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Monetary Policy, Regulation and Volatile Markets

Calverley, John P.; Restoy, Fernando; Thuesen, Jesper … - 2008

and supervisory arrangements adequate when market volatility increases and financial institutions come under stress? In …

Persistent link: https://www.econbiz.de/10011689935

Real exchange rate and international reserves in the era of growing financial and trade integration

Aizenman, Joshua; Riera-Crichton, Daniel - 2006

This paper evaluates the impact of international reserves, terms of trade shocks and capital flows on the real exchange rate (REER). We observe that international reserves cushions the impact of TOT shocks on the REER, and that this effect is important for developing but not for industrial...

Persistent link: https://www.econbiz.de/10010322720

Real exchange rate and international reserves in an era of growing financial and trade integration

Aizenman, Joshua; Riera-Crichton, Daniel - 2006

Persistent link: https://www.econbiz.de/10010285305

Monetary policy under currency board arrangements: An necessary flexibility for transition countries?

Berensmann, Kathrin - 2003

effects of economic shocks on interest rates and on the volatility of banks' liquidity the Estonian and Lithuanian central …

Persistent link: https://www.econbiz.de/10010305746

What is global excess liquidity, and does it matter?

Rüffer, Rasmus; Stracca, Livio - 2006

This paper endeavours to provide a comprehensive analysis of the nature and the possible importance of “global excess liquidity”, a concept which has attracted considerable attention in recent years. The contribution of this paper is threefold. First, we present some conceptual discussion on...

Persistent link: https://www.econbiz.de/10011604742

Spinning out of control: Iceland in crisis

2009

Persistent link: https://www.econbiz.de/10014306476

Declining Output Volatility in Germany : Impulses, Propagation, and the Role of Monetary Policy

Fritsche, Ulrich; Kuzin, Vladimir N. - 2004

We analyse the decline in output volatility in Germany. A lower level of variance in an autoregressive model of output … error term variance (reduced impulses). In Germany the decline output volatility is due to a decline in the persistence of … sudden break. The evolution of Germany's short-term real interest rate volatility coincides with the change of the …

Persistent link: https://www.econbiz.de/10010274489

Interpreting the great moderation: Changes in the volatility of economic activity at the macro and micro levels

Davis, Steven J.; Kahn, James A. - 2008

We review evidence on the Great Moderation together with evidence about volatility trends at the micro level to develop … a potential explanation for the decline in aggregate volatility since the 1980s and its consequences. The key elements … are declines in firm-level volatility and aggregate volatility-most dramatically in the durable goods sector-but with no …

Persistent link: https://www.econbiz.de/10010283570

Uncertainty about perceived inflation target and monetary policy

Aoki, Kosuke; Kimura, Takeshi - 2007

persistence and volatility of inflation even though the underlying shocks are purely transitory. We also find that the persistence … and volatility become smaller as the inflation target becomes more credible, that is, the private agents' uncertainty …

Persistent link: https://www.econbiz.de/10010295855

The Rise and Fall of U.S. Inflation Persistence

Beechey, Meredith; Österholm, Pär - 2007

This paper estimates the path of inflation persistence in the United States over the last 50 years and draws implications about the evolution of the Federal Reserve's monetary-policy preferences. Standard models of central bank optimization predict that the central bank's preference for output...

Persistent link: https://www.econbiz.de/10010321537

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