Report NEP-MON-2021-05-24

This is the archive for NEP-MON, a report on new working papers in the area of Monetary Economics. Bernd Hayo issued this report. It is usually issued weekly.

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Other reports in NEP-MON

The following items were announced in this report:

• Niepelt, Dirk, 2020. "Monetary Policy with Reserves and CBDC: Optimality, Equivalence, and Politics," CEPR Discussion Papers 15457, C.E.P.R. Discussion Papers.
• Ashima Goyal & Prashant Parab, 2021. "Effectiveness of expectations channel of monetary policy transmission: Evidence from India," Indira Gandhi Institute of Development Research, Mumbai Working Papers 2021-011, Indira Gandhi Institute of Development Research, Mumbai, India.
• Forbes, Kristin & Hjortsø, Ida & Nenova, Tsvetelina, 2020. "International Evidence on Shock-Dependent Exchange Rate Pass-Through," CEPR Discussion Papers 15242, C.E.P.R. Discussion Papers.
• Gürkaynak, Refet & Kara, A. Hakan & KısacıkoÄŸlu, Burçin & Lee, Sang Seok, 2020. "Monetary Policy Surprises and Exchange Rate Behavior," CEPR Discussion Papers 15289, C.E.P.R. Discussion Papers.
• Cecchetti, Stephen & Feroli, Michael & Kashyap, Anil & Mann, Catherine L. & Schoenholtz, Kermit L., 2020. "Monetary Policy in the Next Recession?," CEPR Discussion Papers 15365, C.E.P.R. Discussion Papers.
• Gersbach, Hans & Böser, Florian, 2020. "Monetary Policy with a Central Bank Digital Currency: The Short and the Long Term," CEPR Discussion Papers 15322, C.E.P.R. Discussion Papers.
• Markus Brunnermeier & Harold James & Jean-Pierre Landau, 2021. "The digitalization of money," BIS Working Papers 941, Bank for International Settlements.
• Wieland, Volker & Feld, Lars, 2020. "The German Federal Constitutional Court Ruling and the European Central Bank's Strategy," CEPR Discussion Papers 15320, C.E.P.R. Discussion Papers.
• Matteo Maggiori, 2021. "FX policy when financial markets are imperfect," BIS Working Papers 942, Bank for International Settlements.
• Monnet, Eric & Puy, Damien, 2020. "Do Old Habits Die Hard? Central Banks and the Bretton Woods Gold Puzzle," CEPR Discussion Papers 15286, C.E.P.R. Discussion Papers.
• Mehl, Arnaud & Stracca, Livio & Ferrari, Massimo Minesso, 2020. "Central bank digital currency in an open economy," CEPR Discussion Papers 15335, C.E.P.R. Discussion Papers.
• 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.
• Auer, Raphael & Frost, Jon & Cornelli, Giulio, 2020. "Rise of the central bank digital currencies: drivers, approaches and technologies," CEPR Discussion Papers 15363, C.E.P.R. Discussion Papers.
• Lucrezia Reichlin & Giovanni Ricco & Matthieu Tarbé, 2021. "Monetary-Fiscal Crosswinds in the European Monetary Union," BIS Working Papers 940, Bank for International Settlements.
• Auer, Raphael & Lein, Sarah & Burstein, Ariel Tomas, 2020. "Exchange Rates and Prices: Evidence from the 2015 Swiss Franc Appreciation," CEPR Discussion Papers 15397, C.E.P.R. Discussion Papers.
• Dell'Ariccia, Giovanni & Agur, Itai & Ari, Anil, 2020. "Designing Central Bank Digital Currencies," CEPR Discussion Papers 15366, C.E.P.R. Discussion Papers.
• Itskhoki, Oleg & Amiti, Mary & Konings, Jozef, 2020. "Dominant Currencies: How firms choose currency invoicing and why it matters," CEPR Discussion Papers 15339, C.E.P.R. Discussion Papers.
• Kaufmann, Christoph, 2021. "Investment funds, monetary policy, and the global financial cycle," ESRB Working Paper Series 119, European Systemic Risk Board.
• Ran Spiegler, 2021. "A Simple Model of Monetary Policy under Phillips-Curve Causal Disagreements," Papers 2105.08988, arXiv.org.
• Kempf, Elisabeth & Fabo, Brian & Jancokova, Martina & Pástor, LuboÅ¡, 2020. "Fifty Shades of QE: Comparing Findings of Central Bankers and Academics," CEPR Discussion Papers 15449, C.E.P.R. Discussion Papers.
• Jeanne, Olivier & Sandri, Damiano, 2020. "Global Financial Cycle and Liquidity Management," CEPR Discussion Papers 15328, C.E.P.R. Discussion Papers.
• Eliphas Ndou, 2020. "Does household net financial wealth explain the asymmetric reaction of household consumption to monetary policy shocks in South Africa?," Working Papers 834, Economic Research Southern Africa.
• Plessen-Mátyás, Katharina & Kaufmann, Christoph & von Landesberger, Julian, 2021. "Funding behaviour of debt management offices and the ECB’s public sector purchase programme," Working Paper Series 2552, European Central Bank.
• Eric Dehay & Nathalie Levy, 2020. "A short history of transparency and central banks in the academic literature," Post-Print hal-03223916, HAL.
• Peydró, José-Luis & Gonzalez, Rodrigo & Blanco Barroso, João Barata R. & van Doornik, Bernardus, 2020. "Countercyclical Liquidity Policy and Credit Cycles: Evidence from Macroprudential and Monetary Policy in Brazil," CEPR Discussion Papers 15274, C.E.P.R. Discussion Papers.
• Repullo, Rafael, 2020. "The Reversal Interest Rate: A Critical Review," CEPR Discussion Papers 15367, C.E.P.R. Discussion Papers.
