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An analysis of the short-run money supply process under a reserves operating target

Avery, Robert B.; Kwast, Myron L. - Federal Reserve Board (Board of Governors of the … - 1986

Persistent link: https://www.econbiz.de/10005361206

How do FOMC actions and U.S. macroeconomic data announcements move Brazilian sovereign yield spreads and stock prices?

Robitaille, Patrice; Roush, Jennifer E. - Federal Reserve Board (Board of Governors of the … - 2006

This paper provides a robust structural identification of the effects of U.S. interest rates on an emerging economy's asset values. Using newly available intraday data, we investigate how surprises associated with U.S. macro data and FOMC announcements move the yield spread on a benchmark...

Persistent link: https://www.econbiz.de/10005368201

Do fundamentals explain the international impact of U.S. interest rates? evidence at the firm level

Ammer, John; Vega, Clara; Wongswan, Jon - Federal Reserve Board (Board of Governors of the … - 2008

This paper analyzes the impact of U.S. monetary policy announcement surprises on U.S. and foreign firm-level equity prices. We find that U.S. monetary policy has important influences on foreign equity prices on average, but with considerable variation across firms. We have found that this...

Persistent link: https://www.econbiz.de/10005368300

Three great American disinflations

Bordo, Michael; Erceg, Christopher; Levin, Andrew; … - Federal Reserve Board (Board of Governors of the … - 2007

This paper analyzes the role of transparency and credibility in accounting for the widely divergent macroeconomic effects of three episodes of deliberate monetary contraction: the post-Civil War deflation, the post-WWI deflation, and the Volcker disinflation. Using a dynamic general equilibrium...

Persistent link: https://www.econbiz.de/10005368365

The federal funds rate and the implementation of monetary policy: estimating the Federal Reserve's reaction function

Brunner, Allan D. - Federal Reserve Board (Board of Governors of the … - 1994

Several recent studies have reached quite different conclusions about which variable is the best indicator of the stance of monetary policy. These differences likely reflect varying assumptions about bank and Federal Reserve behavior. This paper takes a detailed and comprehensive look at the...

Persistent link: https://www.econbiz.de/10005368476

The decline of activist stabilization policy: natural rate misperceptions, learning, and expectations

Orphanides, Athanasios; Williams, John C. - Federal Reserve Board (Board of Governors of the … - 2004

the natural rate of unemployment during the late 1960s and 1970s on the formation of expectations and macroeconomic … outcomes. We find that the combination of monetary policy directed at tight stabilization of unemployment near its perceived … and destabilized the economy. Had monetary policy reacted less aggressively to perceived unemployment gaps, inflation …

Persistent link: https://www.econbiz.de/10005368525

The expectations trap hypothesis

Christiano, Lawrence J.; Gust, Christopher - Federal Reserve Board (Board of Governors of the … - 2000

We explore a hypothesis about the take-off in inflation that occurred in the early 1970s. According to the expectations trap hypothesis, the Fed was pushed into producing the high inflation out of a fear of violating the public's inflation expectations. We compare this hypothesis with the...

Persistent link: https://www.econbiz.de/10005372608

A review of Allan Meltzer's "A History of the Federal Reserve, Volume 2"

Nelson, Edward - Federal Reserve Board (Board of Governors of the … - 2011

This paper reviews Allan H. Meltzer's "A History of the Federal Reserve, Volume 2." This two-book volume covers Federal Reserve policies from 1951 to 1986. The book represents an enormous achievement in synthesizing a great amount of archival information into a historical account grounded on...

Persistent link: https://www.econbiz.de/10009395281

Semiannual monetary policy report to the Congress: testimony before the Committee on Financial Services, U.S. House of Representatives, February 15, 2006

Bernanke, Ben S. - Federal Reserve Board (Board of Governors of the … - 2006

Persistent link: https://www.econbiz.de/10010725165

Federal Reserve Board's semiannual monetary policy report to the Congress: testimony before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, February 11, 2003

Greenspan, Alan - Federal Reserve Board (Board of Governors of the … - 2003

Persistent link: https://www.econbiz.de/10010725166

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