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Time Horizons And Smoothing In The Bank Of England’s Reaction Function: The Contrast Between The Standard GMM And Ex Ante Forecast Approaches
Cobham, David; Kang, Yue - Agricultural and Applied Economics Association - AAEA - 2012
-ante forecast method developed by Goodhart (2005), with particular attention to the horizons for inflation and output at which each …
Persistent link: https://www.econbiz.de/10010878959
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Stock Market Reaction to Fed Funds Rate Surprises: State Dependence and the Financial Crisis
Kontonikas, Alexandros; MacDonald, Ronald; Saggu, Aman - Agricultural and Applied Economics Association - AAEA - 2012
This paper examines the impact of Federal Funds rate (FFR) surprises on stock returns in the United States over the period 1989-2009, focusing on the impact of the recent financial crisis. We find that prior to the crisis, stock prices increased as a response to unexpected FFR cuts. State...
Persistent link: https://www.econbiz.de/10010878972
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Central banks and house prices in the run-up to the crisis
Cobham, David - Agricultural and Applied Economics Association - AAEA - 2012
The financial crisis and the role played within it by fluctuations in house prices has reopened the debate about whether monetary policy should respond to asset prices. This paper investigates how the central banks of the euro area, the UK and the US considered, understood and responded to the...
Persistent link: https://www.econbiz.de/10010878975
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Financial crisis and quantitative easing: can broad money tell us anything?
Cobham, David; Kang, Yue - Agricultural and Applied Economics Association - AAEA - 2012
When Bank of England (and the Federal Reserve Board) introduced their quantitative easing (QE) operations they emphasised the effects on money and credit, but much of their empirical research on the effects of QE focuses on long-term interest rates. We use a flow of funds matrix with an...
Persistent link: https://www.econbiz.de/10010878977
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Fiscal Sustainability in a New Keynesian Model
Leith, Campbell; Wren-Lewis, Simon - Agricultural and Applied Economics Association - AAEA - 2012
Recent work on optimal monetary and fiscal policy in New Keynesian models suggests that it is optimal to allow steady-state debt to follow a random walk. Leith and Wren-Lewis (2012) consider the nature of the timeinconsistency involved in such a policy and its implication for discretionary...
Persistent link: https://www.econbiz.de/10010879000
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Time Horizons And Smoothing In The Bank Of England’s Reaction Function: The Contrast Between The Standard GMM And Ex Ante Forecast Approaches
Cobham, David; Kang, Yue - Agricultural and Applied Economics Association - AAEA - 2012
-ante forecast method developed by Goodhart (2005), with particular attention to the horizons for inflation and output at which each …
Persistent link: https://www.econbiz.de/10010879002
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Fiscal Sustainability in a New Keynesian Model
Leith, Campbell; Wren-Lewis, Simon - Agricultural and Applied Economics Association - AAEA - 2012
Recent work on optimal monetary and fiscal policy in New Keynesian models suggests that it is optimal to allow steady-state debt to follow a random walk. Leith and Wren-Lewis (2012) consider the nature of the timeinconsistency involved in such a policy and its implication for discretionary...
Persistent link: https://www.econbiz.de/10010879015
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THE IMPACT OF THE RECENT FEDERAL RESERVE LARGE-SCALE ASSET PURCHASES ON THE AGRICULTURAL COMMODITY PRICES: A HISTORICAL DECOMPOSITION
Saghaian, Sayed; Reed, Michael R. - Agricultural and Applied Economics Association - AAEA - 2014
Persistent link: https://www.econbiz.de/10011068835
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Modeling Flood Perils and Flood Insurance Program in Taiwan
Chang, Ching-Cheng; Hsu, Wenko; Su, Ming-Daw - Agricultural and Applied Economics Association - AAEA - 2008
Taiwan had approximately 3,000 buildings damaged by floods with an economic loss of NT$12.8 billion annually, a figure 4.5 times more than economic losses due to fire damages. Many insurers become extremely cautious when underwriting their flood policies for people living in areas that are...
Persistent link: https://www.econbiz.de/10005483448
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Is investing in communication worth it? An experimental study of communication in a relational contract setting
Raszap Skorbiansky, Sharon; Wu, Steven - Agricultural and Applied Economics Association - AAEA - 2014
Many markets include communication forums (e.g. Angie's List for services, Yelp for restaurants) to facilitate trading … communication platforms, such as by recruiting “elite” yelp members or Amazon Vine Program reviewers, in order to introduce more … truthful reviews. We conduct an experiment in order to examine who benefits from providing communication forums and under what …
Persistent link: https://www.econbiz.de/10011069048