The lack of liquidity in the interbank market during the crisis of 2007–2011 led governments
to impose different policies to rescue their countries' banking sectors. While in advanced …

We provide evidence that the strength of the bank lending channel varies considerably
across three major events in the European sovereign debt crisis-the Greek debt restructuring …

本文在DSGE 框架下引入金融冲击, 比较完整地刻画了包含货币政策, 宏观审慎政策以及流动性
支持政策的央行政策工具箱, 并对中央银行的流动性支持政策在不同外生冲击下的经济金融稳定 …

The real estate market is similar to stock markets in one aspect. Financial markets and real
estate markets have irrational participants and under incomplete information, these …

The paper estimates macroeconomic effects and decomposes transmission channels of
quantitative easing in the United States using 15-variable Bayesian vector autoregressive …

This dissertation consists of three self-contained essays which study the conventional and
unconventional monetary policies adopted by the Federal Reserve, their impacts and effects …

This dissertation presents two empirical studies on how financial policy design affects
outcomes for firms and individuals. The first study provides evidence that reorganization is …

With interest rates at their zero lower bound, Quantitative Easing (QE) has been the Federal
Reserve Bank's (Fed) policy of choice to deal with the recent economic crisis. We examine …

SOMMAIRE À la suite de la Grande Récession, la plupart des pays développés ont connu
des déséquilibres macroéconomiques persistants, et ont dû implémenter des mesures …

A year ago at another IMF conference,“Monetary Policy in the New Normal,” I argued that
central banks should renormalize monetary policy, not new-normalize it to some new normal …