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U.S. monetary policy regimes and U.S.-Japan financial relationships
Roley, V. Vance - Federal Reserve Bank of Kansas City - 1986
Persistent link: https://www.econbiz.de/10005410770
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Monetary conservatism and fiscal policy
Adam, Klaus; Billi, Roberto M. - Federal Reserve Bank of Kansas City - 2007
Does an inflation conservative central bank à la Rogoff (1985) remain desirable in a setting with endogenous fiscal policy? To provide an answer we study monetary and fiscal policy games without commitment in a dynamic stochastic sticky price economy with monopolistic distortions. Monetary...
Persistent link: https://www.econbiz.de/10005410691
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The international role of the dollar
Hakkio, Craig S. - Federal Reserve Bank of Kansas City - 1991
Persistent link: https://www.econbiz.de/10005515030
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Tests of mean-variance efficiency of international equity markets
Engel, Charles; Rodrigues, Anthony - Federal Reserve Bank of Kansas City - 1990
Persistent link: https://www.econbiz.de/10005410746
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Error correction, forward-looking behavior, and dynamic international money demand
Domowitz, Ian; Hakkio, Craig S. - Federal Reserve Bank of Kansas City - 1986
Persistent link: https://www.econbiz.de/10005410847
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House prices, heterogeneous banks and unconventional monetary policy options
Smith, Andrew Lee - Federal Reserve Bank of Kansas City - 2014
This paper develops a nancial mechanism which integrates housing and the real econ- omy through housing-secured debt. In this environment, movements in home prices are ampli ed through both borrowers and banks' balance sheets, leading to a self-reinforcing credit/liquidity crunch. When placed...
Persistent link: https://www.econbiz.de/10011170305
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A model of financial fragility
Lagunoff, Roger D.; Schreft, Stacey L. - Federal Reserve Bank of Kansas City - 1998
This paper presents a dynamic, stochastic game-theoretic model of financial fragility. The model has two essential features. First, interrelated portfolios and payment commitments forge financial linkages among agents. Second, iid shocks to investment projects’ operations at a single date...
Persistent link: https://www.econbiz.de/10005410833
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A model of monetary policy shocks for financial crises and normal conditions
Smith, Andrew Lee; Keating, John W.; Kelly, Logan J.; … - Federal Reserve Bank of Kansas City - 2014
aftermath of the 2008 financial crisis. One of our most important innovations is to utilize the Divisia M4 index of money as the …
Persistent link: https://www.econbiz.de/10011171344
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Does money matter anymore? A comment on Friedman and Kuttner
Becketti, Sean; Morris, Charles - Federal Reserve Bank of Kansas City - 1992
Persistent link: https://www.econbiz.de/10005515052
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Currency competition : a partial vindication of Hayek
Martin, Antoine; Schreft, Stacey L. - Federal Reserve Bank of Kansas City - 2003
This paper establishes the existence of equilibria for environments in which outside money is issued competitively …. Such equilibria are typically believed not to exist because of a classic overissue problem: if money is valued in … equilibrium, an issuer produces money until its value is driven to zero. By backward induction, money cannot have value in the …
Persistent link: https://www.econbiz.de/10005515064