Now showing items 1-4 of 4

    • A Note on the role of bank capital 

      Guender, A.V.; Peng, Y. (University of Canterbury. Department of Economics and Finance, 2014)
      This note explores how a bank’s balance sheet responds to a capital shock in a simple model of the banking firm where both loan demand and deposits are sensitive to a bank’s capital position relative to its competitors. ...
    • The predictive ability of a risk-adjusted yield spread for economic activity in Europe 

      Guender, A.V.; Tolan, B. (University of Canterbury. Department of Economics and Finance, 2016)
      This paper examines whether the pricing of risk is important for macroeconomic activity at the country level. We design a risk-adjusted yield spread and test its predictive content for economic activity on the periphery ...
    • Real-Exchange-Rate-Adjusted Inflation Targeting in an Open Economy: Some Analytical Results 

      Froyen, R.T.; Guender, A.V. (University of Canterbury. Department of Economics and Finance, 2015)
      Policymakers in small open economies around the world are increasingly concerned about the undesirable consequences of sudden increases in U.S. interest rates. This paper demonstrates that in a small open economy a central ...
    • What to Aim for? The Choice of an Inflation Objective when Openness Matters 

      Froyen, R.T.; Guender, A.V. (University of Canterbury. Department of Economics and Finance, 2016)
      Inflation targeting countries generally define the inflation objective in terms of the consumer price index. Studies in the academic literature, however, reach conflicting conclusions concerning which measure of inflation ...