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Respuesta del retorno accionario a la politica monetaria: Evidencia para el mercado chileno
Acuña, Andres A.; Pinto, Cristian F. - Volkswirtschaftliche Fakultät, … - 2012
This paper analyzes the response of the stock market returns to monetary policy decisions by the Central Bank of Chile. It adopts the event-study methodology in order to gauge the influence of anticipated and unanticipated changes in the Chilean monetary policy interest rate (TPM), decided in...
Persistent link: https://www.econbiz.de/10011108637
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Comparing U.S. and European Market Volatility Responses to Interest Rate Policy Announcements
Krieger, Kevin; Mauck, Nathan; Vasquez, Joseph - Volkswirtschaftliche Fakultät, … - 2014
policy decisions by the Federal Open Market Committee (FOMC) and the European Central Bank (ECB). We confirm prior findings … that VIX declines on FOMC meetings days. We present new findings that indicate that VDAX declines on FOMC meeting days, but … prominent position for the FOMC in determining uncertainty levels both domestically and abroad relative to no relation between …
Persistent link: https://www.econbiz.de/10011114294
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The role of monetary policy in matters relating to financial stability: Monetary policy responses adopted during the most recent Financial Crisis
Ojo, Marianne - Volkswirtschaftliche Fakultät, … - 2010
As well as providing an analysis of how financial stability could be sustained through the appropriate targeting of policy instruments at debt gearing, this paper aims to provide an overview of the respective roles which governments and shareholders could assume in deterring financial...
Persistent link: https://www.econbiz.de/10008740556
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The End of the Great Moderation: “We told you so.”
Barnett, William A.; Chauvet, Marcelle - Volkswirtschaftliche Fakultät, … - 2008
The current financial crisis followed the “great moderation,” according to which the world’s central banks had gotten so good at countercyclical policy that the business cycle no longer existed. As more and more economists and media people became convinced that the risk of recessions had...
Persistent link: https://www.econbiz.de/10005836728
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How better monetary statistics could have signaled the financial crisis
Barnett, William A.; Chauvet, Marcelle - Volkswirtschaftliche Fakultät, … - 2010
This paper explores the disconnect of Federal Reserve data from index number theory. A consequence could have been the decreased systemic-risk misperceptions that contributed to excess risk taking prior to the housing bust. We find that most recessions in the past 50 years were preceded by more...
Persistent link: https://www.econbiz.de/10008614991
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The European Central Bank, the Federal Reserve and the Bank of England: is the Taylor Rule an useful benchmark for the last decade?
Forte, Antonio - Volkswirtschaftliche Fakultät, … - 2009
The Taylor rule has been used in many studies in order to analyse the monetary policies. In my work I focus on the Euro era and compare the ECB with other two central banks, the Fed and the BoE. A very interesting result comes out from the analysis: it seems that these central banks do not...
Persistent link: https://www.econbiz.de/10008559089
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Heterogeneity of the Maghreb: the results of optimized monetary rules
Belhadj, Aam - Volkswirtschaftliche Fakultät, … - 2009
showing in a first section the heterogeneity of Maghrebian monetary regimes. We have tried to illustrate in a second section … this heterogeneity via a model describing the functioning of the economy of these countries. Finally, we have attempted to …
Persistent link: https://www.econbiz.de/10011258339
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Internet search behavior as an economic forecasting tool: The case of inflation expectations
Guzman, Giselle - Volkswirtschaftliche Fakultät, … - 2010
months, and out-of-sample forecasts show that the GISI has the lowest forecast error of all the inflation expectations …
Persistent link: https://www.econbiz.de/10009647210
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Multiple Reserve Requirements, Exchange Rates, Sudden Stops and Equilibrium Dynamics in a Small Open Economy
Hernandez-Verme, Paula; Wang, Wen-Yao - Volkswirtschaftliche Fakultät, … - 2009
We model a typical Asian-crisis-economy using dynamic general equilibrium tech-niques. Exchange rates obtain from nontrivial fiat-currencies demands. Sudden stops/bank-panics are possible, and key for evaluating the merits of alternative ex-change rate regimes. Strategic complementarities...
Persistent link: https://www.econbiz.de/10005037756
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Properties of the monetary conditions index
Grande, Giuseppe - Volkswirtschaftliche Fakultät, … - 1997
In recent years increasing use has been made in monetary policy analysis of the so-called Monetary Conditions Index (MCI). The index is defined as a linear combination of changes in a short-term real interest rate and in the real effective exchange rate, whose coefficients are equal to the...
Persistent link: https://www.econbiz.de/10008776866