Haku
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The interaction of monetary and macroprudential policies
(17.06.2019)
Journal of Money, Credit and Banking 4 ; June
Journal of Money, Credit and Banking 4 ; June
I analyze a New Keynesian dynamic stochastic general equilibrium (DSGE) model where the financing of productive investment is affected by a moral hazard problem. I solve for jointly Ramsey‐optimal monetary and macroprudential ...
The Risk-Taking Channel of Monetary Policy in the U.S. : Evidence from Corporate Loan Data
(27.01.2017)
Journal of Money, Credit and Banking 1 ; February
Journal of Money, Credit and Banking 1 ; February
To study the presence of a risk-taking channel in the U.S., we build a comprehensive data set from the syndicated corporate loan market and measure monetary policy using different measures, most notably Taylor (1993) and ...