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1. Opening remarks -- 2. Fiscal policies and sustainability of public finances in the European Union -- 3. Fiscal policy challenges, sustainability of public finances and EU accession : the case of Turkey -- 4. Monetary policy in the Euro area : lessons from five years of the ECB and then...
Persistent link: https://www.econbiz.de/10012420007
Persistent link: https://www.econbiz.de/10005078272
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
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
Presentation to the Financial Women’s Association of San Francisco, San Francisco, CA, October 15, 2012
Persistent link: https://www.econbiz.de/10010724858
This book is a critical review of current fiscal and monetary policy in Europe and presents results of both empirical research and a discussion of the theoretical framework behind the policy of the European Central Bank and the Stability and Growth Pact. Macroeconomic policy is often hotly...
Persistent link: https://www.econbiz.de/10014474007
This paper reexamines the implications of the zero lower bound on interest rates for monetary policy and the optimal choice of steady-state inflation in light of the experience of the recent global recession. There are two main findings. First, the zero lower bound did not materially contribute...
Persistent link: https://www.econbiz.de/10008603769
This book is an up-to-date, authoritative and comprehensive analysis of the key issues and challenges facing regional currency area projects in the context of financial globalization. The authors focus on several central issues that emerged during the experiences of the 1990s and 2000s: exchange...
Persistent link: https://www.econbiz.de/10011851024
Financial globalization has made monetary policy formulation in emerging market economies increasingly complicated. This timely set of studies looks at the turmoil in global financial markets, which coupled with volatile inflation poses serious challenges for central banks in these countries....
Persistent link: https://www.econbiz.de/10011851216
Nobel Prize winner James Tobin has made outstanding contributions to modern macroeconomics. In this final collection of his work he examines the economic policies of the United States and its relations with other major economies after 1990. In James Tobin's view, the welfare of populations...
Persistent link: https://www.econbiz.de/10011851797