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Time Consistency and the Duration of Government Debt : A Signalling Theory of Quantitative Easing

Bhattarai, Saroj - 2015

We present a signalling theory of Quantitative Easing (QE) at the zero lower bound on the short term nominal interest … bank with balance sheet concerns. Numerical experiments show that the signalling effect can be substantial in both models …

Persistent link: https://www.econbiz.de/10012457331

Federal Reserve Private Information and the Behavior of Interest Rates

Romer, Christina D. - 1996

Many authors argue that asymmetric information between the Federal Reserve and the public is important to the conduct … and the effects of monetary policy. This paper tests for the existence of such asymmetric information by examining Federal … Reserve and commercial inflation forecasts. We demonstrate that the Federal Reserve has considerable information about …

Persistent link: https://www.econbiz.de/10012473150

Does Foreign Exchange Intervention Signal Future Monetary Policy?

Kaminsky, Graciela - 1993

opposite direction of the conventional signaling story. This finding can explain why in some periods exchange rates moved in …

Persistent link: https://www.econbiz.de/10012474662

The Labor Demand and Labor Supply Channels of Monetary Policy

Graves, Sebastian; Huckfeldt, Christopher K.; Swanson, … - National Bureau of Economic Research - 2023

Monetary policy is conventionally understood to influence labor demand, with little effect on labor supply. We estimate the response of labor market flows to high-frequency changes in interest rates around FOMC announcements and Fed Chair speeches and find that, in contrast to the consensus...

Persistent link: https://www.econbiz.de/10014421195

Monetary Policy and Unemployment

Galí, Jordi - 2010

Much recent research has focused on the development and analysis of extensions of the New Keynesian framework that model labor market frictions and unemployment explicitly. The present paper describes some of the essential ingredients and properties of those models, and their implications for...

Persistent link: https://www.econbiz.de/10012462779

Labor Markets and Monetary Policy : A New-Keynesian Model with Unemployment

Blanchard, Olivier - 2008

We construct a utility-based model of fluctuations, with nominal rigidities and unemployment, and draw its implications for the unemployment-inflation tradeoff and for the conduct of monetary policy.<br><br>We proceed in two steps. We first leave nominal rigidities aside. We show that, under a standard...

Persistent link: https://www.econbiz.de/10012464750

Policy Uncertainty Reduces Green Investment

Wang, Mengyu; Wurgler, Jeffrey; Zhang, Hong - National Bureau of Economic Research - 2023

Government subsidies are often used to stimulate environment-friendly investment. We find that Chinese firms reduce green investment as the uncertainty of subsidies rises. This effect is identified from weather-driven fluctuations in air pollution that lead to fluctuations in subsidy...

Persistent link: https://www.econbiz.de/10014322788

Central Bank Transparency : Where, Why, and with What Effects?

Dincer, N. Nergiz - 2007

years. In this paper we present new information on its extent and effects. We show that the trend is general: a large number …

Persistent link: https://www.econbiz.de/10012465652

Revealing the Secrets of the Temple : The Value of Publishing Central Bank Interest Rate Projections

Rudebusch, Glenn D. - 2006

, in an economy where private agents have imperfect information about the determination of monetary policy, central bank …

Persistent link: https://www.econbiz.de/10012466023

Does Quebec's Subsidized Child Care Policy Give Boys and Girls an Equal Start?

Kottelenberg, Michael J. - 2017

Although an increasing body of research promotes the development of universal early education and care programs, little is known about the extent to which these programs affect gender gaps in academic achievement and other developmental outcomes. Analyzing the introduction of universal...

Persistent link: https://www.econbiz.de/10012455422