2019
DOI: 10.1016/j.jmacro.2019.01.004
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Economic growth in the era of unconventional monetary instruments: A FAVAR approach

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Cited by 18 publications
(14 citation statements)
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“…The response remains strong also during the period when the interest rate was constrained. That large economies can achieve strong results using unconventional monetary policy is in line with previous results of Fiorelli and Meliciani (2019). For Sweden, a comparison of the results with the model based on the short interest rate (Figures 1, 2, 9, 4) to those with the shadow rate ( Figures 7, 8, 10, 11) gives small differences.…”
Section: Shadow Ratesupporting
confidence: 89%
“…The response remains strong also during the period when the interest rate was constrained. That large economies can achieve strong results using unconventional monetary policy is in line with previous results of Fiorelli and Meliciani (2019). For Sweden, a comparison of the results with the model based on the short interest rate (Figures 1, 2, 9, 4) to those with the shadow rate ( Figures 7, 8, 10, 11) gives small differences.…”
Section: Shadow Ratesupporting
confidence: 89%
“…Consequently, apex banks use unorthodox monetary strategy instruments to resolve the disruption in the transmission system and fuel aggregate demand and financial markets [41]; [8], and [3], by changing the synthesis of the central banks' financial position through large scale asset purchase [10]; [45]; [67]. The impact of unorthodox Method to the competitive sector is less immediate and less evident because the results of such interventions influence macroeconomic conditions implicitly [27]. However, deposit and lending interest rate decreases at figures compelled to nil and lower in accordance with previous observational research [21]; [38]; [45].…”
Section: Introductionmentioning
confidence: 99%
“…Therefore, this study is of the objective to ascertain the extent to which unconventional monetary policy(UMP) measured by CBN asset to GDP ratio and the insurance of deposits impacts on the efficiency of Nigerian banks for money deposit based on asset return, equity earnings and Net Margin of interest when accounting for specific bank indicators in Nigeria taking into consideration the pre and post unorthodox monetary stance implementation in the Nigerian financial sector using the panel data regression analysis. Although there is a considerable empirical evidence of the greater economic effects of eccentric financial policies [10]; [70]; [27]. Less amount of research has evaluated the U.M.P on the financial progress of bank for money deposit in developing economies [39]; [48]; [45].…”
Section: Introductionmentioning
confidence: 99%
“…Consequently, apex banks use unorthodox monetary strategy instruments to resolve the disruption in the transmission system and fuel aggregate demand and financial markets [41]; [8], and [3], by changing the synthesis of the central banks' financial position through large scale asset purchase [10]; [45]; [67]. The impact of unorthodox Method to the competitive sector is less immediate and less evident because the results of such interventions influence macroeconomic conditions implicitly [27]. However, deposit and lending interest rate decreases at figures compelled to nil and lower in accordance with previous observational research [21]; [38]; [45].…”
Section: Introductionmentioning
confidence: 99%
“…Therefore, this study is of the objective to ascertain the extent to which unconventional monetary policy(UMP) measured by CBN asset to GDP ratio and the insurance of deposits impacts on the efficiency of Nigerian banks for money deposit based on asset return, equity earnings and Net Margin of interest when accounting for specific bank indicators in Nigeria taking into consideration the pre and post unorthodox monetary stance implementation in the Nigerian financial sector using the panel data regression analysis. Although there is a considerable empirical evidence of the greater economic effects of eccentric financial policies [10]; [70]; [27]. Less amount of research has evaluated the U.M.P on the financial progress of bank for money deposit in developing economies [ .…”
Section: Introductionmentioning
confidence: 99%