We study the transmission of monetary policy through risk premia in a heterogeneous agent
New Keynesian environment. Heterogeneity in households' marginal propensity to take risk …

Why do some financial crises lead to macroeconomic disasters, while others barely affect
the real economy? This paper proposes a model to study unusually deep financial crises …

This article aims to highlight the nonlinearity of the reaction function of the Central Bank of
West African States (BCEAO) through financial stability. Using the smooth threshold …

Digital currencies provide a potential form of liquidity competing with bank deposits. We
introduce digital currency into a macro model with a financial sector in which financial …

This paper examines whether capital flow management and monetary policies effectively
reduce credit growth in emerging market economies in the presence of both conventional …

Money has been the foundational layer for economic activity throughout the history of human
civilisations. Sound money that can be reliably used as a store of value, a medium of …

We present a method of parameter estimation for large class of nonlinear systems, namely
those in which the state consists of output derivatives and the flow is linear in the parameter …

When financial intermediaries' key characteristic is provision of liquidity through their
liabilities, with financial frictions, the financial sector in the aggregate is likely to …

The observations made in this study were used to evaluate the diagnostic stability of the
Philippine Central Bank's selected monetary policy targets, namely, the Gross Domestic …

The thesis at hand pursues better understanding of the role of boundedly rational
expectations, agents' heterogeneity and heuristics-based decision making in the macro …