Research classified by Journal of Economic Literature (JEL) codes

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Top JEL
/ E: Macroeconomics and Monetary Economics
/ / E5: Monetary Policy, Central Banking, and the Supply of Money and Credit
/ / / E52: Monetary Policy

2021

• Jens Klose, 2021, "Daily Monetary Policy Rules and the ECB's Medium-Term Orientation," MAGKS Papers on Economics, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung), number 202129.
• Martin Baumgaertner & Johannes Zahner, 2021, "Whatever it takes to understand a central banker - Embedding their words using neural networks," MAGKS Papers on Economics, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung), number 202130.
• Immaculate Machasio & Peter Tillmann, 2021, "Remittance Flows and U.S. Monetary Policy," MAGKS Papers on Economics, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung), number 202140.
• Soltani, Sedigheh & Falihi, Nemat & Mehrabiyan, Azadeh & Amiri, Hossein, 2021, "Investigating the Effects of Monetary and Financial Shocks on the Key Macroeconomic Variables, Focusing on the Intermediary Role of Banks Using DSGE Models," Journal of Money and Economy, Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, volume 16, issue 4, pages 477-500, December.
• Rumen Kostadinov & Francisco Roldán, 2021, "Credibility Dynamics and Inflation Expectations," Department of Economics Working Papers, McMaster University, number 2021-06, Apr.
• Ashima Goyal & Gagan Goel, 2021, "Correlated Shocks, Hysteresis, and the Sacrifice Ratio: Evidence from India," Emerging Markets Finance and Trade, Taylor & Francis Journals, volume 57, issue 10, pages 2929-2945, August, DOI: 10.1080/1540496X.2019.1668770.
• Enrico Sergio Levrero, 2021, "Estimates of the Natural Rate of Interest and the Stance of Monetary Policies: A Critical Assessment," International Journal of Political Economy, Taylor & Francis Journals, volume 50, issue 1, pages 5-27, February, DOI: 10.1080/08911916.2021.1894829.
• Lilian Muchimba & Alexis Stenfors, 2021, "Beyond LIBOR: Money Markets and the Illusion of Representativeness," Journal of Economic Issues, Taylor & Francis Journals, volume 55, issue 2, pages 565-573, April, DOI: 10.1080/00213624.2021.1915085.
• Attila Becsi & Gergely Bognar & Mate Loga, 2021, "The Growing Importance of the Economic Role of the Corporate Bond Market," Financial and Economic Review, Magyar Nemzeti Bank (Central Bank of Hungary), volume 20, issue 4, pages 5-37..
• Balazs Vonnak, 2021, "Estimating the Effect of Monetary Policy with Dissenting Votes as Instrument," MNB Working Papers, Magyar Nemzeti Bank (Central Bank of Hungary), number 2021/4.
• Kenji Tanaka, 2021, "Why Do Interest Rates Remain Low Despite the Accumulation of Government Debt in Japan?," Public Policy Review, Policy Research Institute, Ministry of Finance Japan, volume 17, issue 2, pages 1-33, November.
• Etsuro Shioji, 2021, "Does the Japanese Financial Market Believe in Fiscal Sustainability?: Analysis of the Market for the JGB Futures Options," Public Policy Review, Policy Research Institute, Ministry of Finance Japan, volume 17, issue 2, pages 1-33, November.
• Tomoki Isa, 2021, "Demographic Effects on Prices: Is Aging Deflationary?," Discussion papers, Policy Research Institute, Ministry of Finance Japan, number ron342, Jul.
• Ayushi Bajaj & Nikhil Damodaran, 2021, "Consumer Payment Choice and the Heterogeneous Impact of India’s Demonetization," Monash Economics Working Papers, Monash University, Department of Economics, number 2021-15, Oct.
• Cole, Stephen J. & Huh, Sungjun, 2021, "Forward Guidance Effectiveness in a New Keynesian Model with Housing Frictions," Working Papers and Research, Marquette University, Center for Global and Economic Studies and Department of Economics, number 2021-07, Sep.
• Yayi Yan & Jiti Gao & Bin Peng, 2021, "On Time-Varying VAR models: Estimation, Testing and Impulse Response Analysis," Monash Econometrics and Business Statistics Working Papers, Monash University, Department of Econometrics and Business Statistics, number 17/21.
• Yayi Yan & Jiti Gao & Bin Peng, 2021, "Asymptotics for Time-Varying Vector MA(∞) Processes," Monash Econometrics and Business Statistics Working Papers, Monash University, Department of Econometrics and Business Statistics, number 22/21.
• Gert Bijnens & John Hutchinson & Jozef Konings & Arthur Saint Guilhem, 2021, "The interplay between green policy, electricity prices, financial constraints and jobs. Firm-level evidence," Working Paper Research, National Bank of Belgium, number 399, Apr.
• Zbigniew Polański & Mikołaj Szadkowski, 2021, "An accounting-based model of seigniorage, and recent monetary developments," Bank i Kredyt, Narodowy Bank Polski, volume 52, issue 5, pages 391-436.
• Marcin Bielecki & Michał Brzoza-Brzezina & Marcin Kolasa, 2021, "Aging, migration and monetary policy in Poland," NBP Working Papers, Narodowy Bank Polski, number 341.
• Silvia Miranda-Agrippino & Tsvetelina Nenova, 2021, "A Tale of Two Global Monetary Policies," NBER Chapters, National Bureau of Economic Research, Inc, "NBER International Seminar on Macroeconomics 2021".
• Yongyang Cai & Kenneth L. Judd, 2021, "A Simple but Powerful Simulated Certainty Equivalent Approximation Method for Dynamic Stochastic Problems," NBER Working Papers, National Bureau of Economic Research, Inc, number 28502, Feb.
• Sebastian Edwards & Luis Cabezas, 2021, "Exchange Rate Pass-Through, Monetary Policy, and Real Exchange Rates: Iceland and the 2008 Crisis," NBER Working Papers, National Bureau of Economic Research, Inc, number 28520, Mar.
