interpretation: one factor captures the combined contribution of shocks that affect commodity markets only through general …

economic projections from 1974 to 2015 to construct a new measure of monetary policy shocks and estimate the effects of … monetary policy in Canada. We show that it is crucial to take into account the break in the conduct of monetary policy caused … by the announcement of inflation targeting in 1991 when estimating the effects of monetary policy. For instance, we find …

. Consequently, decision-makers consider multiple models that provide different predictions and policy recommendations and then … synthesize that information into a policy decision. We use Bayesian predictive decision synthesis (BPDS) as a way formalize this … monetary policy decision-making process. BPDS draws on recent developments in model combination and statistical decision theory …

This paper studies the interdependence between fiscal and monetary policy in a DSGE model with sticky prices and non … accommodates (independent) monetary policy, by adjusting current or future primary surpluses to satisfy the government … degrees of fiscal dominance. -- Economic models ; Fiscal policy ; Inflation: costs and benefits ; Monetary policy framework …

. Using U.S. data, we find that the monetary policy shock contributes to more than 50% the corporate spread variations at …, they in general contribute more for longer forecasting horizons. -- Debt management ; Financial markets ; Interest rates …

same country. Two types of monetary policy, inflation targeting (IT) and price level targeting (PT), have very different … welfare of households depends on the fiscal policy. -- Economic models ; Monetary policy framework ; Sectoral balance sheet …

Recent events in financial markets have underlined the importance of analyzing the link between the financial health of … experiments on the economy's response to technology and monetary policy shocks, as well as to disturbances originating within the … banking sector, which we interpret as episodes of distress in financial markets. We show that, following adverse shocks …

rates to explain the forward premium puzzle. We estimate this monetary policy reaction function within the framework of an … puzzle. -- Exchange rates ; Interest rates ; Transmission of monetary policy …