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Presented by Charles I. Plosser, President and Chief Executive Officer, Federal Reserve Bank of Philadelphia, World Affairs Council of Philadelphia, February 17, 2010
Persistent link: https://www.econbiz.de/10010727152
Presented by Charles I. Plosser, President and Chief Executive Officer, Federal Reserve Bank of Philadelphia, World Affairs Council of Philadelphia, February 17, 2010
Persistent link: https://www.econbiz.de/10008489274
"Monetary policy acts with a lag. I liken it to a good single malt whiskey or perhaps truly great tequila: It takes time before you feel its full effect. The Fed has to be very careful now to add just the right amount of stimulus to the punchbowl without mixing in the potential to juice up...
Persistent link: https://www.econbiz.de/10008616923
run on the currency if the central bank attempts to act as a lender of last resort. …
Persistent link: https://www.econbiz.de/10010397417
A country's financial system is internationally illiquid if its potential short-term obligations in foreign currency exceed the amount of foreign currency it can have access to in short notice. This condition may be necessary and sufficient for financial crises and/or exchange rate collapses...
Persistent link: https://www.econbiz.de/10010397536
This article first reviews methods of foreign exchange intervention and then presents evidence - focusing on survey results - on the mechanics of such intervention. Types of intervention, instruments, timing, amounts, motivation, secrecy and perceptions of efficacy are discussed.
Persistent link: https://www.econbiz.de/10005360565
A traditional function of the central bank is to control the price level. The fiscal theory of the price level …
Persistent link: https://www.econbiz.de/10005360714
Persistent link: https://www.econbiz.de/10005361358
the central banks, or their equivalent, in six of the main East Asian developing economies. Some of these economies have … issued by the national government--not the central bank--be developed for the central bank's use in its monetary policy …
Persistent link: https://www.econbiz.de/10005368502
Central banks around the world potentially face a skeptical public when they announce a commitment to controlling … inflation. Some economists have argued that, to enhance credibility, central banks should adopt monetary growth rules or other …
Persistent link: https://www.econbiz.de/10005373372