A model of unconventional monetary policy

By M. Gertler, P. Karadi. 2011

2,585 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/a1eef50830dc8bfece234a82c4b884155876319c

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Citations in the corpus

Financial Regulation in a Quantitative Model of the Modern Banking System (2017, positive): “The Role of Banks as Liquidity Providers In this model, households value bank debt because it is liquid(5) and safe, an interpretation of bank debt in Gorton and Pennacchi (1990) and in Gorton et al. (2012). The notion of safe and liquid assets includes bank deposits, money market fund shares, comme”
Loan Supply Shocks During the Financial Crisis: Evidence for the Euro Area (2012, background): “Curdia and Woodford (2010), Gerali et al. (2010), Gertler and Karadi (2009) or Atta-Mensah and Dib (2008) are examples.”
Fiscal policy during a pandemic (2020, background): “This condition is similar to 1 /ρ > 1 in Guerrieri et al. (2020) . Fig. 13 shows what a Keynesian supply shock looks like in this model. I set σa = 0 . 5 and introduce a new shock z t , which reduces the productivity of the services sector. Given that labor is demand-determined in this model, this a”
Modeling Sterilized Interventions and Balance Sheet Effects of Monetary Policy in a New-Keynesian Framework (2013, positive): “1See Curdia and Woodford (2011), and Gertler and Karadi (2011) for a modelling of the credit policy of the central bank.”
Unconventional monetary policies: a re-appraisal (2018, methodology): “Second approach Gertler and Karadi (2013) US (calibrated) DSGE-based counterfactual exercise for QE1 GDP increases by 3.”
Macroeconomic Policy in DSGE and Agent-Based Models (2012, positive): “Moreover, given the strong interactions between financial markets and the real economy showed by the Great Financial crisis, a new vintage of DSGE models (see e.g. Curdia and Woodford, 2010, 2011; Christiano et al., 2011; Gertler and Kiyotaki, 2010; Gertler and Karadi, 2011) has tried to embody the ”
Capital Flows and Financial Stability: Monetary Policy and Macroprudential Responses (2011, neutral): “Following Gertler and Karadi (2011), we set the inverse of the elasticity of intertemporal substitution (σ) equal to 2, the inverse of the elasticity of labor supply (φ) to 1/3, and the weight of labor utility (χ) to 1/4.”
Uncertainty Shocks in a Model of Effective Demand (2011, background): “Recent work by Iacoviello (2011), Gertler and Karadi (2011), and many others focuses on the first-moment effects of the financial market disruption, such as a higher cost of capital and tighter borrowing constraints for households and firms.”
Should Monetary Policy Lean Against the Wind? An Analysis Based on a DSGE Model with Banking (2013, neutral): “r̃ t = ρ r̃ t−1 + (1− ρ) [ φππ̂t + φyŶt + φBB̂t + φq q̂ k t ] (24)”
Financial Globalization, Financial Crises and Contagion (2010, neutral): “Gertler & Karadi (2009) examined the effects of government credit provision to distressed banks.”
How Do Credit Supply Shocks Propagate Internationally? A Gvar Approach (2015, methodology): “In some theoretical models in ation and short-term interest rates rates increase after an adverse credit supply shock (Gerali et al. (2010), Atta-Mensah and Dib (2008)), and in some they decrease (Cúrdia and Woodford (2010), Gertler and Karradi (2009)).”
Macroprudential Policy - A Literature Review (2012, positive): “Gertler and Karadi (2009) model financial intermediation within a quantitative monetary DSGE model that allows for financial intermediaries which face endogenous balance sheet constraints. Gertler and Kiyotaki (2009) focus on disruption in financial intermediation, building on Gertler and Karadi (20”
Macroeconomic Effects of Unconventional Monetary Policy in the Euro Area (2011, neutral): “…are characterized by a signi cant shift in the monetary base or the balance sheet size of the Eurosystem, and 3This focus is di erent from e.g. Gertler and Karadi (2009), who de ne unconventional monetary policy as "direct lending by the central bank in private markets", which is more…”