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Global stagflation
Ha, Jongrim; Kose, M. Ayhan; Ohnsorge, Franziska - 2022
Persistent link: https://www.econbiz.de/10013262657
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Crunch Time : Fiscal Crises and the Role of Monetary Policy
Greenlaw, David - 2013
Countries with high debt loads are vulnerable to an adverse feedback loop in which doubts by lenders lead to higher sovereign interest rates which in turn make the debt problems more severe. We analyze the recent experience of advanced economies using both econometric methods and case studies...
Persistent link: https://www.econbiz.de/10013077956
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Understanding the Fiscal Theory of the Price Level
Christiano, Lawrence J.; Fitzgerald, Terry J. - 2021
Persistent link: https://www.econbiz.de/10013223567
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The aftermath of debt surges
Kose, M. Ayhan; Ohnsorge, Franziska; Reinhart, Carmen M.; … - 2021
Persistent link: https://www.econbiz.de/10012617494
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Is Monetary Policy Effective During Financial Crises?
Mishkin, Frederic S. - 2010
This short paper argues that the view that monetary policy is ineffective during financial crises is not only wrong, but may promote policy inaction in the face of a severe contractionary shock. To the contrary, monetary policy is more potent during financial crises because aggressive monetary...
Persistent link: https://www.econbiz.de/10012757933
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Will Monetary Policy Become More of a Science?
Mishkin, Frederic S. - 2010
This paper reviews the progress that the science of monetary policy has made over recent decades. This progress has significantly expanded the degree to which the practice of monetary policy reflects the application of a core set of quot;scientific principlesquot;. However, there remains, and...
Persistent link: https://www.econbiz.de/10012759738
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Inflation during the pandemic : what happened? what is next?
Ha, Jongrim; Kose, M. Ayhan; Ohnsorge, Franziska - 2021
Persistent link: https://www.econbiz.de/10012588342
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Monetary Policy in a Financial Crisis
Christiano, Lawrence J.; Gust, Christopher; Roldos, Jorge E. - 2021
What are the economic effects of an interest rate cut when an economy is in the midst of a financial crisis? Under what … ffects? We answer these questions in a general class of open economy models, where a financial crisis is modeled as a time … the traded good sector and in adjusting the rate at which that output can be used in other parts of the economy, then a …
Persistent link: https://www.econbiz.de/10013248087
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Globalization, Macroeconomic Performance, and Monetary Policy
Mishkin, Frederic S. - 2010
The paper argues that many of the exaggerated claims that globalization has been an important factor in lowering inflation in recent years just do not hold up. Globalization does, however, have the potential to be stabilizing for individual economies and has been a key factor in promoting...
Persistent link: https://www.econbiz.de/10012759372
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The Great Depression and the Friedman-Schwartz Hypothesis
Christiano, Lawrence J.; Motto, Roberto; Rostagno, Massimo - 2022
We evaluate the Friedman-Schwartz hypothesis that a more accommodative monetary policy could have greatly reduced the severity of the Great Depression. To do this, we first estimate a dynamic, general equilibrium model using data from the 1920s and 1930s. Although the model includes eight...
Persistent link: https://www.econbiz.de/10013309234