IDEAS home Printed from https://ideas.repec.org/f/c/ppa1181.html

Pascal Paul

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.

Wikipedia or ReplicationWiki mentions

(Only mentions on Wikipedia that link back to a page on a RePEc service)
  1. Pascal Paul, 2020. "The Time-Varying Effect of Monetary Policy on Asset Prices," The Review of Economics and Statistics, MIT Press, vol. 102(4), pages 690-704, October.

    Mentioned in:

    1. The Time-Varying Effect of Monetary Policy on Asset Prices (REStat 2020) in ReplicationWiki ()
  2. Martin Holm & Pascal Paul & Andreas Tischbirek, 2020. "The Transmission of Monetary Policy under the Microscope," Working Paper Series 2020-03, Federal Reserve Bank of San Francisco.

    Mentioned in:

    1. The Transmission of Monetary Policy under the Microscope (JPE 2021) in ReplicationWiki ()

Working papers

  1. Pascal Paul & Mauricio Ulate & Jing Cynthia Wu, 2025. "A Macroeconomic Model of Central Bank Digital Currency," Working Paper Series 2024-11, Federal Reserve Bank of San Francisco.

    Cited by:

    1. Abad, Jorge & Nuño, Galo & Thomas, Carlos, 2025. "CBDC and the operational framework of monetary policy," Journal of Monetary Economics, Elsevier, vol. 151(C).

  2. 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.

    Cited by:

    1. Marco Graziano & Marius Koechlin & Andreas Tischbirek, 2026. "The Spillovers of LSAPs on Banks in the Euro Area," CESifo Working Paper Series 12409, CESifo.
    2. Raymond Kim, 2024. "Hedging securities and Silicon Valley Bank idiosyncrasies," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 44(4), pages 653-672, April.
    3. Marcin Czaplicki, 2024. "Transmisja polityki pieniężnej poprzez kanał bilansowy banków. Przypadek Stanów Zjednoczonych," Bank i Kredyt, Narodowy Bank Polski, vol. 55(1), pages 21-54.
    4. Kagerer, Benedikt & Pancaro, Cosimo & Reghezza, Alessio & De Vito, Antonio, 2025. "Hidden weaknesses: the role of unrealized losses in monetary policy transmission," Working Paper Series 3129, European Central Bank.
    5. Mark M. Spiegel, 2025. "The Bank Lending Channel Is Back," Working Paper Series 2025-04, Federal Reserve Bank of San Francisco.
    6. Herb, Patrick & Kim, Raymond, 2025. "How do community banks access liquidity during funding stress events?," Finance Research Letters, Elsevier, vol. 80(C).
    7. Matteo Crosignani & Saketh Prazad, 2024. "Extend-and-Pretend in the U.S. CRE Market," Staff Reports 1130, Federal Reserve Bank of New York.
    8. Sajjad Zaheer & Muhammad Amin Khan Lodhi, 2025. "Monetary Policy and Banks’ Investment Portfolio," SBP Working Paper Series 119, State Bank of Pakistan, Research Department.

  3. Daniel L. Greenwald & John Krainer & Pascal Paul, 2020. "The Credit Line Channel," Working Paper Series 2020-26, Federal Reserve Bank of San Francisco.

    Cited by:

    1. Lopez, Jose A. & Spiegel, Mark M., 2023. "Small business lending under the PPP and PPPLF programs," Journal of Financial Intermediation, Elsevier, vol. 53(C).
    2. Alejandro Fernández-Cerezo & Beatriz González & Mario Izquierdo & Enrique Moral-Benito, 2021. "Firm-level heterogeneity in the impact of the COVID-19 pandemic," Working Papers 2120, Banco de España.
    3. Ricci, Lorenzo & Soggia, Giovanni & Trimarchi, Lorenzo, 2023. "The impact of bank lending standards on credit to firms," Journal of Banking & Finance, Elsevier, vol. 152(C).
    4. Andrea Bellucci & Alexander Borisov & Gianluca Gucciardi & Alberto Zazzaro, 2020. "The Reallocation Effects of COVID-19: Evidence from Venture Capital Investments around the World," Mo.Fi.R. Working Papers 167, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.
    5. Sigurd Galaasen & Rustam Jamilov & Hélène Rey & Ragnar Juelsrud, 2020. "Granular credit risk," Working Paper 2020/15, Norges Bank.
    6. Michelson, Noam, 2025. "Credit rationing during credit supply shock: Insights from loan level data," International Review of Economics & Finance, Elsevier, vol. 103(C).
    7. Altavilla, Carlo & Barbiero, Francesca & Boucinha, Miguel & Burlon, Lorenzo, 2020. "The great lockdown: pandemic response policies and bank lending conditions," Working Paper Series 2465, European Central Bank.
    8. Ferragina, Anna Maria & Iandolo, Stefano, 2022. "Reacting to the economic fallout of the COVID-19: Evidence on debt exposure and asset management of Italian firms," Economic Analysis and Policy, Elsevier, vol. 75(C), pages 530-547.
    9. Viral V. Acharya & Robert F. Engle III & Maximilian Jager & Sascha Steffen, 2021. "Why Did Bank Stocks Crash During COVID-19?," NBER Working Papers 28559, National Bureau of Economic Research, Inc.
    10. Bo Becker & Efraim Benmelech, 2021. "The Resilience of the U.S. Corporate Bond Market During Financial Crises," NBER Working Papers 28868, National Bureau of Economic Research, Inc.
    11. Pierre-Olivier Gourinchas & Ṣebnem Kalemli-Özcan & Veronika Penciakova & Nick Sander, 2020. "COVID-19 and SME Failures," FRB Atlanta Working Paper 2020-21, Federal Reserve Bank of Atlanta.
    12. Beck, Thorsten & Keil, Jan, 2022. "Have banks caught corona? Effects of COVID on lending in the U.S," Journal of Corporate Finance, Elsevier, vol. 72(C).
    13. Deimantė Teresienė & Greta Keliuotytė-Staniulėnienė & Rasa Kanapickienė, 2021. "Sustainable Economic Growth Support through Credit Transmission Channel and Financial Stability: In the Context of the COVID-19 Pandemic," Sustainability, MDPI, vol. 13(5), pages 1-34, March.
    14. Mauricio Calani & Paula Margaretic & David Moreno, 2024. "Navigating trade uncertainty: The role of trade financing and the spillover effects," Working Papers Central Bank of Chile 1027, Central Bank of Chile.
    15. Berger, Allen N. & Demirgüç-Kunt, Asli, 2021. "Banking research in the time of COVID-19," Journal of Financial Stability, Elsevier, vol. 57(C).
    16. Kyle Dempsey & Felicia Ionescu, 2021. "Lending Standards and Borrowing Premia in Unsecured Credit Markets," Finance and Economics Discussion Series 2021-039, Board of Governors of the Federal Reserve System (U.S.).
    17. Calani, Mauricio & Margaretic, Paula & Moreno, David, 2025. "Navigating trade uncertainty: The role of trade financing and the spillover effects," Journal of International Economics, Elsevier, vol. 153(C).
    18. Coussin, Maximilien, 2025. "The multifaceted effect of monetary policy on U.S. credit aggregates," Journal of Macroeconomics, Elsevier, vol. 84(C).
    19. Lei Li & Philip Strahan, 2020. "Who Supplies PPP Loans (And Does it Matter)? Banks, Relationships and the COVID Crisis," NBER Working Papers 28286, National Bureau of Economic Research, Inc.
    20. Altavilla, Carlo & Ellul, Andrew & Pagano, Marco & Polo, Andrea & Vlassopoulos, Thomas, 2025. "Loan guarantees, bank lending and credit risk reallocation," Journal of Financial Economics, Elsevier, vol. 172(C).
    21. Dautović, Ernest & Gambacorta, Leonardo & Reghezza, Alessio, 2023. "Supervisory policy stimulus: evidence from the euro area dividend recommendation," Working Paper Series 2796, European Central Bank.
    22. Cappelletti, Giuseppe & Mistrulli, Paolo Emilio, 2023. "The role of credit lines and multiple lending in financial contagion and systemic events," Journal of Financial Stability, Elsevier, vol. 67(C).
    23. Kagerer, Benedikt & Pancaro, Cosimo & Reghezza, Alessio & De Vito, Antonio, 2025. "Hidden weaknesses: the role of unrealized losses in monetary policy transmission," Working Paper Series 3129, European Central Bank.
    24. Lim, Hyunjoon, 2025. "Do firm and lender characteristics matter in monetary policy transmission? Evidence from Korean loan-level data," Economic Analysis and Policy, Elsevier, vol. 87(C), pages 256-268.
    25. Maria Semenova & Polina Popova, 2023. "Time to Extend Credit? Bank Credit Lines During the COVID-19 Pandemic in Russia," Russian Journal of Money and Finance, Bank of Russia, vol. 82(2), pages 106-119, June.
    26. Tran, Dung Viet & Nguyen, Cuong, 2023. "Policy uncertainty and bank’s funding costs: The effects of the financial crisis, Covid-19 pandemic, and market discipline," Research in International Business and Finance, Elsevier, vol. 65(C).
    27. Chodorow-Reich, Gabriel & Darmouni, Olivier & Luck, Stephan & Plosser, Matthew, 2022. "Bank liquidity provision across the firm size distribution," Journal of Financial Economics, Elsevier, vol. 144(3), pages 908-932.
    28. Pierre-Olivier Gourinchas & Ṣebnem Kalemli-Özcan & Veronika Penciakova & Nick Sander, 2020. "SME Failures Under Large Liquidity Shocks: An Application to the COVID-19 Crisis," NBER Working Papers 27877, National Bureau of Economic Research, Inc.

