Measuring the Stance of Monetary Policy in Zero Lower Bound Environments

By Leo Krippner. 2013

431 citations recorded by the source corpus.

Subfields: Computational Theory and Mathematics, Neurology

View Paper: https://www.semanticscholar.org/paper/072754a5bd42cd39b6af5da62e57b164afe70f72

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Computational Theory and Mathematics

1. Philipp Meinen
2. Jean-Guillaume Sahuc
3. Pablo Burriel
4. Sarah Mouabbi
5. Oke Röhe
6. A. Galesi

In Neurology

1. Philipp Meinen
2. Jean-Guillaume Sahuc
3. Pablo Burriel
4. Sarah Mouabbi
5. Oke Röhe
6. A. Galesi

Citations in the corpus

• On Measuring Uncertainty and its Impact on Investment: Cross-Country Evidence from the Euro Area (2017, positive): “More precisely, we include industrial production of the main industrial grouping “capital goods” (IPC), which is our proxy of investment activity due to its availability at a monthly frequency,21 and industrial production of non-capital goods (IPNC), which aims to control for general 18 Following Bl”
• A Shadow Policy Rate to Calibrate US Monetary Policy at the Zero Lower Bound (2014, neutral): “…major asset purchase programs implemented by the Federal Reserve: LSAP1 (November 2008), LSAP2 (November 2010), MEP (September 2011), LSAP3 (September 2012), and the tapering of asset purchases (January 2014). a monetary tightening, and the Krippner (2013a) rate shows a slow and moderate decline.”
• A Tie That Binds: Revisiting the Trilemma in Emerging Market Economies (2017, neutral): “T-bill rate, we consider the shadow Fed funds rate (Krippner, 2013), but this does not make much difference to the results.”
• A Tractable Framework for Zero-Lower-Bound Gaussian Term Structure Models (2013, neutral): “That phenomenon has already been established empirically for two examples, i.e. for a one-factor CAB-GATSM in Krippner (2013), and a restricted three-factor CAB-GATSM in Christensen and Rudebusch (2013).”
• Evaluating the Macroeconomic Effects of the ECB's Unconventional Monetary Policies (2019, positive): “It can therefore be used as a convenient indicator for measuring the total accommodation provided by both conventional and unconventional policies (Krippner, 2013; Wu and Xia, 2016).”
• Uncovering the heterogeneous effects of ECB unconventional monetary policies across euro area countries (2016, positive): “We verify our claim by comparing the impulse responses to an orthogonal shock to the shadow interest rate, which is a recently popularized indicator of the monetary policy stance when nominal interest rates reach the zero lower bound, see for instance Krippner (2013) and Wu and Xia (2016).”
• Estimating the Real Effects of Uncertainty Shocks at the Zero Lower Bound (2017, neutral): “23The idea of the shadow rate has also been explored by, among others, Krippner (2013) and Christensen and Rudebusch (2015).”