The effect of banking supervision on central bank preferences: evidence from panel data

Monetary policy is a central bank's actions to influence how much money is in the economy and how much it costs to borrow, with the aim of keeping inflation low and stable. Since the financial crisis of 2007 and 2008, central banks around the world have taken extreme monetary policy measures to recover the pre-crash dynamism of their economies.

Our research focuses on how to assess the impacts of monetary policy measures on and via the financial markets, and on indicators in the economy. Additionally, it examines related fields that belong to the category of macroeconometrics.

Our research covers the following topics

Decision-making on stock and housing market regimes
How stock and oil markets are affected by uncertainty about macroeconomic policy
Central banks’ economic and institutional characteristics
The correlation between monetary policy and economic growth
The interaction between central banks and the financial market
Design and instruments of monetary policy

Methods

Our research includes a variety of cutting edge techniques from the area of applied macroeconometrics and financial econometrics.

Funders and publications

Our research has been funded by the Great Britain Sasakawa Foundation and the Toshiba International Foundation, and published in the Journal of International Financial Markets, Institutions and Money; Economics Letters; Journal of Economic Issues; Journal of Macroeconomics; European Journal of Finance; and the International Review of Financial Analysis.

Publication highlights

Chatziantoniou, I., Filis, G., & Floros, C. (2017). Global Finance Journal, volume 32, pages 97-112.
Mahadeo, S.M.R., Heinlein, R. & Legrenzi, G. (2022). The North American Journal of Economics and Finance, 60, p. 101629.
Chortareas, G., Magkonis, G. & Zekente, K.-M. (2020). International Review of Financial Analysis, 67, p. 101421.
Stenfors, A., & Susai, M. (2018). Journal of Economic Issues, volume 52(2), pages 387-395.
Arestis, P., Chortareas, G., Magkonis, G., & Moschos, D. (2014). Journal of International Financial Markets, Institutions and Money, volume 31, pages 285-295.
Magkonis, G., & Zekente, K-M. (2020). Journal of Macroeconomics, volume 65.
Oh, E.Y. & Zhang, S. (2022). Economic Inquiry, 60(4), pages 1520–1539.
Stenfors, A. (2018). Journal of Securities Operations & Custody, volume 11(1).
Heinlein, R. and Mahadeo, S.M. (2023). Canadian Journal of Economics/Revue canadienne d'économique, 56(1), pp. 247–287.
Chortareas, G., Logothetis, V., Magkonis, G., & Zekente, K. (2016). Economics Letters, volume 140, pages 11-13.