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Tambakis, Demosthenes N. - In: Economics Letters 122 (2014) 2, pp. 176-181

I determine expected long-run inflation in a two-state New Keynesian model driven by natural interest-rate uncertainty … inflation ranges from −1.8% to +1.2% p.a. …

Persistent link: https://www.econbiz.de/10011041796

Does monetary policy determine stock market liquidity? New evidence from the euro zone

Fernández-Amador, Octavio; Gächter, Martin; Larch, Martin - In: Journal of Empirical Finance 21 (2013) C, pp. 54-68

The recent financial crisis has been characterized by unprecedented monetary policy interventions of central banks with the intention to stabilize financial markets and the real economy. This paper sheds light on the actual impact of monetary policy on stock liquidity and thereby addresses its...

Persistent link: https://www.econbiz.de/10011042121

Assessing the macroeconomic effects of inflation targeting: Evidence from OECD Economies

BEN ROMDHANE, Ikram; MENSI, Sami - Volkswirtschaftliche Fakultät, … - 2014

With the numerous monetary policy reforms undertaken during the 1990s, inflation targeting emerged as one of the … proven by the recent literature. Empirically, the purpose of this study is to assess the impact of inflation targeting on … inflation and output based on a panel of 30 OECD countries over the period 1980_2012, using the “differences-in- differences …

Persistent link: https://www.econbiz.de/10011108451

Monetary Policies and Nigerian Economy:Simulations from Dynamic Stochastic General Equilibrium(DSGE)Model

Nwaobi, Godwin - Volkswirtschaftliche Fakultät, … - 2012

Traditionally, the task of monetary management is usually performed by the monetary authority on behalf of government. However, a key challenge in monetary management is how to deal with uncertainty. Thus, the relevant policy questions must include how best the available instruments of monetary...

Persistent link: https://www.econbiz.de/10011108535

Monetary Policy Experience of Pakistan

Hanif, Muhammad Nadim - Volkswirtschaftliche Fakultät, … - 2014

/or availability of money and credit in the country to achieve (government announced) inflation target without being prejudice to real … had been used as an operational target. After weakening of broad money growth and inflation relation (as a result of … price, and expected (higher) inflation play an significant role in generating inflation while real income growth, and …

Persistent link: https://www.econbiz.de/10011108538

Was there a "Greenspan conundrum" in the Euro area ?

Lamé, Gildas - Volkswirtschaftliche Fakultät, … - 2013

This paper implements an affine term structure model that accommodates "unspanned" macro risks for the Euro area, i.e. distinct from yield-curve risks. I use a Near-Cointegrated VAR-like approach to obtain a better estimation of the historical dynamics of the pricing factors, thus providing more...

Persistent link: https://www.econbiz.de/10011108613

Respuesta del retorno accionario a la politica monetaria: Evidencia para el mercado chileno

Acuña, Andres A.; Pinto, Cristian F. - Volkswirtschaftliche Fakultät, … - 2012

This paper analyzes the response of the stock market returns to monetary policy decisions by the Central Bank of Chile. It adopts the event-study methodology in order to gauge the influence of anticipated and unanticipated changes in the Chilean monetary policy interest rate (TPM), decided in...

Persistent link: https://www.econbiz.de/10011108637

Zero lower bound, unconventional monetary policy and indicator properties of interest rate spreads

Hännikäinen, Jari - Volkswirtschaftliche Fakultät, … - 2014

This paper re-examines the out-of-sample predictive power of interest rate spreads when the short-term nominal rates have been stuck at the zero lower bound and the Fed has used unconventional monetary policy. Our results suggest that the predictive power of some interest rate spreads have...

Persistent link: https://www.econbiz.de/10011108827

Estimating a monetary policy rule for India

Hutchison, Michael; Sengupta, Rajeswari; Singh, Nirvikar - Volkswirtschaftliche Fakultät, … - 2010

. Overall, it finds that the output gap seems to matter more to RBI than inflation, there is greater sensitivity to consumer … price inflation, exchange rate changes do not constitute an important policy factor, and the post-1998 conduct of monetary …

Persistent link: https://www.econbiz.de/10011109028

Does one word fit all? The asymmetric effects of central banks' communication policy

Bennani, Hamza - Volkswirtschaftliche Fakultät, … - 2014

This paper provides an extension of Morris and Shin's (2002) model (Morris, S., Shin, H. S. (2002). Social value of public information. The American Economic Review, 92(5), 1521-1534.). It considers an "interpretation bias" of the public signal sent by central banks such as the ECB or the FED....

Persistent link: https://www.econbiz.de/10011109133