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Optimal Central Bank Conservatism and Monopoly Trade Unions

Hefeker, Carsten - 2002

, welfare will be lower with a conservative than with a liberal central bank. We reframe this discussion in a standard trade … the central bank less conservative than society, however, if the outside option is in real terms. As the nominal … always optimal if the government can choose the level of nominal unemployment benefits as well as the degree of central bank …

Persistent link: https://www.econbiz.de/10014399704

Financial Reforms in Sudan : Streamlining Bank Intermediation

Kireyev, Alexei - 2001

factors that constrain financial intermediation. Additional efforts, in particular in bank restructuring, credit instrument …

Persistent link: https://www.econbiz.de/10014399707

Banks and Monetary Shocks in Emerging Markets : How Far Can We Go with the ""Credit View""?

Catão, Luis - 2000

activity is costly and the non-tradable sector is highly dependent on domestic bank credit, as in most emerging market …

Persistent link: https://www.econbiz.de/10014399715

Monetary Policy Credibility and the Unemployment-Inflation Tradeoff : Some Evidence From 17 Industrial Countries

N'Diaye, Papa M'B. P. - 2002

Using data on long-term interest rates for 17 industrial countries, this paper develops some simple measures of monetary policy credibility and then tests if such measures improve the out-of-sample forecasts of conventional models of the inflation-unemployment process. The results provide some...

Persistent link: https://www.econbiz.de/10014399723

Exchange Market Pressure, Currency Crises, and Monetary Policy : Additional Evidence From Emerging Markets

Tanner, Evan - 2002

analyzes crisis periods. Two variables gauge the stance of monetary policy: the growth of central bank domestic credit and the …

Persistent link: https://www.econbiz.de/10014399781

Fiscal Sustainability and Monetary Versus Fiscal Dominance : Evidence From Brazil, 1991-2000

Tanner, Evan - 2002

Under a monetary dominant (MD) regime, the primary surplus adjusts to limit debt growth, permitting monetary policy to be conducted independently of fiscal financing requirements. In Brazil, some evidence favors an MD regime for 1995–97, but not for the decade of the 1990s as a whole. While...

Persistent link: https://www.econbiz.de/10014399808

Money Demand in Guyana

Egoumé-Bossogo, Philippe - 2000

This paper analyzes broad money demand (M2) in Guyana from January 1990 to September 1999; a period marked by deep transformations aimed at shifting Guyana from a centralized to a market economy. The paper develops a stable error-correction model based on a long-run cointegrating vector of money...

Persistent link: https://www.econbiz.de/10014399832

Selected Issues Concerning Monetary Policy and Institutional Design for Central Banks : A Review of Theories

Beddies, Christian H. - 2000

strong case for central bank independence, more work should be done in the area of determining the desirable degree of …

Persistent link: https://www.econbiz.de/10014399833

Debt Stabilization Bias and the Taylor Principle : Optimal Policy in a New Keynesian Model with Government Debt and Inflation Persistence

Vines, David - 2007

We analyse optimal monetary and fiscal policy in a New-Keynesian model with public debt and inflation persistence. Leith and Wren-Lewis (2007) have shown that optimal discretionary policy is subject to a ''debt stabilization bias'' which requires debt to be returned to its pre-shock level. This...

Persistent link: https://www.econbiz.de/10014399841

Practical Model-Based Monetary Policy Analysis : A How-To Guide

Laxton, Douglas - 2006

This paper provides a how-to guide to model-based forecasting and monetary policy analysis. It describes a simple structural model, along the lines of those in use in a number of central banks. This workhorse model consists of an aggregate demand (or IS) curve, a price-setting (or Phillips)...

Persistent link: https://www.econbiz.de/10014399871