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Globalization, Macroeconomic Performance, and Monetary Policy

Mishkin, Frederic S. - 2008

The paper argues that many of the exaggerated claims that globalization has been an important factor in lowering … inflation in recent years just do not hold up. Globalization does, however, have the potential to be stabilizing for individual … globalization on the monetary transmission mechanism and arrives at the following answers: (1) Has globalization led to a decline in …

Persistent link: https://www.econbiz.de/10012464701

International Capital Movements, Financial Volatility and Financial Instability

Mishkin, Frederic S. - 1999

This lecture outlines an asymmetric information theory of financial instability which describes the fundamental forces …

Persistent link: https://www.econbiz.de/10012471510

International Experiences with Different Monetary Policy Regimes

Mishkin, Frederic S. - 1999

This paper examines the international experiences with four basic types of monetary policy regimes: 1) exchange-rate targeting, 2) monetary targeting, 3) inflation targeting, and 4) monetary policy with an implicit but not an explicit nominal anchor. The basic theme that emerges from this...

Persistent link: https://www.econbiz.de/10012471842

An Integrated View of Tests of Rationality, Market Efficiency, and the Short-Run Neutrality of Monetary Policy

Abel, Andrew B. - 1981

This paper analyzes an important class of models in which expectations play an important role. Topics included in the analysis are tests of: (1) rationality of forecasts in either market or survey data, (2) capital market efficiency, (3) the short-run neutrality of monetary policy and, (4)...

Persistent link: https://www.econbiz.de/10012478389

Monetary Policy and Short-Term Interest Rates : An Efficient Markets-Rational Expectations Approach

Mishkin, Frederic S. - 1981

efficient markets-rational expectations theory to analyze empirically the relationship of money supply growth and short- term …

Persistent link: https://www.econbiz.de/10012478425

Does Stabilizing Inflation Contribute To Stabilizing Economic Activity?

Mishkin, Frederic S. - 2008

This paper discusses recent economic research that demonstrates that the objectives of price stability and stabilizing economic activity are often likely to be mutually reinforcing. Thus, the answer to the title of this paper--"Does stabilizing inflation contribute to stabilizing economic...

Persistent link: https://www.econbiz.de/10012464676

Exchange Rate Pass-Through And Monetary Policy

Mishkin, Frederic S. - 2008

This paper discusses what recent economic research tells us about exchange rate pass-through and what this suggests for the control of monetary policy. It first focuses on exchange rate pass-through from a macroeconomic perspective and then examines the microeconomic evidence. In light of this...

Persistent link: https://www.econbiz.de/10012464677

Will Monetary Policy Become More of a Science?

Mishkin, Frederic S. - 2007

This paper reviews the progress that the science of monetary policy has made over recent decades. This progress has significantly expanded the degree to which the practice of monetary policy reflects the application of a core set of "scientific principles". However, there remains, and will...

Persistent link: https://www.econbiz.de/10012465081

Implementing Optimal Policy through Inflation-Forecast Targeting

Svensson, Lars E. O. - 2003

We examine to what extent variants of inflation-forecast targeting can avoid stabilization bias, incorporate history-dependence, and achieve determinancy of equilibrium, so as to reproduce a socially optimal equilibrium. We also evaluate these variants in terms of the transparency of the...

Persistent link: https://www.econbiz.de/10012468951

Monetary Policy and Real Stabilization

Svensson, Lars E. O. - 2003

Monetary policy can achieve average inflation equal to a given inflation target and, at best, a good compromise between inflation variability and output-gap variability. Monetary policy cannot completely stabilize either inflation or the output gap. Increased credibility in the form of inflation...

Persistent link: https://www.econbiz.de/10012469217