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shocks driving the economy and the systematic response of monetary policy to inflation: More flexible prices amplify the … shocks, ask: Would the U.S. economy have been more or less stable had prices been more flexible than historically? Our main …
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Remarks at the C. Peter McColough Series on International Economics, Council on Foreign Relations, New York City.
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Remarks at the Quarterly Regional Economic Press Briefing, New York City.
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The cutting edge of recent efforts to reshape monetary policy in many countries has been to impose a price target on the central bank. This paper examines such a policy in light of the Federal Reserve System's experience with money targeting from the late 1970s through the mid 1980s. The...
Persistent link: https://www.econbiz.de/10005410911
prices as an information variable for monetary policy implementation. A set of option prices provides us with information on … prices on stock prices and long term government bond futures. The estimation is done for a sample of daily closing prices for …
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We consider a standard cash in advance monetary model with flexible prices or prices set in advance and show that there …
Persistent link: https://www.econbiz.de/10005520027