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Liquidity Preference Theory Revisited—To Ditch or to Build on It?
Bibow, Joerg - EconWPA - 2005
Keynes’s analysis offers insights into practical issues, such as policy credibility and expectations management, that reach …
Persistent link: https://www.econbiz.de/10005126066
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The credibility of monetary policy: a survey of the literature with some simple applications to Caanda
Amano, Robert; Fenton, Paul; Tessier, David; Norden, … - EconWPA - 1996
We don't have an abstract yet, sorry. But I think the title is pretty descriptive.
Persistent link: https://www.econbiz.de/10005407873
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Reflections on the Current Fashion For Central Bank Independence
Bibow, Jörg - EconWPA - 2001
This paper challenges the time-inconsistency case for central bank independence. It argues that the time-inconsistency literature not only seriously confuses the substance of the rules versus discretion debate, but also posits an implausible view of monetary policy. Most worrisome, the...
Persistent link: https://www.econbiz.de/10005561151
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WOULD ADOPTING THE US DOLLAR HAVE LED TO IMPROVED INFLATION, OUTPUT AND TRADE BALANCES FOR NEW ZEALAND IN THE 1990s?
Hall, Viv; Huang, Angela - EconWPA - 2004
Deterministic simulations with the Reserve Bank of New Zealand’s core FPS model show how New Zealand’s broad macroeconomic environment might have evolved over the 1990s, if a US nominal yield curve and US TWI exchange rate movements under a common currency arrangement had been...
Persistent link: https://www.econbiz.de/10005412749
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STOCK MARKET VALUATION IN THE UNITED STATES
BISCIARI, Patrick; DURRE, Alain; NYSSENS, Alain - EconWPA - 2003
This paper gives an overview of some issues related to market aluation, focusing on the developments on the New York equity markets. The 42.4 p.c. fall in the S&P 500 price index between 24 March 2000 - when it reached its all-time high - and 31 December 2002 is situated in a very long term...
Persistent link: https://www.econbiz.de/10005125064
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Modelling Possible Impacts of GM Crops on Australian Trade
Stone, Susan; Matysek, Anna; Dolling, Andrew - EconWPA - 2003
This paper looks at the impact on Australia’s trade in crops (non-wheat grains and oilseeds) where GM technology has been introduced. The model includes assumptions about the productivity gains of GM crops, possible consumer responses and regulatory costs for Australia and its major trading...
Persistent link: https://www.econbiz.de/10005407855
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An Investigation of the Gains from Commitment in Monetary Policy
Schaumburg, Ernst; Tambalotti, Andrea - EconWPA - 2003
degrees of credibility, in which commitment and discretion become special cases of what we call quasi commitment. The monetary … measure of the (lack of) credibility of the monetary policy authority, we investigate the welfare effect of a marginal … increase in credibility. Our main finding is that, in a simple model of the monetary transmission mechanism, most of the gains …
Persistent link: https://www.econbiz.de/10005076809
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Sustaining Imperfectly Credible Trade Liberalization: Do the Rate of Tariff Reduction and the Degree of Labor Mobility Matter?
Tatum, Robert C. - EconWPA - 2005
Imperfectly credible trade liberalization can lead to balance of payment deterioration and a subsequent reversal of the reform. Therefore, this paper examines whether the likelihood of policy reversal depends on the rate of tariff reduction or the degree of labor mobility. The analysis shows...
Persistent link: https://www.econbiz.de/10005125497
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Stabilisations, Crises and the "Exit" Problem - A Theoretical Model
Bleaney, Michael; Gundermann, Marco - EconWPA - 2002
Exchange-rate-based stabilisations, even if successful, usually lack credibility initially. This is reflected in high …
Persistent link: https://www.econbiz.de/10005126376
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Labour market flexibility and policy coordination in a monetary union
Rantala, Anssi - EconWPA - 2004
Sufficiently flexible labour markets are considered an important precondition for countries to benefit from membership in the monetary union. Economic policy coordination within the European Community is extensive and includes issues related to labour market structures. In this paper we study...
Persistent link: https://www.econbiz.de/10005412650