Similar Search Results

How independent should a central bank be?

Debelle, Guy; Fischer, Stanley - In: Conference Series ; [Proceedings] 38 (1994), pp. 195-225

Persistent link: https://www.econbiz.de/10005361366

Trade dynamics in the market for federal funds

Afonso, Gara; Lagos, Ricardo - Federal Reserve Bank of New York - 2012

the model for theoretical and quantitative analyses of policy issues facing modern central banks. …

Persistent link: https://www.econbiz.de/10010551300

Inflation dynamics in a small open-economy model under inflation targeting: some evidence from Chile

Negro, Marco Del; Schorfheide, Frank - Federal Reserve Bank of New York - 2008

-targeting period of 1999 to 2007. We study the specification of the policy rule followed by the Central Bank of Chile, the dynamic …

Persistent link: https://www.econbiz.de/10005420627

Policy rules for inflation targeting

Rudebusch, Glenn D.; Svensson, Lars E. O. - Federal Reserve Bank of San Francisco - 1998

imply implicit instrument rules, may be closer to actual operating procedures of inflation-targeting central banks. We find … that inflation forecasts are central for good policy rules under inflation targeting. Some simple instrumental and …

Persistent link: https://www.econbiz.de/10010702303

Expectations, credibility, and disinflation in a small macroeconomic model

Huh, Chan G.; Lansing, Kevin J. - Federal Reserve Bank of San Francisco - 1998

We use a version of the Fuhrer-Moore model to study the effects of expectations and central bank credibility on the … model that vary according to the way that expectations are formed (rations versus adaptive) and the degree of central bank … central bank may face diminishing returns in its efforts to enhance credibility. …

Persistent link: https://www.econbiz.de/10010702305

Policy analysis using DSGE models: an introduction

Sbordone, Argia M.; Tambalotti, Andrea; Rao, Krishna; … - In: Economic Policy Review (2010) Oct, pp. 23-43

Many central banks have come to rely on dynamic stochastic general equilibrium, or DSGE, models to inform their … consistent with the increasing focus on the pronouncements of central bankers regarding their future actions. …

Persistent link: https://www.econbiz.de/10008679701

Are contemporary central banks transparent about economic models and objectives and what difference does it make? - commentary

Walsh, Carl E. - In: Review (2002) Jul, pp. 37-46

Persistent link: https://www.econbiz.de/10005724813

Are contemporary central banks transparent about economic models and objectives and what difference does it make?

Cukierman, Alex - In: Review (2002) Jul, pp. 15-36

Persistent link: https://www.econbiz.de/10005725999

Comparing forecast-based and backward-looking Taylor rules: a "global" analysis

Eusepi, Stefano - Federal Reserve Bank of New York - 2005

This paper examines the performance of forecast-based nonlinear Taylor rules in a class of simple microfunded models. The paper shows that even if the policy rule leads to a locally determinate (and stable) inflation target, there exist other learnable "global" equilibria such as cycles and...

Persistent link: https://www.econbiz.de/10005726618

A closed-form GARCH option pricing model

Heston, Steven L.; Nandi, Saikat - 1997

This paper develops a closed-form option pricing formula for a spot asset whose variance follows a GARCH process. The model allows for correlation between returns of the spot asset and variance and also admits multiple lags in the dynamics of the GARCH process. The single-factor (one-lag)...

Persistent link: https://www.econbiz.de/10010397476