Discussion paper DP17561 Macroprudential policy with earnings-based borrowing constraints Thomas Drechsel Seho Kim 3 Oct 2022 Financial frictions Macroprudential policy Collateral constraints International Macroeconomics and Finance Monetary Economics and Fluctuations D62 E32 E44 G28
Discussion paper DP17533 Eurozone Government Bond Spreads: A Tale of Different ECB Policy Regimes Sylvester Eijffinger Mary Pieterse-Bloem 7 Sep 2022 Conventional and unconventional monetary policy Economic and monetary union Monetary Economics and Fluctuations E43 E44 E58 G15
Discussion paper DP17529 Public Debt and the Balance Sheet of the Private Sector Hans Gersbach Jean Charles Rochet Ernst-Ludwig von Thadden 4 Aug 2022 Heterogeneous agents Growth Debt Interest Incomplete financial markets Financial Economics Macroeconomics and Growth Public Economics E44 E62
Discussion paper DP17508 Firm net worth, external finance premia and monitoring cost: Estimates based on firm-level data Sarah Lein 27 Jul 2022 Net worth Costly state verification Financial Economics Monetary Economics and Fluctuations E32 E22 E44
Discussion paper DP17479 Macroprudential policy and the role of institutional investors in housing markets Manuel A. Muñoz Frank Smets 17 Jul 2022 Rental housing Real estate funds Loan-to-value ratios Leverage Leakages Monetary Economics and Fluctuations E44 G23 G28
Discussion paper DP17472 Uncertainty Shocks, Capital Flows, and International Risk Spillovers Ozge Akinci Emekli Sebnem Kalemli-Ozcan Albert Queralto 14 Jul 2022 International Finance Financial frictions Risk premia Time-varying uncertainty Intermediary asset pricing Financial spillovers Global financial cycle International Macroeconomics and Finance E32 E44 F41
Discussion paper DP16720 Falling Interest Rates and Credit Reallocation: Lessons from General Equilibrium Vladimir Asriyan Luc Laeven Alberto Martin Alejandro Van der Ghote Victoria Vanasco 1 Jul 2022 Low interest rates Financial frictions Firm heterogeneity Allocation Credit Asset prices Balance sheet channel Optimal monetary policy Monetary Economics and Fluctuations E22 E32 E44 E52
Discussion paper DP16814 A Note on Temporary Supply Shocks with Aggregate Demand Inertia Alp Simsek Ricardo Caballero 30 Jun 2022 monetary policy Interest rates Temporary supply shocks Aggregate demand inertia inflation Policy frontloading Backward guidance Output and inflation gaps The phillips curve Covid-19 Monetary Economics and Fluctuations E21 E32 E43 E44 E52 G12
Discussion paper DP17032 Exorbitant Privilege? Quantitative Easing and the Bond Market Subsidy of Prospective Fallen Angels Viral Acharya Ryan Banerjee Matteo Crosignani Tim Eisert Renée Spigt 20 Jun 2022 Capital misallocation Corporate bond market Investment-grade bonds Bbb rating Large-scale asset purchases (lsap) Credit ratings inflation Financial Economics E31 E44 G21
Discussion paper DP17342 Income Inequality and Job Creation Thomas Drechsel Sebastian Doerr Donggyu Lee 20 Jun 2022 Income inequality Job creation Small businesses Bank lending Household heterogeneity Financial frictions International Macroeconomics and Finance Macroeconomics and Growth D22 D31 E44 L25
Discussion paper DP17394 Preferred Habitat and Monetary Policy Through the Looking-Glass Martin Ellison Giacomo Carboni 18 Jun 2022 General equilibrium Interest rates Preferred habitat Term structure Monetary Economics and Fluctuations E43 E44 E52 G21 G22
Discussion paper DP15163 Monetary Policy and Asset Price Overshooting: A Rationale for the Wall/Main Street Disconnect Ricardo Caballero Alp Simsek 17 Jun 2022 monetary policy Aggregate demand inertia Output gap Asset prices Overshooting Wall/main street disconnect Covid-19 Interest rate lower bound Macroeconomic news Qe/lsaps Financial Economics Monetary Economics and Fluctuations E21 E32 E43 E44 E52 G12
