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The optimal inflation target in an economy with limited enforcement
Antinolfi, Gaetano; Azariadis, Costas; Bullard, James - Federal Reserve Bank of St. Louis - 2012
We formulate the central bank’s problem of selecting an optimal long-run inflation rate as the choice of a distorting … equivalent to choosing inflation and nominal interest rates consistent with a resource constraint, and with an incentive … the optimum inflation rate is positive, because inflation reduces the value of the outside option for credit agents and …
Persistent link: https://www.econbiz.de/10010585881
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Inflation targeting in the USA
Bullard, James - Federal Reserve Bank of St. Louis - 2012
February 6, 2012. Speech. "Inflation Targeting in the USA." Delivered at the Union League Club of Chicago, Breakfast@65 …
Persistent link: https://www.econbiz.de/10010727287
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Hawks, doves, bubbles, and inflation targets
Bullard, James - Federal Reserve Bank of St. Louis - 2012
April 16, 2012. "Hawks, Doves, Bubbles, and Inflation Targets" Presented at the George S. Eccles Distinguished Lecture …
Persistent link: https://www.econbiz.de/10010727321
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Commodity prices, inflation targeting, and U.S. monetary policy
Bullard, James - Federal Reserve Bank of St. Louis - 2011
May 24, 2011. Presented at the 2011 Joint Meeting of the Cape Girardeau and Jackson Rotary Clubs, Cape Girardeau, Mo.
Persistent link: https://www.econbiz.de/10010727356
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Kalman filtering with truncated normal state variables for Bayesian estimation of macroeconomic models
Dueker, Michael (contributor) - 2005
"A pair of simple modifications to the Kalman filter recursions makes possible the filtering of models in which one or more state variables is truncated normal. Such recursions are broadly applicable to macroeconometric models that have one or more probit-type equation, such as vector...
Persistent link: https://www.econbiz.de/10003115151
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Forecasting output with information from business cycle turning points : a qualitative variable VAR
Dueker, Michael (contributor);  … - 2001 - [Elektronische Ressource].
Persistent link: https://www.econbiz.de/10001965117
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Stochastic capital depreciation and the comovement of hours and productivity
Dueker, Michael (contributor);  … - 2002 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10001971164
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Intermediaries and payments instruments
Bullard, James; Smith, Bruce D. - Federal Reserve Bank of St. Louis - 2002
We study an economy in which intermediaries have incentives to issue circulating liabilities as part of an equilibrium. We show that, with arbitrarily small transactions costs, only the liabilities of intermediaries will circulate, and not those of other private sector agents. Therefore, our...
Persistent link: https://www.econbiz.de/10005360537
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New economy - new policy rules?
Bullard, James; Schaling, Eric - Federal Reserve Bank of St. Louis - 2000
monetary policy for a given inflation target and a given level of productivity. We augment this model with regime switching in …
Persistent link: https://www.econbiz.de/10005360622
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A monetary policy feedback rule in Korea's fast-growing economy
Dueker, Michael; Kim, Gyuhan - Federal Reserve Bank of St. Louis - 1998
In Korea's high-growth economy, the Bank of Korea had been willing to tolerate double-digit inflation, provided that it … upper threshold of tolerable inflation for the Bank of Korea was about 20 percent. It appears that the Bank of Korea …'s disciplined, rule-like approach to monetary policy was able to control inflation and keep it away from explosive levels, despite …
Persistent link: https://www.econbiz.de/10005352822