Transparency and openness of the monetary policymaking process at the Bank of England has provided very detailed information on both the decisions of individual members of the Monetary Policy Committee and the information on which they are based. We consider this decision making process in the...

This study examines the development of monetary theory and various policy frameworks as implemented at the time of writing. The aim of the study was to determine the effect of monetary policy on disintermediation and re–intermediation throughout the periods of the various monetary policy...

Is inflation targeting an appropriate framework for monetary policy? Experience from the inflation-targeting countries countries are optimistic about inflation targeting as a monetary-policy framework. South Africa is also following this trend.The international literature review of the topic...

This paper presents a critique of the traditional textbook representation of fiscal policy, and highlights the misleading policy implications perpetuated by this analysis. In particular, the conclusion that fiscal deficits are likely to be associated with higher interest rates is disputed, as is...

Pessimism about the current economy and its near-term prospects is overstated. The economy has grown at a 2 1/2% rate for the last two years. This is slightly lower than the average for the last century, but the difference is small. Concerns about near-term prospects have encouraged a return to...

Almost four years after the collapse of Lehman Brothers, the monetary policy stance in most advanced economies remains extraordinarily loose, with policy rates close to zero and a number of non-conventional stimuli still in place. The resulting prominence of monetary policy responds, first, to...

Ante un período muy prolongado de baja inflación, el Banco de Japón ha ido modificando su estrategia de política monetaria en las dos últimas décadas y ha sido pionero en la introducción de medidas no convencionales: desde reducir los tipos de interés oficiales a cero y, más...

Ante un período muy prolongado de baja inflación, el Banco de Japón ha ido modificando su estrategia de política monetaria en las dos últimas décadas y ha sido pionero en la introducción de medidas no convencionales: desde reducir los tipos de interés oficiales a cero y, más...

In this dissertation three different economic issues have been analyzed. The firstissue is whether monetary policy rules can improve forecasting accuracy of inflation.The second is whether the preference of a central bank is symmetry or not. The last issueis whether the behavior of aggregate...

Drawing on the theoretical and empirical evidence that private information risk is priced in the expected returns of equities, we hypothesize that information risk premium is an important component of the risk premium that leads to the violation of uncovered interest rate parity (UIRP). Using an...