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The industry effects of monetary policy and their welfare implications

Arnold, Ivo J.M. - In: BNL Quarterly Review 53 (2013) 214, pp. 287-315

Economic theory provides at least two explanations for differential regional effects of a common monetary policy. The … (1998), I estimate impulse responses of sector earnings to monetary policy shocks for regions of the United States. An … of the industry mix. Second, the paper addresses the welfare implications of industry effects of monetary policy. One …

Persistent link: https://www.econbiz.de/10010854331

What central banks have learned: lessons from pre-EMU Europe

Houben, Aerdt C.F.J. - In: BNL Quarterly Review 54 (2001) 218, pp. 289-311

three dominant policy strategies of money targeting, exchange rate targeting and inflation targeting. Several of the lessons … that are relevant to the euro area are shown to have been incorporated into the monetary policy strategy of the European …

Persistent link: https://www.econbiz.de/10010854332

Does central bank independence reflect monetary commitment properly? Methodical considerations

Freytag, Andreas - In: BNL Quarterly Review 54 (2001) 217, pp. 181-208

based on the political economy literature onmonetary policy. In this paper, we argue that CBI is an incomplete approximation …

Persistent link: https://www.econbiz.de/10010854334

The life-cycle hypothesis, fiscal policy and social security

Jappelli, Tullio - In: BNL Quarterly Review 58 (2005) 233-234, pp. 173-186

In the early 1950s Modigliani, with Brumberg and Ando, formulated the life-cycletheory of consumption and savings that enjoyed a huge and undisputed success. But, since the early 1980s, the life-cycle theory has increasingly come under attack. One reason is the existence of an important...

Persistent link: https://www.econbiz.de/10010854342

Economic transparency and poverty

Mendonça, Helder Ferreira De; Filho, Josè Simao - In: BNL Quarterly Review 60 (2007) 240, pp. 33-48

objectives in the implementation of monetary policy (concerning inflation and unemployment) is the interest rate. Furthermore …

Persistent link: https://www.econbiz.de/10010751991

Macroeconomics in develpoing countries

Nayyar, Deepak - In: BNL Quarterly Review 60 (2007) 242, pp. 249-269

have important implications for macroeconomics in terms of theory and policy. It considers the differences in macroeconomic … policy analysis should recognize, rather than ignore, such myriad differences. …

Persistent link: https://www.econbiz.de/10010751997

Implications of Basel II for financial stability. Clouds are darker for developing countries

Tonveronachi, Mario - In: BNL Quarterly Review 60 (2007) 241, pp. 111-135

necessary condition to attain systemic financial stability, especially in weak institutional and macro-policy environments …

Persistent link: https://www.econbiz.de/10010752003

Macroeconomic theory and monetary policy: the contributions of Franco Modigliani and the ongoing debate

Papademos, Lucas - In: BNL Quarterly Review 58 (2005) 233-234, pp. 187-214

The paper reviews some of the most important results of the LCH for understanding individual and aggregate saving behaviour. It then turns to the implications for fiscalpolicy and social security, highlighting Modigliani's seminal contributions. Over time competing theories have emerged, and...

Persistent link: https://www.econbiz.de/10010752465

Economic sanctions and US international business interests

Askari, Hossein; Forrer, John; Teegen, Hildy; Yang, Jiawen - In: BNL Quarterly Review 55 (2002) 220, pp. 55-69

Economic sanctions are seen as a foreign policy instrument less severe than military engagement but more potent than …

Persistent link: https://www.econbiz.de/10010752471

Estimating the Bank of Japan's monetary policy reaction function

Hsing, Yu - In: BNL Quarterly Review 57 (2004) 229, pp. 169-183

Extending the Taylor rule and applying the VAR model, the author finds that the overnight call rate reacts positively to a shock to the inflation gap, the output gap, yen depreciation, stock prices, or the lagged overnight call rate. The response of the overnight call rate to exchange rates or...

Persistent link: https://www.econbiz.de/10010752475