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Inflation targeting and the anchoring of inflation expectations: cross-country evidence from consensus forecasts
Davis, Jonathan Scott; Presno, Ignacio - Federal Reserve Bank of Dallas - 2014
Using survey data of inflation expectations across a 36 developed and developing countries, this paper examines whether … the adoption of inflation targeting has helped to anchor inflation expectations. We examine the response of inflation … expectations following a shock to inflation, inflation expectations, and oil prices. For the 13 countries that adopted inflation …
Persistent link: https://www.econbiz.de/10010772603
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The Federal Reserve engages the world (1970-2000): an insider's narrative of the transition to managed floating and financial turbulence
Truman, Edwin Malcolm - Federal Reserve Bank of Dallas - 2014
financial policy and analysis covering four areas: the emergence and taming of the great inflation, developments in US external …
Persistent link: https://www.econbiz.de/10011114882
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Sharing the burden: monetary and fiscal responses to a world liquidity trap
Cook, David; Devereux, Michael B. - Federal Reserve Bank of Dallas - 2011
With integrated trade and financial markets, a collapse in aggregate demand in a large country can cause "natural real interest rates" to fall below zero in all countries, giving rise to a global "liquidity trap." This paper explores the optimal policy response to this type of shock, when...
Persistent link: https://www.econbiz.de/10009292929
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Buy a ticket! (with reference to the Strauss Brothers, Ambassador Mike Moore, Kenneth Arrow, financial sharpies, Martin Luther King Jr. and Gov. Dewey)
Fisher, Richard W. - Federal Reserve Bank of Dallas - 2011
Remarks before the Dallas Friday Group, Dallas, Texas, October 21, 2011 ; "Absent some shock, I envision a slow but steady improvement in the economy into 2012. That is, if our fiscal authorities will remove their stranglehold on clarifying fiscal initiatives. If not, then, in my view, I expect...
Persistent link: https://www.econbiz.de/10010723065
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Racing to the top: how global competition disciplines public policy
Fisher, Richard W. - Federal Reserve Bank of Dallas - 2006
Remarks before the Dallas Friday Group, Dallas, Texas, April 11, 2006 ; "Competition brings benefits to the public sector the same way it does the private sector. Because factors of production are increasingly mobile in an era of globalization, governments vie to gain and hold onto them. Mobile...
Persistent link: https://www.econbiz.de/10010723067
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Comments on current conundra
Fisher, Richard W. - Federal Reserve Bank of Dallas - 2007
Remarks to the 2007 Annual Conference of the Investment Adviser Association, Austin, Texas, April 26, 2007 ; "Many options would improve the fiscal fitness of our entitlement system and reduce the need for drastic action elsewhere in the federal budget. But let's be honest. These remedies work...
Persistent link: https://www.econbiz.de/10010725998
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The limits of monetary policy: 'Monetary policy responsibility cannot substitute for government irresponsibility'
Fisher, Richard W. - Federal Reserve Bank of Dallas - 2011
Remarks before a luncheon meeting of the Manhattan Institute and e21, New York City, January 12, 2011 ; "The key to correcting the underperformance of the American economy and American job creation does not rest with the Federal Reserve. It is in the hands of those who make fiscal and regulatory...
Persistent link: https://www.econbiz.de/10010726047
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Do good institutions promote counter-cyclical macroeconomic policies?
Calderón, César; Duncan, Roberto; Schmidt-Hebbel, Klaus - Federal Reserve Bank of Dallas - 2012
The literature has argued that developing countries are unable to adopt counter-cyclical monetary and fiscal policies due to financial imperfections and unfavorable politicaleconomy conditions. Using a world sample of 115 industrial and developing countries for 1984-2008, we find that the level...
Persistent link: https://www.econbiz.de/10011026846
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'Is America's decline exaggerated or inevitable?' The role of monetary and fiscal policy (with reference to St. Peter, Calvin Coolidge, Walter Bagehot, Paul Volcker, Winston Church...
Fisher, Richard W. - Federal Reserve Bank of Dallas - 2011
Remarks before the Society of American Business Editors and Writers 2011 Annual Conference, Dallas, Texas, April 8, 2011 ; In the fall of 2006, I was asked to draw upon some 30 years of experience in Germany and speak at the American Academy in Berlin, addressing the question: “Is Germany’s...
Persistent link: https://www.econbiz.de/10011027162
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Some alternative perspectives on macroeconomic theory and some policy implications
White, William R. - Federal Reserve Bank of Dallas - 2010
The macroeconomic theories and models favoured by academics, as well as those used more commonly by policymakers, effectively rule out by assumption economic and financial crises of the sort we are living through. In particular, the longer run dangers posed by the rapid expansion of credit and...
Persistent link: https://www.econbiz.de/10008598684