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Monetary Policy Regimes and Macroeconomic Outcomes : Hong Kong and Singapore

Gerlach, Stefan - 2013

reaction function. The parameter estimates differ in two regards: the NEER responds to inflation in Singapore but not in Hong … variability of inflation has been lower in Singapore, but the volatility of real economic activity has been similar in the two … Singapore, using data for 1984-2004. We estimate an econometric model, comprising a Phillips curve, an IS curve and an equation …

Persistent link: https://www.econbiz.de/10012711720

Monetary policy implications of greater fiscal discipline

Taylor, John B. - 1995 - Rev

Persistent link: https://www.econbiz.de/10000941143

Policy rules as a means to a more effective monetary policy

Taylor, John B. - 1996

Persistent link: https://www.econbiz.de/10000941552

International Monetary Policy Coordination : Past, Present and Future

Taylor, John B. - 2014

This paper examines two explanations for the recent spate of complaints about cross-border monetary policy spillovers and calls for international monetary policy coordination, a development that contrasts sharply with the monetary system in the 1980s, 1990s and until recently. The first...

Persistent link: https://www.econbiz.de/10013060227

Does the Term Structure Predict Recessions? The International Evidence

Gerlach, Stefan; Bernard, Henri - 2013

Japan and the United Kingdom. Fourth, while leading indicators contain information beyond that in term spreads, this …

Persistent link: https://www.econbiz.de/10014215323

The Monetary Transmission Mechanism : Evidence from the G-7 Countries

Gerlach, Stefan; Smets, Frank - 2013

In this paper we compare the effects of monetary policy on output and prices in the G-7 countries using a parsimonious macroeconometric model comprising, output, prices and a short-term interest rate. We identify monetary policy shocks by assuming that they do not affect real output...

Persistent link: https://www.econbiz.de/10014060658

Monetary Policy and the Behaviour of Interest Rates : Are Long Rates Excessively Volatile?

Gerlach, Stefan - 2013

This paper employs data on short and long interest rates for the G-10 countries, Australia, Austria and Spain to assess the expectations hypothesis (EH) of the term structure, using the Campbell-Shiller (1987, 1991) methodology. Although the EH is rejected in several countries, in all countries...

Persistent link: https://www.econbiz.de/10014060778

Money and Inflation in the Euro Area : A Case for Monetary Indicators?

Gerlach, Stefan; Svensson, Lars E. O. - 2013

This paper studies the relationship between inflation, output, money and interest rates in the euro area, using data … power for future inflation. The real money gap contains more information about future inflation than the output gap and the … Eurosystem's money-growth indicator is an inferior indicator of future inflation …

Persistent link: https://www.econbiz.de/10014061326