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Chapter 24. Implementation of Monetary Policy : How Do Central Banks Set Interest Rates?
Friedman, Benjamin M.; Kuttner, Kenneth N. - In: Handbook of monetary economics : volume 3, (pp. 1345-1438). 2010
Central banks no longer set the short-term interest rates that they use for monetary policy purposes by manipulating the supply of banking system reserves, as in conventional economics textbooks; this process normally involves little or no variation in the supply of central bank liabilities. In...
Persistent link: https://www.econbiz.de/10014025618
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Spillover effects of unconventional monetary policy on capital markets in the shadow of the Eurozone: a sample of non-Eurozone countries
Mészáros, Mercédesz; Kiss, Gábor Dávid - In: Národohospodářský obzor : časopis věnovaný … 20 (2020) 2, pp. 171-195
determines the variables which are responsible for volatility: the activities of international financial institutions (like the …
Persistent link: https://www.econbiz.de/10012242342
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Interest rate and exchange rate volatility spillovers : multiscale perspective of monetary policy transmission in Ghana
Akosah, Nana Kwame; Alagidede, Paul; Schaling, Eric - In: Journal of central banking theory and practice 9 (2020) 1, pp. 135-167
Persistent link: https://www.econbiz.de/10012167220
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The impact of nominal negative interest rates on the economy : literature review
Kubiczek, Jakub - In: Journal of banking and financial economics 17 (2022) 1, pp. 5-16
Until recently, negative nominal interest rates of the central bank were in the sphere of theoretical considerations. In 2009, the Swedish Central Bank was the first to implement a negative interest rate policy (NIRP). Since then, the NIRP has been implemented by the National Bank of Denmark,...
Persistent link: https://www.econbiz.de/10013348194
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New macroeconomic consensus and inflation targeting : Monetary Policy Committee directors' turnover in Brazil
Dias, Maria Helena Ambrosio; Teixeira, Anderson Mutter; … - In: Economia : revista da ANPEC 14 (2013) 3/4, pp. 158-170
The main objective of this paper is to estimate a Central Bank reaction function that accounts for the effects of directors' rotation of the Brazilian COPOM (Monetary Policy Committee). The reaction function proposed is assumed to be the mechanism for inflation targeting policy. It accounts for...
Persistent link: https://www.econbiz.de/10011864874
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The instability of the market for government bonds in the EMU
Kleinert, Jörn - In: German economic review : GER 24 (2023) 2, pp. 207-231
Persistent link: https://www.econbiz.de/10014288283
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Understanding the natural rate of interest for a small open economy
Zarazúa Juárez, Carlos Alberto - In: Latin American journal of central banking : LAJCB 4 (2023) 3, pp. 1-25
In this paper, we develop a structural model to estimate the current level of the natural rate for a small open economy, featuring a rich set of shocks to provide economic intuition for its underlying drivers. The model follows the New Keynesian tradition with several frictions and is able to...
Persistent link: https://www.econbiz.de/10014382958
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Does central bank transparency deter the exchange rate volatility? : new evidence from Asian emerging markets
Shamsi, Muhammad Aftab; Mehmood, Ahsan - In: Journal of central banking theory and practice 12 (2023) 2, pp. 133-163
Exchange rate volatility has emerged as a significant chal-lenge for Asian emerging markets since the adoption of the … liberalization process. This study examines the influence of central banktransparency on exchange rate volatility using a sample of … has a stabilizing effect onexchange rate volatility, and this effect remains even after controlling for various internal …
Persistent link: https://www.econbiz.de/10014316656
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Do financial markets allow the independence of central banks?
Miró, Damià Rey; Piffaut, Pedro; Zurdo, Ricardo Palomo - In: Journal of central banking theory and practice 13 (2024) 1, pp. 5-26
The research work presented below addresses the possible concern of central bank independence through the development and application of econometric models. The complexity of the modelling has allowed a step further in corroborating that financial independence is not only linked to the...
Persistent link: https://www.econbiz.de/10014496228
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Can central banking policies make a difference in financial market performance in emerging economies? : the case of India
Sharma, Gagan Deep; Mahendru, Mandeep; Srivastava, Mrinalini - In: Economies : open access journal 7 (2019) 2/49, pp. 1-19
of returns and volatility in stock markets and currency markets in their tenures in comparison with those from other …
Persistent link: https://www.econbiz.de/10012021634