• Alina Carare & Carlos de Resende & Andrew T. Levin & Chelsea Zhang, 2021, "Do Monetary Policy Frameworks Matter in Low Income Countries?," NBER Working Papers, National Bureau of Economic Research, Inc, number 28536, Mar.
• S. Borağan Aruoba & Marko Mlikota & Frank Schorfheide & Sergio Villalvazo, 2021, "SVARs With Occasionally-Binding Constraints," NBER Working Papers, National Bureau of Economic Research, Inc, number 28571, Mar.
• Cecilia R. Caglio & R. Matthew Darst & Ṣebnem Kalemli-Özcan, 2021, "Collateral Heterogeneity and Monetary Policy Transmission: Evidence from Loans to SMEs and Large Firms," NBER Working Papers, National Bureau of Economic Research, Inc, number 28685, Apr.
• Scott R. Baker & Nicholas Bloom & Steven J. Davis & Marco C. Sammon, 2021, "What Triggers Stock Market Jumps?," NBER Working Papers, National Bureau of Economic Research, Inc, number 28687, Apr.
• Rohan Kekre & Moritz Lenel, 2021, "Monetary Policy, Redistribution, and Risk Premia," NBER Working Papers, National Bureau of Economic Research, Inc, number 28869, May.
• Adrien Auclert & Matthew Rognlie & Martin Souchier & Ludwig Straub, 2021, "Exchange Rates and Monetary Policy with Heterogeneous Agents: Sizing up the Real Income Channel," NBER Working Papers, National Bureau of Economic Research, Inc, number 28872, May.
• Eduardo Dávila & Ansgar Walther, 2021, "Prudential Policy with Distorted Beliefs," NBER Working Papers, National Bureau of Economic Research, Inc, number 28879, Jun.
• Michael D. Bauer & Mikhail Chernov, 2021, "Interest Rate Skewness and Biased Beliefs," NBER Working Papers, National Bureau of Economic Research, Inc, number 28954, Jun.
• David Backus & Mikhail Chernov & Stanley E. Zin & Irina Zviadadze, 2021, "Monetary Policy Risk: Rules vs. Discretion," NBER Working Papers, National Bureau of Economic Research, Inc, number 28983, Jul.
• Ulrike Malmendier, 2021, "Experience Effects in Finance: Foundations, Applications, and Future Directions," NBER Working Papers, National Bureau of Economic Research, Inc, number 29074, Jul.
• Gauti B. Eggertsson & Cosimo Petracchi, 2021, "Mr. Keynes and the “Classics”; A Suggested Reinterpretation," NBER Working Papers, National Bureau of Economic Research, Inc, number 29158, Aug.
• Michael D. Bordo, 2021, "Central Bank Digital Currency in Historical Perspective: Another Crossroad in Monetary History," NBER Working Papers, National Bureau of Economic Research, Inc, number 29171, Aug.
• Chao Gu & Guido Menzio & Randall Wright & Yu Zhu, 2021, "Market Freezes," NBER Working Papers, National Bureau of Economic Research, Inc, number 29210, Sep.
• Christiane Baumeister, 2021, "Measuring Market Expectations," NBER Working Papers, National Bureau of Economic Research, Inc, number 29232, Sep.
• Francesco D’Acunto & Andreas Fuster & Michael Weber, 2021, "Diverse Policy Committees Can Reach Underrepresented Groups," NBER Working Papers, National Bureau of Economic Research, Inc, number 29275, Sep.
• Francesco D’Acunto & Daniel Hoang & Maritta Paloviita & Michael Weber, 2021, "Human Frictions in the Transmission of Economic Policies," NBER Working Papers, National Bureau of Economic Research, Inc, number 29279, Sep.
• Martin Beraja & Christian K. Wolf, 2021, "Demand Composition and the Strength of Recoveries," NBER Working Papers, National Bureau of Economic Research, Inc, number 29304, Sep.
• Kristin Forbes & Joseph Gagnon & Christopher G. Collins, 2021, "Low Inflation Bends the Phillips Curve around the World," NBER Working Papers, National Bureau of Economic Research, Inc, number 29323, Oct.
• Sebastian Edwards, 2021, "Macroprudential Policies and The Covid-19 Pandemic: Risks and Challenges For Emerging Markets," NBER Working Papers, National Bureau of Economic Research, Inc, number 29441, Oct.
• Greg Buchak & Jiayin Hu & Shang-Jin Wei, 2021, "FinTech as a Financial Liberator," NBER Working Papers, National Bureau of Economic Research, Inc, number 29448, Nov.
• Ruediger Bachmann & Isabel Gödl-Hanisch & Eric R. Sims, 2021, "Identifying Monetary Policy Shocks Using the Central Bank's Information Set," NBER Working Papers, National Bureau of Economic Research, Inc, number 29572, Dec.
• Robert G. King & Yang K. Lu, 2021, "The Rise, Fall and Stabilization of U.S. Inflation: Shifting Regimes and Evolving Reputation," NBER Working Papers, National Bureau of Economic Research, Inc, number 29585, Dec.
• Frederic Boissay & Fabrice Collard & Jordi Galí & Cristina Manea, 2021, "Monetary Policy and Endogenous Financial Crises," NBER Working Papers, National Bureau of Economic Research, Inc, number 29602, Dec.
• Viral V. Acharya & Simone Lenzu & Olivier Wang, 2021, "Zombie Lending and Policy Traps," NBER Working Papers, National Bureau of Economic Research, Inc, number 29606, Dec.
• King Yoong Lim & Chunping Liu & Shuonan Zhang, 2021, "Optimal Central Banking Policies: Envisioning the Post-Digital Yuan Economy with Loan Prime Rate-setting," NBS Discussion Papers in Economics, Economics, Nottingham Business School, Nottingham Trent University, number 2021/02, Jun.
• Grebenkina, A. & Khandruev, A., 2021, "Difference in intensity of exchange rate factors in countries with targeting inflation regime," Journal of the New Economic Association, New Economic Association, volume 51, issue 3, pages 125-143, DOI: 10.31737/2221-2264-2021-51-3-6.
