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Currency Wars Yesterday and Today
Brahmbhatt, Milan; Canuto, Otaviano; Ghosh, Swati - In: World Bank - Economic Premise (2010) 43, pp. 1-6
An energetic debate on the danger of a global currency war has flared up in recent months, stoked by a renewed move to “quantitative easing” in the United States, resurgent capital flows to developing countries and strong upward pressure on emerging market currencies. This Economic Premise...
Persistent link: https://www.econbiz.de/10008837659
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The Roads Not Taken: Why the Bank of Canada Stayed With Inflation Targeting
Ragan, Christopher - C. D. Howe Institute - 2011
Bank of Canada’s inflation-targeting mandate, which was announced this week. Several other routes were available. Two of …, however, held more promise: (i) moving to a price-level targeting regime, or (ii) sticking with inflation targeting but with a …
Persistent link: https://www.econbiz.de/10009644861
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The Quest for Stability: the macro view
Buiter, Willem Hendrik; Gerlach, Stefan; Kool, Clemens J.M. - SUERF - The European Money and Finance Forum
On September 3-4, 2009 SUERF and Utrecht University School of Economicsorganized the Colloquium "The Quest for Stability" in Utrecht, the Netherlands. The papers included in this SUERF Study are based on contributions to the Colloquium.
Persistent link: https://www.econbiz.de/10008544608
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Dove or Hawk? characterizing monetary regime switches during financial liberalization in India
Hutchison, Michael; Sengupta, Rajeswari; Singh, Nirvikar - Volkswirtschaftliche Fakultät, … - 2011
The last decade has seen a worldwide move by emerging markets to adopt explicit or implicit inflation targeting regimes … influenced by a quasi inflation target? To address this point, we investigate monetary policy regime change in India using a … these regimes, the central bank reveals a greater relative (though not absolute) weight on controlling inflation vis …
Persistent link: https://www.econbiz.de/10009004833
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Uncertainty and the Zero Lower Bound: A Theoretical Analysis
Mendes, Rhys R. - Volkswirtschaftliche Fakultät, … - 2011
This paper demonstrates how to analytically characterize the set of rational expectations equilibria in a simple stochastic New Keynesian model with the zero lower bound. In this environment, purely forward-looking (non-history-dependent) monetary policies are not generally consistent with...
Persistent link: https://www.econbiz.de/10011107863
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Thinking ahead of the next big Crash
Bitros, George C. - Volkswirtschaftliche Fakultät, … - 2013
The real estate bubble which burst in 2008 in the USA was not exclusively the result of “animal spirits”, “crowed madness” or “irrational exuberance”. It resulted primarily because of the specific policies that the government, the Federal Reserve Board, and the regulators pursued....
Persistent link: https://www.econbiz.de/10011258416
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The Relationship between Wages and Prices in Colombia
Julio, Juan Manuel; Cobo, Adolfo - Volkswirtschaftliche Fakultät, … - 2000
implication of these results point to the very careful use of wages as leading indicator of inflation. …
Persistent link: https://www.econbiz.de/10011110129
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The Evolution of Theory and Practice of Monetary Policy as a Result of the Global Economic Crisis
Drobyshevsky, S.; Trunin, P. - In: Journal of the New Economic Association 24 (2014) 4, pp. 141-158
The authors analyze the evolution of global ideas on the optimal monetary policy in the aftermath of the global economic crisis. The authors provide the basic principles of the pre-crisis monetary policy and show that after the crisis, they have not changed fundamentally. It is also argued that...
Persistent link: https://www.econbiz.de/10011118410
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Monetary Policy: Short-Term Stabilization versus Long-Term Risks
Zamrazilová, Eva - In: Politická ekonomie 2014 (2014) 1, pp. 3-31
Central banks of major advanced economies have already started their sixth year of the greatest ever experiment in monetary policy at place. First, special measures were taken to prevent collapse of financial intermediation. At the same time main policy rates were cut down to historical lows...
Persistent link: https://www.econbiz.de/10011195222
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Two Crises, Two Ideas and One Question
Laidler, David - University of Western Ontario, Economic Policy Research … - 2012
Specific ideas about the Fisher relation between real and nominal interest rates and more general ideas about the nature of the central bank's duty to support the financial system in times of crisis were important to the Monetarist re-assessment of the causes of the Great Depression and what...
Persistent link: https://www.econbiz.de/10010681088