The Real Effects of Capital Requirements and Monetary Policy: Evidence from the United Kingdom

2015 ◽  
Author(s):  
Filippo De Marco ◽  
Tomasz Wieladek
2009 ◽  
Vol 39 (2) ◽  
pp. 277-300 ◽  
Author(s):  
Edilean Kleber da Silva Bejarano Aragón ◽  
Marcelo Savino Portugal

In this paper, we check whether the effects of monetary policy actions on output in Brazil are asymmetric. Therefore, we estimate Markov-switching models that allow positive and negative shocks to affect the growth rate of output in an asymmetric fashion in expansion and recession states. In general, results show that: i) the real effects of negative monetary shocks are larger than those of positive shocks in an expansion; ii) in a recession, the real effects of positive and negative shocks are the same; iii) there is no evidence of asymmetry between the effects of countercyclical monetary policies; and iv) it is not possible to assert that the effects of a positive (or negative) shock are dependent upon the phase of the business cycle.


2022 ◽  
Vol 1 (1) ◽  
pp. 47-62 ◽  
Author(s):  
Kenn Taylor

The creative and cultural sectors in the United Kingdom largely exclude the working classes. Even the small number of working-class people who do ‘make it’ into these sectors often find themselves and their work badly treated by those who hold the real power. This article explores some of the experiences of working-class artists navigating the cultural sector and how exclusion, prejudice and precarity impacted and continue to impact them. It takes as its focus the filmmaker Alan Clarke and the playwright Andrea Dunbar, who were at the height of their success in the 1980s. It also considers the writers Darren McGarvey and Nathalie Olah, whose work has achieved prominence in recent years. It is through this focus I hope to demonstrate the long continuum of challenges for working-class creatives. This article also considers how, on the occasions when they are allowed the space they deserve, working-class artists have created powerful shifts in cultural production. Finally, it details some of the changes needed for working-class people to be able to take their rightful place in contributing to cultural life and the societal risks involved if they are denied that place.


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