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The Federal Reserve review of its monetary policy framework
Párraga, Susana; Río López, Pedro del; Vega …
Artículo de revista ; This article offers an overview of the monetary policy framework review currently being conducted by the United States Federal Reserve (Fed). First, we examine the alternative strategies under consideration to address the likely greater incidence of episodes in which...
Persistent link: https://www.econbiz.de/10012523907
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Is Inflation Targeting the Best Policy Choice for Emerging Economies? A Survey of Emerging Market Experiences and Lessons for Pakistan
Khalid, Ahmed M. - 2006
In the aftermath of a major financial crisis in the 1990s, price stability has become an important argument of the future monetary policy stance in many emerging economies. As such, emerging economies in Asia and Latin America have switched to inflation targeting as their monetary policy. This...
Persistent link: https://www.econbiz.de/10009441615
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Monetary policy and disintermediation in South Africa : 1970–2010 / Michael Oldfield
Oldfield, Michael John - 2011
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...
Persistent link: https://www.econbiz.de/10009455940
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Is inflation targeting an appropriate framework for monetary policy? : experience from the inflation-targeting countries
Maumela, Patrick Konanani - 2010
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...
Persistent link: https://www.econbiz.de/10009457851
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Inflation targeting and monetary integration in European emerging market economies
Felix Hammermann - 2008
This study addresses the potential trade-off between inflation and exchange rate targeting in former transition countries, which now may be labeled emerging market economies and which prepare for entry into the Economic and Monetary Union (EMU). Among this group of countries, some implemented...
Persistent link: https://www.econbiz.de/10009429025
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A theory of managed floating
Wollmershäuser, Timo - 2003
. Neokeynesianische Modelle, auf deren Grundlage moderne Geldpolitik diskutiert wird, kommen zu dem Ergebnis, dass eine geeignete … anderes Wechselkursmodell das tatsächliche Zusammenspiel zwischen den beiden Finanzmarktgrößen Zins und Wechselkurs bestimmt … ergeben würden. Sterilisierte Devisenmarktinterventionen stellen somit ein zusätzliches Instrument der Geldpolitik dar, dass …
Persistent link: https://www.econbiz.de/10009433725
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Liquidity, term spreads and monetary policy
Aksoy, Yunus; Basso, Henrique S. - 2012
We propose a model that delivers endogenous variations in term spreads driven primarily by banks’ portfolio decision and their appetite to bear the risk of maturity transformation. We first show that fluctuations of the future profitability of banks’ portfolios affect their ability to cover...
Persistent link: https://www.econbiz.de/10012530386
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Making room for the needy : the credit-reallocation effects of the ECB’s corporate QE
Arce Hortigüela, Óscar Javier; Gimeno Nogués, Ricardo; … - 2017
Este trabajo analiza cómo afecta la compra de bonos corporativos por parte del Banco Central Europeo (BCE), conocido como CSPP, por sus siglas en inglés, a la financiación de las sociedades no financieras españolas. En primer lugar, se muestra que el anuncio del CSPP en marzo de 2016 tuvo un...
Persistent link: https://www.econbiz.de/10012530585
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The term structure of interest rates in a heterogeneous monetary union
Costain, James; Nuño, Galo; Thomas, Carlos
Es difícil cuadrar la reacción asimétrica de las curvas de tipos en el área del euro tras el anuncio del programa de compras de emergencia frente a la pandemia (PEPP, por sus siglas en inglés) del Banco Central Europeo (BCE) con la interpretación ortodoxa de los efectos de las compras de...
Persistent link: https://www.econbiz.de/10013272233
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El efecto de los programas de compras de activos del Banco Central Europeo en las cuentas públicas de España
Aguilar, Pablo; Alloza, Mario; Costain, James; Hurtado, …
This paper empirically quantifies the effect on Spain’s public finances of the asset purchase programmes implemented in the euro area between 2015 and 2022. Specifically, it evaluates the impact of the ECB’s Asset Purchase Programme (APP) and Pandemic Emergency Purchase Programme (PEPP) on...
Persistent link: https://www.econbiz.de/10014502662