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Recent developments in monetary macroeconomics and U.S. dollar policy
Gavin, William T. - Federal Reserve Bank of St. Louis - 2005
explains what these developments mean for United States dollar policy. There is no conflict between what is appropriate U ….S. monetary policy at home or abroad because the dollar is the world's key currency. Both at home and abroad, the main problem for … U.S. policymakers is to provide an anchor for the dollar. Recent experience in other countries suggests that a solution …
Persistent link: https://www.econbiz.de/10005490999
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Will a weaker dollar mean a stronger economy?
Tatom, Jack A. - Federal Reserve Bank of St. Louis - 1987
Persistent link: https://www.econbiz.de/10005352784
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The domestic adjusted monetary base
Anderson, Richard G.; Rasche, Robert H. - Federal Reserve Bank of St. Louis - 2000
This paper provides a consistent, monthly measure of the amount of the U.S. adjusted monetary base that is domestically held, and of the amount held abroad. Most macroeconomic models that address the role of outside money as a determinant of the economy's aggregate price level are closed economy...
Persistent link: https://www.econbiz.de/10005352832
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To chain or not to chain trade-weighted exchange rate indexes
Coughlin, Cletus C.; Pollard, Patricia S.; Betts, Jerram C. - Federal Reserve Bank of St. Louis - 1997
Dallas index, which uses a Paasche index. The choice of base year alters the behavior ofthe dollar in these two indexes. We … contrast this result with the behavior of the dollar in comparable chain TWEXs, where the base year sensitivity is absent. Our …
Persistent link: https://www.econbiz.de/10005352839
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Construction of an estimated domestic monetary base using new estimates of foreign holdings of U.S. currency
Anderson, Richard G.; Rasche, Robert H. - Federal Reserve Bank of St. Louis - 1997
This paper presents a new method to estimate the amount of U.S. currency held abroad. The method exploits the fact the Federal Reserve System is the major processor of currency for depository institutions. The method exploits differentials across denominations in the ratios of shipments to...
Persistent link: https://www.econbiz.de/10005352909
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Exchange rate movements and external imbalance
Batten, Dallas S. - Federal Reserve Bank of St. Louis - 1986
Persistent link: https://www.econbiz.de/10005353018
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The role of jumps in volatility spillovers in foreign exchange markets: meteor shower and heat waves revisited
Neely, Christopher; Lahaye, Jerome - Federal Reserve Bank of St. Louis - 2014
We investigate the role of jumps in transmitting volatility between foreign exchange markets (Engle, Ito, and Lin, 1990; Melvin and Peiers Melvin, 2003; Cai, Howorka, and Wongswan, 2008). We show that recently developed estimators have very different implications for the impact of jumps on exchange rate...
Persistent link: https://www.econbiz.de/10010951615
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International channels of the Fed’s unconventional monetary policy
Bauer, Michael D.; Neely, Christopher J. - Federal Reserve Bank of St. Louis - 2012
Previous research has established that the Federal Reserve large scale asset purchases (LSAPs) significantly influenced international bond yields. This paper analyzes the channels through which these effects occurred. We use dynamic term structure models to decompose international yield changes...
Persistent link: https://www.econbiz.de/10010569173
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Recent developments in monetary macroeconomics and U.S. dollar policy
Gavin, William T. (contributor) - 2005
explains what these developments mean for U.S. dollar policy. There is no conflict between what is appropriate U.S. monetary … policy at home or abroad because the dollar is the world's key currency country. Both at home and abroad, the main problem … for U.S. policymakers is to provide an anchor for the dollar. Recent experience in other countries suggests that a …
Persistent link: https://www.econbiz.de/10003139110
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Home bias and high turnover in an overlapping generations model with learning
Guidolin, Massimo - Federal Reserve Bank of St. Louis - 2005
This paper develops a two-country OLG model under the assumption that investors are on a Bayesian learning path. While investors from both countries receive identical information flows, domestic investors start off with less precise prior beliefs concerning foreign fundamentals. On a learning...
Persistent link: https://www.econbiz.de/10005360597