금융 | A Regime-Switching Model of the Yield Curve at the Zero Bound | 한국금융연구원

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2013-11-12 일자  [제 13-87 호]

A Regime-Switching Model of the Yield Curve at the Zero Bound
FRB of San Francisco (2013-11-11)

This paper presents a regime-switching model of the yield curve with two states: a normal state and a zero-bound state for the case when the monetary policy target rate is stuck at the nominal zero bound, as the U.S. economy has b ..  more

Central bank refinancing, interbank markets and the hypothesis of liquidity hoarding: evidence from a euro-area banking system
ECB (2013-11-11)

This paper tests the hypothesis of liquidity hoarding in the Italian banking system during the 2007-2011 global financial crisis. According to this hypothesis, in periods of crisis, interbank markets stop working and central banks ..  more

Coordinating Monetary and Macroprudential Policies
FRB of New York (2013-11-11)

The financial crisis has prompted macroeconomists to think of new policy instruments that could help ensure financial stability. Policymakers are interested in understanding how these should be set in conjunction with monetary pol ..  more

제 목	발행기관	발행일자
Aggregate Supply in the United States: Recent Developments and Implications for the Conduct of Monetary Policy	FRB	13-11-11
The Federal Reserve's Framework for Monetary Policy - Recent Changes and New Questions	FRB	13-11-11
Who Works for Startups? The Relation between Firm Age, Employee Age, and Growth	FRB	13-11-11
Coordinating Monetary and Macroprudential Policies	FRB of New York	13-11-11
The Effects of Policy Guidance on Perceptions of the Fed's Reaction Function	FRB of New York	13-11-11
A Regime-Switching Model of the Yield Curve at the Zero Bound	FRB of San Francisco	13-11-11
Creating Jobs Via the 2009 Recovery Act: State Medicaid Grants Compared to Broadly-Directed Spending	FRB of St. Louis	13-11-11
Heritage Employment Report: What U.S. Can Learn from Canada's Recession and Recovery	Heritage	13-11-11
Supply and Demand: Why Job Growth Remains Sluggish	Heritage	13-11-11
Organizing for change through social technologies: McKinsey Global Survey results	McKinsey	13-11-12
Dynamic Financial Constraints: Distinguishing Mechanism Design from Exogenously Incomplete Regimes	NBER	13-11-12
Financial Obstacles and Inter-Regional Flow of Funds	NBER	13-11-12
Moral Hazard, Informed Trading, and Stock Prices	NBER	13-11-12
Russia's Fiscal Gap	NBER	13-11-12
The Term Structure of Currency Carry Trade Risk Premia	NBER	13-11-12
Valuing Private Equity	NBER	13-11-12
Wait-and-See: Investment Options under Policy Uncertainty	NBER	13-11-12

제 목	발행기관	발행일자
Financial Market Report 2/2013	Bank of Finland	13-11-11
Choosing the variables to estimate singular DSGE models	Bank of France	13-11-11
The Impact of Worker Bargaining Power on the Organization of Global Firms	Bank of France	13-11-11
Voting in committee: firm value vs. back scratching	Bank of France	13-11-11
Are European sovereign bonds fairly priced? The role of modeling uncertainty	Bank of Netherlands	13-11-11
Reactions of real yields and inflation expectations to forward guidance in the United States	Bank of Netherlands	13-11-11
Agglomeration matters for trade	Bank of Spain	13-11-11
Fiscal policy and external imbalances in a debt crisis: the Spanish case	Bank of Spain	13-11-11
Prospects for regulatory convergence under TTIP	Bruegel	13-11-11
Aggregation and Labor Supply Elasticities	CEPR	13-11-11
Financing Through Asset Sales	CEPR	13-11-11
Forward Guidance by Inflation-Targeting Central Banks	CEPR	13-11-11
Production vs Revenue Efficiency With Limited Tax Capacity: Theory and Evidence From Pakistan	CEPR	13-11-11
Sovereign risk and belief-driven fluctuations in the euro area	CEPR	13-11-11
Understanding Money Demand in the Transition from a Centrally Planned to a Market Economy	CEPR	13-11-11
The Effect of Non-Linearity Between Credit Conditions and Economic Activity on Density Forecasts	Czech National Bank	13-11-11
Coalition talks: In search of a big spender	DB Research	13-11-11
Interest rate risk and the Swiss solvency test	Deutsche Bundesbank	13-11-11
Central bank refinancing, interbank markets and the hypothesis of liquidity hoarding: evidence from a euro-area banking system	ECB	13-11-11
Competition in the Portuguese economy: insights from a profit elasticity approach	ECB	13-11-11
Foreign investors and risk shocks: seeking a safe haven or running for the exit?	ECB	13-11-11
High frequency trading and price discovery	ECB	13-11-11
How do firms in Argentina get financing to export?	ECB	13-11-11
Is quantity theory still alive?	ECB	13-11-11
Optimal control with heterogeneous agents in continuous time	ECB	13-11-11
Setting countercyclical capital buffers based on early warning models: would it work?	ECB	13-11-11
Predicting the Spread of Financial Innovations: An Epidemiological Approach	Sveriges Riksbank	13-11-11

