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New Paradigms in Monetary Theory and Policy?
Haldane, Andrew G.; Coulibaly, Dramane; Kempf, Hubert; … - SUERF - The European Money and Finance Forum
On 11-12 May 2011, SUERF and the Belgian Financial Forum, in association with the Brussels Finance Institute and the Centre for European Policy Studies (CEPS) organized the 29th SUERF Colloquium “New Paradigms in Money and Finance?” All the papers in the present SUERF Study are based on...
Persistent link: https://www.econbiz.de/10009651458
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Inflation Targeting and Its Impact on the Nature of the Money Supply and the Financial Imbalances
Munzi, Tomáš; Hlaváč, Petr - In: Politická ekonomie 2011 (2011) 4, pp. 435-453
This paper provides a theoretical framework for a thesis that the transition to the inflation targeting regime, either explicit or implicit, may be one of the causes of the long-term latent accumulations of the financial and structural imbalances, materializing much later and with more dire...
Persistent link: https://www.econbiz.de/10009293715
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Inflation Targeting as the Monetary Policy Framework: Bangladesh Perspective
ISLAM, Mohammed SAIFUL; UDDIN, Mohammad Taslim - In: Economia. Seria Management 14 (2011) 1, pp. 106-119
Inflation targeting strategy has become a widely accepted monetary policy framework in many countries all over the world. Our study finds that the central bank of Bangladesh is neither inflation targeting nor does follow any other rule-guided monetary policy, rather the policy is formulated with...
Persistent link: https://www.econbiz.de/10009644223
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Monetary Policy: Old Lessons and New Challenges
Zamrazilová, Eva - In: Politická ekonomie 2011 (2011) 1, pp. 3-21
The relatively long term period of stability before the present crises called even "Great Moderation" or "Golden Age of Central Banking" indicated that the infl ation targeting was a success story. As of 2008 a lot has changed and the debate over "Leaning against the wind or Clean afterwards?"...
Persistent link: https://www.econbiz.de/10008876466
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The effects of capital market openness on exchange rate pass-through and welfare in an inflation targeting small open economy
Mukherjee, Sanchita - Volkswirtschaftliche Fakultät, … - 2011
This paper analyzes the impact of capital market openness on exchange rate pass-through and subsequently on the social loss in an inflation targeting small open economy under a pure commitment policy. Applying the intuition behind the macroeconomic trilemma, I examine whether a more open capital...
Persistent link: https://www.econbiz.de/10009004851
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Some Lessons from Six Years of Practical Inflation Targeting
Svensson, Lars E O - C.E.P.R. Discussion Papers - 2013
My lessons from six years of practical policy-making include (1) being clear about and not deviating from the mandate of flexible inflation targeting (price stability and the highest sustainable employment), including keeping average inflation over a longer period on target; (2) not adding...
Persistent link: https://www.econbiz.de/10011083489
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Policy Shocks in a Monetary Asset-Pricing Model with Endogenous Production
Schittko, Ulrich K.; Müller, Markus - In: Journal of Economics and Statistics (Jahrbuecher fuer … 218 (1999) 1+2, pp. 147-167
In a framework of a monetary asset pricing model with production the effects of monetary and fiscal policy shocks are investigated. The model is kept simple enough to generate explicit formulae for the equilibrium price functions. With money yielding liquidity services in the exchange process...
Persistent link: https://www.econbiz.de/10008596435
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Have Long-term Financial Trends Changed the Transmission of Monetary Policy?
Cournède, Boris; Ahrend, Rudiger; Price, Robert W.R. - Economics Department, Organisation de Coopération et … - 2008
This paper addresses the question of whether and how long-term financial trends may have modified the transmission mechanism from monetary policy decisions to economic activity. The focus is on longterm changes, abstracting from the disruptions created by the 2007-08 financial turmoil which are...
Persistent link: https://www.econbiz.de/10005045625
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Should Canadian Monetary Policy Respond to Asset Prices? Evidence from a Structural Model.
Fiodendji, Daniel Komlan - Département d'Économie / Department of Economics, … - 2012
Although the Bank of Canada admits asset prices are considered in its policy deliberations because of their effects on … inflation or output gap, the Bank of Canada denies trying to stabilize asset prices around fundamental values. However, since … the start of the Bank of Canada we have seen a boom as well as a bust in the stock market. Are we to believe that the Bank …
Persistent link: https://www.econbiz.de/10010570810
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Context of Economic Policy and the Current Financial and Economic Crisis
Czesaný, Slavoj - In: Politická ekonomie 2013 (2013) 6, pp. 770-794
The objective of the article is to identify impact of economic policy implications on current financial and economic crisis. The analysis examines a hypothesis that the main causes of financial and economic crisis include unbalanced developments of the macroeconomic sphere as well as existing...
Persistent link: https://www.econbiz.de/10011195207