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Normalizing the fed funds rate: The fed's unjustified rationale
Dantas, Flavia - 2016
short some 20 million jobs. Further, there is no reason to believe that the current exceptionally low inflation rates are … transitory. Quite the contrary: without significant fiscal efforts to restore the bargaining power of labor, inflation rates are …
Persistent link: https://www.econbiz.de/10011784666
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Economic policy in India: For economic stimulus, or for austerity and volatility?
Sen, Sunanda; DasGupta, Zico - 2014
The implementation of economic reforms under new economic policies in India was associated with a paradigmatic shift in monetary and fiscal policy. While monetary policies were solely aimed at "price stability" in the neoliberal regime, fiscal policies were characterized by the objective of...
Persistent link: https://www.econbiz.de/10010513081
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What Do German Short-Term Interest Rates Tell Us About Future Inflation?
Grech, Harald - 2004
future inflation in Germany. Based on a multivariate term structure framework, a vector error forecasting equation for … inflation forecasts of up to two years is constructed. The results of the alternative error correction reveal that the level of … the shortterm interest rates conveys much more information on future inflation than the yield curve spreads. In particular …
Persistent link: https://www.econbiz.de/10013370011
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The coming US interest rate tightening cycle: Smooth sailing or stormy waters?
Arteta, Carlos Ó.; Kose, M. Ayhan; Ohnsorge, Franziska; … - 2015
temporarily reduce aggregate capital flows to EFEs by up to 2.2 percentage point of their combined GDP. Third, in anticipation of …
Persistent link: https://www.econbiz.de/10011440126
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Quantitative easing and proposals for reform of monetary policy operations
Fullwiler, Scott; Randall Wray, L. - 2010
price stability as the more important of the two. In our view, the Fed’s focus on inflation fighting diverted ist attention …
Persistent link: https://www.econbiz.de/10010286568
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Exit strategies for monetary policy
Berentsen, Aleksander; Kraenzlin, Sébastien; Müller, … - 2018
In response to the financial crisis of 2007/08, all major central banks decreased interest rates to historically low levels and created large excess reserves. Central bankers and academics currently discuss how to implement monetary policy, going forward. We find that paying interest on reserves...
Persistent link: https://www.econbiz.de/10011969181
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Japan's liquidity trap
Akram, Tanweer - 2016
foster renewed economic growth and prosperity. Paul Krugman (1998a, b) and Ben Bernanke (2000; 2002) identify low inflation … sustained monetary easing as the key to reigniting inflation, creating an exit from a liquidity trap through low interest rates …
Persistent link: https://www.econbiz.de/10011784652
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The long-run determinants of Indian government bond yields
Akram, Tanweer; Das, Anupam - 2017
This paper investigates the long-term determinants of Indian government bonds' (IGB) nominal yields. It examines whether John Maynard Keynes's supposition that short-term interest rates are the key driver of long-term government bond yields holds over the long-run horizon, after controlling for...
Persistent link: https://www.econbiz.de/10011784671
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The dynamics of government bond yields in the Eurozone
Akram, Tanweer; Das, Anupam - 2017
This paper investigates the determinants of nominal yields of government bonds in the eurozone. The pooled mean group (PMG) technique of cointegration is applied on both monthly and quarterly datasets to examine the major drivers of nominal yields of long-term government bonds in a set of 11...
Persistent link: https://www.econbiz.de/10011784679
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On the negatives of negative interest rates and the positives of exemption thresholds
Berentsen, Aleksander; van Buggenum, Hugo; Ruprecht, Romina - 2020
Major central banks remunerate reserves at negative interest rates and it is increasingly likely that they will keep rates negative for many more years. To study the long run implications of negative rates, we construct a dynamic general equilibrium model with commercial banks funding investment...
Persistent link: https://www.econbiz.de/10012420685