Anzeige der Publikationen 1-10 von 47
Central Bank Reputation, Cheap Talk and Transparency as Substitutes for Commitment
We implement a repeated version of the Barro-Gordon monetary policy game in the laboratory and ask whether reputation serves as a substitute for commitment, enabling the central bank to achieve the efficient Ramsey equilibrium ...
Forward Guidance under Disagreement
Evidence from the Fed's Dot Projections
This paper compares the effectiveness of date- and state-based forward guidance issued by the Federal Reserve since mid-2011 accounting for the influence of disagreement within the FOMC. Effectiveness is investigated through ...
The Impact of a Negative Labor Demand Shock on Fertility
Evidence from the Fall of the Berlin Wall
How does a negative labor demand shock impact individual-level fertility? I analyze this question in the context of the East German fertility decline after the fall of the Berlin Wall in 1989. Exploiting differential ...
Beta-boosted ensemble for big credit scoring data
In this work we present a novel ensemble model for a credit scoring problem. The main idea of the approach is to incorporate separate beta binomial distributions for each of the classes to generate balanced datasets that ...
Implications of Shadow Bank Regulation for Monetary Policy at the Zero Lower Bounds
Counter to the credit channel of monetary transmission, monetary policy tightening induces a rise in lending by two different types of non-bank financial institutions (NBFI): shadow banks and investment funds. A monetary ...