 | U.S. Dollar Dynamics : How Important Are Policy Divergence and FX Risk Premiums? Author/Editor: Ravi Balakrishnan, Stefan Laseen, Andrea Pescatori. Release Date:July, 2016 We investigate the drivers of dynamics of major U.S. FX bilaterals. We first construct a novel measure of FX risk premiums using Consensus exchange rate forecasts. We then use VAR analysis to show more...
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| Did the Global Financial Crisis Break the U.S. Phillips Curve? Author/Editor: Stefan Laseen, Marzie Taheri Sanjani. Release Date:July, 2016 Inflation dynamics, as well as its interaction with unemployment, have been puzzling since the Global Financial Crisis (GFC). In this empirical paper, we use multivariate, possibly time-varying, more...
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| Financial Stability and Interest-Rate Policy : A Quantitative Assessment of Costs and Benefits Author/Editor: Andrea Pescatori, Stefan Laseen. Release Date:March, 2016 Should monetary policy use its short-term policy rate to stabilize the growth in household credit and housing prices with the aim of promoting financial stability? We ask this question for the case more...
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| Effects of Monetary and Macroprudential Policies on Financial Conditions : Evidence from the United States Author/Editor: Aleksandra Zdzienicka, Sally Chen, Federico Diaz Kalan, Stefan Laseen, Katsiaryna Svirydzenka. Release Date:December, 2015 The Global Financial Crisis has reopened discussions on the role of the monetary policy in
 preserving financial stability. Determining whether monetary policy affects financial
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| Systemic Risk : A New Trade-off for Monetary Policy? Author/Editor: Stefan Laseen, Andrea Pescatori, Jarkko Turunen. Release Date:June, 2015 We introduce time-varying systemic risk in an otherwise standard New-Keynesianmodel to study whether a simple leaning-against-the-wind policy can reduce systemic riskand improve welfare. We find that more...
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