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Empirical evidence on the generalized Taylor principle

Jovanović, Mario - 2012

parameter. Based on the GMM-estimation of the generalized approach I confirm the suggested uncertainty-dependent inflation …

Persistent link: https://www.econbiz.de/10009580165

Hopf bifurcation from new-Keynesian Taylor rule to Ramsey optimal policy

Chatelain, Jean-Bernard; Ralf, Kirsten - 2017

This paper compares different implementations of monetary policy in a new-Keynesian setting. We can show that a shift from Ramsey optimal policy under short-term commitment (based on a negative feedback mechanism) to a Taylor rule (based on a positive feedback mechanism) corresponds to a Hopf...

Persistent link: https://www.econbiz.de/10011695130

Chapter 22. Inflation Targeting

Svensson, Lars E.O. - In: Handbook of monetary economics : volume 3, (pp. 1237-1302). 2010

Inflation targeting is a monetary-policy strategy characterized by an announced numerical inflation target, an implementation of monetary policy that gives a major role to an inflation forecast that has been called forecast targeting, and a high degree of transparency and accountability. It was...

Persistent link: https://www.econbiz.de/10014025620

Modifying Taylor reaction functions in presence of the zero-lower-bound : evidence for the ECB and the fed

Belke, Ansgar; Klose, Jens - 2012

We propose an alternative way of estimating Taylor reaction functions if the zero-lower-bound on nominal interest rates is binding. This approach relies on tackling the real rather than the nominal interest rate. So if the nominal rate is (close to) zero central banks can influence the inflation...

Persistent link: https://www.econbiz.de/10009580148

Empirical analyses of the relationship between real exchange rate and real interest rate differentials in inflation targeting countries

Breitenbach, Marthinus C.; Zerihun, Mulatu Fekadu; … - In: African journal of business and economic research : AJBER 15 (2020) 1, pp. 7-25

Persistent link: https://www.econbiz.de/10012666018

Did the Bundesbank react to the US dollar exchange rate?

Eleftheriou, Maria - In: International review of economics & finance : IREF 51 (2017), pp. 235-244

Persistent link: https://www.econbiz.de/10011754441

Monetary Policy without Moving Interest Rates : The Fed Non-Yield Shock

Boehm, Christoph E.; Kroner, T. Niklas - National Bureau of Economic Research - 2024

Existing high-frequency monetary policy shocks explain surprisingly little variation in stock prices and exchange rates around FOMC announcements. Further, both of these asset classes display heightened volatility relative to non-announcement times. We use a heteroskedasticity-based procedure to...

Persistent link: https://www.econbiz.de/10014576665

Monetary Policy Wedges and the Long-term Liabilities of Households and Firms

Binsbergen, Jules H. van; Grotteria, Marco - National Bureau of Economic Research - 2024

We examine the transmission of monetary policy shocks to the long-duration liabilities of households and firms using high-frequency variation in 10-year swap rates around FOMC announcements. We find that four weeks after the announcement mortgage rates move one-for-one with 10-year swap rates,...

Persistent link: https://www.econbiz.de/10014486229

Interest Rates, Exchange Rates and World Monetary Policy

Floyd, John E. - 2010

U.K., Japan, France and Germany with respect to the United States is conducted. The resulting conclusion is that real …

Persistent link: https://www.econbiz.de/10013521314

Why Does the Yield Curve Predict Economic Activity? Dissecting the Evidence for Germany and the United States

Smets, Frank; Tsatsaronis, Kostas - C.E.P.R. Discussion Papers - 1997

This paper investigates why the slope of the yield curve predicts future economic activity in Germany and the United … spread in that country. However, the main reason for the stronger leading indicator property in Germany is the positive … at lag four in Germany and almost nothing in the United States. …

Persistent link: https://www.econbiz.de/10005123911