  4. Pascal Paul, 2020. "Historical Patterns of Inequality and Productivity around Financial Crises," Working Paper Series 2017-23, Federal Reserve Bank of San Francisco.

    Cited by:

    1. Georgescu, Oana-Maria & Martín, Diego Vila, 2021. "Do macroprudential measures increase inequality? Evidence from the euro area household survey," Working Paper Series 2567, European Central Bank.
    2. Meredith M. Paker, 2025. "Review of periodical literature for 2023: (vi) 1945 to present," Economic History Review, Economic History Society, vol. 78(1), pages 387-397, February.
    3. Kiley, Michael T., 2021. "What macroeconomic conditions lead financial crises?," Journal of International Money and Finance, Elsevier, vol. 111(C).
    4. Mehmet Balcilar & Edmond Berisha & Rangan Gupta & Christian Pierdzioch, 2020. "Time-Varying Evidence of Predictability of Financial Stress in the United States over a Century: The Role of Inequality," Working Papers 202054, University of Pretoria, Department of Economics.
    5. Josef Schroth, 2021. "On the Distributional Effects of Bank Bailouts," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 40, pages 252-277, April.
    6. Salvatore Morelli, 2018. "Banking crises in the US: the response of top income shares in a historical perspective," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 16(2), pages 257-294, June.
    7. Paul, Pascal, 2020. "A macroeconomic model with occasional financial crises," Journal of Economic Dynamics and Control, Elsevier, vol. 112(C).
    8. Ghouse, Ghulam & Iqbal, Mubasher, 2024. "Resource extraction, FinTech, and social equal access: A quantitative analysis of resource-rich countries," Resources Policy, Elsevier, vol. 99(C).
    9. Isabel Cairó & Jae W. Sim, 2018. "Income Inequality, Financial Crises, and Monetary Policy," Finance and Economics Discussion Series 2018-048, Board of Governors of the Federal Reserve System (U.S.).
    10. Coccia, Samantha & Gallegati, Mauro & Russo, Alberto, 2025. "Macroprudential and monetary policies to deal with inequality," Structural Change and Economic Dynamics, Elsevier, vol. 75(C), pages 895-912.
    11. Pascal Paul, 2020. "The Time-Varying Effect of Monetary Policy on Asset Prices," The Review of Economics and Statistics, MIT Press, vol. 102(4), pages 690-704, October.

  5. Pascal Paul, 2020. "Banks, Maturity Transformation, and Monetary Policy," Working Paper Series 2020-07, Federal Reserve Bank of San Francisco.

    Cited by:

    1. Camelia Minoiu & Andrés Schneider & Min Wei, 2025. "Why Does the Yield Curve Predict GDP Growth? The Role of Banks," FRB Atlanta Working Paper 2025-5, Federal Reserve Bank of Atlanta.
    2. Uluc Aysun & Zeynep Yom, 2025. "Technology creation, business cycles and monetary transmission," Villanova School of Business Department of Economics and Statistics Working Paper Series 61, Villanova School of Business Department of Economics and Statistics.
    3. Uluc Aysun, 2025. "Maturity mismatches and the transmission of term premium shocks through bank lending," Working Papers 2025-01, University of Central Florida, Department of Economics.
    4. Fatih Altunok & Yavuz Arslan & Steven Ongena, 2023. "Monetary Policy Transmission with Adjustable and Fixed Rate Mortgages: The Role of Credit Supply," Working Papers 202305, University of Liverpool, Department of Economics.
    5. Ufuk Akcigit & Raman S. Chhina & Seyit Cilasun & Javier Miranda & Nicolas Serrano-Velarde, 2025. "Credit Card Entrepreneurs," Jena Economics Research Papers 2025-003, Friedrich-Schiller-University Jena.
    6. Michelangeli, Valentina & Piersanti, Fabio Massimo, 2023. "Interdependence between assets and liabilities in the banking system: Changes in the last two decades," Finance Research Letters, Elsevier, vol. 58(PA).
    7. Paolo Varraso, 2025. "Banks’ Maturity Choices and the Transmission of Interest-Rate Risk," CEIS Research Paper 616, Tor Vergata University, CEIS, revised 11 Oct 2025.
    8. Peter DeMarzo & Arvind Krishnamurthy & Stefan Nagel, 2024. "Interest Rate Risk in Banking," CESifo Working Paper Series 11581, CESifo.
    9. Uluc Aysun & Sewon Hur & Zeynep Yom, 2025. "Technology creation and monetary transmission," Working Papers 2025-02, University of Central Florida, Department of Economics.

  6. Martin Holm & Pascal Paul & Andreas Tischbirek, 2020. "The Transmission of Monetary Policy under the Microscope," Working Paper Series 2020-03, Federal Reserve Bank of San Francisco.

    Cited by:

