Narrow search
Showing 1 - 10 of 4,636
Cover Image
Outside Versus Inside Bonds : A Modigliani-Miller Type Result for Liquidity Constrained Economies
Berentsen, Aleksander - 2009
When agents are liquidity constrained, two options exist — sell assets or borrow. We compare the allocations arising in two economies: in one, agents can sell government bonds (outside bonds) and in the other they can borrow (issue inside bonds). All transactions are voluntary, implying no...
Persistent link: https://www.econbiz.de/10013156118
Cover Image
Outside Versus Inside Bonds : A Modigliani-Miller Type Result for Liquidity Constrained Economies
Berentsen, Aleksander; Waller, Christopher J. - 2009
When agents are liquidity constrained, two options exist - sell assets or borrow. We compare the allocations arising in two economies: In one, agents can sell government bonds (outside bonds) and in the other they can borrow (issue inside bonds). All transactions are voluntary, implying no...
Persistent link: https://www.econbiz.de/10014201980
Cover Image
The Bank of Canada's "horse race" of alternative monetary policy frameworks: some interim results from model simulations
Dorich, José; Mendes, Rhys; Zhang, Yang - 2021
Since 1991, the Bank of Canada has had an inflation‐targeting (IT) framework established by a joint agreement between … the Bank and the Government of Canada. The framework is reviewed every five years as part of the process for renewing the … 2020 workshop, "Towards the 2021 Renewal of the Bank of Canada's Monetary Policy Framework." The Bank will publish updated …
Persistent link: https://www.econbiz.de/10012613645
Cover Image
Labour Markets, Liquidity, and Monetary Policy Regimes
Andolfatto, David; Hendry, Scott; Moran, Kevin - 2004
We develop an equilibrium model of the monetary policy transmission mechanism that highlights information frictions in the market for money and search frictions in the labour market. The information friction increases the persistence in the response of interest rates following monetary policy...
Persistent link: https://www.econbiz.de/10014072220
Cover Image
Quantitative Tightening Around the Globe : What Have We Learned?
Du, Wenxin; Forbes, Kristin; Luzzetti, Matthew N. - National Bureau of Economic Research - 2024
central bank balance sheets. We analyze the experience in seven advanced economies (Australia, Canada, Euro area, New Zealand …
Persistent link: https://www.econbiz.de/10014528361
Cover Image
A comprehensive evaluation of measures of core inflation for Canada: an update
Lao, Helen; Steyn, Ceciline - 2019
of monetary policy. We find that the Bank of Canada's current preferred measures of core inflation-CPI-trim, CPI …
Persistent link: https://www.econbiz.de/10012098513
Cover Image
The Effectiveness of Monetary Policy Anchors : Firm-Level Evidence
Broz, J. Lawrence; Plouffe, Michael - 2013
Analysis of monetary policy posit that exchange-rate pegs, inflation targets, and central bank independence can help anchor private-sector inflation expectations. Yet there are few direct tests of this argument. We offer cross-national, micro-level evidence on the effectiveness of monetary...
Persistent link: https://www.econbiz.de/10014210695
Cover Image
'Midas, transmuting all, into paper' : the Bank of England and the Banque de France during the Napoleonic wars
Chadha, Jagjit; Newby, Elisa - 2013
This paper assesses Revolutionary and Napoleonic wartime economic policy. Suspension of gold convertibility in 1797 allowed the Bank of England to nurture British monetary orthodoxy. The Order of the Privy Council suspended gold payments on Bank of England notes and afforded simultaneous...
Persistent link: https://www.econbiz.de/10009787425
Cover Image
Oil Price Shocks and Monetary Policy in a Data-Rich Environment
Aastveit, Knut Are - 2013
This paper examines the impact of different types of oil price shocks on the U.S. economy, using a factor-augmented VAR (FAVAR) approach. The results indicate that when examining the effects of oil price shocks, it is important to account for the interaction between the oil market and the...
Persistent link: https://www.econbiz.de/10013081472
Cover Image
The Suspension of Cash Payments as a Monetary Regime
Newby, Elisa - 2007
By setting bounds on money growth, the commodity standard is a solution to the monetary authority's time inconsistency problem, which arises from the fixed wage structure of the economy. If there is a supply shock to the backing commodity, the suspension of the commodity standard may be...
Persistent link: https://www.econbiz.de/10012730978