• Kamila, Anshuman, 2021, "Fiscal dominance in India: An empirical estimation," Working Papers, National Institute of Public Finance and Policy, number 21/359, Nov.
• Luisa Corrado & Daniela Fantozzi, 2021, "Micro level data for macro models: the distributional effects of monetary policy," National Institute of Economic and Social Research (NIESR) Discussion Papers, National Institute of Economic and Social Research, number 529, May.
• Cyrille Lenoel & Garry Young, 2021, "Modelling the impact of Covid-19 on the UK economy: an application of a disaggregated New-Keynesian model," National Institute of Economic and Social Research (NIESR) Discussion Papers, National Institute of Economic and Social Research, number 531, Aug.
• Philip Turner, 2021, "The New Monetary Policy Revolution: Advice and Dissent," National Institute of Economic and Social Research (NIESR) Occasional Papers, National Institute of Economic and Social Research, number 60, Feb.
• Jagjit S. Chadha & Hande Kucuk & Adrian Pabst, 2021, "Designing a New Fiscal Framework: Understanding and Confronting Uncertainty," National Institute of Economic and Social Research (NIESR) Occasional Papers, National Institute of Economic and Social Research, number 61, Apr.
• William Allen, 2021, "Managing the Fiscal Risk of Higher Interest Rates," National Institute of Economic and Social Research (NIESR) Policy Papers, National Institute of Economic and Social Research, number 25, Mar.
• Dimitar Damyanov, 2021, "Inter-Industry Structural Convergence of Bulgaria’s Economy to the Eurozone," Ikonomiceski i Sotsialni Alternativi, University of National and World Economy, Sofia, Bulgaria, issue 3, pages 117-132, September.
• Pawel Merlo & Radoslaw Kulak & Zbigniew Warzocha, 2021, "Asean As An Optimal/Nonoptimal Currency Area," OLSZTYN ECONOMIC JOURNAL, University of Warmia and Mazury in Olsztyn, Faculty of Economic Sciences, volume 16, issue 1, pages 57-70, November, DOI: https://doi.org/10.31648/oej.7311.
• Martin Feldkircher & Paul Hofmarcher & Pierre L. Siklos, 2021, "What do central banks talk about? A European perspective on central bank communication," Focus on European Economic Integration, Oesterreichische Nationalbank (Austrian Central Bank), issue Q2/21, pages 61-81.
• Peter Breyer & Eleonora Endlich & Dieter Huber & Doris Oswald & Christoph Prenner & Lukas Reiss & Martin Schneider & Walter Waschiczek, 2021, "Corporate equity finance in Austria – impediments and possible improvements," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue Q3/21, pages 39-57.
• Peter Breyer & Eleonora Endlich & Dieter Huber & Doris Oswald & Christoph Prenner & Lukas Reiss & Martin Schneider & Walter Waschiczek, 2021, "Eigenkapitalausstattung österreichischer Unternehmen – Hindernisse und Handlungsoptionen," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue Q3/21, pages 1-22.
• Andreas Breitenfellner & Wolfgang Pointner, 2021, "The impact of climate change on monetary policy," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue Q3/21, pages 59-80.
• Claudia Kwapil & Kilian Rieder, 2021, "The effects of the monetary policy response to the COVID-19 pandemic: preliminary evidence from a pilot study using Austrian bank-level data," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue Q4/20-Q1/, pages 131-152.
• William Chen & Gregory Phelan, 2021, "Liquidity Provision and Financial Stability," Department of Economics Working Papers, Department of Economics, Williams College, number 2021-11, Aug, DOI: 10.36934/wecon:2021-11.
• William Chen & Gregory Phelan, 2021, "Should Monetary Policy Target Financial Stability?," Department of Economics Working Papers, Department of Economics, Williams College, number 2021-12, Aug, DOI: 10.36934/wecon:2021-12.
• Pamela Jakiela & Owen Ozier, 2021, "Gendered Language," Department of Economics Working Papers, Department of Economics, Williams College, number 2021-13, Jul, DOI: 10.36934/wecon:2021-13.
• Georg Leitner & Teresa Hübel & Anna Wolfmayr & Manuel Zerobin, 2021, "How risky is Monetary Policy? The Effect of Monetary Policy on Systemic Risk in the Euro Area," Department of Economics Working Papers, Vienna University of Economics and Business, Department of Economics, number wuwp312, Mar.
• Leitner, Georg & Hübel, Teresa & Wolfmayr, Anna & Zerobin, Manuel, 2021, "How risky is Monetary Policy? The Effect of Monetary Policy on Systemic Risk in the Euro Area," Department of Economics Working Paper Series, WU Vienna University of Economics and Business, number 312, Mar.
• Federico Ravenna & Marcus Mølbak Ingholt, 2021, "The impact of inflation targeting: Testing the good luck hypothesis," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, volume 54, issue 1, pages 443-470, February, DOI: 10.1111/caje.12488.
• Stylianos Asimakopoulos & Marco Lorusso & Luca Pieroni, 2021, "Can public spending boost private consumption?," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, volume 54, issue 3, pages 1275-1313, November, DOI: 10.1111/caje.12527.
• Anmol Bhandari & David Evans & Mikhail Golosov & Thomas J. Sargent, 2021, "Inequality, Business Cycles, and Monetary‐Fiscal Policy," Econometrica, Econometric Society, volume 89, issue 6, pages 2559-2599, November, DOI: 10.3982/ECTA16414.
• Alisdair McKay & Johannes F. Wieland, 2021, "Lumpy Durable Consumption Demand and the Limited Ammunition of Monetary Policy," Econometrica, Econometric Society, volume 89, issue 6, pages 2717-2749, November, DOI: 10.3982/ECTA18821.
• Michelle Bongard & Gabriele Galati & Richhild Moessner & William Nelson, 2021, "Connecting the dots: Market reactions to forecasts of policy rates and forward guidance provided by the Fed," International Journal of Finance & Economics, John Wiley & Sons, Ltd., volume 26, issue 1, pages 684-706, January, DOI: 10.1002/ijfe.1811.
