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Gáti, Laura; Handlan, Amy - 2022

talk about the economy? We propose a simple framework that allows us to estimate communication rules in the United States … based on text analysis with regularized regressions. We find strong evidence for systematic communication rules that vary …’s communication rule and use it to investigate how much of the disagreement between the market and the Fed come from disagreement …

Persistent link: https://www.econbiz.de/10014264958

Determinacy in new Keynesian models : a role for money after all?

Minford, Patrick; Srinivasan, Naveen - 2009

The New-Keynesian Taylor-Rule model of inflation determination with no role for money is incomplete. As Cochrane (2007a) argues, it has no credible mechanism for ruling out bubbles and as a result fails to provide a reason for private agents to pick a unique stable path. We propose a way...

Persistent link: https://www.econbiz.de/10003898757

Thinking about monetary policy without money : a review of three books ; Inflation targeting, Mmonetary theory and policy, and Interest and prices

Carlstrom, Charles T. (contributor); … - 2004 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10002550187

Monetary policy rules from Fisher to Svensson, Taylor, and Woodford

Adema, Yvonne; Sterken, Elmer - 2005

Persistent link: https://www.econbiz.de/10003230756

Reassessing the thesis of the monetary history

Laidler, David E. W. - 2013

The economic crisis that began in 2007 and still lingers has invited comparison with the Great Depression of the 1930s. It has also generated renewed interest in Milton Friedman and Anna Schwartz's explanation of the latter as mainly the consequence of the Fed's failure as a lender of last...

Persistent link: https://www.econbiz.de/10010191681

Money Creation : Misconceptions: Quantitative Easing Creates Money

Faure, Alexander Pierre - 2013

There is a profound misconception amongst certain commentators on money and banking: that quantitative easing creates new money. The misconception is either: (1) that new money is injected into the economy; (2) newly created excess reserves can be used by the banks to make new loans. Neither of...

Persistent link: https://www.econbiz.de/10013083027

Determining the optimal monetary policy instrument for Nigeria

Udom, Solomon I.; Yaaba, Baba N. - In: CBN journal of applied statistics 6 (2015) 1, pp. 29-47

It is considered inapt for central banks to adjust reserve money (quantity of money) and interest rate (price of money) at the same time. Thus, necessitates the need for a choice instrument. Enough evidence abounds in microeconomic theory on the undesirability of manipulating both price and...

Persistent link: https://www.econbiz.de/10011473693

Optimal Nonlinear Policy : Signal Extraction With a Non-Normal Prior

Swanson, Eric T. - 2007

The literature on optimal monetary policy typically makes three major assumptions: (1) policymakers' preferences are quadratic, (2) the economy is linear, and (3) stochastic shocks and policymakers' prior beliefs about unobserved variables are normally distributed. This paper relaxes the third...

Persistent link: https://www.econbiz.de/10014059212

Tight Money Policies and Inflation Revisited

Bhattacharya, Joydeep; Kudoh, Noritaka - 2002

This paper reconsiders the link between tight money policies and inflation in the spirit of Sargent and Wallace's (1981) influential paper "Some Unpleasant Monetarist Arithmetic". A standard neoclassical model with production, capital, bonds, and return-dominated currency is used to study the...

Persistent link: https://www.econbiz.de/10014126294

Is the Friedman Rule optimal when money is an intermediate good?

Correia, Isabel Horta - 1996

Persistent link: https://www.econbiz.de/10013422201

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