Showing 1 - 10 of 15
This paper proposes a simple framework for analyzing a continuum of monetary policy rules characterized by differing degrees of credibility, in which commitment and discretion become special cases of what we call quasi commitment. The monetary policy authority is assumed to formulate optimal...
Persistent link: https://www.econbiz.de/10001783067
This paper proposes a simple framework for analyzing a continuum of monetary policy rules characterized by differing degrees of credibility, in which commitment and discretion become special cases of what we call quasi commitment. The monetary policy authority is assumed to formulate optimal...
Persistent link: https://www.econbiz.de/10005526290
This paper proposes a model to investigate the effects of monetary policy in an emerging market economy that experiences a sudden stop of capital inflows. The model features credit frictions, debt denominated in foreign currency, imported inputs, and households that have access to the...
Persistent link: https://www.econbiz.de/10005420493
This paper analyzes how changes in monetary policy regimes influence the business cycle in a small open economy. We estimate a dynamic stochastic general equilibrium (DSGE) model on Swedish data, explicitly taking into account the 1993 monetary regime change, from exchange rate targeting to...
Persistent link: https://www.econbiz.de/10005420504
Remarks at the ACI 2010 World Congress, Sydney, Australia.
Persistent link: https://www.econbiz.de/10010724944
Remarks at the National Association for Business Economics Policy Conference, Arlington, Virginia
Persistent link: https://www.econbiz.de/10010724972
Remarks at Global Interdependence Center Central Banking Series Event, Federal Reserve Bank of Philadelphia.
Persistent link: https://www.econbiz.de/10010725012
Remarks by Brian P. Sack before the Money Marketeers of New York University, New York City.
Persistent link: https://www.econbiz.de/10010725044
Remarks at the Annual Meeting with Primary Dealers, New York City.
Persistent link: https://www.econbiz.de/10010725048
We simulate the Federal Reserve second Large-Scale Asset Purchase program in a DSGE model with bond market segmentation estimated on U.S. data. GDP growth increases by less than a third of a percentage point and inflation barely changes relative to the absence of intervention. The key reasons...
Persistent link: https://www.econbiz.de/10011026923