).
    16. Litainas, Michail & McAdam, Peter & Montagnoli, Alberto & Mouratidis, Konstantinos, 2026. "News and surprises: Revisiting fiscal shocks in the open economy," Journal of International Money and Finance, Elsevier, vol. 161(C).
    17. Antoine Goujard, 2013. "Cross-Country Spillovers from Fiscal Consolidations," OECD Economics Department Working Papers 1099, OECD Publishing.
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