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Responding to a Monetary Superpower: Investigating the Behavioral Spillovers of U.S. Monetary Policy

Gray, Colin - In: Atlantic Economic Journal 41 (2013) 2, pp. 173-184

Between 2002 and 2006, the Federal Reserve set interest rates significantly below the rates suggested by well-known monetary policy rules. There is a growing body of research suggesting that this helped fuel an excess of liquidity in the U.S. that contributed to the 2008 worldwide financial...

Persistent link: https://www.econbiz.de/10010866465

El nivel de precios, la política monetaria y la regla de Taylor en una economía IS/LM de precios flexibles

Lizarazu Alanez, Eddy - In: Revista Nicolaita de Estudios Económicos VIII (2013) 2, pp. 7-34

We study a flexible price IS/LM economy in which the money supply and interest rate play the role of monetary policy instruments. If the central bank sets the nominal interest rate, the ambiguity in the price level is manifested. However, the equilibrium price level is permissible, if the...

Persistent link: https://www.econbiz.de/10010991609

Imperfect Competition, Monetary Policy and Welfare in a Currency Area

Lombardo, Giovanni - Deutsche Bundesbank - 2002

auf die Wohlfahrt und die optimale Geldpolitik. Betrachtet werden zwei Möglichkeiten, wie die Wettbewerbsintensität am … die Geldpolitik effektiver sein, wenn die Länder größere Asymmetrien aufweisen. Diese Ergebnisse legen es nahe, dass die … intensiver ist. Die optimale Geldpolitik der Zentralbank der Währungsunion wird ermittelt und mit einer einfachen Taylor …

Persistent link: https://www.econbiz.de/10005083139

On the Strength of the US dollar: Can it be Explained by Output Growth?

Vlaar, P.J.G. - de Nederlandsche Bank - 2001

One popular view on the current strength of the US dollar is that the higher growth in the US compared to Europe has stimulated foreigners to buy American assets, thereby driving up the exchange rate. In this paper a modified portfolio balance model is presented, in which it is shown that the...

Persistent link: https://www.econbiz.de/10005021860

Shocking the Eurozone

Vlaar, P.J.G. - de Nederlandsche Bank - 2002

In this paper, the monetary transmission mechanism within the European Monetary Union is investigated. The impulse response functions and forecast error variance decompositions of a structural vector error correction model (SVECM) are compared with those of a New Keynesian theoretical model. The...

Persistent link: https://www.econbiz.de/10005021880

On the Strenght of the US Dollar: Can it be Explained by Output Growth?

Vlaar, P.J.G. - de Nederlandsche Bank - 2003

Persistent link: https://www.econbiz.de/10005021895

Factor Analysis in a New-Keynesian Model

Beyer, Andreas; Farmer, Roger E A; Henry, Jérôme; … - C.E.P.R. Discussion Papers - 2005

New-Keynesian models are characterized by the presence of expectations as explanatory variables. To use these models for policy evaluation, the econometrician must estimate the parameters of expectation terms. Standard estimation methods have several drawbacks, including possible lack of...

Persistent link: https://www.econbiz.de/10005662376

Equitity prices and Monetary Policy: An Overview with an Exploratory Model

Alexandre, Fernando; Bação, Pedro - Núcleo de Investigação em Políticas Económicas … - 2002

Financial stability, with an emphasis on the relevance of asset prices stability to the stability of the overall economy, has become the sub ject of wide discussion among monetary authorities. Closely related to these issues are the concerns of central bankers with a bubble economy and its...

Persistent link: https://www.econbiz.de/10005572444

Monetary policy, investment and non-fundamental shocks

Alexandre, Fernando - Society for Computational Economics - SCE - 2003

Persistent link: https://www.econbiz.de/10005706818

Optimal Monetary Policy and Long-term Interest Rate Dynamics: Taylor Rule Extensions

Casellina, Simone; Uberti, Mariacristina - In: Computational Economics 32 (2008) 1, pp. 183-198

Persistent link: https://www.econbiz.de/10005701707