The redistributive effects of forward guidance
Sign Up to like & getrecommendations! Published in 2019 at "Economics Letters"
DOI: 10.1016/j.econlet.2019.06.008
Abstract: Abstract We examine the redistributive effects of forward guidance under the zero lower bound. We show that the effects of forward guidance depend on savers’ asset positions and the nature of financial frictions. If borrowers… read more here.
Keywords: redistributive effects; forward guidance; guidance; effects forward ... See more keywords
Demand Effects in the FX Forward Market: Micro Evidence from Banks’ Dollar Hedging
Sign Up to like & getrecommendations! Published in 2020 at "Review of Financial Studies"
DOI: 10.1093/rfs/hhaa123
Abstract: Using contract-level supervisory data, we show that dollar forward sales by non-U.S. banks that are initiated at the end of a quarter and mature shortly after it concludes trade at higher prices and higher volumes.… read more here.
Keywords: dollar; demand effects; market micro; effects forward ... See more keywords