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Persistent link: https://www.econbiz.de/10001533742
This paper examines the international experiences with four basic types of monetary policy regimes: 1) exchange-rate targeting, 2) monetary targeting, 3) inflation targeting, and 4) monetary policy with an implicit but not an explicit nominal anchor. The basic theme that emerges from this...
Persistent link: https://www.econbiz.de/10012471842
This paper outlines what problems asymmetric information creates for the financial system and shows and shows that the presence of asymmetric information explains why banks are so important. The paper then goes on to explain why prudential supervision of these institutions is needed, and what...
Persistent link: https://www.econbiz.de/10012470811
Persistent link: https://www.econbiz.de/10012470870
monetary authorities have no control over their real rate relative to the world rate, limiting the impact of their … economy models which allow: 1) domestic real rates to differ from world rates, 2) time varying risk premiums in the forward … policy makers to exertsome control over their domestic real rate relative to those in the rest of the world. However, the …
Persistent link: https://www.econbiz.de/10012478057
This paper examines what we have learned and how we should change our thinking about monetary policy strategy in the aftermath of the 2007-2009 financial crisis. It starts with a discussion of where the science of monetary policy was before the crisis and how central banks viewed monetary policy...
Persistent link: https://www.econbiz.de/10012461902
This paper examines what transformed a significant, but relatively mild, financial disruption into a full-fledged financial crisis. It discusses why, although the Lehman Brothers bankruptcy was a key trigger for the global financial crisis, three other events were at least as important: the AIG...
Persistent link: https://www.econbiz.de/10012462048
Yes, as inferred from panel evidence for inflation-targeting countries and a control group of high-achieving industrial countries that do not target inflation. Our evidence suggests that inflation targeting helps countries achieve lower inflation in the long run, have smaller inflation response...
Persistent link: https://www.econbiz.de/10012465780
ideas that are now accepted by monetary authorities and governments in almost all countries of the world have led to …
Persistent link: https://www.econbiz.de/10012466151
One decade of inflation targeting in the world offers lessons on the design and implementation of inflation targeting …
Persistent link: https://www.econbiz.de/10012470323