    1. Broer, Tobias & Kramer, John & Mitman, Kurt, 2025. "The Distributional Effects of Oil Shocks," IZA Discussion Papers 17949, IZA Network @ LISER.
    2. Marco Graziano & Marius Koechlin & Andreas Tischbirek, 2026. "The Spillovers of LSAPs on Banks in the Euro Area," CESifo Working Paper Series 12409, CESifo.
    3. Steininger, Lea & Fritsche, Jan P., 2025. "Monetary policy and the functional income distribution: Two million firms’ production dynamics," European Economic Review, Elsevier, vol. 178(C).
    4. Kasper Kragh Balke & Markus Karlman & Karin Kinnerud, 2024. "Winners and Losers from Property Taxation," Working Papers 04/2024, Centre for Household Finance and Macroeconomic Research (HOFIMAR), BI Norwegian Business School.
    5. Andersson, Fredrik N. G. & Kilman, Josefin, 2021. "A Study of the Romer and Romer Monetary Policy Shocks Using Revised Data," Working Papers 2021:19, Lund University, Department of Economics.
    6. Michele Lenza & Jiri Slacalek, 2024. "How does monetary policy affect income and wealth inequality? Evidence from quantitative easing in the euro area," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 39(5), pages 746-765, August.
    7. Asger Lau Andersen & Niels Johannesen & Mia Jørgensen & José-Luis Peydró, 2022. "Monetary Policy and Inequality," CEBI working paper series 22-09, University of Copenhagen. Department of Economics. The Center for Economic Behavior and Inequality (CEBI).
    8. José-Elías Gallegos, 2024. "HANK beyond FIRE: Amplification, forward guidance, and belief shocks," Working Papers 2418, Banco de España.
    9. Minsu Chang & Frank Schorfheide, 2024. "On the Effects of Monetary Policy Shocks on Income and Consumption Heterogeneity," PIER Working Paper Archive 24-003, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
    10. Macaulay, Alistair, 2021. "The attention trap: Rational inattention, inequality, and fiscal policy," European Economic Review, Elsevier, vol. 135(C).
    11. Andreas Fagereng & Magnus A. H. Gulbrandsen & Martin B. Holm & Gisle J. Natvik, 2021. "How does monetary policy affect household indebtedness?," Working Paper 2021/5, Norges Bank.
    12. Mäki-Fränti, Petri & Silvo, Aino & Gulan, Adam & Kilponen, Juha, 2022. "Monetary policy and inequality: The Finnish case," Bank of Finland Research Discussion Papers 3/2022, Bank of Finland.
    13. Jan Philipp Fritsche & Lea Steininger, 2021. "Zooming in on Monetary Policy - The Labor Share and Production Dynamics of Two Million Firms," Discussion Papers of DIW Berlin 1967, DIW Berlin, German Institute for Economic Research.
    14. Lukas Hack & Klodiana Istrefi & Matthias Meier, 2025. "The Systematic Origins of Monetary Policy Shocks," Working papers 1021, Banque de France.
    15. Damien Nicholas Parker & Willi Semmler, 2024. "Monetary Policy and the Evolution of Wealth Disparity: An Assessment Using US Survey of Consumer Finance Data," Computational Economics, Springer;Society for Computational Economics, vol. 64(6), pages 3509-3541, December.
    16. Bence Bardóczy & Jae W. Sim & Andreas Tischbirek, 2024. "The Macroeconomic Effects of Excess Savings," Finance and Economics Discussion Series 2024-062, Board of Governors of the Federal Reserve System (U.S.).
    17. Martin Brown & Daniel Hoechle & Lizet Alejandra Perez Cortes & Markus Schmid, 2025. "Monetary Policy Wealth Effects: Evidence from the 2015 Swiss Franc Shock," Working Papers 25.06, Swiss National Bank, Study Center Gerzensee.
    18. Jannik Hensel & Giacomo Mangiante & Luca Moretti, 2023. "Carbon Pricing and Inflation Expectations: Evidence from France," CESifo Working Paper Series 10552, CESifo.
    19. Yugang He & Zhuoqi Teng, 2024. "Navigating Uncharted Waters: The Transformation of the Bank of Korea’s Monetary Policy in Response to Global Economic Uncertainty," Mathematics, MDPI, vol. 12(11), pages 1-24, May.
    20. Ha, Jongrim & Kim, Dohan & Kose, M. Ayhan & Prasad, Eswar S., 2025. "Resolving puzzles of monetary policy transmission in emerging markets," European Economic Review, Elsevier, vol. 173(C).
    21. Tomas Key & Jamie Lenney, 2024. "The impact of aggregate fluctuations across the UK income distribution," Bank of England working papers 1083, Bank of England.
    22. Li, Chang & Li, Wei & Shao, Yuhui, 2025. "Global monetary policy shocks and the adaptation of supply chains," China Economic Review, Elsevier, vol. 94(PB).
    23. R. Anton Braun & Daisuke Ikeda, 2021. "Monetary Policy over the Life Cycle," FRB Atlanta Working Paper 2021-20a, Federal Reserve Bank of Atlanta.
    24. Oh, Joonseok & Rogantini Picco, Anna, 2024. "Macro uncertainty, unemployment risk, and consumption dynamics," Working Paper Series 2971, European Central Bank.
    25. Afonso S. Moura & Gergely Buda & Vasco M. Carvalho & Giancarlo Corsetti & João B. Duarte & Stephen Hansen & Álvaro Ortiz & Tomasa Rodrigo & José V. Rodríguez Mora & Guilherme Alves da Silva, 2025. "The Short Lags of Monetary Policy," Working Papers w202501, Banco de Portugal, Economics and Research Department.
    26. Broer, Tobias & Kramer, John & Mitman, Kurt, 2022. "The Curious Incidence of Monetary Policy Across the Income Distribution," Working Paper Series 416, Sveriges Riksbank (Central Bank of Sweden).
    27. Samuel Ligonnière & Salima Ouerk, 2024. "The unequal distribution of credit: Is there any role for monetary policy?," Working Papers of BETA 2024-19, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    28. Bobasu, Alina & Repele, Amalia, 2025. "Effects of monetary policy on labor income: the role of the employer," Working Paper Series 3046, European Central Bank.
    29. Mujtaba Zia & Jennifer Logan, 2021. "Bank Revolving Credit as a Channel of Monetary Policy," The Review of Finance and Banking, Academia de Studii Economice din Bucuresti, Romania / Facultatea de Finante, Asigurari, Banci si Burse de Valori / Catedra de Finante, vol. 13(2), pages 147-160, December.
    30. Fritsche, Jan Philipp & Steininger, Lea, 2022. "The Labor Share is a Catalyst for Monetary Policy - Two Million Firms' Production Dynamics," Department of Economics Working Paper Series 326, WU Vienna University of Economics and Business.
    31. Bilbiie, F. O. & Galaasen, S. M. & Gurkaynak, R. S. & Maehlum, M. & Molnar, K, 2025. "Hanksson," Cambridge Working Papers in Economics 2516, Faculty of Economics, University of Cambridge.
    32. Leonardo N. Ferreira, 2020. "Forward Guidance Matters: Disentangling Monetary Policy Shocks," Working Papers 912, Queen Mary University of London, School of Economics and Finance.
    33. Tomas Key & Jamie Lenney, 2024. "The Impact of Aggregate Fluctuations Across the UK Income Distribution," Discussion Papers 2430, Centre for Macroeconomics (CFM).
    34. Yoosoon Chang & Soyoung Kim & Joon Park, 2025. "How Do Macroaggregates and Income Distribution Interact Dynamically? A Novel Structural Mixed Autoregression with Aggregate and Functional Variables," CAEPR Working Papers 2025-002 Classification- , Center for Applied Economics and Policy Research, Department of Economics, Indiana University Bloomington.
    35. Boge, Kevin Patrick & Rieth, Malte & Kholodilin, Konstantin, 2024. "The unequal impacts of monetary policies on regional housing markets," VfS Annual Conference 2024 (Berlin): Upcoming Labor Market Challenges 302370, Verein für Socialpolitik / German Economic Association.
    36. Majeed, Omer & Hambur, Jonathan & Breunig, Robert, 2025. "Does monetary policy impact innovation? Evidence from Australian Administrative Data," Journal of Macroeconomics, Elsevier, vol. 86(C).
    37. Lee, Seungcheol & Luetticke, Ralph & Ravn, Morten O., 2021. "Financial frictions: micro vs macro volatility," Working Paper Series 2622, European Central Bank.
    38. Christian Moser & Farzad Saidi & Benjamin Wirth & Stefanie Wolter, 2021. "Credit Supply, Firms, and Earnings Inequality," ECONtribute Discussion Papers Series 086, University of Bonn and University of Cologne, Germany.
    39. Ciftci, Muhsin & Wieland, Elisabeth, 2025. "Underlying inflation measures for Germany," Technical Papers 04/2025, Deutsche Bundesbank.
    40. Gulyas, Andreas & Meier, Matthias & Ryzhenkov, Mykola, 2024. "Labor market effects of monetary policy across workers and firms," European Economic Review, Elsevier, vol. 166(C).
    41. Sangyup Choi & Tim Willems & Seung Yong Yoo, 2023. "Revisiting the Monetary Transmission Mechanism through an Industry-Level Differential Approach," Working papers 2023rwp-215, Yonsei University, Yonsei Economics Research Institute.
    42. Ferrando, Annalisa & Mulier, Klaas & Ongena, Steven & Delis, Manthos, 2025. "The poor, the rich, and the credit channel of monetary policy," Working Paper Series 3058, European Central Bank.
    43. Priya, Pragati & Sharma, Chandan, 2025. "The uncertainty-driven channel of monetary transmission on household consumption: the role of households’ balance sheet positions," International Review of Economics & Finance, Elsevier, vol. 103(C).
    44. Marco Bellifemine & Adrien Couturier & Rustam Jamilov, 2022. "The Regional Keynesian Cross," Economics Series Working Papers 995, University of Oxford, Department of Economics.
    45. Saroj Bhattarai & Arpita Chatterjee & Gautham Udupa, 2025. "Food, Fuel, and Facts: Distributional Effects of Global Price Shocks," International Finance Discussion Papers 1414, Board of Governors of the Federal Reserve System (U.S.).
    46. Dominic Cucic & Denis Gorea, 2024. "Non-bank lending and the transmission of monetary policy," BIS Working Papers 1211, Bank for International Settlements.
    47. Priya, Pragati & Sharma, Chandan, 2024. "On transmission channels of energy prices and monetary policy shocks to household consumption: Evidence from India," Energy Economics, Elsevier, vol. 136(C).
    48. Martin Iseringhausen, 2024. "The housing supply channel of monetary policy," Working Papers 59, European Stability Mechanism, revised 05 Feb 2024.
    49. Marco Del Negro & Ibrahima Diagne & Keshav Dogra & Pranay Gundam & Donggyu Lee & Brian Pacula, 2025. "Tradeoffs for the Poor, Divine Coincidence for the Rich," Staff Reports 1147, Federal Reserve Bank of New York.
    50. Itamar Caspi & Nadav Eshel & Nimrod Segev, 2024. "The Mortgage Cash-Flow Channel: How Rising Interest Rates Impact Household Consumption," Bank of Israel Working Papers 2024.13, Bank of Israel.
    51. Cristiano Cantore & Filippo Ferroni & Hroon Mumtaz & Angeliki Theophilopoulou, 2022. "A tail of labour supply and a tale of monetary policy," Bank of England working papers 989, Bank of England.
    52. Gergely Buda & Vasco M. Carvalho & Giancarlo Corsetti & João Duarte & Stephen Hansen & Afonso Pereira da Silva & Alvaro Ortiz & Tomasa Rodrigo & Guilherme Alves da Silva & José V. Rodríguez Mora, 2025. "España | Los cortos retardos de la política monetaria [Spain | The Short Lags of Monetary Policy]," Working Papers 25/02, BBVA Bank, Economic Research Department.
    53. Cloyne, James S. & Hürtgen, Patrick & Taylor, Alan M., 2022. "Global monetary and financial spillovers: Evidence from a new measure of Bundesbank policy shocks," Discussion Papers 34/2022, Deutsche Bundesbank.
    54. Mahbuba Aktar & Makram El-Shagi & Florian Gerth, 2026. "Regional Effects on the Interaction Between Financial Inclusion and Monetary Policy A High Frequency Approach for China," CFDS Discussion Paper Series 2026/4, Center for Financial Development and Stability at Henan University, Kaifeng, Henan, China.
    55. Marco Bellifemine & Adrien Couturier & Rustam Jamilov, 2023. "The Regional Keynesian Cross," Discussion Papers 2311, Centre for Macroeconomics (CFM).
    56. Arin, K. Peren & Kaplan, Samuel & Polyzos, Efstathios & Spagnolo, Nicola, 2025. "Stock market responses to monetary policy shocks: Firm-level evidence," Journal of Macroeconomics, Elsevier, vol. 83(C).
    57. Paul Hubert & Frédérique Savignac, 2023. "Monetary Policy and Labor Income Inequality: the Role of Extensive and Intensive Margins," Working papers 913, Banque de France.
    58. Christian Bayer & Luis Calderon & Moritz Kuhn, 2025. "Distributional Dynamics," CRC TR 224 Discussion Paper Series crctr224_2025_625, University of Bonn and University of Mannheim, Germany.
    59. Jaanika Meriküll & Matthias Rottner, 2025. "Monetary policy and earnings inequality: inflation dependencies," BIS Working Papers 1271, Bank for International Settlements.
    60. Kilman, Josefin, 2022. "Monetary Policy Shocks for Sweden," Working Papers 2022:18, Lund University, Department of Economics.
    61. Steininger, Lea & Matzner, Anna, 2025. "Monetary policy and the firm-level labor share: a story about capital," Working Paper Series 3024, European Central Bank.
    62. Okan Akarsu & Emrehan Aktug & Muserref Kucukbayrak, 2025. "Hand-to-Mouth Households in the Eurosystem and the Transmission of Monetary Policy," Working Papers 2506, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    63. Tomás Opazo, 2023. "The Heterogeneous Effect of Monetary Policy Shocks: Evidence for US Households," Working Papers Central Bank of Chile 992, Central Bank of Chile.
    64. Oliver Pfäuti & Fabian Seyrich, 2022. "A Behavioral Heterogeneous Agent New Keynesian Model," Discussion Papers of DIW Berlin 1995, DIW Berlin, German Institute for Economic Research.
    65. Gary Koop & Stuart McIntyre & James Mitchell & Ping Wu, 2026. "Incorporating Micro Data into Macro Models Using Pseudo VARs," Working Papers 26-04, Federal Reserve Bank of Cleveland.
    66. Cumming, Fergus, 2022. "Mortgage cash-flows and employment," European Economic Review, Elsevier, vol. 144(C).
    67. Noam Ben-Ze’ev & Sigal Ribon & Roy Stein, 2024. "Monetary Policy and the Mutual Fund Market: Funding and Liquidity," Bank of Israel Working Papers 2024.11, Bank of Israel.
    68. Matzner, Anna & Steininger, Lea, 2024. "Firms’ heterogeneous (and unintended) investment response to carbon price increases," Working Paper Series 2958, European Central Bank.
    69. Renzhi, Nuobu, 2023. "Household net saving positions and unconventional monetary policy transmission: Evidence from Japan," Pacific-Basin Finance Journal, Elsevier, vol. 79(C).
    70. Caldara, Dario & Ferrante, Francesco & Iacoviello, Matteo & Prestipino, Andrea & Queralto, Albert, 2024. "The international spillovers of synchronous monetary tightening," Journal of Monetary Economics, Elsevier, vol. 141(C), pages 127-152.
    71. Bertrand Garbinti & Pierre Lamarche & Frédérique Savignac, 2024. "Wealth Heterogeneity and the Marginal Propensity to Consume out of Wealth," Working papers 962, Banque de France.
    72. BBVA Research, 2025. "España | Los breves desfases de la Política Monetaria [Spain | The Short Lags of Monetary Policy]," Working Papers 25/08, BBVA Bank, Economic Research Department.
    73. Jiang, Chun & Qiu, Yihan & Li, Xiao-Lin & Si, Deng-Kui, 2024. "Does stock market liberalization promote entrepreneurship?," Economic Analysis and Policy, Elsevier, vol. 83(C), pages 480-495.
    74. Groiss, Martin, 2024. "Equalizing Monetary Policy - the Earnings Heterogeneity Channel in Action," VfS Annual Conference 2024 (Berlin): Upcoming Labor Market Challenges 302346, Verein für Socialpolitik / German Economic Association.
    75. Elton Beqiraj & Stefano Di Bucchianico & Mario Di Serio & Michele Raitano, 2026. "The effects of monetary policy shocks on wage inequality: evidence from Italy," Working Papers in Public Economics 270, Department of Economics and Law, Sapienza University of Rome.
    76. Edilean Kleber da Silva Bejarano Aragon & Gabriela Bezerra de Medeiros & Igor Mendes & Ludyson Abreu, 2026. "Measuring monetary policy shocks and their effects in an emerging economy: the case of Brazil," Empirical Economics, Springer, vol. 70(3), pages 1-27, March.

