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April 14, 2020
De effecten van macroprudentieel beleid op de woningmarkt
Publication (in Dutch only)
December 10, 2019
SVARs, the central bank balance sheet and the effects of unconventional monetary policy in the euro area
PublicationThis discussion paper presents further evidence that the most important published estimates of the effects of unconventional monetary policy are not reliable. It is a further elaboration of the ideas in the CPB discussion paper "Do zero and sign restricted SVARs identify unconventional monetary policy shocks in the euro area?". Previous empirical studies seem to show that the unconventional monetary policy of the ECB, also known as balance sheet policy, has a positive effect on growth and inflation. However, this conclusion is unfounded, because institutional features of monetary policy in the euro area make it impossible to identify unexpectedly exogenous variation in monetary policy. →
February 19, 2019
Do zero and sign restricted SVARs identify unconventional monetary policy shocks in the euro area?
PublicationAuthors
- Adam Elbourne (24)
- Rob Luginbuhl (5)
- Jasper Lukkezen (3)
- Albert van der Horst (2)
- Annette Zeilstra (2)
- Beau Soederhuizen (2)
- Bert Kramer (2)
- Bert Smid (2)
- Debby Lanser (2)
- George Gelauff (2)
- Kan Ji (2)
- Katarzyna Grabska (2)
- Leon Bettendorf (2)
- Rutger Teulings (2)
- Alice Zulkarnain (1)
- Benedikt Vogt (1)
- Douwe Kingma (1)
- Fabio Duchi (1)
- Fien van Solinge (1)
- Gerdien Meijerink (1)
- Henk Kranendonk (1)
- Jason Rhuggenaath (1)
- Johannes Hers (1)
- Joris de Wind (1)
- Karen van der Wiel (1)
- Kasia Grabska (1)
- Lu Zhang (1)
- Nicoleta Ciurila (1)
- Sander Lammers (1)
- Sem Duijndam (1)
- Yvonne Adema (1)
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