제 목	발행기관	발행일자
Supply Chains and Credit-Market Shocks: Some Implications for Emerging Markets	ADBI	13-11-11
Downward Rigidity in Households' Price Expectations	Bank of Japan	13-11-11
Payment and Settlement Systems Report 2012-2013	Bank of Japan	13-11-11
A Quest for Leading Indicators of the Turkish Unemployment Rate	Central Bank of the Republic of Turkey	13-11-11
Asymmetric Behaviour of Inflation around the Target in Inflation-Targeting Emerging Markets	Central Bank of the Republic of Turkey	13-11-11
China starting to regulate shadow banking	NRI	13-11-12
Economic Impacts of FTAs on Trade in Services: Some empirics in East Asia	RIETI	13-11-12
Political Economy of Trade Liberalization: The case of postwar Japan	RIETI	13-11-12
The Sophistication of East Asian Exports	RIETI	13-11-12

제 목	발행기관	발행일자
OTC derivatives market activity in the first half of 2013	BIS	13-11-11
Cyclical Fiscal Rules for Oil-Exporting Countries	IMF	13-11-12
Global Factors in the Term Structure of Interest Rates	IMF	13-11-12
Spillovers to and from the Nordic Economies: A Macroeconometric Model Based Analysis	IMF	13-11-12
The Curious Case of the Yen as a Safe Haven Currency: A Forensic Analysis	IMF	13-11-12
The International Monetary System: Where Are We and Where Do We Need to Go?	IMF	13-11-12
Attracting foreign direct investment : what can South Asia's lack of success teach other developing countries ?	World Bank	13-11-12
Coping with urban fiscal stress around the world	World Bank	13-11-12
Market facilitation by local government and firm efficiency : evidence from China	World Bank	13-11-12

제 목	발행기관	발행일자
Abenomics Buoys Investors' Confidence	AWSJ	13-11-12
Bank of America, Freddie Mac in Talks to Settle Mortgage Dispute	AWSJ	13-11-12
Abenomics Faces Emerging Pressures	AWSJ	13-11-11
U.S. Seeks $864 Million from Bank of America Over 'Hustle' Loans	AWSJ	13-11-11
U.S.-EU Trade Talks Aim at Barriers, Not Tariffs	AWSJ	13-11-11
India Releases Rules for Foreign Banks	AWSJ	13-11-07
BOJ Governor Calls Easing Steps Successful	AWSJ	13-11-06
ECB Comes Under Pressure Over Low Inflation	AWSJ	13-11-06
EU Expects Sluggish Growth, High Unemployment to Persist	AWSJ	13-11-06
Euro Zone's Fizzling Growth Seen to Back Draghi Cut Case	Bloomberg	13-11-12
Treasury 10-Year Note Gains on Speculation Fed to Keep Rates Low	Bloomberg	13-11-07
Fed's Williams Says Economic Data Disappointing With No Pickup	Bloomberg	13-11-06
New Zealand Jobs Growth Adds to Case for RBNZ Rate Rise: Economy	Bloomberg	13-11-06
Prospect of a deal on Volcker rule worries banks	Financial Times	13-11-12
Regulators add ICBC to financial stability risk league table	Financial Times	13-11-12
Shadow banks reap Fed rate reward	Financial Times	13-11-12
BoE approach risks sharp and sudden rate rise	Financial Times	13-11-07
Tumbling US oil price transforms trading	Financial Times	13-11-07
AIG poised to sue banks over MBS mis-selling claims	Financial Times	13-11-06