Market Tantrums and Monetary Policy

By M. Feroli, Anil K. Kashyap, Kermit L. Schoenholtz, Hyun Song Shin. 2014

179 citations recorded by the source corpus.

Subfields: Finance

View Paper: https://www.semanticscholar.org/paper/8de9f508e9303191089039eb5bc82b6902599b42

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Citations in the corpus

Competitive monetary easing: is it yesterday once more? (2014, background): “This means they will hold a risky asset only if it promises a risk premium (over safe assets) that makes them confident they will not underperform holding it (Feroli et al. 2014).”
Global dollar credit: links to US monetary policy and leverage (2015, unknown): “The bond fund flow indicator is constructed following Feroli et al (2014) using the first principal component of emerging markets, high-yield, investment grade, and mortgage-backed bond fund net inflows adjusted by assets under management.”
WHAT DRIVES CAPITAL FLOWS TO EMERGING MARKETS? A SURVEY OF THE EMPIRICAL LITERATURE (2018, unknown): “In recent years, the literature has increasingly focused on high-frequency data sources serving as proxies for EM capital flows, such as fund flows data (see, for example, Fratzscher et al. 2012; Lo Duca 2012; Feroli et al. 2014).”
Monetary Policy, Financial Conditions, and Financial Stability (2014, background): “Feroli et al. (2014) and Morris and Shin (2014) posit that unlevered asset managers who are evaluated based on their relative performance provide a channel for monetary policy to generate sharp rises in risk premia not related to changes in fundamentals.”
Redemption risk and cash hoarding by asset managers (2017, background): “When decision horizons are shortened due to short-term performance evaluation, strategic elements may enter into portfolio decisions (see Feroli et al., 2014 ; and Morris and Shin, 2016 ).”
Common risk factors in the cross-section of corporate bond returns (2019, unknown): “3 See Feroli et al. (2014) and the Investment Company Institute Annual”
Effective Macroprudential Policy: Cross‐Sector Substitution from Price and Quantity Measures (2016, background): “Speciﬁcally, nonbank ﬁnancial institutions may contribute to procyclical leverage (Adrian and Shin 2009, 2010), may amplify the impact of price changes and ﬂows (Feroli et al., 2014), and may be subject to misaligned incentives that inﬂuence the overall risk in the system (Rajan 2006).”
Effects of Unconventional Monetary Policy on Financial Institutions (2014, background): “Feroli et al. (2014) discuss how a small tightening of monetary policy could generate a coordinated withdrawal by asset fund managers from riskier assets, resulting in an increase in risk premia.”