  7. Pascal Paul, 2019. "A Macroeconomic Model with Occasional Financial Crises," Working Paper Series 2017-22, Federal Reserve Bank of San Francisco.

    Cited by:

    1. Daisuke Ikeda & Hidehiko Matsumoto, 2021. "Procyclical Leverage and Crisis Probability in a Macroeconomic Model of Bank Runs," IMES Discussion Paper Series 21-E-01, Institute for Monetary and Economic Studies, Bank of Japan.
    2. F. Boissay & F. Collard & Jordi Galí & C. Manea, 2021. "Monetary policy and endogenous financial crises," Economics Working Papers 1810, Department of Economics and Business, Universitat Pompeu Fabra, revised Aug 2025.
    3. Jungherr, Joachim & Schott, Immo, 2022. "Slow Debt, Deep Recessions," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 14(1), pages 224-259.
    4. Miguel Faria-e-Castro, 2019. "A Quantitative Analysis of Countercyclical Capital Buffers," Working Papers 2019-008, Federal Reserve Bank of St. Louis, revised 01 Jan 2020.
    5. Kirstin Hubrich & Daniel F. Waggoner, 2022. "The Transmission of Financial Shocks and Leverage of Financial Institutions: An Endogenous Regime-Switching Framework," FRB Atlanta Working Paper 2022-5, Federal Reserve Bank of Atlanta.
    6. Rottner, Matthias, 2023. "Financial crises and shadow banks: A quantitative analysis," Journal of Monetary Economics, Elsevier, vol. 139(C), pages 74-92.
    7. Pascal Paul, 2023. "Historical Patterns of Inequality and Productivity around Financial Crises," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(7), pages 1641-1665, October.
    8. Klymenko, Nataliia & Voronenko, Iryna & Nehrey, Maryna & Rogoza, Konstyantyn & Rogoza, Nataliy, . "Risk assessment of shock periods and investment attractiveness of agroholdings of Ukraine," Agricultural and Resource Economics: International Scientific E-Journal, Agricultural and Resource Economics: International Scientific E-Journal, vol. 9(2).
    9. Bo Liu & Lei Lu & Congming Mu & Jinqiang Yang, 2021. "Heterogeneous preferences, investment, and asset pricing," Financial Management, Financial Management Association International, vol. 50(4), pages 1169-1193, December.
    10. Poeschl, Johannes & Zhang, Xue, 2018. "Bank Capital Regulation and Endogenous Shadow Banking Crises," MPRA Paper 92529, University Library of Munich, Germany.
    11. Huang, Yu-Fan & Liao, Wenting & Luo, Sui & Ma, Jun, 2024. "Financial conditions, macroeconomic uncertainty, and macroeconomic tail risks," Journal of Economic Dynamics and Control, Elsevier, vol. 163(C).
    12. Pascal Paul, 2019. "Modeling Financial Crises," FRBSF Economic Letter, Federal Reserve Bank of San Francisco.
    13. Schroth, Josef, 2021. "Macroprudential policy with capital buffers," Journal of Monetary Economics, Elsevier, vol. 118(C), pages 296-311.
    14. Mikkelsen, Jakob & Poeschl, Johannes, 2019. "Banking Panic Risk and Macroeconomic Uncertainty," MPRA Paper 94729, University Library of Munich, Germany.
    15. Reiter, Michael & Zessner-Spitzenberg, Leopold, 2023. "Long-term bank lending and the transfer of aggregate risk," Journal of Economic Dynamics and Control, Elsevier, vol. 151(C).
    16. Pascal Paul, 2018. "Historical Patterns of Inequality and Productivity around Financial Crises," 2018 Meeting Papers 583, Society for Economic Dynamics.
    17. Vladimir Asriyan & Priit Jeenas & Alberto Martin, 2026. "Frost and fire: A tale of two crises," Economics Working Papers 1941, Department of Economics and Business, Universitat Pompeu Fabra.

