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Complexity and monetary policy
Orphanides, Athanasios; Wieland, Volker - 2012
model averaging in policy design. Interestingly, a simple difference rule with the same coefficients on inflation and output …
Persistent link: https://www.econbiz.de/10010392194
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Did the crisis change it all? : evidence from monetary and fiscal policy
Mitreska, Ana; Vojnovic, Maja Kadievska; Georgievska, Ljupka - Narodna Banka na Republika Makedonija / Direkcija za … - 2010
have constrained monetary authorities to respond to inflation and output during crisis, while there is mixed evidence for …
Persistent link: https://www.econbiz.de/10011622637
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Estimating US Fiscal and Monetary Interactions : From Volcker Chairmanship to the Great Recession
Gerba, Eddie - 2013
Locating the appropriate degree of interaction between fiscal and monetary policy plays an important role in ensuring economic stability. Their joint impact is, however, still unclear. We observe significant differences in the transmission of shocks, in particular between the Great Recession and...
Persistent link: https://www.econbiz.de/10013073633
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Exigent and Unusual Circumstances : The Federal Reserve and the U.S. Financial Crisis
Johnson, Christian A. - 2013
The U.S. Federal Reserve has committed hundreds of billions of dollars in unprecedented lending activities and purchases of mortgage-backed securities based upon its authority under the Federal Reserve Act, and particularly upon its interpretation of Section 13(3), a formerly untested and unused...
Persistent link: https://www.econbiz.de/10013094881
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Stability and identification with optimal macroprudential policy rules
Chatelain, Jean-Bernard; Ralf, Kirsten - 2014 - Preprint
This paper investigates the identification, the determinacy and the stability of ad hoc, "quasi-optimal" and optimal policy rules augmented with financial stability indicators (such as asset prices deviations from their fundamental values) and minimizing the volatility of the policy interest...
Persistent link: https://www.econbiz.de/10010378907
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Essays on monetary economics
Furman, Jason - 2004
Persistent link: https://www.econbiz.de/10003383680
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Stability and Identification with Optimal Macroprudential Policy Rules
Chatelain, Jean-Bernard - 2014
This paper investigates the identification, the determinacy and the stability of ad hoc, "quasi-optimal" and optimal policy rules augmented with financial stability indicators (such as asset prices deviations from their fundamental values) and minimizing the volatility of the policy interest...
Persistent link: https://www.econbiz.de/10013055547
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Monetary Policy Inertia, Macroprudential Policy, and Financial Stability in a Liquidity Trap
Hasui, Kohei - 2021
After the colossal financial crisis of 2008, many monetary policy analyses have shown the profound implications for financial stability of monetary policy in a liquidity trap. This paper investigates how monetary policy in a liquidity trap affects financial stability in a New Keynesian model...
Persistent link: https://www.econbiz.de/10013240606
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Optimal monetary policy system for both macroeconomics and financial stability
Hur, Joonyoung; Oh, Hyoung Seok - In: KDI-journal of economic policy 46 (2024) 1, pp. 91-129
of our financial and economic systems. This study examines the applicability of the Integrated Inflation Targeting (IIT … inflation and growth in its policy decisions, with some responsiveness to the increase in household debt. However, the … estimation of a high interest rate smoothing coefficient suggests a cautious approach to interest rate adjustments. Furthermore …
Persistent link: https://www.econbiz.de/10014496719
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Policy Rules and Large Crises in Emerging Markets
Espino, Emilio; Kozlowski, Julian; Martin, Fernando M.; … - 2022
In response to the COVID-19 pandemic, Latin American countries temporarily suspended rules limiting debt, fiscal and monetary policies. Despite this increase in flexibility, the crisis implied a substantial deterioration of macroeconomic variables (e.g., real GDP declined by 9.5%) and high...
Persistent link: https://www.econbiz.de/10013492284