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New paradigms in monetary theory and policy?
Balling, Morten (ed.); Orphanides, Athanasios (ed.) - New Paradigms in Money and Finance? <Veranstaltung> …; … - 2012
On 11-12 May 2011, SUERF and the Belgian Financial Forum, in association with the Brussels Finance Institute and the Centre for European Policy Studies (CEPS) organized the 29th SUERF Colloquium "New Paradigms in Money and Finance?". All the papers in the present SUERF Study are based on...
Persistent link: https://www.econbiz.de/10011711450
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Inflation Zone Targeting
Orphanides, Athanasios; Wieland, Volker - 2021
a rationale for the practice of inflation zone targeting. We show that the presence of either zone-quadratic preferences … or a zone-linear relationship between inflation and economic activity provides strong incentives to deviate from … structure and relative preference towards economic stability in determining the width of the implied targeted inflation zone …
Persistent link: https://www.econbiz.de/10013320328
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New Paradigms in Monetary Theory and Policy?
Balling, Morten; Llewellyn, David T.; Orphanides, Athanasios - 2012
On 11-12 May 2011, SUERF and the Belgian Financial Forum, in association with the Brussels Finance Institute and the Centre for European Policy Studies (CEPS) organized the 29th SUERF Colloquium “New Paradigms in Money and Finance?” All the papers in the present SUERF Study are based on...
Persistent link: https://www.econbiz.de/10011689952
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A quantitative exploration of the opportunistic approach to disinflation
Aksoy, Yunus; Orphanides, Athanasios; Small, David; … - 2005
inflation and its target, and the gap between output and its potential. Under 'the opportunistic approach to disinflation' a … central bank controls inflation aggressively when inflation is far from its target, but concentrates more on output … stabilization when inflation is close to its target, allowing supply shocks and unforeseen fluctuations in aggregate demand to move …
Persistent link: https://www.econbiz.de/10010298307
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Price stability and monetary policy effectiveness when nominal interest rates are bounded at zero
Coenen, Günter; Orphanides, Athanasios; Wieland, Volker - 2003
target inflation rates as low as 2 percent. However, the effects of the constraint are non-linear with respect to the inflation … percent. The variability of output increases significantly and that of inflation also rises somewhat. Also, we show that the … increasingly short of potential with lower inflation targets. …
Persistent link: https://www.econbiz.de/10009635983
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Price Stability and Monetary Policy Effectiveness When Nominal Interest Rates are Bounded at Zero
Coenen, Günter; Orphanides, Athanasios; Wieland, Volker - 2021
target inflation rates as low as 2 percent. However, the effects of the constraint are non-linear with respect to the … inflation target and produce a quantitatively significant deterioration of the performance of the economy with targets between 0 … and 1 percent. The variability of output increases significantly and that of inflation also rises somewhat. Also, we show …
Persistent link: https://www.econbiz.de/10013321429
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A Quantitative Exploration of the Opportunistic Approach to Disinflation
Aksoy, Yunus; Orphanides, Athanasios; Small, David H.; … - 2005
inflation and its target, and the gap between output and its potential. Under the opportunistic approach to disinflation a … central bank controls inflation aggressively when inflation is far from its target, but concentrates more on output … stabilization when inflation is close to its target, allowing supply shocks and unforeseen fluctuations in aggregate demand to move …
Persistent link: https://www.econbiz.de/10014062714
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Monetary Policy in Deflation : The Liquidity Trap in History and Practice
Orphanides, Athanasios - 2004
The experience of the U.S. economy during the mid-1930s, when short-term nominal interest rates were continuously close to zero, is sometimes taken as evidence that monetary policy was ineffective and the economy was in a liquidity trap. Close examination of the historical policy record for the...
Persistent link: https://www.econbiz.de/10014073136
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Inflation zone targeting
Orphanides, Athanasios; Wieland, Volker - 1999
a rationale for the practice of inflation zone targeting. We show that the presence of either zone-quadratic preferences … or a zone-linear relationship between inflation and economic activity provides strong incentives to deviate from … structure and relative preference towards economic stability in determining the width of the implied targeted inflation zone. …
Persistent link: https://www.econbiz.de/10011604054
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A quantitative exploration of the opportunistic approach to disinflation
Aksoy, Yunus; Orphanides, Athanasios; Small, David; … - Center for Financial Studies - 2005
inflation and its target, and the gap between output and its potential. Under the opportunistic approach to disinflation a … central bank controls inflation aggressively when inflation is far from its target, but concentrates more on output … stabilization when inflation is close to its target, allowing supply shocks and unforeseen fluctuations in aggregate demand to move …
Persistent link: https://www.econbiz.de/10010986427