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Ben Bernanke and the Zero Bound
Ball, Laurence M. - 2012
level, is that he was influenced by analysis from the Fed staff that was presented at the FOMC meeting of June 2003. This …
Persistent link: https://www.econbiz.de/10012460822
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The Impact of the Federal Reserve Bank's Open Market Operations
Harvey, Campbell R. - 1994
The Federal Reserve Bank has the ability to change the money supply and to shape the expectations of market participants through their open market operations. These operations may amount to 20% of the day's volume and are concentrated during the half hour known as `Fed Time'. Using previously...
Persistent link: https://www.econbiz.de/10012474273
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Leadership in Groups : A Monetary Policy Experiment
Blinder, Alan S. - 2007
In an earlier paper (Blinder and Morgan, 2005), we created an experimental apparatus in which Princeton University students acted as ersatz central bankers, making monetary policy decisions both as individuals and in groups. In this study, we manipulate the size and leadership structure of...
Persistent link: https://www.econbiz.de/10012465259
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Are Two Heads Better Than One? : An Experimental Analysis of Group vs. Individual Decisionmaking
Blinder, Alan S. - 2000
Two laboratory experiments - one a statistical urn problem, the other a monetary policy experiment - were run to test the commonly-believed hypothesis that groups make decisions more slowly than individuals do. Surprisingly, this turns out not to be true there is no significant difference in...
Persistent link: https://www.econbiz.de/10012470828
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Innovation Adoption by Committee : Evaluating Decision-Making in the FDA
Canen, Nathan J.; Iaryczower, Matiás - National Bureau of Economic Research - 2024
The FDA is responsible for the approval of new drugs, biological products and medical devices in the United States. As part of the approval process, the FDA relies on advisory committees, which provide independent advice from outside experts. We combine a structural approach with newly collected...
Persistent link: https://www.econbiz.de/10015056111
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The Global Financial Cycle
Miranda-Agrippino, Silvia; Rey, Hélène - National Bureau of Economic Research - 2021
We review the literature on the empirical characteristics of the global financial cycle and associated stylized facts on international capital flows, asset prices, risk aversion and liquidity in the financial system. We analyse the co-movements of global factors in asset prices and capital flows...
Persistent link: https://www.econbiz.de/10012660005
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Diverse Policy Committees Can Reach Underrepresented Groups
D'Acunto, Francesco; Fuster, Andreas; Weber, Michael - National Bureau of Economic Research - 2021
representation on the Federal Reserve's monetary policy committee, the FOMC, we test whether diversity affects how Fed information … influences consumers' subjective beliefs. Women and Black respondents form unemployment expectations more in line with FOMC … associated with a female official. White men, who are overrepresented on the FOMC, do not react negatively. Heterogeneous taste …
Persistent link: https://www.econbiz.de/10012629495
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Identifying Monetary Policy Shocks Using the Central Bank's Information Set
Bachmann, Ruediger; Gödl-Hanisch, Isabel; Sims, Eric R. - National Bureau of Economic Research - 2021
We identify monetary policy shocks by exploiting variation in the central bank's information set. To be specific, we use differences between nowcasts of the output gap and inflation with final, revised estimates of these series to isolate movements in the policy rate unrelated to economic...
Persistent link: https://www.econbiz.de/10012794600
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U.S. Foreign-Exchange-Market Intervention and the Early Dollar Float : 1973 - 1981
Bordo, Michael D. - 2010
limited ability to smooth dollar movements. Only after the Volcker FOMC changed its monetary-policy approach and demonstrated …
Persistent link: https://www.econbiz.de/10012462009
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U.S. Foreign-Exchange-Market Intervention during the Volcker-Greenspan Era
Bordo, Michael D. - 2010
responsibility for foreign-exchange intervention only compounded this uncertainty. In addition, many FOMC participants feared that …
Persistent link: https://www.econbiz.de/10012462311