Similar Search Results

Actual Federal Reserve Policy Behavior and Interest Rate Rules

Fair, Ray C. - Yale University <New Haven, Conn.> / Department of Economics - 2001

[...]It seems clear that the Federal Reserve’s policy behavior overthe 1979:4-1982:3 period (which I refer to as the “earlyVolcker” period) differed from that of other periods.1 Thestated policy of the Federal Reserve during this period was tofocus more on monetary aggregates than it had...

Persistent link: https://www.econbiz.de/10005869900

Formation of Fiscal Policy: The Experience of the Past Twenty-Five Years

Auerbach, Alan J. - University of California <Berkeley, Calif.> / Berkeley … - 2000

[...]With fiscal affairs apparently in order—at least in the shortrun—and with some perspective on the past twenty-five years’economic performance, we are in a position to ask how well thebudget process has worked to produce a coherent andresponsive fiscal policy, particularly given the...

Persistent link: https://www.econbiz.de/10005870023

Legal Structure, Financial Structure, and the Monetary Policy Transmission Mechanism

Cecchetti, Stephen G. - Federal Reserve Bank <New York, NY> - 1999

[...]The task facing the Eurosystem is even morecomplex than that facing countries with stable monetaryregimes, where the measurement of the national andregional impact of policy has already proved to be extremelydifficult. The creation of the Eurosystem constitutes aregime shift in virtually...

Persistent link: https://www.econbiz.de/10005870058

Formulas or Supervision? Remarks on the Future of Regulatory Capital

Estrella, Arturo - Federal Reserve Bank <New York, NY>; London School of … - 1998

[...]This paper focuses on the relative emphasis thatthe structure of regulatory capital places on formulas andon supervision. The two are not viewed as mutually exclusive,but as elements to which capital policy implicitlyassigns relative weights. We will see that in U.S. regulatorypractice,...

Persistent link: https://www.econbiz.de/10005870086

Money guidance and retirement savings advice: a critical view

Altmann, Ros - Chartered Insurance Institute - 2008

The Government’s feasibility study into a national financial advice service was long awaited by both industry and consumer groups alike. However there are some practical issues still outstanding as the recommendations are taken forward as pathfinder projects over the next year. In this...

Persistent link: https://www.econbiz.de/10005870108

Is There an Inflation Puzzle?

Lown, Cara S.; Rich, Robert W. - Federal Reserve Bank <New York, NY>; London School of … - 1997

[...]This article explores the inflation puzzle andinvestigates whether compensation has acted as either atemporary … restraint on inflation or as the underlying sourceof a new inflation regime.2 After reviewing the recent behavior of inflation …, we specify and estimate a traditionalprice-inflation Phillips curve model over the 1965-96period. Our results show that …

Persistent link: https://www.econbiz.de/10005870223

A Framework for the Pursuit of Price Stability

McDonough, William J. - Federal Reserve Bank <New York, NY> - 1997

impact on inflation and the economy. Thisimmediate horizon is on the order of two to three years.This orientation properly … price stabilityarticulated by Chairman Greenspan: that price stabilityexists when inflation is not a consideration in …

Persistent link: https://www.econbiz.de/10005870224

The Rationale for Inflation Targeting

Mishkin, Frederic S.; Posen, Adam Simon - Federal Reserve Bank <New York, NY> - 1997

[...]The first intellectual development challenging the use ofan activist monetary policy to stimulate output and reduceunemployment is the finding, most forcefully articulatedby Milton Friedman, that the effects of monetary policyhave long and variable lags.1 The uncertainty of the timingand...

Persistent link: https://www.econbiz.de/10005870226

Design Issues in the Implementation of Inflation Targets

Mishkin, Frederic S.; Posen, Adam Simon - Federal Reserve Bank <New York, NY> - 1997

[...]In the case studies that follow, we will see that thedesign choices for an inflation-targeting regime fall …

Persistent link: https://www.econbiz.de/10005870227

German Monetary Targeting: A Precursor to Inflation Targeting

Mishkin, Frederic S.; Posen, Adam Simon - Federal Reserve Bank <New York, NY>; London School of … - 1997

examined inthis study. Indeed, as pointed out in Bernanke and Mishkin(1997), Germany might best be thought of as a “hybrid”inflation …

Persistent link: https://www.econbiz.de/10005870228