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On the Sources and Consequences of Oil Price Shocks; The Role of Storage

Unalmis, Deren; Unalmis, Ibrahim; Unsal, D. Filiz - International Monetary Fund (IMF) - 2012

Building on recent work on the role of speculation and inventories in oil markets, we embed a competitive oil storage model within a DSGE model of the U.S. economy. This enables us to formally analyze the impact of a (speculative) storage demand shock and to assess how the effects of various...

Persistent link: https://www.econbiz.de/10011242253

Monetary Policy and Balance Sheets

Igan, Deniz; Kabundi, Alain N.; Simone, Francisco Nadal-De - International Monetary Fund (IMF) - 2013

This paper evaluates the strength of the balance sheet channel in the U.S. monetary policy transmission mechanism over the past three decades. Using a Factor-Augmented Vector Autoregression model on an expanded data set, including sectoral balance sheet variables, we show that the balance sheets...

Persistent link: https://www.econbiz.de/10010790431

Shock from Graying; Is the Demographic Shift Weakening Monetary Policy Effectiveness

Imam, Patrick A. - International Monetary Fund (IMF) - 2013

impact on the economy—given better anchored inflation expectations and inflation being less responsive to variation in … Germany to confirm a weakening of monetary policy effectiveness over time with regards to unemployment and inflation. After …

Persistent link: https://www.econbiz.de/10011242214

The Great Recession and the Inflation Puzzle

Matheson, Troy; Stavrev, Emil - International Monetary Fund (IMF) - 2013

Notwithstanding persistently-high unemployment following the Great Recession, inflation in the United States has been … remarkably stable. We find that a traditional Phillips curve describes the behavior of inflation reasonably well since the 1960s … observed stability of inflation: inflation expectations have become better anchored and to a lower level; the slope of the …

Persistent link: https://www.econbiz.de/10010790401

The Dynamics of the Term Structure of Interest Rates in the United States in Light of the Financial Crisis of 2007-2010

Waldo, Marco Rodriguez; Medeiros, Carlos I. - International Monetary Fund (IMF) - 2011

This paper assesses the dynamics of the term structure of interest rates in the United States in light of the financial crisis in 2007-10. In particular, this paper assesses the dynamics of the term structure of U.S. Treasury security yields in light of economic and financial events and the...

Persistent link: https://www.econbiz.de/10009019574

"Unconventional" monetary policy as conventional monetary policy : a perspective from the United States in the 1920s

Carlson, Mark; Duygan-Bump, Burcu - In: International journal of central banking : IJCB 17 (2021) 2, pp. 207-253

Persistent link: https://www.econbiz.de/10013197762

Monetary Policy and Bank Risk-Taking

Dell'Ariccia, Giovanni - International Monetary Fund (IMF) - 2010

This paper contributes to the current debate on what role financial stability considerations should play in monetary policy decision and how best to integrate macro-prudential and monetary policy frameworks. The paper broadly supports the view that monetary policy easing induces greater...

Persistent link: https://www.econbiz.de/10011123889