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Facts, Factors, and Questions
Diebold, Francis X.; Rudebusch, Glenn D. - Princeton University Press
Understanding the dynamic evolution of the yield curve is critical to many financial tasks, including pricing financial assets and their derivatives, managing financial risk, allocating portfolios, structuring fiscal debt, conducting monetary policy, and valuing capital goods. Unfortunately,...
Persistent link: https://www.econbiz.de/10011241751
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Yield Curve Modeling and Forecasting: The Dynamic Nelson-Siegel Approach
Diebold, Francis X.; Rudebusch, Glenn D. - Princeton University Press
Understanding the dynamic evolution of the yield curve is critical to many financial tasks, including pricing financial assets and their derivatives, managing financial risk, allocating portfolios, structuring fiscal debt, conducting monetary policy, and valuing capital goods. Unfortunately,...
Persistent link: https://www.econbiz.de/10011241753
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Bank Leverage and Monetary Policy's Risk-Taking Channel; Evidence from the United States
Dell'Ariccia, Giovanni; Laeven, Luc; Suarez, Gustavo - International Monetary Fund (IMF) - 2013
We present evidence of a risk-taking channel of monetary policy for the U.S. banking system. We use confidential data on the internal ratings of U.S. banks on loans to businesses over the period 1997 to 2011 from the Federal Reserve’s survey of terms of business lending. We find that ex-ante...
Persistent link: https://www.econbiz.de/10011242177
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Frontiers of Monetary Policymaking: Adding the Exchange Rate as a Tool to Combat Deflationary Risks in the Czech Republic
Alichi, Ali; Benes, Jaromir; Felman, Joshua; Feng, Irene; … - International Monetary Fund (IMF) - 2015
frontiers of Inflation-Forecast Targeting. It then focuses on the CNB’s recent experience in adding the exchange rate as a … announcing the new framework, and the effects thus far on inflation and output. …
Persistent link: https://www.econbiz.de/10011242190
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Asset Bubbles: Re-thinking Policy for the Age of Asset Management
Jones, Bradley - International Monetary Fund (IMF) - 2015
In distilling a vast literature spanning the rational— irrational divide, this paper offers reflections on why asset bubbles continue to threaten economic stability despite financial markets becoming more informationally-efficient, more complete, and more heavily influenced by...
Persistent link: https://www.econbiz.de/10011242204
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Asia’s Quest for Inclusive Growth Revisited
Aoyagi, Chie; Ganelli, Giovanni - International Monetary Fund (IMF) - 2015
, reduce unemployment and increase productivity are important determinants of inclusive growth. The main policy implication of …
Persistent link: https://www.econbiz.de/10011242240
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Peru; Monetary and Exchange Rate Policies, 1930-1980
Pastor, Gonzalo C. - International Monetary Fund (IMF) - 2012
This paper reviews monetary and exchange rate policies in Peru in 1930-80. The review covers major transformations to the world economy, including the post-1929 crash and WWII, and changing economic paradigms, such as the collapse of the gold standard and the rise and fall of the Bretton Woods...
Persistent link: https://www.econbiz.de/10011242258
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Measuring and Mending Monetary Policy Effectiveness Under Capital Account Restrictions; Lessons from Mauritania
Blotevogel, Robert - International Monetary Fund (IMF) - 2013
I propose a new approach to identifying exogenous monetary policy shocks in low-income countries with capital account restrictions. In the case of Mauritania, a domestic repatriation requirement is the key institutional characteristic that allows me to establish exogeneity. Unlike in advanced...
Persistent link: https://www.econbiz.de/10011242267
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Inflation Targeting and Country Risk; An Empirical Investigation
Fouejieu, Armand; Roger, Scott - International Monetary Fund (IMF) - 2013
of inflation targeting (IT) affects spreads. It is hypothesized that country risk premia for IT countries (especially … stable long-term inflation. The findings suggest that IT reduces the risk premium, both through adoption of the IT regime …, and through the observed track record in stabilizing inflation. …
Persistent link: https://www.econbiz.de/10011242286
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How Inclusive Is Abenomics?
Aoyagi, Chie; Ganelli, Giovanni; Murayama, Kentaro - International Monetary Fund (IMF) - 2015
and policy variables. Our analysis suggests that achieving the Bank of Japan’s 2 percent inflation target has a positive …
Persistent link: https://www.econbiz.de/10011242353