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Are Long-Term Inflation Expectations Well Anchored in Brazil, Chile and Mexico?

De Pooter, Michiel; Robitaille, Patrice; Walker, Ian; … - Federal Reserve Board (Board of Governors of the … - 2014

In this paper, we consider whether long-term inflation expectations have become better anchored in Brazil, Chile, and Mexico. We do so using survey-based measures as well as financial market-based measures of long-term inflation expectations, where we construct the market-based measures from...

Persistent link: https://www.econbiz.de/10010784200

Monetary policy in a forward-looking input-output economy

Strum, Brad E. - Federal Reserve Board (Board of Governors of the … - 2008

This paper examines the implications for monetary policy of sticky prices in both final and intermediate goods in a New Keynesian model. Both optimal policy under commitment and discretionary policy, which is the minimization of a simple loss function, are studied. Consumer utility losses under...

Persistent link: https://www.econbiz.de/10005721067

Conservatism and Liquidity Traps

Nakata, Taisuke; Schmidt, Sebastian - Federal Reserve Board (Board of Governors of the … - 2014

Appointing Rogoff's (1985) conservative central banker improves welfare if the economy is subject to large contractionary shocks and the policy rate occasionally falls to the zero lower bound (ZLB). In an economy with occasionally binding ZLB constraints, the anticipation of future ZLB episodes...

Persistent link: https://www.econbiz.de/10011115660

Offshoring, Mismatch, and Labor Market Outcomes

Arseneau, David M.; Epstein, Brendan - Federal Reserve Board (Board of Governors of the … - 2014

We study the role of labor market mismatch in the adjustment to a trade liberalization that results in the offshoring of high-tech production. Our model features two-sided heterogeneity in the labor market: high- and low-skilled workers are matched in a frictional labor market with high- and...

Persistent link: https://www.econbiz.de/10010937979

Cash flows and discount rates, industry and country effects, and co-movement in stock returns

Ammer, John; Wongswan, Jon - Federal Reserve Board (Board of Governors of the … - 2004

This paper examines the relative importance of global, country-specific, and industry-specific factors in both the cash flow and discount rate components of equity returns between 1995 and 2003. Our framework draws upon previously separate literatures on country versus industry effects and...

Persistent link: https://www.econbiz.de/10005368137

Is the corporate loan market globally integrated? a pricing puzzle

Carey, Mark; Nini, Greg - Federal Reserve Board (Board of Governors of the … - 2004

We offer evidence that interest rate spreads on syndicated loans to corporate borrowers are economically significantly smaller in Europe than in the U.S., other things equal. Differences in borrower, loan and lender characteristics associated with equilibrium mechanisms suggested in the...

Persistent link: https://www.econbiz.de/10005368403

Some simple tests of the globalization and inflation hypothesis

Ihrig, Jane; Kamin, Steven B.; Lindner, Deborah; … - Federal Reserve Board (Board of Governors of the … - 2007

This paper evaluates the hypothesis that globalization has increased the role of international factors and decreased … globalization and inflation hypothesis. Our results provide little support for that hypothesis. First, the estimated effect of … countries owes to globalization. Finally, and most surprisingly, our econometric results indicate no increase over time in the …

Persistent link: https://www.econbiz.de/10005368445

Reflections on globalization and policies: a speech at the European Economics and Financial Centre Seminar, House of Commons, London, England, July 6, 2006

Kohn, Donald L. - Federal Reserve Board (Board of Governors of the … - 2006

Persistent link: https://www.econbiz.de/10010725116

Globalization: evidence and policy implications : a speech to the Association for Financial Professionals Global Corporate Treasurers Forum, San Francisco, California (via videocon...

Roger W. Ferguson, Jr. - Federal Reserve Board (Board of Governors of the … - 2005

Persistent link: https://www.econbiz.de/10010725233

Global economic integration and decoupling: a speech at the International Research Forum on Monetary Policy, Frankfurt, Germany, June 26, 2008

Kohn, Donald L. - Federal Reserve Board (Board of Governors of the … - 2008

Persistent link: https://www.econbiz.de/10010725262