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The Stabilizing Properties of Floating Exchange Rates: Some International Evidence
Bergvall, Anders - 2002
This paper analyzes the stabilizing properties of alternative monetary policy regimes. In practice there is a choice between two broad types of monetary policy regimes: a fixed exchange rate regime or a floating exchange rate regime. In this paper I compare exchange rate targeting with different...
Persistent link: https://www.econbiz.de/10010321739
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Import protection, business cycles, and exchange rates: Evidence from the great recession
Bown, Chad P.; Crowley, Meredith A. - 2011
This paper uses highly detailed, quarterly data for five major industrialized economies to estimate the impact of macroeconomic fluctuations on import protection policies over 1988:Q1 - 2010:Q4. First, estimates on a pre-Great Recession sample of data provide evidence of two key relationships....
Persistent link: https://www.econbiz.de/10010292150
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Does it matter how people speak?
Chong, Alberto - 2006
Language serves two key functions. It enables communication between agents, which allows for the establishment and operation of formal and informal institutions. It also serves a less obvious function, a reassuring quality more closely related to issues linked with trust, social capital, and...
Persistent link: https://www.econbiz.de/10010278281
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Disability-based labour market inequalities
Pettinicchio, David; Maroto, Michelle - 2024
Despite changing attitudes around disability over time, people with disabilities still face large barriers to labour market participation. We apply a sociological framework that considers both supply- and demand-side explanations for labour market inequality to help understand the continuing...
Persistent link: https://www.econbiz.de/10015054234
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Do central banks respond to exchange rate movements? A structural investigation
Lubik, Thomas A.; Schorfheide, Frank - 2003
not, whereas the Bank of Canada does include the nominal exchange rate in its policy rule. This result is robust for … main focus is the conduct of monetary policy in Australia, Canada, New Zealand and the U.K., as measured by nominal …
Persistent link: https://www.econbiz.de/10010293466
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Why did Czech Banks Switch From Loans in 1995?
Nilsen, Jeffrey H. - 1998
? Using data from the Czech National Bank and data on individual Czech banks, I find evidence that in 1995 banks are provided … portfolio switch and find that the central bank instituted a monetary tightening during a regime of fixed exchange rates and … mobile capital. The central bank sterilized the continuing capital inflows. The resulting higher interbank interest rates and …
Persistent link: https://www.econbiz.de/10011430003
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New Keynesian dynamics in a low interest rate environment
Braun, R. Anton; Körber, Lena Mareen - 2011
Recent research has found that the dynamic properties of the New Keynesian model can be very different when the nominal interest rate is zero. Improvements in technology and reductions in the labor tax rate lower economic activity, and the size of the government purchase output multiplier can be...
Persistent link: https://www.econbiz.de/10010292223
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Greenspan and the Greenbook
Tchaidze, Robert R. - 2002
A vast literature has emerged using Taylor rules to analyze monetary policy Although very attractive both theoretically and empirically such rules imply a mechanical response by the policy variable to fundamental ones This study looks for empirical evidence of a more sophisticated monetary...
Persistent link: https://www.econbiz.de/10010293458
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An inventory of simple monetary policy rules in a new Keynesian macroeconomic model
Lubik, Thomas A.; Marzo, Massimiliano - 2003
We derive necessary and suffcient conditions for simple monetary policy rules that guarantee equilibrium determinacy in the New Keynesian monetary model. Our modeling framework is derived from a fully specified optimization model that is still amenable to analytical characterisation. The...
Persistent link: https://www.econbiz.de/10010293494
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Optimal Monetary Policy under Downward Nominal Wage Rigidity
Carlsson, Mikael; Westermark, Andreas - 2007
We develop a New Keynesian model with staggered price and wage setting where downward nominal wage rigidity (DNWR) arises endogenously through the wage bargaining institutions. It is shown that the optimal (discretionary) monetary policy response to changing economic conditions then becomes...
Persistent link: https://www.econbiz.de/10010321528