Similar Search Results

Poole, William - Federal Reserve Bank of San Francisco - 1994

Recent research has clarified the nature of measurement errors in U.S. price indexes. Changes in the quality of goods create severe problems. Laspeyres-type indexes suffer from substitution bias from one good to another and from one type of outlet to another. Available evidence suggests that the...

Persistent link: https://www.econbiz.de/10005078247

The monetary transmission mechanism: an empirical framework

Taylor, John B. - Federal Reserve Bank of San Francisco - 1995

This paper describes an empirical framework for analyzing the monetary transmission mechanism through which changes in monetary policy affect real GDP and inflation. The framework reflects the work of a large number of empirical researchers who have built econometric models of the impacts of...

Persistent link: https://www.econbiz.de/10005078259

Monetary "targeting" in Japan and the U.S.: which is more accurate?

Hutchison, Michael M.; Judd, John P. - Federal Reserve Bank of San Francisco - 1987

This paper examines the issue of whether differences in money targeting or base-drift procedures between Japan and the … concludes that these procedures probably are not important factors. ; We compare Bank of Japan (BoJ) money growth projections … with Federal Reserve money targets. We show that BoJ projections are not comparable to annual money targets set by the Fed …

Persistent link: https://www.econbiz.de/10005078266

Velocity in the 1980s: an analysis of interactions among monetary components

Judd, John P.; Trehan, Bharat - Federal Reserve Bank of San Francisco - 1987

We use vector autoregressions to examine the behavior of the velocities of alternative monetary aggregates, focusing on the role of disinflation and deregulation during the 1980s. By estimating a single system that contains income, prices, interest rates and the components of M3, we are able to...

Persistent link: https://www.econbiz.de/10005078276

The demand for money: where do we stand?

Judd, John P.; Motley, Brian; Trehan, Bharat - Federal Reserve Bank of San Francisco - 1988

Persistent link: https://www.econbiz.de/10005078279

The economic costs of achieving an M1 target over alternative time horizons: simulations with the FMP model

McElhattan, Rose - Federal Reserve Bank of San Francisco - 1974

Persistent link: https://www.econbiz.de/10005078280

Interest rate volatility and the Federal Reserve's monetary control procedures in 1980-82

Judd, John P. - Federal Reserve Bank of San Francisco - 1984

Persistent link: https://www.econbiz.de/10005078301

Optimal policy with limited commitment

Kasa, Kenneth - Federal Reserve Bank of San Francisco - 1994

This paper uses Whiteman's(1986) frequency-domain optimization methodology to parameterize the precommitment period in a standard rational expectations policy design model. This allows researchers to adopt an empirical approach to the time consistency issue. That is, the operative commitment...

Persistent link: https://www.econbiz.de/10005078309

Monetary policy and the theory of the risk-averse bank

Stiglitz, Joseph; Greenwald, Bruce - Federal Reserve Bank of San Francisco - 1993

Persistent link: https://www.econbiz.de/10005078332

Central bank secrecy and money surprises: international evidence

Hutchison, Michael; Judd, John P. - Federal Reserve Bank of San Francisco - 1991

The information value of central bank announcements of projected future money growth is shown to depend both on the … a new data set on internal Federal Reserve money projections. These projections, which are kept secret while they are in … force, are comparable in many important respects with publicly announced Bank of Japan money projections. Using a derivative …

Persistent link: https://www.econbiz.de/10005078333