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Money and the transmission mechanism in the optimizing IS-LM specification
Nelson, Edward - Federal Reserve Bank of St. Louis - 2003
recognition to the intertemporal nature of households' saving decisions. Like traditional IS-LM, however, the optimizing version … tends to understate the value of money as an indicator for monetary policy. …
Persistent link: https://www.econbiz.de/10005707651
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International evidence on the stability of the optimizing IS equation
Kara, Amit (contributor); Nelson, Edward (contributor) - 2003 - [Elektronische Ressource], rev
Persistent link: https://www.econbiz.de/10001982872
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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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The Philippine Central Bank's Monetary Policy Reaction Function from 1992 to 2003
Salas, John Michael Ian S. - EconWPA - 2004
addition, currency stability and expansionary money supply (M1) growth are other concerns of the BSP, though significantly so …
Persistent link: https://www.econbiz.de/10005561255
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Learning about monetary policy rules
Bullard, James; Mitra, Kaushik - Federal Reserve Bank of St. Louis - 2002
We study macroeconomic systems with forward-looking private sector agents and a monetary authority that is trying to control the economy through the use of a linear policy feedback rule. A typical finding in the burgeoning literature in this area is that policymakers should be relatively...
Persistent link: https://www.econbiz.de/10005352838
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Tobin's imperfect asset substitution in optimizing general equilibrium
Andres, Javier; López-Salido, J. David; Nelson, Edward - Federal Reserve Bank of St. Louis - 2004
In this paper, we present a dynamic optimizing model that allows explicitly for imperfect substitutability between different financial assets. This is specified in a manner which captures Tobin's (1969) view that an expansion of one asset's supply affects both the yield on that asset and the...
Persistent link: https://www.econbiz.de/10005352930
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Why money growth determines inflation in the long run: answering the Woodford critique
Nelson, Edward - Federal Reserve Bank of St. Louis - 2008
determined by steady-state money growth. Woodford instead argues that the intercept term in the monetary authority's interest …, according to which it is appropriate to regard steady-state inflation as determined by steady-state money growth. The argument … the money growth rate. …
Persistent link: https://www.econbiz.de/10005352999
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A state-level analysis of the Great Moderation
Owyang, Michael T.; Piger, Jeremy M.; Wall, Howard J. - Federal Reserve Bank of St. Louis - 2007
the origin of the aggregate volatility reduction. We show that states with relatively high concentrations in the durable-goods …
Persistent link: https://www.econbiz.de/10005360567
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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/10005420439
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Using extraneous information to analyze monetary policy in transition economies
Gavin, William T.; Kemme, David M. - Federal Reserve Bank of St. Louis - 2007
Empirical work in macroeconomics is plagued by small sample size and large idiosyncratic variation. This problem is especially severe in the case of transition economies. We use a mixed estimation method incorporating information from OECD country data to estimate the parameters of a...
Persistent link: https://www.econbiz.de/10005490941