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Quantitative Easing : A Rationale and Some Evidence from Japan

Wieland, Volker - 2009

of recent announcements regarding direct asset purchases by the Bank of England, the Bank of Japan, the U.S. Federal … Reserve and the European Central Bank. Empirical evidence from the previous period of quantitative easing in Japan between … 2001 and 2006 is presented. During this earlier period the Bank of Japan was able to expand the monetary base very quickly …

Persistent link: https://www.econbiz.de/10012463084

Simple and Robust Rules for Monetary Policy

Taylor, John B. - 2010

This paper focuses on simple rules for monetary policy which central banks have used in various ways to guide their interest rate decisions. Such rules, which can be evaluated using simulation and optimization techniques, were first derived from research on empirical monetary models with...

Persistent link: https://www.econbiz.de/10012462734

Robustness of Simple Monetary Policy Rules under Model Uncertainty

Levin, Andrew - 1998

In this paper, we investigate the properties of alternative monetary policy rules using four structural macroeconometric models: the Fuhrer-Moore model, Taylor's Multi-Country Model, the MSR model of Orphanides and Wieland, and the FRB staff model. All four models incorporate the assumptions of...

Persistent link: https://www.econbiz.de/10012472239