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The “conservative central banker” has come under attack recently. Explicitly modeling the interaction of a trade union with monetary policy, it has been argued that the standard solution to the inflationary bias in monetary policy might actually be welfare reducing if the trade union has an...
Persistent link: https://www.econbiz.de/10009447268
Today' standard model of monetary policy has aggregate demand responding directly to an interest rate under the central bank's control, and ignores the role played by the quantity of money in the transmission mechanism. Even though monetary policy is usually aimed at controlling price level...
Persistent link: https://www.econbiz.de/10009447279
The object of the study – Lithuanian monetary policy. The purpose of the work – to estimate the level of achieved objectives of Lithuanian monetary policy and to forecast perspectives after joining to European Union. The main tasks: 1. to investigate the objectives, means and results of...
Persistent link: https://www.econbiz.de/10009478782
Inflation targeting is a forward-looking framework for monetary policy that has brought unprecedented transparency to the process of monetary policy. This paper aims to assess the degree to which the South African Reserve Bank's (SARB) Monetary Policy Committee (MPC) has, since the introduction...
Persistent link: https://www.econbiz.de/10009480479
Price stability is widely recognised as the primary goal of modern monetary policy, and the management of private sector inflation expectations has become an essential channel through which this goal is achieved. This evaluation aims to improve the understanding of how the sensitivity of private...
Persistent link: https://www.econbiz.de/10009480481
The Central Bank of Turkey (TCMB) has a significant power on aggregate demand and inflation expectation via monetary policy tools. While deciding monetary policies it’s a crucial question and a discussion topic for TCMB (Turkish Republic Central Bank) if the policy makers should take into...
Persistent link: https://www.econbiz.de/10011529234
Este documento demuestra que las políticas de un banco central local pueden atenuar los efectos del ciclo financiero global [Global Financial Cycle (GFC)]. Para su identificación, analizamos la variación del GFC y las intervenciones del Banco Central de Brasil en los mercados derivados de...
Persistent link: https://www.econbiz.de/10012523796
Arbeitsstunden und Löhnen in dieser Zeit erklären. Abschließend wird die Rolle der Geldpolitik während Aktienmarktbooms diskutiert …
Persistent link: https://www.econbiz.de/10009467149
untersuchen wir die Rolle der Geldpolitik während der Weltwirtschaftskrise in den USA. Die besondere Rolle der Geldpolitik gilt … Effekte der systematischen Komponente der Geldpolitik an. Wir finden heraus, dass der Anteil der Geldpolitik insgesamt zwar …
Persistent link: https://www.econbiz.de/10009467170
-Board-Systeme das Zeitinkonsistenzproblem der Geldpolitik lösen, da aufgrund ihrer gesetzlichen Verankerung eine überraschende … Zeitinkonsistenz­problem der Geldpolitik dominant ist, und dies obwohl asymmetrische Schocks nicht stabilisiert werden können. Eine …
Persistent link: https://www.econbiz.de/10009476166