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Imperfect competition, monetary policy and welfare in a currency area

Lombardo, Giovanni - 2002

auf die Wohlfahrt und die optimale Geldpolitik. Betrachtet werden zwei Möglichkeiten, wie die Wettbewerbsintensität am … die Geldpolitik effektiver sein, wenn die Länder größere Asymmetrien aufweisen. Diese Ergebnisse legen es nahe, dass die … intensiver ist. Die optimale Geldpolitik der Zentralbank der Währungsunion wird ermittelt und mit einer einfachen Taylor …

Persistent link: https://www.econbiz.de/10011431763

Imperfect Competition, Monetary Policy and Welfare in a Currency Area

Lombardo, Giovanni - 2016

Persistent link: https://www.econbiz.de/10012991267

Monetary union and macroeconomic stabilization

Groll, Dominik - 2014 - This version: February 14, 2014

It is conventionally held that countries are worse off by forming a monetary union when it comes to macroeconomic stabilization. However, this conventional view relies on assuming that monetary policy is conducted optimally. Relaxing the assumption of optimal monetary policy not only uncovers...

Persistent link: https://www.econbiz.de/10011415479

From Taylor's rule to Bernanke's temporary price level targeting

Hebden, James; López-Salido, José David - 2018

Bernanke's strategies for integrating forward guidance into conventional instrument rules anticipate that effective lower bound (ELB) episodes may become part a regular occurrence and that monetary policy should recognize this likelihood (Bernanke (2017a); Bernanke (2017b)). Bernanke's first...

Persistent link: https://www.econbiz.de/10012016089

Monetary policy and durable goods

Barsky, Robert B.; Boehm, Christoph E.; House, … - 2016

We analyze monetary policy in a New Keynesian model with durable and non-durable goods each with a separate degree of price rigidity. The model behavior is governed by two New Keynesian Phillips Curves. If durable goods are sufficiently long-lived we obtain an intriguing variant of the...

Persistent link: https://www.econbiz.de/10011569699

Inflation targeting in high inflation emerging economies : lessons about rules and instruments

Taylor, John B. - In: Journal of applied economics 22 (2019) 1, pp. 103-116

This talk emphasizes the connection between inflation targeting and monetary policy rules. Inflation targeting is not enough. You need to have a policy procedure - a policy rule - to achieve the target. And one cannot design or evaluate a monetary policy rule without a target inflation rate....

Persistent link: https://www.econbiz.de/10012157288

Optimized taylor rules for disinflation when agents are learning

Cogley, Timothy; Matthes, Christian; Sbordone, Argia M. - 2014

Persistent link: https://www.econbiz.de/10010339753

Generalizing the Taylor principle : new comment

Barthélemy, Jean; Marx, Magali - 2012

Persistent link: https://www.econbiz.de/10009663907

Optimal interest rate rules and inflation stabilization versus price-level stabilization

Giannoni, Marc Paolo - 2012

This paper compares the properties of interest rate rules such as simple Taylor rules and rules that respond to price-level fluctuations - called Wicksellian rules - in a basic forward-looking model. By introducing appropriate history dependence in policy, Wicksellian rules perform better than...

Persistent link: https://www.econbiz.de/10009522769

Optimal opportunistic monetary policy in a New-Keynesian model

Marzo, Massimiliano (contributor); Strid, Ingvar (contributor) - 2006

Persistent link: https://www.econbiz.de/10003375073

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