  8. Pascal Paul, 2019. "The Time-Varying Effect of Monetary Policy on Asset Prices," Working Paper Series 2017-09, Federal Reserve Bank of San Francisco.

    Cited by:

    1. Andreas Neuhierl & Michael Weber, 2020. "Monetary Momentum," Working Papers 2020-39, Becker Friedman Institute for Research In Economics.
    2. Boeck, Maximilian & Mori, Lorenzo, 2025. "Has globalization changed the international transmission of U.S. monetary policy?," Journal of International Economics, Elsevier, vol. 157(C).
    3. Laine, Olli-Matti, 2022. "Evidence about the transmission of monetary policy," Bank of Finland Scientific Monographs, Bank of Finland, volume 0, number e53, December.
    4. Rafiq, Shuddhasattwa, 2022. "How did house and stock prices respond to different crisis episodes since the 1870s?," Economic Modelling, Elsevier, vol. 114(C).
    5. Ricardo Nunes & Ali Ozdagli & Jenny Tang, 2022. "Interest Rate Surprises: A Tale of Two Shocks," Working Papers 2213, Federal Reserve Bank of Dallas.
    6. Karamysheva, Madina, 2022. "How do fiscal adjustments work? An empirical investigation," Journal of Economic Dynamics and Control, Elsevier, vol. 137(C).
    7. Piergiorgio Alessandri & Andrea Gazzani & Alejandro Vicondoa, 2021. "The Real Effects of Financial Uncertainty Shocks: A Daily Identification Approach," Documentos de Trabajo 559, Instituto de Economia. Pontificia Universidad Católica de Chile..
    8. Nina Boyarchenko & Giovanni Favara & Moritz Schularick, 2022. "Financial Stability Considerations for Monetary Policy: Empirical Evidence and Challenges," Finance and Economics Discussion Series 2022-006, Board of Governors of the Federal Reserve System (U.S.).
    9. Plakandaras, Vasilios & Gupta, Rangan & Balcilar, Mehmet & Ji, Qiang, 2022. "Evolving United States stock market volatility: The role of conventional and unconventional monetary policies," The North American Journal of Economics and Finance, Elsevier, vol. 60(C).
    10. Wang, Cindy S.H. & Fan, Rui & Xie, Yiqiang, 2023. "Market systemic risk, predictability and macroeconomics news," Finance Research Letters, Elsevier, vol. 56(C).
    11. Huang, Yuzhe & Jin, Long & Pan, Changchun, 2025. "Can monetary policy tame asset price fluctuations? Evaluating the dynamic trade-offs," Economic Modelling, Elsevier, vol. 151(C).
    12. Jiang, Meihua & Huang, Yuzhe, 2023. "Is forward guidance an effective policy: A time-varying analysis," Finance Research Letters, Elsevier, vol. 58(PB).
    13. Arefeva, Alina & Arefyev, Nikolay, 2025. "Playing by the Taylor rules or sticking to Friedman’s policy: A new approach to monetary policy identification," Economic Modelling, Elsevier, vol. 143(C).
    14. Zhenzhong Fan & Xing Chen, 2024. "The Impact of Unconventional Monetary Policy on China’s Economic and Financial Cycle: Application of a Structural Vector Autoregression Model Based on High-Frequency Data," Mathematics, MDPI, vol. 12(13), pages 1-25, June.
    15. Florian Huber & Gary Koop & Michael Pfarrhofer, 2020. "Bayesian Inference in High-Dimensional Time-varying Parameter Models using Integrated Rotated Gaussian Approximations," Papers 2002.10274, arXiv.org.
    16. Ehrmann, Michael & Gnan, Phillipp & Rieder, Kilian, 2023. "Central bank communication by ??? The economics of public policy leaks," Working Paper Series 2846, European Central Bank.
    17. Alsalman, Zeina & Herrera, Ana María & Rangaraju, Sandeep Kumar, 2023. "Oil news shocks and the U.S. stock market," Energy Economics, Elsevier, vol. 126(C).
    18. Alina K. Bartscher & Moritz Kuhn & Moritz Schularick & Paul Wachtel, 2021. "Monetary Policy and Racial Inequality," Opportunity and Inclusive Growth Institute Working Papers 45, Federal Reserve Bank of Minneapolis.
    19. Knut Are Aastveit & Bruno Albuquerque & Andr Anundsen, 2019. "Changing supply elasticities and regional housing booms," Working Papers No 04/2019, Centre for Applied Macro- and Petroleum economics (CAMP), BI Norwegian Business School.
    20. Yang, Yang & Zhang, Jiqiang, 2021. "Effects of monetary policy on the exchange rates: A Time-varying analysis," Finance Research Letters, Elsevier, vol. 43(C).
    21. Germano Ruisi, 2019. "Time-Varying Local Projections," Working Papers 891, Queen Mary University of London, School of Economics and Finance.
    22. Klieber, Karin & Coulombe, Philippe Goulet, 2025. "Opening the black box of local projections," Working Paper Series 3105, European Central Bank.
    23. Breitenlechner, Max & Scharler, Johann, 2021. "Monetary policy announcements and bank lending: Do banks’ refinancing markets matter?," Economic Modelling, Elsevier, vol. 102(C).
    24. Hodula Martin & Pfeifer Lukáš, 2018. "Fiscal-Monetary-Financial Stability Interactions in a Data-Rich Environment," Review of Economic Perspectives, Sciendo, vol. 18(3), pages 195-224, September.
    25. Anwar, Cep Jandi, 2021. "Heterogeneity Effect of Central Bank Independence on Asset Prices: Evidence from Selected Developing Countries," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 55(2), pages 65-80.
    26. Herwartz, Helmut & Roestel, Jan, 2022. "Asset prices, financial amplification and monetary policy: Structural evidence from an identified multivariate GARCH model," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 78(C).
    27. Hoshino, Satoshi & Ida, Daisuke, 2025. "Stock prices and monetary policy: Analysis of a Bayesian DSGE model," Economic Modelling, Elsevier, vol. 148(C).
    28. Pfarrhofer, Michael, 2022. "Modeling tail risks of inflation using unobserved component quantile regressions," Journal of Economic Dynamics and Control, Elsevier, vol. 143(C).
    29. Giacomo Rella, 2021. "The Fed, housing and household debt over time," Department of Economics University of Siena 850, Department of Economics, University of Siena.
    30. Christiane Baumeister & James D. Hamilton, 2020. "Advances in Using Vector Autoregressions to Estimate Structural Magnitudes," NBER Working Papers 27014, National Bureau of Economic Research, Inc.
    31. Ricco, Giovanni & ,, 2019. "Identification with External Instruments in Structural VARs under Partial Invertibility," CEPR Discussion Papers 13853, C.E.P.R. Discussion Papers.
    32. Keun Yeong Lee, 2023. "The synchronization between Korea's and Japan's business cycles," Asian Economic Journal, East Asian Economic Association, vol. 37(4), pages 435-465, December.
    33. Yun Liu, 2022. "Housing and monetary policy: Fresh evidence from China," Financial Economics Letters, Anser Press, vol. 1(1), pages 1-12, December.
    34. Leonardo Nogueira Ferreira, 2023. "Monetary Policy Surprises, Financial Conditions, and the String Theory Revisited," Working Papers Series 573, Central Bank of Brazil, Research Department.
    35. Kurov, Alexander & Olson, Eric & Zaynutdinova, Gulnara R., 2022. "When does the fed care about stock prices?," Journal of Banking & Finance, Elsevier, vol. 142(C).
    36. Victoria Bannikova, 2024. "Estimation of Multidimensionality of Monetary Policy Using High-Frequency Data," Russian Journal of Money and Finance, Bank of Russia, vol. 83(4), pages 3-26, December.
    37. Juvenal, Luciana & Petrella, Ivan, 2024. "Unveiling the dance of commodity prices and the global financial cycle," Journal of International Economics, Elsevier, vol. 150(C).
    38. Marcin Pietrzak, 2023. "What can monetary policy tell us about Bitcoin?," Annals of Finance, Springer, vol. 19(4), pages 545-559, December.
    39. Ferrari Minesso, Massimo & Gräb, Johannes, 2022. "E pluribus plures: shock dependency of the USD pass-through to real and financial variables," Working Paper Series 2684, European Central Bank.
    40. Ho, Paul & Lubik, Thomas A. & Matthes, Christian, 2024. "Averaging impulse responses using prediction pools," Journal of Monetary Economics, Elsevier, vol. 146(C).
    41. Sungbae An & Hyosang Kim & Seung-Hyun Kim & Da Young Yang & Jinhee Lee & Ko Un Cho & Wongi Kim & Jinill Kim, 2021. "포스트 코로나 시대 주요국의 통화·재정정책 방향과 시사점(hanges, Challenges and Implications of Fiscal and Monetary Policy Directions in the Post Pandemic Era)," Policy Analyses 21-15, Korea Institute for International Economic Policy.
    42. Andrejs Zlobins, 2024. "On the time-varying effects of the ECB’s asset purchases," Empirical Economics, Springer, vol. 66(6), pages 2593-2623, June.
    43. Andrea Gazzani & Fabrizio Venditti & Giovanni Veronese, 2024. "Oil price shocks in real time," Temi di discussione (Economic working papers) 1448, Bank of Italy, Economic Research and International Relations Area.
    44. Danilo Leiva-Leon & Luis Uzeda, 2023. "Endogenous Time Variation in Vector Autoregressions," The Review of Economics and Statistics, MIT Press, vol. 105(1), pages 125-142, January.