• Stephen J. Cole, 2021, "Learning and the Effectiveness of Central Bank Forward Guidance," Journal of Money, Credit and Banking, Blackwell Publishing, volume 53, issue 1, pages 157-200, February, DOI: 10.1111/jmcb.12696.
• Björn Richter & Moritz Schularick & Paul Wachtel, 2021, "When to Lean against the Wind," Journal of Money, Credit and Banking, Blackwell Publishing, volume 53, issue 1, pages 5-39, February, DOI: 10.1111/jmcb.12701.
• Michael T. Belongia & Peter N. Ireland, 2021, "A Classical View of the Business Cycle," Journal of Money, Credit and Banking, Blackwell Publishing, volume 53, issue 2-3, pages 333-366, March, DOI: 10.1111/jmcb.12767.
• Matteo Cacciatore & Romain Duval & Giuseppe Fiori & Fabio Ghironi, 2021, "Market Reforms at the Zero Lower Bound," Journal of Money, Credit and Banking, Blackwell Publishing, volume 53, issue 4, pages 745-777, June, DOI: 10.1111/jmcb.12773.
• Marc Hofstetter & José Nicolás Rosas, 2021, "The Poor and the Rich: Preferences over Inflation and Unemployment," Journal of Money, Credit and Banking, Blackwell Publishing, volume 53, issue 4, pages 875-895, June, DOI: 10.1111/jmcb.12783.
• Kimberly A. Berg & Chadwick C. Curtis & Steven Lugauer & Nelson C. Mark, 2021, "Demographics and Monetary Policy Shocks," Journal of Money, Credit and Banking, Blackwell Publishing, volume 53, issue 6, pages 1229-1266, September, DOI: 10.1111/jmcb.12825.
• Marcelle Chauvet & Insu Kim, 2021, "Incomplete Price Adjustment and Inflation Persistence," Journal of Money, Credit and Banking, Blackwell Publishing, volume 53, issue 6, pages 1337-1371, September, DOI: 10.1111/jmcb.12813.
• Dmitry Matveev, 2021, "Time‐Consistent Management of a Liquidity Trap with Government Debt," Journal of Money, Credit and Banking, Blackwell Publishing, volume 53, issue 8, pages 2129-2165, December, DOI: 10.1111/jmcb.12820.
• Atsushi Inoue & Barbara Rossi, 2021, "A new approach to measuring economic policy shocks, with an application to conventional and unconventional monetary policy," Quantitative Economics, Econometric Society, volume 12, issue 4, pages 1085-1138, November, DOI: 10.3982/QE1225.
• Andre, Peter & Pizzinelli, Carlo & Roth, Christopher & Wohlfart, Johannes, 2021, "Subjective Models of the Macroeconomy : Evidence from Experts and a Representative Sample," The Warwick Economics Research Paper Series (TWERPS), University of Warwick, Department of Economics, number 1342.
• James Dean & Scott Schuh, 2021, "Is the Taylor Rule Still an Adequate Representation of Monetary Policy in Macroeconomic Models?," Working Papers, Department of Economics, West Virginia University, number 21-05, Dec.
• Sangyup Choi & David Furceri & Prakash Loungani & Myungkyu shim, 2021, "Inflation Anchoring and Growth: The Role of Credit Constraints," Working papers, Yonsei University, Yonsei Economics Research Institute, number 2021rwp-188, Oct.
• Nelimarkka, Jaakko & Laine, Olli-Matti, 2021, "The effects of the ECB's pandemic-related monetary policy measures," BoF Economics Review, Bank of Finland, number 4/2021.
• Fungáčová, Zuzana & Kerola, Eeva & Weill, Laurent, 2021, "Does bank efficiency affect the bank lending channel in China?," BOFIT Discussion Papers, Bank of Finland Institute for Emerging Economies (BOFIT), number 3/2021.
• Li, Xiaoming & Liu, Zheng & Peng, Yuchao & Xu, Zhiwei, 2021, "Bank risk-taking and monetary policy transmission: Evidence from China," BOFIT Discussion Papers, Bank of Finland Institute for Emerging Economies (BOFIT), number 15/2021.
• Haavio, Markus & Laine, Olli-Matti, 2021, "Monetary policy rules and the effective lower bound in the Euro area," Bank of Finland Research Discussion Papers, Bank of Finland, number 5/2021.
• Honkapohja, Seppo & McClung, Nigel, 2021, "On robustness of average inflation targeting," Bank of Finland Research Discussion Papers, Bank of Finland, number 6/2021.
• Granziera, Eleonora & Jalasjoki, Pirkka & Paloviita, Maritta, 2021, "The bias and efficiency of the ECB inflation projections: A state dependent analysis," Bank of Finland Research Discussion Papers, Bank of Finland, number 7/2021.
• Kilponen, Juha & Vilmunen, Jouko & Vähämaa, Oskari, 2021, "Revisiting intertemporal elasticity of substitution in a sticky price model," Bank of Finland Research Discussion Papers, Bank of Finland, number 9/2021.
• D'Acunto, Francesco & Hoang, Daniel & Paloviita, Maritta & Weber, Michael, 2021, "Human frictions in the transmission of economic policy," Bank of Finland Research Discussion Papers, Bank of Finland, number 12/2021.
• Eo, Yunjong & McClung, Nigel, 2021, "Determinacy and E-stability with interest rate rules at the zero lower bound," Bank of Finland Research Discussion Papers, Bank of Finland, number 14/2021.
• Schmidt, Kirsten & Noth, Felix & Tonzer, Lena, 2021, "A note of caution on quantifying banks' recapitalization effects," Discussion Papers, Deutsche Bundesbank, number 02/2021.
• Boneva, Lena & Islami, Mevlud & Schlepper, Kathi, 2021, "Liquidity in the German corporate bond market: Has the CSPP made a difference?," Discussion Papers, Deutsche Bundesbank, number 08/2021.
• Bettendorf, Timo & Jochem, Axel, 2021, "What drives the German TARGET balances? Evidence from a BVAR approach," Discussion Papers, Deutsche Bundesbank, number 12/2021.
