Refet Gürkaynak, Brian Sack, and Eric Swanson (2005) provide empirical evidence that long forward nominal rates are overly sensitive to monetary policy shocks, and that this is consistent with a model where long-term inflation expectations are not anchored because agents must infer the central...

Nach Ansicht von Josef Braml und Claudia Schmucker, Deutsche Gesellschaft für Auswärtige Politik, Berlin, sollte angesichts der abzusehenden Blockade der politischen Gewalten in den USA mehr Augenmerk auf die Gestaltungsmacht der US-Notenbank gerichtet werden: Die Federal Reserve versuche...

"This paper shows that the theory of monetary policy rules is able to explain, predict, and help understand a variety of phenomenon in macroeconomics and finance, including the Great Moderation, the correlation between exchange rates and interest rates, and the shift in the response of the term...