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This paper studies the role of the yen/dollar exchange rate in the Bank of Japan?s monetary policy reaction function …
Persistent link: https://www.econbiz.de/10010296337
The paper discusses global current account imbalances in the context of an asymmetric world monetary system and asymmetric current account developments. It identifies the US and Germany as center countries with rising / high current account deficits (US) and surpluses (Germany). These are...
Persistent link: https://www.econbiz.de/10010334477
implementing sterilization costs into the central bank's objective function the inflation bias increases. …
Persistent link: https://www.econbiz.de/10010270652
interaction between the monetary regime, that is the behaviour of the central bank/monetary authorities, and the fiscal regime … the past, a monetary regime based on the commitment to convertibility of the domestic currency into specie, the … commitment such as the goal of price stability or low inflation or an external commitment to peg to a foreign currency will …
Persistent link: https://www.econbiz.de/10010281355
Canada played an important role in the postwar establishment of the International Monetary Fund (IMF), yet it was also the first major member to challenge the orthodoxy of the BrettonWoods par value system by abandoning it in 1950 in favour of a floating, market-determined exchange rate....
Persistent link: https://www.econbiz.de/10003790221
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"In this paper we provide some evidence on when central banks have shifted from expansionary to contractionary monetary policy after a recession has ended-the exit strategy. We examine the relationship between the timing of changes in several instruments of monetary policy and the timing of...
Persistent link: https://www.econbiz.de/10003937037
Persistent link: https://www.econbiz.de/10003989596