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Modeling monetary policy
Reynard, Samuel; Schabert, Andreas - 2009
marketoperations. The relationship between the policy rate,expected inflation and consumption growth is affected bymoney market …
Persistent link: https://www.econbiz.de/10011379357
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Committee structure and its implications for monetary policy decision-making
Berk, Jan Marc; Bierut, Beata K. - 2003
We investigate the implications for the setting of interest rateswhen monetary policy decisions are taken by a committee, in whicha subset of members may meet prior to the voting in the committeeand therefore has the possibility to reach consensus ex ante to voteunanimously ex post. We allow for...
Persistent link: https://www.econbiz.de/10011333889
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A dynamic yield curve model with stochastic volatility and non-Gaussian interactions : an empirical study of non-standard monetary policy in the euro area
Mesters, Geert; Schwaab, Bernd; Koopman, Siem Jan - 2014
We develop an econometric methodology for the study of the yield curve and its interactions with measures of non-standard monetary policy during possibly turbulent times. The yield curve is modeled by the dynamic Nelson-Siegel model while the monetary policy measurements are modeled as...
Persistent link: https://www.econbiz.de/10010362975
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Taylor rules with endogenous regimes
Aastveit, Knut Are; Cross, Jamie; Furlanetto, Francesco; … - 2024
gap coefficient is higher in the recessionary regime than in the normal one. The estimate of the inflation coefficient …
Persistent link: https://www.econbiz.de/10014529386
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Sovereign default and the stability of inflation targeting regimes
Schabert, Andreas; Wijnbergen, Sweder van - 2011 - This version: January 2011
the presence of sovereign default beliefs a monetary policy, which aims to stabilize inflation through an active interest …
Persistent link: https://www.econbiz.de/10011386429
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Inflation stabilization, fiscal deficits and public debt management in Poland
Wijnbergen, Sweder van; Budina, Nina - 1999
Poland edged towards hyperinflation towards the latter half of 1989,but inflation fell dramatically after drastic … reformswere enacted in January of 1990. We analyse the consistency betweenfiscal deficits and inflation targets and assess Poland … fiscal deficits and inflation. We also assessthe impact of financial sector measures on seignioragerevenue and the …
Persistent link: https://www.econbiz.de/10011301167
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Age-differentiated QALI losses
Ferrer-i-Carbonell, Ada; Praag, Bernard M. S. van - 2001
In this paper we evaluate the QALY loss, which may be assigned to the prevalence of specific chronic illnesses and physical handicaps. The analysis is based on an individual self-rating health satisfaction question asked in the British Household Panel Survey data set. This question provides a...
Persistent link: https://www.econbiz.de/10011326417
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Age-differentiated QALI losses
Praag, Bernard M. S. van; Ferrer-i-Carbonell, Ada - 2001
Persistent link: https://www.econbiz.de/10001647213
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The effects of learning in interactive monetary policy committees
Berk, Jan Marc; Bierut, Beata K. - 2004
We develop a theoretical framework for studying the effects of interaction on the quaJity of decision-making by monetary policy committees. We show that interaction, i.e. increasing one's expertise through an exchange of views, is most likely not to result in interdependent voting...
Persistent link: https://www.econbiz.de/10011334835
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New economy, old central banks?
Berk, Jan Marc - 2002
Proponents of the so-called New Economy claim that it entails a structural change of the economy. Such a change, in turn, would require the central bank to rethink its monetary policy to the extent that traditional relationships between inf1ation and economic growth are no longer valid. But such...
Persistent link: https://www.econbiz.de/10011327535