Similar Search Results

Demand for M2 at the Zero Lower Bound : The Recent U.S. Experience

Judson, Ruth - 2014

bound. Standard money-demand theory indicates that in such cases the interest elasticity of money demand should rise sharply …

Persistent link: https://www.econbiz.de/10013056165

Yield curve dynamics and fiscal policy shocks

Kučera, Adam; Kočenda, Evžen; Maršál, Aleš - 2022

We show that government spending does play a role in shaping the yield curve which has important consequences for the cost of private and government financing. We combine government spending shock identification strategies from the fiscal macro literature with recent advancements in no-arbitrage...

Persistent link: https://www.econbiz.de/10012887223

U.S. Monetary Policy Normalization and Global Interest Rates

Caceres, Carlos - 2016

As the Federal Reserve continues to normalize its monetary policy, this paper studies the impact of U.S. interest rates on rates in other countries. We find a modest but nontrivial pass-through from U.S. to domestic short-term interest rates on average. We show that, to a large extent, this...

Persistent link: https://www.econbiz.de/10012977769

A shadow rate or a quadratic policy rule? : the best way to enforce the zero lower bound in the United States

Andreasen, Martin Møller; Meldrum, Andrew - 2018

We study whether it is better to enforce the zero lower bound (ZLB) in models of U.S. Treasury yields using a shadow rate model or a quadratic term structure model. We show that the models achieve a similar in-sample fit and perform comparably in matching conditional expectations of future...

Persistent link: https://www.econbiz.de/10012016103

Indicator accuracy and monetary policy : is ignorance bliss?

Nimark, Kristoffer P. - 2003

This paper argues that assuming a common information set shared by the public and the central bank may be inappropriate when one is concerned with the value of information itself. Specifically, we argue that it may lead one to draw the conclusion that monetary policy do not benefit from accurate...

Persistent link: https://www.econbiz.de/10011583880

Is there room for bulls, bears, and states in the circuit?

Wray, L. Randall - 2011

John Maynard Keynes's liquidity preference theory, Kregel argued that such rejection leaves the relation between money and … capital asset prices, and thus investment theory, hanging. This paper extends Kregel's analysis to an examination of the role … requires an extension of the circuit theory of money, along the lines of the credit and state money approaches of modern …

Persistent link: https://www.econbiz.de/10009523597

Monetary policy analysis with potentially misspecified models

Del Negro, Marco; Schorfheide, Frank - In: The American economic review 99 (2009) 4, pp. 1415-1450

Persistent link: https://www.econbiz.de/10003896762

Monetary Magic? How the Fed Improved the Flexibility of the U.S. Economy

Bayoumi, Tamim - 2006

Extending recent theoretical contributions on sources of inflation inertia, we argue that monetary uncertainty accounts for sluggish expectations adjustment to nominal disturbances. Estimating a model in which rational individuals learn over time about shifts in U.S. monetary policy and the...

Persistent link: https://www.econbiz.de/10012783235

Some variables are more worthy than others : new diffusion index evidence on the monitoring of key economic indicators

Armah, Nii Ayi; Swanson, Norman R. - 2011

Central banks regularly monitor select financial and macroeconomic variables in order to obtain early indication of the impact of monetary policies. This practice is discussed on the Federal Reserve Bank of New York website, for example, where one particular set of macroeconomic "indicators" is...

Persistent link: https://www.econbiz.de/10009130538

Narrative sign restrictions for SVARs

Antolín-Díaz, Juan; Rubio-Ramírez, Juan Francisco - 2016

We identify structural vector autoregressions using narrative sign restrictions. Narrative sign restrictions constrain the structural shocks and the historical decomposition around key historical events, ensuring that they agree with the established narrative account of these episodes. Using...

Persistent link: https://www.econbiz.de/10011570683

1
2
3
4
5
6
7
8
9
10
Next
Last