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The Mundellian trilemma and optimal monetary policy in a world of high capital mobility
Froyen, Richard T; Guender, Alfred - 2021
bank to effectively stabilize domestic output and inflation in the presence of policy changes abroad and potentially …
Persistent link: https://www.econbiz.de/10013218373
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Selected Issues Concerning Monetary Policy and Institutional Design for Central Banks A Review of Theories
Beddies, Christian - 2021
In the past decades, much work has been geared toward solving the problem of time inconsistency in monetary policy and analyzing the coordination problem between fiscal and monetary policy. This paper provides a review of the theoretical background to these theories, while also focusing on their...
Persistent link: https://www.econbiz.de/10013317854
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Financial Openness and Inflation : Recent Evidence
Guender, Alfred V.; McHugh-Smith, Hamish - 2023
should be inversely related to the rate of inflation. Our empirical analysis reveals a strong and robust inverse link between … financial openness and CPI inflation in over 100 countries over the 1997-2016 period, adding weight to the argument that … inflation in financially open economies is indeed lower. This result obtains for OECD countries as well as non-OECD countries …
Persistent link: https://www.econbiz.de/10014258191
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Markups and the real effects of volatility shocks
Seoane, Hernán D. - In: International economic review 58 (2017) 3, pp. 807-828
Persistent link: https://www.econbiz.de/10011860307
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Self-Oriented Monetary Policy, Global Financial Markets and Excess Volatility of International Capital Flows
Banerjee, Ryan - 2016
monetary policy shocks on a sample group of EMEs. A contractionary monetary shock leads a retrenchment in EME capital flows, a … are minor, and an inflation targeting rule represents an effective policy for the EME. With frictions in financial … intermediation, however, spillovers are substantially magnified, and an inflation targeting rule has little advantage over an …
Persistent link: https://www.econbiz.de/10013000728
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Verdict on the Crash : Causes and Policy Implications
Booth, Philip - 2009
This monograph challenges the myth that the recent banking crisis was caused by insufficient statutory regulation of financial markets. Though it finds that statutory regulation failed, and that market participants took more risks than they should have done, it appears that statutory regulation...
Persistent link: https://www.econbiz.de/10013156184
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The Case for Central Bank Independence : A Review of Key Issues in the International Debate
Vonessen, Benjamin; Arnold, Katrin; Mas, Rodolfo Dall’Orto - 2021
This Occasional Paper analyses how significant expansions in central banks’ mandates, roles and instruments can result in challenges to the independence of monetary policy. The paper reviews, in particular, some of the key challenges to central bank independence brought about by the global...
Persistent link: https://www.econbiz.de/10013315253
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The case for central bank independence : a review of key issues in the international debate
Dall’Orto Mas, Rodolfo; Vonessen, Benjamin; Fehlker, … - 2020
This Occasional Paper analyses how significant expansions in central banks' mandates, roles and instruments can result in challenges to the independence of monetary policy. The paper reviews, in particular, some of the key challenges to central bank independence brought about by the global...
Persistent link: https://www.econbiz.de/10012298570
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Good Booms, Bad Booms
Gorton, Gary B. - 2020
Credit Booms are not rare; some end in a crisis (bad booms) while others do not (good booms). We document that credit booms start with an increase in productivity growth, which subsequently falls faster during bad booms. We develop a model in which crises happen when credit booms change to an...
Persistent link: https://www.econbiz.de/10012856775
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Macroeconomics and the Law
Listokin, Yair; Murphy, Daniel - 2020
, unemployment, inflation, and productivity growth. We provide a brief overview of macroeconomics and discuss how legal interventions …
Persistent link: https://www.econbiz.de/10014103520