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Anderson, Richard G.; Rasche, Robert H. - Federal Reserve Bank of St. Louis - 2000

held, and of the amount held abroad. Most macroeconomic models that address the role of outside money as a determinant of …

Persistent link: https://www.econbiz.de/10005352832

Construction of an estimated domestic monetary base using new estimates of foreign holdings of U.S. currency

Anderson, Richard G.; Rasche, Robert H. - Federal Reserve Bank of St. Louis - 1997

This paper presents a new method to estimate the amount of U.S. currency held abroad. The method exploits the fact the Federal Reserve System is the major processor of currency for depository institutions. The method exploits differentials across denominations in the ratios of shipments to...

Persistent link: https://www.econbiz.de/10005352909

Monetary policy under uncertainty : proceedings of the Thirty-second Annual Economic Policy Conference of the Federal Reserve Bank of St.Louis

Rasche, Robert H. (contributor) - 2008

Persistent link: https://www.econbiz.de/10003765665

The effectiveness of monetary policy

Rasche, Robert H. (contributor); … - 2005

Persistent link: https://www.econbiz.de/10003344534

Perfecting the market's knowledge of monetary policy

Poole, William; Rasche, Robert H. - Federal Reserve Bank of St. Louis - 2000

The rational expectations revolution made clear that a complete macro model requires a specification of the government's economic policy. We argue that monetary policy should be conducted in such a way that the market can predict policy actions. An implication of market success in predicting...

Persistent link: https://www.econbiz.de/10005360639

The monetary instrument matters

Gavin, William T.; Keen, Benjamin D.; Pakko, Michael R. - Federal Reserve Bank of St. Louis - 2005

This paper revisits the issue of money growth versus the interest rate as the instrument of monetary policy. Using a … of inflation relative to money growth depends on whether the central bank follows a money growth rule or an interest rate … rule. With a money growth rule, inflation is not persistent and the price level is much more volatile than the money supply …

Persistent link: https://www.econbiz.de/10005352925

The great inflation: did the shadow know better?

Poole, William; Rasche, Robert H.; Wheelock, David C. - Federal Reserve Bank of St. Louis - 2008

The Shadow Open Market Committee was formed in 1973 in response to rising inflation and the apparent unwillingness of U.S. policymakers to implement policies necessary to maintain price stability. This paper describes how the Committee's policy views differed from those of most Federal Reserve...

Persistent link: https://www.econbiz.de/10005352943

The effectiveness of monetary policy

Rasche, Robert H.; Williams, Marcela M. - Federal Reserve Bank of St. Louis - 2005

The analysis addresses changing views of the role and effectiveness of monetary policy, inflation targeting as an "effective monetary policy," monetary policy and short-run (output) stabilization, and problems in implementing a short-run stabilization policy.

Persistent link: https://www.econbiz.de/10005707702

Does monetary policy have differential regional effects?

Carlino, Gerald; DeFina, Robert - Federal Reserve Bank of Philadelphia - 1994

Persistent link: https://www.econbiz.de/10005717294

Inflation risk and optimal monetary policy

Gavin, William T.; Keen, Benjamin D.; Pakko, Michael R. - Federal Reserve Bank of St. Louis - 2007

This paper shows that the optimal monetary policies recommended by New Keynesian models still imply a large amount of inflation risk. We calculate the term structure of inflation uncertainty in New Keynesian models when the monetary authority adopts the optimal policy. When the monetary policy...

Persistent link: https://www.econbiz.de/10005490907