• Darracq Pariès, Matthieu & Kok Sørensen, Christoffer & Rottner, Matthias, 2021, "Reversal interest rate and macroprudential policy," Discussion Papers, Deutsche Bundesbank, number 24/2021.
• Adam, Klaus & Gautier, Erwan & Santoro, Sergio & Weber, Henning, 2021, "The case for a positive euro area inflation target: Evidence from France, Germany and Italy," Discussion Papers, Deutsche Bundesbank, number 26/2021.
• Bianchi, Francesco & Melosi, Leonardo & Rottner, Matthias, 2021, "Hitting the elusive inflation target," Discussion Papers, Deutsche Bundesbank, number 40/2021.
• Koenig, Philipp J. & Schliephake, Eva, 2021, "Bank risk-taking and impaired monetarypolicy transmission," Discussion Papers, Deutsche Bundesbank, number 42/2021.
• Hinterlang, Natascha & Tänzer, Alina, 2021, "Optimal monetary policy using reinforcement learning," Discussion Papers, Deutsche Bundesbank, number 51/2021.
• Beck, Thorsten & Bednarek, Peter & te Kaat, Daniel Marcel & von Westernhagen, Natalja, 2021, "Exchange rate depreciations and local business cycles: The role of bank loan supply," Discussion Papers, Deutsche Bundesbank, number 52/2021.
• Böhl, Gregor & Lieberknecht, Philipp, 2021, "The hockey stick Phillips curve and the effective lower bound," Discussion Papers, Deutsche Bundesbank, number 55/2021.
• Dobrew, Michael & Gerke, Rafael & Giesen, Sebastian & Röttger, Joost, 2021, "A comparison of monetary policy rules in a HANK model," Technical Papers, Deutsche Bundesbank, number 02/2021.
• Gerke, Rafael & Kienzler, Daniel & Scheer, Alexander, 2021, "Unconventional monetary policies at the effective lower bound," Technical Papers, Deutsche Bundesbank, number 03/2021.
• Röttger, Joost & Gerke, Rafael, 2021, "The incentive effects of monetary policy on fiscal policy behaviour," Technical Papers, Deutsche Bundesbank, number 04/2021.
• Gerke, Rafael & Giesen, Sebastian & Kienzler, Daniel & Röttger, Joost & Scheer, Alexander, 2021, "A comparison of monetary policy rules in an estimated TANK model," Technical Papers, Deutsche Bundesbank, number 05/2021.
• Zaghini, Andrea, 2021, "The Covid pandemic in the market: Infected, immune and cured bonds," CFS Working Paper Series, Center for Financial Studies (CFS), number 653.
• De Santis, Roberto A. & Zaghini, Andrea, 2021, "Unconventional monetary policy and corporate bond issuance," CFS Working Paper Series, Center for Financial Studies (CFS), number 654.
• Coenen, Günter & Montes-Galdón, Carlos & Schmidt, Sebastian, 2021, "Macroeconomic stabilisation and monetary policy effectiveness in a low-interest-rate environment," CFS Working Paper Series, Center for Financial Studies (CFS), number 656.
• Coleman, Winnie & Nautz, Dieter, 2021, "Inflation expectations, inflation target credibility and the COVID-19 pandemic: New evidence from Germany," CFS Working Paper Series, Center for Financial Studies (CFS), number 658.
• Kilian, Lutz & Zhou, Xiaoqing, 2021, "The impact of rising oil prices on U.S. inflation and inflation expectations in 2020-23," CFS Working Paper Series, Center for Financial Studies (CFS), number 670.
• Chatelain, Jean-Bernard & Ralf, Kirsten, 2021, "Imperfect Credibility versus No Credibility of Optimal Monetary Policy," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, volume 0, issue 1, pages 43-63.
• Ehrenbergerova, Dominika & Bajzik, Josef & Havranek, Tomas, 2021, "When Does Monetary Policy Sway House Prices? A Meta-Analysis," EconStor Preprints, ZBW - Leibniz Information Centre for Economics, number 234126.
• Coleman, Winnie & Nautz, Dieter, 2021, "Inflation expectations, inflation target credibility and the COVID-19 pandemic: New evidence from Germany," Discussion Papers, Free University Berlin, School of Business & Economics, number 2021/12, DOI: 10.17169/refubium-31103.
• Hülsewig, Oliver & Rottmann, Horst, 2021, "Euro area house price fluctuations and unconventional monetary policy surprises," Weidener Diskussionspapiere, University of Applied Sciences Amberg-Weiden (OTH), number 80.
• Hülsewig, Oliver & Rottmann, Horst, 2021, "Euro area periphery countries' fiscal policy and monetary policy surprises," Weidener Diskussionspapiere, University of Applied Sciences Amberg-Weiden (OTH), number 81.
• Kubitza, Christian & Grochola, Nicolaus & Gründl, Helmut, 2021, "Life insurance convexity," ICIR Working Paper Series, Goethe University Frankfurt, International Center for Insurance Regulation (ICIR), number 42/21.
• Lechthaler, Wolfgang & Tesfaselassie, Mewael F., 2021, "Endogenous growth, skill obsolescence and fiscal multipliers," Kiel Working Papers, Kiel Institute for the World Economy, number 2184.
• Lechthaler, Wolfgang & Tesfaselassie, Mewael F., 2021, "Endogenous growth, skill obsolescence and optimal monetary policy," Kiel Working Papers, Kiel Institute for the World Economy, number 2205.
• Beyer, Robert & Milivojevic, Lazar, 2021, "Dynamics and synchronization of global equilibrium interest rates," IMFS Working Paper Series, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS), number 146.
• Fabo, Brian & Jančoková, Martina & Kempf, Elisabeth & Pástor, Luboš, 2021, "Fifty shades of QE: Conflicts of interest in economic research," IMFS Working Paper Series, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS), number 147.
• Böhl, Gregor & Lieberknecht, Philipp, 2021, "The hockey stick Phillips curve and the zero lower bound," IMFS Working Paper Series, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS), number 153.
• Bauer, Michael D. & Swanson, Eric T., 2021, "The Fed's response to economic news explains the "Fed information effect"," IMFS Working Paper Series, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS), number 155.
