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Mendonça, Helder Ferreira De; Filho, Josè Simao - In: Banca Nazionale del Lavoro 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/10010752015

Macroeconomics in develpoing countries

Nayyar, Deepak - In: Banca Nazionale del Lavoro 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/10010752018

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

Tonveronachi, Mario - In: Banca Nazionale del Lavoro 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/10010752023

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

Papademos, Lucas - In: Banca Nazionale del Lavoro 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/10010752508

Economic sanctions and US international business interests

Askari, Hossein; Forrer, John; Teegen, Hildy; Yang, Jiawen - In: Banca Nazionale del Lavoro 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 … diplomacy. The assessment of the economic impact of sanctions invariably focuses on direct bilateral trade, with little regard …

Persistent link: https://www.econbiz.de/10010752514

Estimating the Bank of Japan's monetary policy reaction function

Hsing, Yu - In: Banca Nazionale del Lavoro 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/10010752518

The price level and monetary policy

Kindleberger, Charles P. - In: Banca Nazionale del Lavoro Quarterly Review 55 (2002) 220, pp. 3-12

Most central banks are required to or choose to stabilize a price index, largely by manipulating short term interest rates. A serious problem is which index to choose among the national income deflator, wholesale prices, the cost of living, with or eliminating highly volatile commodities such as...

Persistent link: https://www.econbiz.de/10010752522

Does the stock of money have any causal significance?

Arestis, Philip; Sawyer, Malcolm - In: Banca Nazionale del Lavoro Quarterly Review 56 (2003) 225, pp. 113-136

Recent developments in macroeconomics, and economic policy in general, have produced a "new consensus" economy … process. The absence of the stock of money in many current debates over monetary policy has prompted the statement by the …

Persistent link: https://www.econbiz.de/10010752526

The Eurosystem operational framework, use of colleteral and liquidity distribution in the euro area: towards a single interbank market?

Vento, Gianfranco A. - In: Banca Nazionale del Lavoro Quarterly Review 57 (2004) 228, pp. 71-100

This paper analyses the current operational framework chosen to implement singlemonetary policy in the euro area …, pointing out the effects of certain technical choices in the field of monetary policy instruments on the interbank market and …

Persistent link: https://www.econbiz.de/10010752527

Using an evolving criterion to assess the Federal Reserve's behaviour in recent years

Ferrari, Davide; Ribba, Antonio - In: Banca Nazionale del Lavoro Quarterly Review 58 (2005) 235, pp. 169-186

developed neuro-fuzzy techniques. Such models require the operation assumptions concerning the conduct of monetary policy to be … played by the evolution of the monetary policy decision mechanism. Besides the usual set of macro-economic variables, the … almost perfectly the actual behaviour of the monetary policy instrument. …

Persistent link: https://www.econbiz.de/10010752536