Abstract We show that the path of inflation under quantitative easing policies target interest rates, is determinate in presence default. achieve this through different payoff profiles a collateralised defaultable bond achieves states nature with distinct default outcomes. In model, heterogeneous households trade and other shorter maturity risk-free bonds to maximize their intertemporal utility...

The global spread of COVID-19 in 2020 has led to a decrease lending and an increase bank credit risk due decline debtor performance. As effort mitigate this impact, banking authorities various countries have issued guidelines related easing loan terms conditions for debtors affected by COVID-19. Indonesian government through the OJK several national economic stimulus policies that provide conce...

What problem the Fed and other central banks are solving by printing money letting interest rates fall to zero is focus of this paper. This activity does not appear affect nominal GDP or inflation prior COVID, yet bank liabilities have continued rise. suggests presence rising cash demand that has prevented excess pressures from emerging. While there was some hope quantitative easing would be a ...

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