    45. Pan, Changchun & Huang, Yuzhe & Lee, Chien-Chiang, 2024. "The dynamic effects of oil supply shock on China: Evidence from the TVP-Proxy-VAR approach," Socio-Economic Planning Sciences, Elsevier, vol. 95(C).
    46. Pascal Paul, 2019. "Does the Fed Know More about the Economy?," FRBSF Economic Letter, Federal Reserve Bank of San Francisco.
    47. Hasan, Iftekhar & Kwak, Boreum & Li, Xiang, 2024. "Financial technologies and the effectiveness of monetary policy transmission," European Economic Review, Elsevier, vol. 161(C).
    48. David Finck & Joerg Schmidt & Peter Tillmann, 2018. "Mortgage Debt and Time-Varying Monetary Policy Transmission," MAGKS Papers on Economics 201809, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    49. Andrea Gazzani & Alejandro Vicondoa, 2020. "Bridge Proxy-SVAR: estimating the macroeconomic effects of shocks identified at high-frequency," Temi di discussione (Economic working papers) 1274, Bank of Italy, Economic Research and International Relations Area.
    50. Michael D. Bauer & Eric T. Swanson, 2020. "An Alternative Explanation for the “Fed Information Effect”," NBER Working Papers 27013, National Bureau of Economic Research, Inc.
    51. Joscha Beckmann & Mariarosaria Comunale, 2020. "Exchange rate fluctuations and the financial channel in emerging economies," Bank of Lithuania Working Paper Series 83, Bank of Lithuania.
    52. De Nora, Giorgia, 2023. "Factor-Augmented Vector Autoregression with narrative identification. An application to monetary policy in the US," Economics Letters, Elsevier, vol. 229(C).
    53. Albert, Juan-Francisco & Gómez-Fernández, Nerea, 2024. "The impact of monetary policy shocks on net worth and consumption across races in the United States," Economic Systems, Elsevier, vol. 48(1).
    54. Venditti, Fabrizio & Veronese, Giovanni, 2020. "Global financial markets and oil price shocks in real time," Working Paper Series 2472, European Central Bank.
    55. Blot, Christophe & Hubert, Paul & Labondance, Fabien, 2024. "The asymmetric effects of monetary policy on stock price bubbles," European Economic Review, Elsevier, vol. 168(C).
    56. Karadi, Peter & Jarocinski, Marek, 2018. "Deconstructing Monetary Policy Surprises - The Role of Information Shocks," CEPR Discussion Papers 12765, C.E.P.R. Discussion Papers.
    57. Leonardo N. Ferreira, 2020. "Forward Guidance Matters: Disentangling Monetary Policy Shocks," Working Papers 912, Queen Mary University of London, School of Economics and Finance.
    58. DongIk Kang & Andrew Usher, 2023. "Does Product Revenue Matter for Price Setting and Monetary Policy Transmission?," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 47, pages 297-345, January.
    59. Goodhead, Robert, 2024. "The economic impact of yield curve compression: Evidence from euro area forward guidance and unconventional monetary policy," European Economic Review, Elsevier, vol. 164(C).
    60. Haroon Mumtaz & Katerina Petrova, 2018. "Changing impact of shocks: a time-varying proxy SVAR approach," Working Papers 875, Queen Mary University of London, School of Economics and Finance.
    61. Albuquerque, Bruno & Iseringhausen, Martin & Opitz, Frederic, 2020. "Monetary policy and US housing expansions: The case of time-varying supply elasticities," Economics Letters, Elsevier, vol. 195(C).
    62. Hauzenberger, Niko & Pfarrhofer, Michael & Stelzer, Anna, 2021. "On the effectiveness of the European Central Bank’s conventional and unconventional policies under uncertainty," Journal of Economic Behavior & Organization, Elsevier, vol. 191(C), pages 822-845.
    63. Nils Gottfries & Glenn Mickelsson & Karolina Stadin, 2021. "Deep Dynamics," CESifo Working Paper Series 8873, CESifo.
    64. Bruns, Martin & Lütkepohl, Helmut, 2025. "Comparing external and internal instruments for vector autoregressions," Journal of Economic Dynamics and Control, Elsevier, vol. 177(C).
    65. Yayi Yan & Jiti Gao & Bin Peng, 2020. "A Class of Time-Varying Vector Moving Average Models: Nonparametric Kernel Estimation and Application," Papers 2010.01492, arXiv.org.
    66. Shang, Fei, 2022. "The effect of uncertainty on the sensitivity of the yield curve to monetary policy surprises," Journal of Economic Dynamics and Control, Elsevier, vol. 137(C).
    67. Martin Bruns & Helmut Luetkepohl, 2022. "Heteroskedastic Proxy Vector Autoregressions: Testing for Time-Varying Impulse Responses in the Presence of Multiple Proxies," University of East Anglia School of Economics Working Paper Series 2022-02, School of Economics, University of East Anglia, Norwich, UK..
    68. Christophe André & Petre Caraiani & Adrian Cantemir Čalin & Rangan Gupta, 2018. "Can Monetary Policy Lean against Housing Bubbles?," Working Papers 201877, University of Pretoria, Department of Economics.
    69. Yusupova, Alisa & Pavlidis, Nicos G. & Pavlidis, Efthymios G., 2023. "Dynamic linear models with adaptive discounting," International Journal of Forecasting, Elsevier, vol. 39(4), pages 1925-1944.
    70. van der Zwan, Terri & Kole, Erik & van der Wel, Michel, 2024. "Heterogeneous macro and financial effects of ECB asset purchase programs," Journal of International Money and Finance, Elsevier, vol. 143(C).
    71. Huang, MeiChi, 2025. "Time-varying impacts of monetary policies on state-level housing markets: Evidence from the Covid-19 period," The Quarterly Review of Economics and Finance, Elsevier, vol. 100(C).
    72. Cho, Dooyeon & Jung, Jaehun, 2025. "Machine learning goes beyond: Time-varying monetary policy and oil price pass-through to inflation expectations," Journal of Macroeconomics, Elsevier, vol. 85(C).
    73. William Larson & Andrew Martinez, 2025. "House Prices, Debt Burdens, and the Heterogeneous Effects of Mortgage Rate Shocks," Working Papers 25-02, Office of Financial Research, US Department of the Treasury.
    74. Martin Bruns & Helmut Lütkepohl, 2026. "Review of Proxy Vector Autoregressive Analysis," Discussion Papers of DIW Berlin 2155, DIW Berlin, German Institute for Economic Research.
    75. Yambolov, Andrian, 2025. "How to conduct joint Bayesian inference in VAR models?," Working Paper Series 3100, European Central Bank.
    76. Forni, Mario & Gambetti, Luca & Ricco, Giovanni, 2022. "External Instrument SVAR Analysis for Noninvertible Shocks," The Warwick Economics Research Paper Series (TWERPS) 1444, University of Warwick, Department of Economics.
    77. Michael Pfarrhofer & Anna Stelzer, 2019. "High-frequency and heteroskedasticity identification in multicountry models: Revisiting spillovers of monetary shocks," Papers 1912.03158, arXiv.org, revised Dec 2024.
    78. Tsai, I-Chun, 2024. "Inter-regional rail travel and housing markets connectedness between London and other regions," Journal of Transport Geography, Elsevier, vol. 121(C).
    79. Renzhi, Nuobu, 2022. "Do house prices play a role in unconventional monetary policy transmission in Japan?," Journal of Asian Economics, Elsevier, vol. 83(C).
    80. Giorgia De Nora, 2021. "Factor Augmented Vector-Autoregression with narrative identification. An application to monetary policy in the US," Working Papers 934, Queen Mary University of London, School of Economics and Finance.
    81. Martin Iseringhausen, 2024. "The housing supply channel of monetary policy," Working Papers 59, European Stability Mechanism, revised 05 Feb 2024.
    82. Mikkel Plagborg‐Møller & Christian K. Wolf, 2021. "Local Projections and VARs Estimate the Same Impulse Responses," Econometrica, Econometric Society, vol. 89(2), pages 955-980, March.
    83. Lyu, Xiaoyi & Hu, Hao, 2024. "The dynamic impact of monetary policy on stock market liquidity," Economic Analysis and Policy, Elsevier, vol. 81(C), pages 388-405.
    84. Chunya Bu & John Rogers & Wenbin Wu, 2020. "Forward-Looking Monetary Policy and the Transmission of Conventional Monetary Policy Shocks," Finance and Economics Discussion Series 2020-014, Board of Governors of the Federal Reserve System (U.S.).
    85. Georgiadis, Georgios & Jarociński, Marek, 2023. "Global spillovers from multi-dimensional US monetary policy," Working Paper Series 2881, European Central Bank.
    86. Carlos Alba & Julio A. Carrillo & Raúl Ibarra, 2024. "Information Effects of US Monetary Policy Announcements on Emerging Economies: Evidence from Mexico," Working Papers 2024-14, Banco de México.
    87. Skouralis, Alexandros, 2021. "The role of systemic risk spillovers in the transmission of Euro Area monetary policy," ESRB Working Paper Series 129, European Systemic Risk Board.
    88. Piergiorgio Alessandri & Andrea Gazzani & Alejandro Vicondoa, 2023. "Are the Effects of Uncertainty Shocks Big or Small?," Working Papers 244, Red Nacional de Investigadores en Economía (RedNIE).
    89. Juvenal, Luciana & Petrella, Ivan, 2024. "Reprint of “Unveiling the dance of commodity prices and the global financial cycle”," Journal of International Economics, Elsevier, vol. 149(C).
