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Level Versus Equivalent Intensity Carbon Mitigation Commitments

Tian, Huifang - 2014

Large population / rapidly growing economies such as China and India have argued that in the upcoming UNFCCC …

Persistent link: https://www.econbiz.de/10013070744

China's Participation in Global Environmental Negotiations

Tian, Huifang - 2014

In the paper we discuss China's participation in both the 2009 Copenhagen negotiations on a post-Kyoto global climate … change regime currently under way and out beyond Copenhagen in further negotiations likely to follow. China is now both the …. In the Copenhagen negotiation, there will be strong pressure on China to take on emissions reduction commitments and …

Persistent link: https://www.econbiz.de/10012751176

Monetary Policy and Asset Prices : A Look Back at Past U.S. Stock Market Booms

Bordo, Michael D. - 2011

This paper examines the economic environments in which past U.S. stock market booms occurred as a first step toward understanding how asset price booms come about and whether monetary policy should be used to defuse booms. We identify several episodes of sustained rapid rise in equity prices in...

Persistent link: https://www.econbiz.de/10013127756

Pride Goes Before a Fall : Federal Reserve Policy and Asset Markets

Reinhart, Carmen M. - 2011

Considerable debate rages about whether Federal Reserve policy was too lax in the early part of the 2000s, thereby fueling the home-price bubble that was the proximate cause of the global financial crisis. We present evidence that the view that modest alterations to monetary policy have vast...

Persistent link: https://www.econbiz.de/10013129137

Monetary Policy Strategy : Lessons from the Crisis

Mishkin, Frederic S. - 2011

This paper examines what we have learned and how we should change our thinking about monetary policy strategy in the aftermath of the 2007-2009 financial crisis. It starts with a discussion of where the science of monetary policy was before the crisis and how central banks viewed monetary policy...

Persistent link: https://www.econbiz.de/10013130559

Central Banks and the Financial System

Giavazzi, Francesco - 2010

Financial systems are inherently fragile because of the very function which makes them valuable: liquidity transformation. Regulatory reforms can strengthen the financial system and decrease the risk of liquidity crises, but they cannot eliminate it completely. This leaves monetary policy with a...

Persistent link: https://www.econbiz.de/10013139754

Dollar Illiquidity and Central Bank Swap Arrangements During the Global Financial Crisis

Rose, Andrew Kenan - 2011

While the global financial crisis was centered in the United States, it led to a surprising appreciation in the dollar, suggesting global dollar illiquidity. In response, the Federal Reserve partnered with other central banks to inject dollars into the international financial system. Empirical...

Persistent link: https://www.econbiz.de/10013121027

The Effect of Conventional and Unconventional Monetary Policy Rules on Inflation Expectations : Theory and Evidence

Farmer, Roger E. A. - 2012

This paper has three parts. Part 1 constructs a classical economic model of inflation, augmented by a complete set of financial markets; I call this the core monetary model. Part 2 develops a series of calibrated examples to illustrate how the core monetary model explains the history of...

Persistent link: https://www.econbiz.de/10013107515

Inflation Targeting and Financial Stability

Woodford, Michael - 2012

A number of commentators have argued that the desirability of inflation targeting as a framework for monetary policy analysis should be reconsidered in light of the global financial crisis, on the ground that it requires neglect of the implications of monetary policy for financial stability....

Persistent link: https://www.econbiz.de/10013108003

The Simple Analytics of Monetary Policy : A Post-Crisis Approach

Friedman, Benjamin M. - 2013

The standard workhorse models of monetary policy now commonly in use, both for teaching macroeconomics to students and for supporting policymaking within many central banks, are incapable of incorporating the most widely accepted accounts of how the 2007-9 financial crisis occurred and incapable...

Persistent link: https://www.econbiz.de/10013083392

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