Showing 1 - 10 of 16
This paper advances the hypothesis that the transition from there-is-little-central-banks-can-do-to-control-inflation … to inflation targeting occurred because central banks, especially the Federal Reserve, demonstrated that central banks … can control inflation rather than a consequence of marked improvement in the professions understanding of how monetary …
Persistent link: https://www.econbiz.de/10005077875
Persistent link: https://www.econbiz.de/10001982872
Persistent link: https://www.econbiz.de/10001974266
Persistent link: https://www.econbiz.de/10001174976
"A major criticism of standard specifications of price adjustment in models for monetary policy analysis is that they violate the natural rate hypothesis by allowing output to differ from potential in steady state. In this paper we estimate a dynamic optimizing business cycle model whose...
Persistent link: https://www.econbiz.de/10002934315
Persistent link: https://www.econbiz.de/10001169245
Persistent link: https://www.econbiz.de/10001986445
Persistent link: https://www.econbiz.de/10005360574
average inflation rate in an international cross-section. We find that inflationary regimes in certain countries are duration …
Persistent link: https://www.econbiz.de/10005360589
A primary purpose of the Federal Reserve Act of 1913 was to prevent banking panics by establishing the Federal Reserve System to function as a lender of last resort. Other types of financial crisis require similar response, however, and the Federal Reserve has repeatedly used its capacity to...
Persistent link: https://www.econbiz.de/10005352966