US Monetary Policy, Exchange Rates, and Delayed Portfolio Adjustments

Are there asymmetries in euro area monetary policy?

Stock Market Responses to Monetary Policy Shocks: Universal Firm-Level Evidence ∗

Research Division Federal Reserve Bank of St. Louis Working Paper Series Price Level Targeting and Stabilization Policy

Monetary Policy Transmission Through Banking

This paper examines monetary policy transmission to bank lending and deposit rates in Eswatini under a pegged exchange rate regime. Using local projections, it finds that pass-through is driven primarily by the South African Reserve Bank policy rate, while changes in the CBE discount rate have limited effects on deposi...

Volatility Shocks and Economic Activity” PIER Working Paper 11-022

Are there asymmetries in euro area monetary policy transmission?

We answer the question posed in the title with a nonlinear mixed-frequency vector autoregression, estimated with Bayesian additive regression trees. The model combines monthly macro-financial variables with quarterly bank lending survey data, and identifies the dynamic responses from high-frequency policy surprises. Si...