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Expectations, credibility, and disinflation in a small macroeconomic model
Huh, Chan G.; Lansing, Kevin J. - Federal Reserve Bank of San Francisco - 1998
We use a version of the Fuhrer-Moore model to study the effects of expectations and central bank credibility on the … model that vary according to the way that expectations are formed (rations versus adaptive) and the degree of central bank … central bank may face diminishing returns in its efforts to enhance credibility. …
Persistent link: https://www.econbiz.de/10010702305
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Opportunistic and deliberate disinflation under imperfect credibility
Bomfim, Antulio N.; Rudebusch, Glenn D. - Federal Reserve Bank of San Francisco - 1997
credibility of the central bank can be considered in assessing the cost of deliberate and opportunistic disinflation. …
Persistent link: https://www.econbiz.de/10010702307
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Should central banks raise their inflation targets? Some relevant issues
McCallum, Bennett T. - In: Economic Quarterly (2011) 2Q, pp. 111-131
target inflation would undermine the rationale for central bank independence and constitute an additional movement away from …
Persistent link: https://www.econbiz.de/10010722876
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Improving survey measures of inflation expectations
Potter, Simon M. - Federal Reserve Bank of New York - 2011
Remarks at Forecasters Club of New York, New York City.>
Persistent link: https://www.econbiz.de/10010725046
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Central bank commitment and communication: a speech at the Princeton University Center for Economic Policy Studies Dinner, New York, New York, April 3, 2008
Mishkin, Frederic S. - Federal Reserve Board (Board of Governors of the … - 2008
Persistent link: https://www.econbiz.de/10010725206
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Demographics, redistribution, and optimal inflation
Bullard, James; Garriga, Carlos; Waller, Christopher J. - Federal Reserve Bank of St. Louis - 2012
May 30, 2012. "Demographics, Redistribution, and Optimal Inflation," with Carlos Garriga and Christopher J. Waller. Presented by Christopher Waller at the 2012 BOJ-IMES Conference Demographic Changes and Macroeconomic Performance.
Persistent link: https://www.econbiz.de/10010727313
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Nonlinear relationship between permanent and transitory components of monetary aggregates and the economy
Anderson, Richard G.; Jones, Barry; Chauvet, Marcelle - Federal Reserve Bank of St. Louis - 2013
This paper uses several methods to study the interrelationship among Divisia monetary aggregates, prices, and income, allowing for nonstationary, nonlinearities, asymmetries, and time-varying relationships among the series. We propose a multivariate regime switching unobserved components model...
Persistent link: https://www.econbiz.de/10010662820
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Debt, inflation and central bank independence
Martin, Fernando M. - Federal Reserve Bank of St. Louis - 2013
Making the central bank more independent from political pressures lowers inflation and increases the primary deficit … financial burden of accumulated public debt. Endowing instead the central bank with an explicit inflation target lowers long …
Persistent link: https://www.econbiz.de/10010662821
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Demographics, redistribution, and optimal inflation
Bullard, James; Garriga, Carlos; Waller, Christopher J. - In: Speech (2012) May 30
May 30, 2012. "Demographics, Redistribution, and Optimal Inflation," with Carlos Garriga and Christopher J. Waller. Presented by Christopher Waller at the 2012 BOJ-IMES Conference Demographic Changes and Macroeconomic Performance.
Persistent link: https://www.econbiz.de/10010552103
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How forward-looking is optimal monetary policy?
Giannoni, Marc Paolo; Woodford, Michael - In: Proceedings (2003), pp. 1425-1483
increase, in a way that is characteristic of estimated central bank reaction functions, but not of Taylor's proposal. …
Persistent link: https://www.econbiz.de/10005526158