    90. Andrew Filardo & Paul Hubert & Phurichai Rungcharoenkitkul Author-X-Name_First: Phurichai, 2019. "The reaction function channel of monetary policy and the financial cycle," BIS Working Papers 816, Bank for International Settlements.
    91. Philippe Goulet Coulombe & Karin Klieber, 2025. "Opening the Black Box of Local Projections," Papers 2505.12422, arXiv.org, revised Jul 2025.
    92. Martin Bruns & Michele Piffer, 2021. "Monetary policy shocks over the business cycle: Extending the Smooth Transition framework," University of East Anglia School of Economics Working Paper Series 2021-07, School of Economics, University of East Anglia, Norwich, UK..
    93. Daniel Gründler & Eric Mayer & Johann Scharler, 2023. "Monetary Policy Announcements, Information Shocks, and Exchange Rate Dynamics," Open Economies Review, Springer, vol. 34(2), pages 341-369, April.
    94. Michael D. Bauer & Eric T. Swanson, 2020. "The Fed's Response to Economic News Explains the "Fed Information Effect"," CESifo Working Paper Series 8151, CESifo.
    95. Xiao-Li Gong & Hao-Yang Ning & Xiong Xiong, 2025. "Research on the cross-contagion between international stock markets and geopolitical risks: the two-layer network perspective," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 11(1), pages 1-32, December.
    96. Daniel J. Lewis, 2025. "Announcement-Specific Decompositions of Unconventional Monetary Policy Shocks and Their Effects," The Review of Economics and Statistics, MIT Press, vol. 107(4), pages 1086-1103, July.
    97. Zhixuan Jia & Wang Li & Yunlong Jiang & Xingshen Liu, 2025. "The Use of Minimization Solvers for Optimizing Time-Varying Autoregressive Models and Their Applications in Finance," Mathematics, MDPI, vol. 13(14), pages 1-21, July.
    98. Caraiani, Petre & Gupta, Rangan & Nel, Jacobus & Nielsen, Joshua, 2023. "Monetary policy and bubbles in G7 economies using a panel VAR approach: Implications for sustainable development," Economic Analysis and Policy, Elsevier, vol. 78(C), pages 133-155.
    99. Laséen, Stefan, 2020. "Monetary Policy Surprises, Central Bank Information Shocks, and Economic Activity in a Small Open Economy," Working Paper Series 396, Sveriges Riksbank (Central Bank of Sweden).
    100. Nuri Hacıevliyagil & Krzysztof Drachal & Ibrahim Halil Eksi, 2022. "Predicting House Prices Using DMA Method: Evidence from Turkey," Economies, MDPI, vol. 10(3), pages 1-27, March.
    101. Arin, K. Peren & Kaplan, Samuel & Polyzos, Efstathios & Spagnolo, Nicola, 2025. "Stock market responses to monetary policy shocks: Firm-level evidence," Journal of Macroeconomics, Elsevier, vol. 83(C).
    102. Hauzenberger, Niko, 2021. "Flexible Mixture Priors for Large Time-varying Parameter Models," Econometrics and Statistics, Elsevier, vol. 20(C), pages 87-108.
    103. Fumitaka Nakamura & Nao Sudo & Yu Sugisaki, 2021. "A Quest for Monetary Policy Shocks in Japan by High Frequency Identification," IMES Discussion Paper Series 21-E-02, Institute for Monetary and Economic Studies, Bank of Japan.
    104. Katsuhiro Oshima, 2021. "Heterogeneous beliefs, monetary policy, and stock price volatility," Annals of Finance, Springer, vol. 17(1), pages 79-125, March.
    105. Chen, Bin & Zhu, Xingyi, 2025. "Reaction of Chinese housing prices to oil prices and monetary policy shocks," Energy Policy, Elsevier, vol. 198(C).
    106. Zhang, Ailian & Pan, Mengmeng & Liu, Bai & Weng, Yin-Che, 2020. "Systemic risk: The coordination of macroprudential and monetary policies in China," Economic Modelling, Elsevier, vol. 93(C), pages 415-429.
    107. Max Breitenlechner & Martin Geiger & Mathias Klein, 2024. "The Fiscal Channel of Monetary Policy," Working Papers 2024-07, Faculty of Economics and Statistics, Universität Innsbruck.
    108. Katsuhiro Oshima, 2019. "Subjective Beliefs, Monetary Policy, and Stock Price Volatility," KIER Working Papers 1012, Kyoto University, Institute of Economic Research.
    109. Andrejs Zlobins, 2021. "On the Time-varying Effects of the ECB's Asset Purchases," Working Papers 2021/02, Latvijas Banka.
    110. Alistair Macaulay, 2022. "Heterogeneous Information, Subjective Model Beliefs, and the Time-Varying Transmission of Shocks," CESifo Working Paper Series 9733, CESifo.
    111. Alexey Vasilenko, 2018. "Should Central Banks Prick Asset Price Bubbles? An Analysis Based on a Financial Accelerator Model with an Agent-Based Financial Market," Bank of Russia Working Paper Series wps35, Bank of Russia.
    112. Cepni, Oguzhan & Dul, Wiehan & Gupta, Rangan & Wohar, Mark E., 2021. "The dynamics of U.S. REITs returns to uncertainty shocks: A proxy SVAR approach," Research in International Business and Finance, Elsevier, vol. 58(C).
    113. Marco Moreno & Simone Cima, 2024. "Monetary policy shocks and their effects across the wealth distribution: evidence from new European data," Trinity Economics Papers tep0524, Trinity College Dublin, Department of Economics, revised Mar 2025.
    114. Oguzhan Cepni & Rangan Gupta & Qiang Ji, 2021. "Sentiment Regimes and Reaction of Stock Markets to Conventional and Unconventional Monetary Policies: Evidence from OECD Countries," Working Papers 202126, University of Pretoria, Department of Economics.
    115. Miranda-Agrippino, Silvia & Ricco, Giovanni, 2019. "Identification with External Instruments in Structural VARs under Partial Invertibility," The Warwick Economics Research Paper Series (TWERPS) 1213, University of Warwick, Department of Economics.
    116. Allayioti, Anastasia & Gόrnicka, Lucyna & Holton, Sarah & Martínez Hernández, Catalina, 2024. "Monetary policy pass-through to consumer prices: evidence from granular price data," Working Paper Series 3003, European Central Bank.
    117. Tomás Opazo, 2023. "The Heterogeneous Effect of Monetary Policy Shocks: Evidence for US Households," Working Papers Central Bank of Chile 992, Central Bank of Chile.
    118. Alexandros Skouralis, 2023. "The Role of Systemic Risk Spillovers in the Transmission of Euro Area Monetary Policy," Open Economies Review, Springer, vol. 34(5), pages 1079-1106, November.
    119. Wildmer Daniel Gregori & Ângelo Ramos, 2024. "Time-varying effects of monetary and macroprudential policies: does high inflation matter?," Working Papers w202401, Banco de Portugal, Economics and Research Department.
    120. Yayi Yan & Jiti Gao & Bin peng, 2020. "A Class of Time-Varying Vector Moving Average (infinity) Models," Monash Econometrics and Business Statistics Working Papers 39/20, Monash University, Department of Econometrics and Business Statistics.
    121. Katsuhiro Oshima, 2019. "Heterogeneous Beliefs, Monetary Policy, and Stock Price Volatility," KIER Working Papers 1013, Kyoto University, Institute of Economic Research.
    122. Alisa Yusupova & Nicos G. Pavlidis & Efthymios G. Pavlidis, 2019. "Adaptive Dynamic Model Averaging with an Application to House Price Forecasting," Papers 1912.04661, arXiv.org.
    123. Albert, Juan-Francisco & Gómez-Fernández, Nerea, 2018. "Monetary policy and the redistribution of net worth in the US," LSE Research Online Documents on Economics 91320, London School of Economics and Political Science, LSE Library.
    124. Noam Ben-Ze’ev & Sigal Ribon & Roy Stein, 2024. "Monetary Policy and the Mutual Fund Market: Funding and Liquidity," Bank of Israel Working Papers 2024.11, Bank of Israel.
    125. Maximilian Boeck & Christian Glocker, 2025. "The Role of Labor Market Institutions in Shaping Euro Area Monetary Policy Transmission," WIFO Working Papers 713, WIFO.
    126. Renzhi, Nuobu, 2023. "Household net saving positions and unconventional monetary policy transmission: Evidence from Japan," Pacific-Basin Finance Journal, Elsevier, vol. 79(C).
    127. Manuela M. Dantas & Kenneth J. Merkley & Felipe B. G. Silva, 2023. "Government Guarantees and Banks’ Income Smoothing," Journal of Financial Services Research, Springer;Western Finance Association, vol. 63(2), pages 123-173, April.
    128. Rella, Giacomo, 2025. "Time-varying interactions between monetary and housing credit policy," Journal of Macroeconomics, Elsevier, vol. 86(C).
    129. Herwartz, Helmut & Wang, Shu, 2023. "Point estimation in sign-restricted SVARs based on independence criteria with an application to rational bubbles," Journal of Economic Dynamics and Control, Elsevier, vol. 151(C).
    130. G. Angelini & L. Fanelli, 2018. "Identification and estimation issues in Structural Vector Autoregressions with external instruments," Working Papers wp1122, Dipartimento Scienze Economiche, Universita' di Bologna.
    131. Tim D. Maurer & Thomas Nitschka, 2020. "Stock market evidence on the international transmission channels of US monetary policy surprises," Working Papers 2020-10, Swiss National Bank.

