Accurate, Focused Research on Law, Technology and Knowledge Discovery Since 2002

You Are Here: Home » Archives: August 2012

Daily Archives: August 23, 2012

The Effectiveness of Unconventional Monetary Policy at the Zero Lower Bound

by on

The Effectiveness of Unconventional Monetary Policy at the Zero Lower Bound, by Leonardo Gambacorta, Boris Hofmann and Gert Peersman, Working Papers No 384, August 2012

  • “This paper assesses the macroeconomic effects of unconventional monetary policies by estimating a panel VAR with monthly data from eight advanced economies over a sample spanning the period since the onset of the global financial crisis. It contends that an exogenous increase in central bank balance sheets at the zero lower bound leads to a temporary rise in economic activity and consumer prices. The estimated output effects turn out to be qualitatively similar to the ones found in the literature on the effects of conventional monetary policy, while the impact on the price level is weaker and less persistent. Individual country results suggest that there are no major differences in the macroeconomic effects of unconventional monetary policies across countries, despite the heterogeneity of the measures that were taken.”
  • Related postings on financial system

    • FCC Approves Verizon Wireless-SpectrumCo Transaction

    by on

    News release: “The Federal Communications Commission has concluded its review of the Verizon Wireless-SpectrumCo deal and approved four significant spectrum transfer applications involving Verizon Wireless, subject to a number of binding commitments and conditions. The applications include, among other things, the assignment of AWS-1 licenses held by Cox and SpectrumCo (a joint venture among subsidiaries… Continue Reading

    CBO Releases Latest Quarterly Report on ARRA’s Effect on Output and Employment

    by on

    “As required by law, CBO prepares regular reports on its estimate of the number of jobs created by the American Recovery and Reinvestment Act of 2009 (ARRA), which was enacted in response to significant weakness in the economy. In its latest report issued this afternoon, CBO provides estimates of ARRA’s impact on employment and economic… Continue Reading

    State and Local Governments Employ 16.4 Million Full-Time Equivalent Employees in 2011

    by on

    “In March 2011, there were 16.4 million full-time equivalent employees working in state and local governments in the U.S., down 1.4 percent from 2010. According to estimates released today by the U.S. Census Bureau, the majority of these employees (8.9 million) worked in education, followed by those working in hospitals (964,381), police protection (923,951) and… Continue Reading

    Guide to Reporting at the 2012 Republican and Democratic National Conventions

    by on

    Citizen Media Law Project: “This page hosts our Guide to Reporting at the 2012 Republican and Democratic National Conventions, and related resources. Future updates regarding the 2012 conventions will appear on this page. More than ten thousand journalists are expected to attend the Republican and Democratic National Conventions in Tampa and Charlotte in the late… Continue Reading

    You’ve Got to Walk Before You Can Run: First Steps for Managing Born-Digital Content Received on Physical Media

    by on

    “This report is geared to those tasked with gaining preliminary control over the digital media in an archives’ collections, including those who don’t know where to begin in managing born-digital materials. Written by Senior Program Officer Ricky Erway, You’ve Got to Walk Before You Can Run: First Steps for Managing Born-Digital Content Received on Physical… Continue Reading

    Diabetes Report Card 2012: National and State Profile of Diabetes and Its Complications

    by on

    “This Diabetes Report Card 2012 is required under the Catalyst to Better Diabetes Care Act of 2009, which is part of the Patient Protection and Affordable Care Act (Section 10407 of Public Law 111-148, hereafter called the Affordable Care Act). The act states that the report card should be published by the Centers for Disease… Continue Reading

    Non-Resiliency of Foreign Direct Investment in the United States During the 2007–2009 Financial Crisis

    by on

    Contessi, Silvio and De Pace, Pierangelo, Non-Resiliency of Foreign Direct Investment in the United States During the 2007–2009 Financial Crisis (August 2012). Pacific Economic Review, Vol. 17, Issue 3, pp. 368-390, 2012. Available at SSRN “We study the contraction of foreign direct investment (FDI) flows in the United States during the recent financial crisis and… Continue Reading