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Some fresh perspectives on price-support policies

Miller, Preston - Federal Reserve Bank of Minneapolis - 2000

Trade protection remains a prominent feature of the current world economy and likely has significant effects on industries and macroeconomies. In this paper a particular type of policy, price supports, is analyzed in a two-country, dynamic, general equilibrium model. This model brings new...

Persistent link: https://www.econbiz.de/10005367619

Monthly pass-through ratios

Amstad, Marlene; Fischer, Andreas M. - Federal Reserve Bank of Dallas - 2009

This paper estimates monthly pass-through ratios from import prices to consumer prices in real time. Conventional time … series methods impose restrictions to generate exogenous shocks on exchange rates or import prices when estimating pass …-through coefficients. Instead, a natural experiment based on data releases defines our shock to foreign prices. Our estimation strategy …

Persistent link: https://www.econbiz.de/10005367960

Optimal monetary policy with distinct core and headline inflation rates

Bodenstein, Martin; Erceg, Christopher J.; Guerrieri, Luca - Federal Reserve Board (Board of Governors of the … - 2008

In a stylized DSGE model with an energy sector, the optimal policy response to an adverse energy supply shock implies a rise in core inflation, a larger rise in headline inflation, and a decline in wage inflation. The optimal policy is well-approximated by policies that stabilize the output gap,...

Persistent link: https://www.econbiz.de/10005368420

Exact utilities under alternative monetary rules in a simple macro model with optimizing agents

Henderson, Dale W.; Kim, Jinill - Federal Reserve Board (Board of Governors of the … - 1999

utility calculations. There is a stabilization problem because there are one-period nominal contracts for wages, or prices, or …

Persistent link: https://www.econbiz.de/10005368489

Predicting the effects of Federal Reserve policy in a sticky price model: an analytical approach

McGrattan, Ellen - In: Proceedings (2001) Jun

In this paper, I characterize equilibria for a sticky-price model in which Federal Reserve policy is an interest-rate rule similar to that described in Taylor (1993). For standard preferences and technologies used in the literature, the model predicts that the nominal interest rate is negatively...

Persistent link: https://www.econbiz.de/10005372670

New challenges for monetary policy : a summary of the Bank's 1999 Symposium

Gordon H. Sellon, Jr.; Buskas, Charmaine R. - In: Economic Review (1999) Q IV, pp. 5-15

After two decades of successfully restoring price stability in much of the world economy, central banks begin the next millennium facing a new set of challenges. One key task is how to conduct monetary policy in an era of price stability. Clearly, policymakers would like inflation to remain...

Persistent link: https://www.econbiz.de/10005373431

Optimal monetary policy in a model of overlapping price contracts

Fuhrer, Jeffrey C. - Federal Reserve Bank of Boston - 1994

This study estimates a model of overlapping nominal price contracts over three distinct monetary policy regimes, testing the stability of the parameters in the model across regimes. Upon finding a model that is stable over the three subsamples, the model then holds for the most recent monetary...

Persistent link: https://www.econbiz.de/10005379719

ESSET PRICES AND INTEREST RATES IN CASH-IN-ADVANCE MODELS.

GIOVANNINI, A.; LABADIE, P. - Institute for International Economic Studies (IIES), … - 1989

Persistent link: https://www.econbiz.de/10005207695

CLAVES DE LA INFLACION DE 2005

Marongiu, Federico - EconWPA - 2005

El tema de la inflación ha sido uno de los más debatidos en los últimos meses. Los incrementos de precios registrados en el primer trimestre de 2005 han avivado la discusión. Este trabajo muestra que el problema está lejos de estar fuera de control y que determinadas medidas de política...

Persistent link: https://www.econbiz.de/10005076625

The identification of the response of interest rates to monetary policy actions using market-based measures of monetary policy shocks

Thornton, Daniel L. - Federal Reserve Bank of St. Louis - 2009

It is common practice to estimate the response of asset prices to monetary policy actions using market-based measures …

Persistent link: https://www.econbiz.de/10005077869