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Optimal Retirement Age and Lower Bound on Interest Rate
Bhattacharyya, Nalinaksha - 2022
For a long time now, the monetary policy in the US and other industrialized countries has been a regime of cheap money with the interest rate often being negative. A low interest rate in the framework of the Keynesian monetary policy stimulates demand but is hard on the retirees who are mostly...
Persistent link: https://www.econbiz.de/10013491596
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Revisiting the Decline in the Exchange Rate Pass-Through : Further Evidence from Developing Countries
Karim, Barhoumi - 2010
The main purpose of the paper is to contribute to the empirical works relating to exchange rate pass-through. Indeed, we revisit the Taylor (2000) proposition for some developing countries in order to examine the decline in their pass-through coefficients, and to find possible explanations for...
Persistent link: https://www.econbiz.de/10013138004
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The Zero Lower Bound, ECB Interest Rate Policy and the Financial Crisis
Gerlach, Stefan - 2011
This paper estimates a monetary policy reaction function for the ECB over the period 1999-2009. To allow for a potential shift in interest rate setting during the financial crisis, we permit a smooth transition from one set of parameters to another. The estimates show a swift change in the...
Persistent link: https://www.econbiz.de/10013119261
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Effects of Financial Policies on Foreign Currencies Exchange Rates in Sudan (1989-2010)
Mohamed, Issam A.W. - 2012
The present paper aims to analyze impacts of financial policy on the foreign currencies exchange rates. The study utilizes time series data analyses in order to reach better econometric model that may reflect the relationship between financial policy and foreign exchange rates in Sudan between...
Persistent link: https://www.econbiz.de/10013107990
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Does Monetary Policy Respond to Uncertainty? Evidence from Australia
Ponomareva, Natalia - 2019
We construct a novel measure of uncertainty using expert monetary policy recommendation data for Australia. Our results suggest that the Reserve Bank of Australia (RBA) tends to lower the cash rate when expert uncertainty is high. This result is robust to using other uncertainty measures
Persistent link: https://www.econbiz.de/10012889328
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Taylor Rules with Real-Time Data : A Tale of Two Countries and One Exchange Rate
Molodtsova, Tanya - 2019
.S. using inflation forecasts are nearly identical to those using lagged inflation rates. Evidence of out …-of-sample predictability for the dollar/mark nominal exchange rate with forecasts based on Taylor rule fundamentals is only found with real …-time data and does not increase if inflation forecasts are used …
Persistent link: https://www.econbiz.de/10012893393
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Network structure and fragmentation of the Argentinean interbank markets
Elosegui, Pedro; Forte, Federico D.; Montes-Rojas, Gabriel - 2021
This paper studies the network structure and fragmentation of the Argentine interbank market. Both the unsecured (CALL) and the secured (REPO) markets are examined. The aim of this study is to understand their actual fragmentation, as well as its potential implications for monetary policy and...
Persistent link: https://www.econbiz.de/10012802027
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The Effect of Macroeconomic Announcements on Credit Markets : An Autometric General-to-Specific Analysis of the Greenspan Era
Forest, James J. - 2018
I show that a congruent, parsimonious, encompassing model discovered using David Hendry's econometric modelling approach and Autometrics can overcome the many inadequacies of the typical static models of US Treasury returns regressed on macroeconomic announcements. The typical specification...
Persistent link: https://www.econbiz.de/10012928522
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The channels of banks’ response to negative interest rates
Boungou, Whelsy; Hubert, Paul - 2021
Faced with a potential zero lower bound on deposit interest rates, how do banks pass onthe fall in net interest income due to negative interest rates? This paper aims to investigatethe different channels of banks’ responses to negative interest rates using a detailedbreakdown of the profit and...
Persistent link: https://www.econbiz.de/10013224620
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Macroeconomic Effects of Monetary and Fiscal Policy Interactions on Economic Growth Dynamics in Nigeria
Salis, Kolawole; Saibu, Olufemi - 2021
Over the years, the Nigerian economy has been faced with continuous disequilibrium and complexity in policy direction that constitutes a major setback in the growth pattern and macroeconomic instability. In this regard, the paper investigated the effectiveness of fiscal-monetary policy...
Persistent link: https://www.econbiz.de/10013314576