• Bauer, Michael & Chernov, Mikhail, 2021, "Interest rate skewness and biased beliefs," IMFS Working Paper Series, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS), number 163.
• Di Bucchianico, Stefano, 2021, "Inequality, household debt, ageing and bubbles: A model of demand-side Secular Stagnation," IPE Working Papers, Berlin School of Economics and Law, Institute for International Political Economy (IPE), number 160/2021.
• Dünhaupt, Petra & Herr, Hansjörg & Mehl, Fabian & Teipen, Christina, 2021, "Economic and social effects of the COVID-19 pandemic and the future of global value chains," IPE Working Papers, Berlin School of Economics and Law, Institute for International Political Economy (IPE), number 164/2021.
• Chang, Yoosoon & Kwak, Boreum & Qiu, Shi, 2021, "U.S. monetary and fiscal policy regime changes and their interactions," IWH Discussion Papers, Halle Institute for Economic Research (IWH), number 12/2021.
• Li, Xiang, 2021, "Dilemma and global financial cycle: Evidence from capital account liberalisation episodes," IWH Discussion Papers, Halle Institute for Economic Research (IWH), number 13/2021.
• Demary, Markus & Hüther, Michael, 2021, "Global inflation: Low for long or higher for longer?," IW-Reports, Institut der deutschen Wirtschaft (IW) / German Economic Institute, number 12/2021.
• Glas, Alexander & Müller, Lena, 2021, "Talking in a language that everyone can understand? Transparency of speeches by the ECB Executive Board," FAU Discussion Papers in Economics, Friedrich-Alexander University Erlangen-Nuremberg, Institute for Economics, number 01/2021.
• Jung, Kyu-Chul, 2021, "Korea's Inflation Expectations with regard to the Phillips Curve and Implications of the COVID-19 Crisis," KDI Journal of Economic Policy, Korea Development Institute (KDI), volume 43, issue 2, pages 81-101, DOI: 10.23895/kdijep.2021.43.2.81.
• D'Acunto, Francesco & Hoang, Daniel & Paloviita, Maritta & Weber, Michael, 2021, "Effective policy communication: Targets versus instruments," Working Paper Series in Economics, Karlsruhe Institute of Technology (KIT), Department of Economics and Management, number 147, DOI: 10.5445/IR/1000130652.
• D'Acunto, Francesco & Hoang, Daniel & Weber, Michael, 2021, "Managing households' expectations with unconventional policies," Working Paper Series in Economics, Karlsruhe Institute of Technology (KIT), Department of Economics and Management, number 148, DOI: 10.5445/IR/1000130761.
• Bartscher, Alina Kristin & Kuhn, Moritz & Schularick, Moritz & Wachtel, Paul, 2021, "Monetary Policy and Racial Inequality," LawFin Working Paper Series, Goethe University, Center for Advanced Studies on the Foundations of Law and Finance (LawFin), number 15, DOI: 10.2139/ssrn.3777942.
• D'Acunto, Francesco & Malmendier, Ulrike & Weber, Michael, 2021, "Gender Roles and the Gender Expectations Gap," LawFin Working Paper Series, Goethe University, Center for Advanced Studies on the Foundations of Law and Finance (LawFin), number 16, DOI: 10.2139/ssrn.3797091.
• D'Acunto, Francesco & Fuster, Andreas & Weber, Michael, 2021, "Diverse Policy Committees Can Reach Underrepresented Groups," LawFin Working Paper Series, Goethe University, Center for Advanced Studies on the Foundations of Law and Finance (LawFin), number 21, DOI: 10.2139/ssrn.3901975.
• Israel, Karl-Friedrich & Sepp, Tim & Sonnenberg, Nils, 2021, "Japanese monetary policy and household saving," Working Papers, University of Leipzig, Faculty of Economics and Management Science, number 173.
• Schnabl, Gunther & Sepp, Tim, 2021, "Niedrigzinspolitik und Sparkultur in Japan: Implikationen für die Wirtschaftspolitik," Working Papers, University of Leipzig, Faculty of Economics and Management Science, number 174.
• Colvin, Christopher L. & Fliers, Philip T., 2021, "Going Dutch: How the Netherlands Escaped its Golden Fetters, 1925-1936," QBS Working Paper Series, Queen's University Belfast, Queen's Business School, number 2021/06, DOI: 10.2139/ssrn.3870962.
• Swanepoel, Christie & Fliers, Philip, 2021, "The fuel of unparalleled recovery: Monetary policy in South Africa between 1925 and 1936," QUCEH Working Paper Series, Queen's University Belfast, Queen's University Centre for Economic History, number 21-05.
• Arce-Alfaro, Gabriel & Blagov, Boris, 2021, "Monetary policy uncertainty and inflation expectations," Ruhr Economic Papers, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen, number 899, DOI: 10.4419/96973039.
• Arce-Alfaro, Gabriel & Blagov, Boris, 2021, "Heterogeneity, co-movements and financial fragmentation within the euro area," Ruhr Economic Papers, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen, number 927, DOI: 10.4419/96973085.
• Gasteiger, Emanuel, 2021, "Optimal Constrained Interest-Rate Rules under Heterogeneous Expectations," ECON WPS - Working Papers in Economic Theory and Policy, TU Wien, Institute of Statistics and Mathematical Methods in Economics, Economics Research Unit, number 04/2021.
• Grimaud, Alex, 2021, "Precautionary saving and un-anchored expectations," ECON WPS - Working Papers in Economic Theory and Policy, TU Wien, Institute of Statistics and Mathematical Methods in Economics, Economics Research Unit, number 08/2021.
• Tsang, Andrew, 2021, "Uncovering Heterogeneous Regional Impacts of Chinese Monetary Policy," WiSo-HH Working Paper Series, University of Hamburg, Faculty of Business, Economics and Social Sciences, WISO Research Laboratory, number 62.
• Bennani, Hamza & Burgard, Jan Pablo & Neuenkirch, Matthias, 2021, "The Financial Accelerator in the Euro Area: New Evidence Using a Mixture VAR Model," VfS Annual Conference 2021 (Virtual Conference): Climate Economics, Verein für Socialpolitik / German Economic Association, number 242327.
