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Effects of alternative monetary stabilization policies: an unexpected finding

Prescott, Edward C. - Federal Reserve Bank of San Francisco - 1993

Persistent link: https://www.econbiz.de/10005078272

Measuring the effect of the zero lower bound on medium- and longer-term interest rates

Swanson, Eric T.; Williams, John C. - Federal Reserve Bank of San Francisco - 2012

The zero lower bound on nominal interest rates has constrained the Federal Reserve’s setting of the overnight federal funds rate for over three years running. According to many macroeconomic models, such an extended period of being stuck at the zero bound has important implications for the...

Persistent link: https://www.econbiz.de/10010551214

Stabilization policy: a reconsideration

Yellen, Janet L. - Federal Reserve Bank of San Francisco - 2004

This paper forms the basis for Janet Yellen's Presidential address to the Western Economic Association International, delivered July 1, 2004, in Vancouver, British Columbia.

Persistent link: https://www.econbiz.de/10010724825

The economy, fiscal policy, and monetary policy

Williams, John C. - Federal Reserve Bank of San Francisco - 2012

Presentation to the Financial Women’s Association of San Francisco, San Francisco, CA, October 15, 2012

Persistent link: https://www.econbiz.de/10010724858

Maturity shortening and market failure

Thierfelder, Felix - Deutsche Bundesbank - 2012

Motivated by the financial crisis of 2007-2009 several papers have provided explanations for why liquidity may dry up … during market stress. This paper also looks at this issue but focuses on the question as to why the liquidity crunch was not … need to provide longer-term liquidity. The paper asks what market failure central banks were addressing by intervening and …

Persistent link: https://www.econbiz.de/10010957159

Maturity shortening and market failure

Thierfelder, Felix - Deutsche Bundesbank - 2012

Persistent link: https://www.econbiz.de/10010535438

Inflation, deflation, and uncertainty: What drives euro area option-implied inflation expectations and are they still anchored in the sovereign debt crisis?

Scharnagl, Michael; Stapf, Jelena - Deutsche Bundesbank - 2014

We tackle two questions in this paper: In the sovereign debt crisis, what moves the euro area inflation outlook and has the firm anchoring of medium to long-term inflation expectations been touched? Deriving densities from a new data set on options on the euro area harmonized index of consumer...

Persistent link: https://www.econbiz.de/10010957128

Monetary policy when interest rates are bounded at zero

Fuhrer, Jeff; Madigan, Brian - Federal Reserve Bank of San Francisco - 1994

This article assesses the importance of the zero lower bound on nominal interest rates for the conduct of monetary policy. The article employs a small, forward-looking model developed by Fuhrer and Moore. The model is simulated under several policy rules that involve either high or low inflation...

Persistent link: https://www.econbiz.de/10005078238

Central bank independence and the costs of disinflation in the EC

Walsh, Carl E. - Federal Reserve Bank of San Francisco - 1994

Persistent link: https://www.econbiz.de/10005078251

Optimal policy with limited commitment

Kasa, Kenneth - Federal Reserve Bank of San Francisco - 1994

This paper uses Whiteman's(1986) frequency-domain optimization methodology to parameterize the precommitment period in a standard rational expectations policy design model. This allows researchers to adopt an empirical approach to the time consistency issue. That is, the operative commitment...

Persistent link: https://www.econbiz.de/10005078309

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