• Eichengreen, Barry & Naef, Alain, 2020. "Imported or Home Grown? The 1992-3 EMS Crisis," CEPR Discussion Papers 15340, C.E.P.R. Discussion Papers.
• Schmidt, Sebastian & Nakata, Taisuke, 2020. "Expectations-driven liquidity traps: Implications for monetary and fiscal policy," CEPR Discussion Papers 15422, C.E.P.R. Discussion Papers.
• Bacchetta, Philippe & Chikhani, Pauline, 2020. "On the Weakness of the Swedish Krona," CEPR Discussion Papers 15468, C.E.P.R. Discussion Papers.
• Peydró, José-Luis & Fendoglu, Salih & Gulsen, Eda, 2020. "Global Liquidity and Impairment of Local Monetary Policy," CEPR Discussion Papers 15273, C.E.P.R. Discussion Papers.
• Nidhi Aggarwal & Sanchit Arora & Rajeswari Sengupta, 2021. "Capital account liberalisation in a large emerging economy: An Analysis of onshore-offshore arbitrage," Indira Gandhi Institute of Development Research, Mumbai Working Papers 2021-013, Indira Gandhi Institute of Development Research, Mumbai, India.
• Hale, Galina & di Giovanni, Julian, 2020. "Stock Market Spillovers via the Global Production Network: Transmission of U.S. Monetary Policy," CEPR Discussion Papers 15404, C.E.P.R. Discussion Papers.
• Crowley, Meredith A. & Han, Lu & Son, Minkyu, 2020. "Dominant currency dynamics: Evidence on dollar-invoicing from UK exporters," CEPR Discussion Papers 15493, C.E.P.R. Discussion Papers.
• Bonciani, Dario & Oh, Joonseok, 2021. "Unemployment risk, liquidity traps and monetary policy," Bank of England working papers 920, Bank of England.
• Nicola Viegi & Tumisang Loate, 2021. "The transmission of monetary policy via the banks’ balance sheet – does bank size matter?," Working Papers 849, Economic Research Southern Africa.
• Eller, Markus & Hauzenberger, Niko & Huber, Florian & Schuberth, Helene & Vashold, Lukas, 2021. "The impact of macroprudential policies on capital flows in CESEE," ESRB Working Paper Series 118, European Systemic Risk Board.
• Cobus Vermeulen, 2020. "‘Quantitative Easing’ and central bank asset purchases in South Africa: A DSGE approach," Working Papers 841, Economic Research Southern Africa.
• Javier Bianchi & César Sosa Padilla, 2020. "Reserve Accumulation, Macroeconomic Stabilization, and Sovereign Risk," Working Papers 33, Red Nacional de Investigadores en Economía (RedNIE).
• Schoenle, Raphael & Gorodnichenko, Yuriy & Knotek, Edward, 2020. "Average Inflation Targeting and Household Expectations," CEPR Discussion Papers 15307, C.E.P.R. Discussion Papers.
• Federico Sturzenegger, 2020. "How should Central Banks accumulate reserves?," Working Papers 7, Red Nacional de Investigadores en Economía (RedNIE).
• Shigenori Shiratsuka, 2021. "Central Bank Digital Currency and Financial System," Keio-IES Discussion Paper Series 2021-010, Institute for Economics Studies, Keio University.
• Palma, Nuno & Bonfatti, Roberto & Brzezinski, Adam & Karaman, Kivanc, 2020. "Monetary Capacity," CEPR Discussion Papers 15299, C.E.P.R. Discussion Papers.
• Jean-Louis Combes & Pierre Lesuisse, 2021. "Inflation and Unemployment, new insights during the EMU accession," Working Papers hal-03216478, HAL.
• Taylor, Mark & Xu, Qi & Kozhan, Roman, 2020. "Prospect Theory and Currency Returns: Empirical Evidence," CEPR Discussion Papers 15306, C.E.P.R. Discussion Papers.
• Martín Tobal & Renato Yslas, 2021. "A historical perspective on prudential regulation, currency mismatches and exchange rates in Latin America and the Caribbean," Working Papers 70, Red Nacional de Investigadores en Economía (RedNIE).
• Monnet, Eric & Velde, François R., 2020. "Money, Banking, and Old-School Historical Economics," CEPR Discussion Papers 15348, C.E.P.R. Discussion Papers.
• Bertrand Candelon & Angelo Luisi & Francesco Roccazzella, 2021. "Fragmentation in the European Monetary Union: Is it really over?," GRU Working Paper Series GRU_2021_016, City University of Hong Kong, Department of Economics and Finance, Global Research Unit.
• Hassan, Tarek & Zhang, Tony, 2020. "The Economics of Currency Risk," CEPR Discussion Papers 15313, C.E.P.R. Discussion Papers.
• Comin, Diego & Johnson, Robert, 2020. "Offshoring and Inflation," CEPR Discussion Papers 15387, C.E.P.R. Discussion Papers.
• Sauré, Philip & Herkenhoff, Philipp, 2020. "How Expected Inflation Distorts the Current Account and the Valuation Effect," CEPR Discussion Papers 15469, C.E.P.R. Discussion Papers.
• Asongu, Simplice A & Odhiambo, Nicholas M, 2021. "Mobile technology supply factors and mobile money innovation: Thresholds for complementary policies," Working Papers 27333, University of South Africa, Department of Economics.
• Fukker, Gábor & Kok, Christoffer, 2021. "On the optimal control of interbank contagion in the euro area banking system," Working Paper Series 2554, European Central Bank.
• Vedolin, Andrea & Korsaye, Sofonias Alemu & Trojani, Fabio, 2020. "The Global Factor Structure of Exchange Rates," CEPR Discussion Papers 15337, C.E.P.R. Discussion Papers.