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Advancing the frontiers of monetary policy

Adrian, Tobias (ed.); Laxton, Douglas (ed.); … - 2018

Inflation-forecast targeting is state of the art for monetary policy. This book explores first principles, including managing short-term policy trade-offs. The book also outlines efficient operational procedures and reviews the experiences of Canada, the Czech Republic, and India. The analysis...

Persistent link: https://www.econbiz.de/10011874333

Monetary Sovereignty, Exchange Rates, and Capital Controls : The Trilemma in the Interwar Period

Obstfeld, Maurice - 2012

disorder in the world economy. The interwar disorder often is linked to policies inconsistent with the constraint of the open … yield. This historical analytic narrative is compelling with significant ramifications for today's world, if true but … empirically controversial. We apply theory and empirics to the interwar data and find strong support for the logic of the trilemma …

Persistent link: https://www.econbiz.de/10012755788

Monetary Sovereignty, Exchange Rates, and Capital Controls : The Trilemma in the Interwar period

Obstfeld, Maurice - 2004

Persistent link: https://www.econbiz.de/10012468300

Natural and Neutral Real Interest Rates : Past and Future

Obstfeld, Maurice - National Bureau of Economic Research - 2023

This paper surveys the decline in real interest rates in advanced and emerging economies over the past several decades, linking that process to a range of global factors that have operated with different force in different periods. The paper argues that estimates of long-run equilibrium real...

Persistent link: https://www.econbiz.de/10014447270

Lender of Last Resort and Global Liquidity

Obstfeld, Maurice - 2009

One important lesson of the crisis is the need to take a systemic view of measures aimed at financial stability. Measures that enhance the stability of a single institution could be inimical to the stability of the financial system as a whole

Persistent link: https://www.econbiz.de/10012561662