Articles

  1. Daniel L. Greenwald & John Krainer & Pascal Paul, 2025. "The Credit Line Channel," Journal of Finance, American Finance Association, vol. 80(6), pages 3137-3183, December.
    See citations under working paper version above.
  2. Paul, Pascal, 2023. "Banks, maturity transformation, and monetary policy," Journal of Financial Intermediation, Elsevier, vol. 53(C).
    See citations under working paper version above.
  3. Pascal Paul, 2023. "Historical Patterns of Inequality and Productivity around Financial Crises," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(7), pages 1641-1665, October.
    See citations under working paper version above.
  4. Miguel Faria-e-Castro & Pascal Paul & Juan M. Sanchez, 2022. "Loan Evergreening: Recent Evidence from the U.S," Economic Synopses, Federal Reserve Bank of St. Louis, issue 26, pages 1-2, September.

    Cited by:

    1. Li, Xuchao & Shao, Xiang & Shen, Guangjun & Zou, Jingxian, 2025. "Bank competition and formation of zombie firms: Evidence from banking deregulation in China," Journal of Banking & Finance, Elsevier, vol. 172(C).

  5. Martin Blomhoff Holm & Pascal Paul & Andreas Tischbirek, 2021. "The Transmission of Monetary Policy under the Microscope," Journal of Political Economy, University of Chicago Press, vol. 129(10), pages 2861-2904.
    See citations under working paper version above.
  6. Paul, Pascal, 2020. "A macroeconomic model with occasional financial crises," Journal of Economic Dynamics and Control, Elsevier, vol. 112(C).
    See citations under working paper version above.
  7. Pascal Paul & Simon Zhu, 2020. "Are Banks Exposed to Interest Rate Risk?," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, vol. 2020(16), pages 1-05, June.

    Cited by:

    1. Valentina Michelangeli & Fabio Massimo Piersanti, 2023. "Interdependence between assets and liabilities in the banking system: changes in the last two decades," Questioni di Economia e Finanza (Occasional Papers) 752, Bank of Italy, Economic Research and International Relations Area.

  8. Pascal Paul, 2020. "The Time-Varying Effect of Monetary Policy on Asset Prices," The Review of Economics and Statistics, MIT Press, vol. 102(4), pages 690-704, October.
    See citations under working paper version above.
  9. Pascal Paul, 2019. "Does the Fed Know More about the Economy?," FRBSF Economic Letter, Federal Reserve Bank of San Francisco.

    Cited by:

    1. Carola Conces Binder & Rodrigo Sekkel, 2023. "Central Bank Forecasting: A Survey," Staff Working Papers 23-18, Bank of Canada.
    2. Chunya Bu & John Rogers & Wenbin Wu, 2020. "Forward-Looking Monetary Policy and the Transmission of Conventional Monetary Policy Shocks," Finance and Economics Discussion Series 2020-014, Board of Governors of the Federal Reserve System (U.S.).

  10. Pascal Paul, 2018. "Monetary Policy Cycles and Financial Stability," FRBSF Economic Letter, Federal Reserve Bank of San Francisco.

    Cited by:

    1. Oshima, Katsuhiro, 2020. "Search for yield and business cycles," The North American Journal of Economics and Finance, Elsevier, vol. 54(C).
    2. Eslamloueyan, Karim & Fatemifar, Neda, 2021. "Does deeper financial integration lead to macroeconomic and financial instability in Asia?," Economic Analysis and Policy, Elsevier, vol. 70(C), pages 437-451.

IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.