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Monetary policy after the crisis : a joint publication with the National Bank of Poland
Gnan, Ernest (ed.); Kokoszcynski, Ryszard (ed.);  … - Conference Monetary Policy after the Crisis <2011, Warschau>; … - 2011
On 4 March 2011, SUERF – The European Money and Finance Forum and the National Bank of Poland jointly organised a conference on the theme of: "Monetary Policy after the Crisis". Following a call for papers with a large number of submissions, the scientific committee selected 9 papers, which...
Persistent link: https://www.econbiz.de/10011710723
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Assessing the Effects of a Policy Rate Shock on Market Interest Rates : Interest Rate Pass-Through with a FAVAR Model - The Case of Turkey for the Inflation-Targeting Period
Varlik, Serdar - 2018
The purpose of this paper is to investigate the effectiveness of the central bank's policy rate on market interest rates in Turkey for the inflation-targeting period. Empirical evidence suggests that (i) all interest rates respond to a positive policy rate shock positively for all periods and...
Persistent link: https://www.econbiz.de/10012915255
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Monetary Policy Surprises and their Transmission Through Term Premia and Expected Interest Rates
Kaminska, Iryna; Mumtaz, Haroon; Sustek, Roman - 2021
macroeconomic consequences? Applying an affine term structure model to high-frequency yield curve movements around FOMC …
Persistent link: https://www.econbiz.de/10013243014
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Monetary policy surprises and their transmission through term premia and expected interest rates
Kaminska, Iryna; Mumtaz, Haroon; Šustek, Roman - 2020
yield curve decomposition around FOMC announcements into term premia and expected interest rates then provides instruments …
Persistent link: https://www.econbiz.de/10012316011
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Monetary Policy Transmission During QE Times : Role of Expectations and Term Premia Channels
Kaminska, Iryna; Mumtaz, Haroon - 2022
This paper studies monetary policy transmission mechanisms during QE. Using high frequency yield curve event studies of monetary policy announcements in combination with a dynamic term structure model, we can identify four types of monetary policy surprises: action, signalling (working through...
Persistent link: https://www.econbiz.de/10013405689
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A reassessment of monetary policy surprises and high-frequency identification
Bauer, Michael D.; Swanson, Eric T. - 2022
High-frequency changes in interest rates around FOMC announcements are an important tool for identifying the effects of … available prior to the FOMC announcement. We address these concerns in two ways: First, we expand the set of monetary policy …
Persistent link: https://www.econbiz.de/10013166391
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A reassessment of monetary policy surprises and high-frequency identification
Bauer, Michael D.; Swanson, Eric T. - 2022 - Conference draft
High-frequency changes in interest rates around FOMC announcements are an important tool for identifying the effects of … available prior to the FOMC announcement. We address these concerns in two ways: First, we expand the set of monetary policy …
Persistent link: https://www.econbiz.de/10013165885
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Permanent and Transitory Policy Shocks in an Empirical Macro Model with Asymmetric Information
Kozicki, Sharon; Tinsley, Peter A. - 2004
Despite a large literature documenting that the efficacy of monetary policy depends on how inflation expectations are anchored, many monetary policy models assume: (1) the inflation target of monetary policy is constant; and, (2) the inflation target is known by all economic agents. This paper...
Persistent link: https://www.econbiz.de/10014074174
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The Role of Expectations in Economic Fluctuations and the Efficacy of Monetary Policy
Kurz, Mordecai; Jin, Hehui; Motolese, Maurizio - 2003
We show diverse beliefs is an important propagation mechanism of fluctuations, money non neutrality and efficacy of … structure of market beliefs about future discretionary decisions. We study two rationalizable beliefs. In one case, market … beliefs weaken the effect of policy and in the second, beliefs bolster policy outcomes and discretion could be a desirable …
Persistent link: https://www.econbiz.de/10014029667
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New Paradigms in Monetary Theory and Policy?
Balling, Morten; Llewellyn, David T.; Orphanides, Athanasios - 2012
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/10011689952