Similar Search Results

Monetary policy and Swedish unemployment fluctuations

Alexius, Annika; Holmlund, Bertil - 2008

such as unemployment. Previous studies indicate that monetary policy affects the output gap only at business cycle … frequencies, but the effects on unemployment may well be more persistent in countries with highly regulated labor markets. We … study the Swedish experience of unemployment and monetary policy. Using a structural VAR we find that around 30 percent of …

Persistent link: https://www.econbiz.de/10010317906

Monetary Policy and Swedish Unemployment Fluctuations

Alexius, Annika; Holmlund, Bertil - 2007

Persistent link: https://www.econbiz.de/10010321638

Monetary policy strategies of the European Central Bank and the Federal Reserve Bank of the US

Sardoni, Claudio; Wray, L. Randall - 2005

In the debate on monetary policy strategies on both sides of the Atlantic, it is now almost a commonplace to contrast the Fed and the ECB by pointing out the former's flexibility and capacity to adjust rigidity, and the latter's extreme caution, and obsession with low inflation. In looking at...

Persistent link: https://www.econbiz.de/10010276452

Some Fiscal Implications of Monetary Policy

Salyer, Kevin; Dellas, Harris - 2001

We study the implications of alternative monetary targeting procedures for real interest rates and economic activity. We find that countercyclical monetary policy rules lead to higher real interest rates, higher average tax rates, lower output but lower variability of tax rates and consumption...

Persistent link: https://www.econbiz.de/10010318602

Financing Government Expenditures Optimally

Yesin, Pinar Ayse - 2006

given government spending. A comparison of the actual and optimal interest rates reveals that tax collection costs and tax …

Persistent link: https://www.econbiz.de/10011430060

Monetary policy coordination: A new empirical approach

Bergin, Paul R.; Jordá, Oscar - 2000

This paper examines the degree of monetary policy coordination between major industrialized countries from a completely new perspective. The analysis uses a new data set on central bank issued interest rate targets for 14 OECD countries. The methodology that we use decomposes the notion of...

Persistent link: https://www.econbiz.de/10010318611

Cost of Holding Excess Reserves: The Indian Experience

Gupta, Abhijit Sen - 2008

Most of the existing literature has used single reserve adequacy measures to evaluate the volume of excess reserves. In this paper, we employ empirical methods to generate a comprehensive reserve adequacy measure, incorporating the various objectives of holding reserves, and compare the actual...

Persistent link: https://www.econbiz.de/10011807612

Central Bank Conservatism and Labor Market Reform

Jordahl, Henrik; Laséen, Stefan - 1999

hence the benefits of a reform. It also increases unemployment variability, which increases the precautionary benefits of a …

Persistent link: https://www.econbiz.de/10010321824

Assessing Central Bank Credibility During the EMS Crises : Comparing Option and Spot Market-Based Forecasts

Haas, Markus; Mittnik, Stefan; Mizrach, Bruce - 2004

Financial markets embed expectations of central bank policy into asset prices. This paper compares two approaches that extract a probability density of market beliefs. The first is a simulated moments estimator for option volatilities described in Mizrach (2002); the second is a new approach...

Persistent link: https://www.econbiz.de/10010263203

Easy Money through the Back Door: The Markets vs. the ECB

Bibow, Jörg - 2001

been quite impressive, meanwhile lowering the rate of unemployment by some three per cent compared to extremely high levels …, 1999; ECB 2000b), and recent declines in unemployment were accompanied by downward revisions in NAIRU estimates (OECD 2000b …

Persistent link: https://www.econbiz.de/10010263263