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Monetary Policy and Asset Prices : Does ""Benign Neglect"" Make Sense?

Jeanne, Olivier - 2002

of the type considered in the inflation-targeting literature …

Persistent link: https://www.econbiz.de/10014401453

Strategic Interactions Between An Independent Central Bank and a Myopic Government with Government Debt

Stehn, Sven Jari - 2008

We analyse optimal discretionary games between a benevolent central bank and a myopic government in a New Keynesian model. First, when lump-sum taxes are available and public debt is absent, we show that a Nash game results in too much government spending and excessively high interest rates,...

Persistent link: https://www.econbiz.de/10014401471

Does Government Spending Crowd in Private Consumption? : Theory and Empirical Evidence for the Euro Area

Coenen, Günter - 2005

In this paper, we revisit the effects of government spending shocks on private consumption within an estimated New-Keynesian DSGE model of the euro area featuring non-Ricardian households. Employing Bayesian inference methods, we show that the presence of non- Ricardian households is in general...

Persistent link: https://www.econbiz.de/10014401503

Monetary Policy in the Aftermath of Currency Crisis : The Case of Asia

Baig, Taimur - 1998

rates. The usual trade-off between inflation and output when raising interest rates suggested the need for a softer monetary …

Persistent link: https://www.econbiz.de/10014401509

Constraintson the Design and Implementation of Monetary Policy in Oil Economies : The Case of Venezuela

International Monetary Fund - 2008

inflation. Economies that exhibit oil dominance-a situation in which oil exports largely affect the main macroeconomic …

Persistent link: https://www.econbiz.de/10014401522

The Choice of Monetary and Exchange Rate Arrangements for a Small, Open, Low-Income Economy : The Case of Sao tome and Principe

Wang, Jian-Ye - 2008

This paper assesses São Tomé and Príncipe''s monetary and exchange rate arrangements in light of the country''s monetary history and the relevant experience of comparable countries in Africa. The study highlights several structural characteristics of São Tomé and Príncipe including its...

Persistent link: https://www.econbiz.de/10014401524

Inflation Targeting in Practice : Strategic and Operational Issues and Application to Emerging Market Economies

Bléjer, Mario I. - 2000

A growing number of countries are anchoring their monetary policy through explicit inflation targeting. This policy has … already scored remarkable successes in several countries, establishing central bank credibility, and reining in inflation … where it had long been stubbornly high. But implementing inflation targets raises many difficult questions. What …

Persistent link: https://www.econbiz.de/10014401539

Zimbabwe : Challenges and Policy Options after Hyperinflation

International Monetary Fund - 2010

This paper examines the challenges and policy options after hyperinflation in Zimbabwe. The paper reviews the pros and cons of alternative monetary regimes for Zimbabwe to succeed the current multicurrency system, which the authorities consider a temporary arrangement. The analysis suggests that...

Persistent link: https://www.econbiz.de/10014401597

Taylor Rule Under Financial Instability

Cihák, Martin - 2008

financial system. Our simulations suggest that if financial instability affects output and inflation with a lag and if the … central bank has privileged information about credit risk, monetary policy that responds instantly to increased credit risk … can trade off more output and inflation instability today for a faster return to the trend than a policy that follows the …

Persistent link: https://www.econbiz.de/10014401645

Monetary and Exchange Rate Policies of the Euro Area

International Monetary Fund - 2000

The economic conditions in the euro area have brightened. Executive Directors commended the policy stance of the European Central Bank. They noted that the exchange rate developments of the euro failed to strengthen the euro area economy, and stressed the need for fiscal discipline, structural...

Persistent link: https://www.econbiz.de/10014401709