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Macroeconomic Impacts of Foreign Exchange Reserve Accumulation : Theory and International Evidence
Fukuda, Shin-ichi; Kon, Yoshifumi - East Asian Bureau of Economic Research (EABER) - 2010
foreign exchange reserves, utility-maximizing representative agents decide consumption, capital stock, and labor input, as … a permanent decline in consumption. However, when the tradable sector is capital intensive, the increase may enhance … investment and economic growth. We provide empirical support for our theoretical analysis using panel data from the Penn World …
Persistent link: https://www.econbiz.de/10009364008
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Monetary policy: why money matters, and interest rates don’t
Thornton, Daniel L. - Federal Reserve Bank of St. Louis - 2012
rate. Money’s role in monetary policy has been tertiary, at best. Indeed, several influential economists have suggested … that money is irrelevant for monetary policy. They suggest that central banks can control inflation by (i) controlling a … rate in order to exert greater control over longer-term rates. I offer an alternative perspective: namely, that money is …
Persistent link: https://www.econbiz.de/10010558739
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The role of monetary policy in the current macroeconomic environment
Poole, William - Federal Reserve Bank of St. Louis - 2001
Presentation to the National Association For Business Economics 43rd Annual Meeting, New York City - Sept. 10, 2001
Persistent link: https://www.econbiz.de/10011185077
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Central Bank Purchases of Private Assets
Williamson, Stephen D. - Federal Reserve Bank of St. Louis - 2014
A model is constructed in which consumers and banks have incentives to fake the quality of collateral. Conventional monetary easing can exacerbate these problems, in that the mispresentation of collateral becomes more profitable, thus increasing haircuts and interest rate differentials. Central...
Persistent link: https://www.econbiz.de/10010938568
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Transpacific Imbalances and Macroeconomic Codependency
Thorbecke, Willem - East Asian Bureau of Economic Research (EABER) - 2011
the global economic landscape. They are supported by low saving in the US and by reserve accumulation in Asia. This paper …
Persistent link: https://www.econbiz.de/10009653156
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Transpacific Imbalances and Macroeconomic Codependency
Thorbecke, Willem - East Asian Bureau of Economic Research (EABER) - 2011
the global economic landscape. They are supported by low saving in the US and by reserve accumulation in Asia. This paper …
Persistent link: https://www.econbiz.de/10009653221
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Monetary Policy Strategies in the Asia and Pacific Region : What Way Forward?
Filardo, Andrew; Genberg, Hans - East Asian Bureau of Economic Research (EABER) - 2010
Monetary policy frameworks in the Asia and Pacific region have performed well in the past decade as judged by inflation outcomes. We argue that this is due to three principal factors : (i) central banks have focused on price stability as the primary objective of monetary policy, (ii)...
Persistent link: https://www.econbiz.de/10009363854
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Restoring central banks after the crisis: Re-examining central bank orthodoxy for unorthodox times: Inaugural meeting of the Global Society of Fellows of the Global Interdependence...
Plosser, Charles I. - Federal Reserve Bank of Philadelphia - 2012
Presented at the Inaugural meeting of the Global Society of Fellows of the Global Interdependence Center, Banque de France, Paris, France, March 26, 2012
Persistent link: https://www.econbiz.de/10010727088
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Fiscal policy and monetary policy: restoring the boundaries - U.S. Monetary Policy Forum, The Initiative on Global Markets, University of Chicago Booth School of Business, New York...
Plosser, Charles I. - Federal Reserve Bank of Philadelphia - 2012
Presented at the U.S. Monetary Policy Forum, The Initiative on Global Markets University of Chicago Booth School of Business, New York, New York, February 24, 2012
Persistent link: https://www.econbiz.de/10010727106
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A perspective on the U.S. economic outlook and monetary policy
Plosser, Charles I. - Federal Reserve Bank of Philadelphia - 2013
Presented by Charles I. Plosser, President and Chief Executive Officer, Federal Reserve Bank of Philadelphia, SNS (Center for Business and Policy Studies) and SIFR (The Institute for Financial Research), Stockholm, Sweden
Persistent link: https://www.econbiz.de/10010727158