The Spending Cap and Monetary Policy Effectiveness by Gustavo Ribeiro, Vladimir Teles, João Costa-Filho published by MPRA (1/2023) What is the impact on the transmission of monetary policy in Brazil under the fiscal ceiling implemented in 2016? We find…
Fiscal Policy under Low Interest Rates by Olivier Blanchard published by MIT Press Direct (2023). Rethinking fiscal and monetary policy in an economic environment of high debt and low interest rates. Policy makers in advanced economies find themselves in…
Herd behaviour in asset markets: the role of monetary policy by Stefano Micossi published by VOXEU (10/2019). “Robert Shiller’s influential book, Irrational Exuberance (Shiller 2015), dealt powerful blows to the hypothesis of efficient capital markets by describing in remarkable…
Corporate bond markets in a time of unconventional monetary policy published by OECD (2019). “Since the financial crisis in 2008, non-financial companies have dramatically increased their borrowing in the form of corporate bonds. Between 2008-2018 global corporate bond issuance…
