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Two essays on monetary policy under the Taylor rule

Goldberg, Dror (contributor); Li, Qi (contributor) - 2004

In this dissertation, two questions concerning monetary policy under the Taylor rule have been addressed. The ﬁrst question is on, under the Taylor rule, whether a central bank should be responsible for both bank supervision and monetary policy or whether the two tasks should be exercised by...

Persistent link: https://www.econbiz.de/10009464972

The difficulty of discerning what's too tight: Taylor rules and Japanese monetary policy

Posen, Adam; Kuttner, Kenneth - 2003

Observers have relied increasingly on simple reaction functions, such as the Taylor rule, to assess the conduct of monetary policy. Applying this approach to deflationary or near-zero inflation environments is problematic, however, and this paper examines two shortcomings of particular relevance...

Persistent link: https://www.econbiz.de/10009472315

How European is the European Central Bank's Monetary Policy?

Petrova, Teodora D. - 2010

and could drive their economies out of alignment (Salvatore, 2002).The literature on the topic suggests a theory also …

Persistent link: https://www.econbiz.de/10009449317

The Taylor rule and dynamic stability in a small macroeconomic model

Chappell, David; Turner, Paul - 2003

In this paper we embed the Taylor interest rate rule in a simple macroeconomic model with Calvo contracts. We contrast this with the case in which the interest rate is determined by the conventional LM curve along with a fixed value for the monetary aggregate. We derive conditions under which...

Persistent link: https://www.econbiz.de/10009461225

AN ANALYSIS ON MONETARY CONDITION INDEX IN TURKEY BY USING STRUCTURAL VAR ANALYSIS

AÇCI, Yunus; TASAR, Izzet - 2016

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

Economic structures, the nature of shocks and the role of exchange rate in the monetary policy formation in the emerging countries of East-Asia

Siok Kun Sek - 2009

This thesis investigates the role of exchange rate in a small open economy policy framework. Focusing the analysis on the crisis-hit East-Asian countries, the main objective of this thesis is to investigate the necessity of the monetary authority to concern about the exchange rate stability by...

Persistent link: https://www.econbiz.de/10009429030

Aggregate Information and the Role of Monetary Policy in an Open Economy

Kimbrough, K. P. - 1984

A model of a small open economy in which agents trade in local goods markets and an economy-wide asset market is developed. Purchasing-power parity is assumed to hold at the aggregate level. However, because of local deviations from purchasing-power parity, agents possess differential...

Persistent link: https://www.econbiz.de/10009475597

Essays in Telecommunications Economics

Heimeshoff, Gerrit Ulrich - 2008

the determinants of telecommunications investments and presents two possible solutions to the investment problem. The …

Persistent link: https://www.econbiz.de/10009451158

Adjustment is Much Slower than You Think

Caballero, Ricardo J.; Engel, Eduardo M.R.A. - 2003

holds for the microeconomic response of some of the most important economic variables, such as investment, labor demand, and … actual response to shocks is less than half as fast as the estimated response. For investment, labor demand and prices, the …, even after aggregating investment across all establishments in U.S. manufacturing, the estimate of its speed of adjustment …

Persistent link: https://www.econbiz.de/10009444189

On the Importance of Commodity and Energy Price Shocks for the Macroeconomy.

Edelstein, Paul S. - 2007

asymmetry is the response of nonresidential fixed investment to energy price shocks. In the third chapter, I show that the … apparent asymmetry in the estimated responses of business fixed investment in equipment and structures is largely an artifact … expenditures, and (2) of ignoring an exogenous shift in investment caused by the 1986 Tax Reform Act. Once symmetry is imposed and …

Persistent link: https://www.econbiz.de/10009477136

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