• Harms, Philipp & Knaze, Jakub, 2021, "Effective Exchange Rate Regimes and Inflation," VfS Annual Conference 2021 (Virtual Conference): Climate Economics, Verein für Socialpolitik / German Economic Association, number 242340.
• Müller, Lena Sophia & Glas, Alexander, 2021, "Talking in a language that everyone can understand? Transparency of speeches by the ECB Executive Board," VfS Annual Conference 2021 (Virtual Conference): Climate Economics, Verein für Socialpolitik / German Economic Association, number 242364.
• Radke, Lucas & Wicknig, Florian, 2021, "Experience-Based Heterogeneity in Expectations and Monetary Policy," VfS Annual Conference 2021 (Virtual Conference): Climate Economics, Verein für Socialpolitik / German Economic Association, number 242414.
• Horn, Carl-Wolfram & Fischer, Johannes J., 2021, "Does Monetary Policy Affect Mergers and Acquisitions?," VfS Annual Conference 2021 (Virtual Conference): Climate Economics, Verein für Socialpolitik / German Economic Association, number 242445.
• Müller, Gernot & Dietrich, Alexander & Schoenle, Raphael, 2021, "The Expectations Channel of Climate Change:Implications for Monetary Policy," VfS Annual Conference 2021 (Virtual Conference): Climate Economics, Verein für Socialpolitik / German Economic Association, number 242446.
• Epp, Markus & Jäger, Marius, 2021, "Network Exposure in the Propagation of the COVID-19 Pandemic," VfS Annual Conference 2021 (Virtual Conference): Climate Economics, Verein für Socialpolitik / German Economic Association, number 242465.
• Große Steffen, Christoph, 2021, "Anchoring of long-term inflation expectations: Do inflation target formulations matter?," VfS Annual Conference 2021 (Virtual Conference): Climate Economics, Verein für Socialpolitik / German Economic Association, number 242466.
• Riedler, Jesper & Koziol, Tina, 2021, "Scaling, unwinding and greening QE in a calibrated portfolio balance model," ZEW Discussion Papers, ZEW - Leibniz Centre for European Economic Research, number 21-086.

2020

• William Chen & Gregory Phelan, 2020, "Should Monetary Policy Target Financial Stability?," Department of Economics Working Papers, Department of Economics, Williams College, number 2020-01, Jan.
• Angela C.M. de Oliveira & Sarah Jacobson, 2020, "(Im)patience by Proxy: Making Intertemporal Decisions for Others," Department of Economics Working Papers, Department of Economics, Williams College, number 2020-02, Jan.
• Min Zhang & Yahong Zhang, 2020, "Monetary Stimulus Policy in China: the Bank Credit Channel," Working Papers, University of Windsor, Department of Economics, number 2001, Feb.
• Marcelo Arbex & Michael Batu & Sidney Caetano, 2020, "Stay At Home! Macroeconomic Effects of Pandemic-Induced Job Separation Shocks," Working Papers, University of Windsor, Department of Economics, number 2002, Sep.
• Harald Badinger & Stefan Schiman, 2020, "Measuring Monetary Policy with Residual Sign Restrictions at Known Shock Dates," Department of Economics Working Papers, Vienna University of Economics and Business, Department of Economics, number wuwp300, Jul.
• Maximilian Böck & Martin Feldkircher, 2020, "The impact of monetary policy on expectations along the yield curve," Department of Economics Working Papers, Vienna University of Economics and Business, Department of Economics, number wuwp306, Dec.
• Badinger, Harald & Schiman, Stefan, 2020, "Measuring Monetary Policy with Residual Sign Restrictions at Known Shock Dates," Department of Economics Working Paper Series, WU Vienna University of Economics and Business, number 300, Jul.
• Böck, Maximilian & Feldkircher, Martin, 2020, "The impact of monetary policy on expectations along the yield curve," Department of Economics Working Paper Series, WU Vienna University of Economics and Business, number 306, Dec.
• Sushant Acharya & Keshav Dogra, 2020, "Understanding HANK: Insights From a PRANK," Econometrica, Econometric Society, volume 88, issue 3, pages 1113-1158, May, DOI: 10.3982/ECTA16409.
• Pablo Ottonello & Thomas Winberry, 2020, "Financial Heterogeneity and the Investment Channel of Monetary Policy," Econometrica, Econometric Society, volume 88, issue 6, pages 2473-2502, November, DOI: 10.3982/ECTA15949.
• Liang Wang & Randall Wright & Lucy Qian Liu, 2020, "Sticky Prices And Costly Credit," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, volume 61, issue 1, pages 37-70, February, DOI: 10.1111/iere.12416.
• Jing Cynthia Wu & Fan Dora Xia, 2020, "Negative interest rate policy and the yield curve," Journal of Applied Econometrics, John Wiley & Sons, Ltd., volume 35, issue 6, pages 653-672, September, DOI: 10.1002/jae.2767.
• Niko Hauzenberger & Florian Huber, 2020, "Model instability in predictive exchange rate regressions," Journal of Forecasting, John Wiley & Sons, Ltd., volume 39, issue 2, pages 168-186, March, DOI: 10.1002/for.2620.
• Edward Nelson, 2020, "Seven Fallacies Concerning Milton Friedman's “The Role of Monetary Policy”," Journal of Money, Credit and Banking, Blackwell Publishing, volume 52, issue 1, pages 145-164, February, DOI: 10.1111/jmcb.12591.
• Johannes F. Wieland & Mu‐Jeung Yang, 2020, "Financial Dampening," Journal of Money, Credit and Banking, Blackwell Publishing, volume 52, issue 1, pages 79-113, February, DOI: 10.1111/jmcb.12681.
• Garth Baughman & Francesca Carapella, 2020, "Voluntary Reserve Targets," Journal of Money, Credit and Banking, Blackwell Publishing, volume 52, issue 2-3, pages 583-612, March, DOI: 10.1111/jmcb.12579.
