 | Monetary Finance Author/Editor: Itai Agur, Damien Capelle, Giovanni Dell'Ariccia, Damiano Sandri. Release Date:January, 2022 This paper reviews the theoretical arguments in favor and against MF and presents an empirical assessment of the risks that it may pose for inflation. more...
| Price: $20.00
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 | Politically Robust Financial Regulation Author/Editor: Itai Agur. Release Date:January, 2021 The deferred recognition of COVID-induced losses at banks in many countries has reignited the debate on regulatory forbearance. This paper presents a model where the public's own political pressure more...
| Price: $5.00
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| Designing Central Bank Digital Currencies Author/Editor: Itai Agur, Anil Ari, Giovanni Dell'Ariccia. Release Date:November, 2019 We study the optimal design of a central bank digital currency (CBDC) in an environment where agents sort into cash, CBDC and bank deposits according to their preferences over anonymity and security; more...
| Price: $18.00
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| Monetary and Macroprudential Policy Coordination Among Multiple Equilibria Author/Editor: Itai Agur. Release Date:November, 2018 The notion of a tradeoff between output and financial stabilization is based on monetary-macroprudential models with unique equilibria. Using a game theory setup, this paper shows that multiple more...
| Price: $18.00
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| On International Integration of Emerging Sovereign Bond Markets Author/Editor: Itai Agur, Melissa Chan, Mangal Goswami, Sunil Sharma. Release Date:January, 2018 The paper investigates the international integration of EM sovereign dollar-denominated
and local-currency bond markets. Factor analysis is used to examine movements in
sovereign bond more...
| Price: $18.00
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| Products and Provinces : A Disaggregated Panel Analysis of Canada's Manufacturing Exports Author/Editor: Itai Agur. Release Date:September, 2016 The waning of the commodity boom places renewed emphasis on manufacturing as an engine for Canadian growth. However, Canadian manufacturing exports have been relatively stagnant since 2000. While the more...
| Price: $18.00
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| Will Macroprudential Policy Counteract Monetary Policy’s Effects on Financial Stability? Author/Editor: Itai Agur, Maria Demertzis. Release Date:December, 2015 How does monetary policy impact upon macroprudential regulation? This paper models
 monetary policy's transmission to bank risk taking, and its interaction with a regulator's
 more...
| Price: $18.00
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| Bank Risk Within and Across Equilibria Author/Editor: Itai Agur. Release Date:July, 2014 The global financial crisis highlighted that the financial system can be most vulnerable when it seems most stable. This paper models non-linear dynamics in banking. Small shocks can lead from an more...
| Price: $18.00
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 | "Leaning Against the Wind" and the Timing of Monetary Policy Author/Editor: Itai Agur, Maria Demertzis. Release Date:April, 2013 If monetary policy is to aim also at financial stability, how would it change? To analyze this question, this paper develops a general-form framework. Financial stability objectives are shown to make more...
| Price: $18.00
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| Rules, Discretion, and Macro-Prudential Policy Author/Editor: Itai Agur, Sunil Sharma. Release Date:March, 2013 The paper examines the implementation of macro-prudential policy. Given the coordination, flow of information, analysis, and communication required, macro-prudential frameworks will have weaknesses more...
| Price: $18.00
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