• Kristina Bluwstein & Michał Brzoza‐Brzezina & Paolo Gelain & Marcin Kolasa, 2020, "Multiperiod Loans, Occasionally Binding Constraints, and Monetary Policy: A Quantitative Evaluation," Journal of Money, Credit and Banking, Blackwell Publishing, volume 52, issue 7, pages 1691-1718, October, DOI: 10.1111/jmcb.12689.
• Nadav Ben Zeev & Christopher Gunn & Hashmat Khan, 2020, "Monetary News Shocks," Journal of Money, Credit and Banking, Blackwell Publishing, volume 52, issue 7, pages 1793-1820, October, DOI: 10.1111/jmcb.12686.
• Romain Baeriswyl & Camille Cornand & Bruno Ziliotto, 2020, "Observing and Shaping the Market: The Dilemma of Central Banks," Journal of Money, Credit and Banking, Blackwell Publishing, volume 52, issue 8, pages 1973-2005, December, DOI: 10.1111/jmcb.12682.
• Johannes Bubeck & Angela Maddaloni & José‐Luis Peydró, 2020, "Negative Monetary Policy Rates and Systemic Banks' Risk‐Taking: Evidence from the Euro Area Securities Register," Journal of Money, Credit and Banking, Blackwell Publishing, volume 52, issue S1, pages 197-231, October, DOI: 10.1111/jmcb.12740.
• Felipe Alves & Greg Kaplan & Benjamin Moll & Giovanni L. Violante, 2020, "A Further Look at the Propagation of Monetary Policy Shocks in HANK," Journal of Money, Credit and Banking, Blackwell Publishing, volume 52, issue S2, pages 521-559, December, DOI: 10.1111/jmcb.12761.
• Thorsten Drautzburg, 2020, "A narrative approach to a fiscal DSGE model," Quantitative Economics, Econometric Society, volume 11, issue 2, pages 801-837, May, DOI: 10.3982/QE1083.
• Lilia Maliar & Serguei Maliar & John B. Taylor & Inna Tsener, 2020, "A tractable framework for analyzing a class of nonstationary Markov models," Quantitative Economics, Econometric Society, volume 11, issue 4, pages 1289-1323, November, DOI: 10.3982/QE1360.
• Drew D. Creal & Jing Cynthia Wu, 2020, "Bond risk premia in consumption‐based models," Quantitative Economics, Econometric Society, volume 11, issue 4, pages 1461-1484, November, DOI: 10.3982/QE887.
• Pierre L. Siklos, 2020, "U.S. Monetary Policy since the 1950s and the Changing Content of FOMC Minutes," Southern Economic Journal, John Wiley & Sons, volume 86, issue 3, pages 1192-1213, January, DOI: 10.1002/soej.12406.
• Ashima Goyal & Abhishek Kumar, 2020, "A DSGE Model-Based Analysis of the Indian Slowdown," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., volume 11, issue 01, pages 1-38, April, DOI: 10.1142/S1793993320500040.
• Feld, Lars P. & Wieland, Volker, 2020, "The German Federal Constitutional Court ruling and the European Central Bank's strategy," Freiburg Discussion Papers on Constitutional Economics, Walter Eucken Institut e.V., number 20/5.
• Kotb, Naira & Proaño Acosta, Christian, 2020, "Capital-constrained loan creation, stock markets and monetary policy in a behavioral new Keynesian model," BERG Working Paper Series, Bamberg University, Bamberg Economic Research Group, number 158.
• Proaño Acosta, Christian & Lojak, Benjamin, 2020, "Monetary policy with a state-dependent inflation target in a behavioral two-country monetary union model," BERG Working Paper Series, Bamberg University, Bamberg Economic Research Group, number 161.
• Crowley, Patrick M. & Hudgins, David, 2020, "How effective is the Taylor rule? Some insights from the time-frequency domain," BoF Economics Review, Bank of Finland, number 1/2020.
• Kortelainen, Mika, 2020, "Yield curve control," BoF Economics Review, Bank of Finland, number 5/2020.
• Ma, Chang & Rogers, John H. & Zhou, Sili, 2020, "The effect of the China Connect," BOFIT Discussion Papers, Bank of Finland Institute for Emerging Economies (BOFIT), number 1/2020.
• Funke, Michael & Tsang, Andrew, 2020, "The People's Bank of China's response to the coronavirus pandemic: A quantitative assessment," BOFIT Discussion Papers, Bank of Finland Institute for Emerging Economies (BOFIT), number 12/2020.
• Kortela, Tomi & Nelimarkka, Jaakko, 2020, "The effects of conventional and unconventional monetary policy: Identification through the yield curve," Bank of Finland Research Discussion Papers, Bank of Finland, number 3/2020.
• Paloviita, Maritta & Haavio, Markus & Jalasjoki, Pirkka & Kilponen, Juha & Vänni, Ilona, 2020, "Reading between the lines: Using text analysis to estimate the loss function of the ECB," Bank of Finland Research Discussion Papers, Bank of Finland, number 12/2020.
• Laine, Olli-Matti, 2020, "Monetary policy and stock market valuation," Bank of Finland Research Discussion Papers, Bank of Finland, number 16/2020.
• D'Acunto, Francesco & Hoang, Daniel & Paloviita, Maritta & Weber, Michael, 2020, "Effective policy communication: Targets versus instruments," Bank of Finland Research Discussion Papers, Bank of Finland, number 17/2020.
• Lubik, Thomas A. & Matthes, Christian & Mertens, Elmar, 2020, "Indeterminacy and imperfect information," Discussion Papers, Deutsche Bundesbank, number 01/2020.
• Gerke, Rafael & Giesen, Sebastian & Scheer, F. Alexander, 2020, "The power of forward guidance in a quantitative TANK model," Discussion Papers, Deutsche Bundesbank, number 03/2020.
• Klein, Melanie, 2020, "Implications of negative interest rates for the net interest margin and lending of euro area banks," Discussion Papers, Deutsche Bundesbank, number 10/2020.
• Franz, Thorsten, 2020, "Central bank information shocks and exchange rates," Discussion Papers, Deutsche Bundesbank, number 13/2020.