Similar Search Results

Central Bank Transparency and Short Term Interest Rate Forecasting Uncertainty

Hayford, Marc D. - 2008

In 1994 the Federal Reserve System moved to a more transparent reporting of monetary policy. In this paper we first discuss the evolution of Federal Reserve transparency in U.S. and second we test its effectiveness. We assess the empirical impact of monetary policy transparency on the...

Persistent link: https://www.econbiz.de/10012723363

Revealing the Preferences of the US Federal Reserve

Ilbas, Pelin - 2008

We use Bayesian methods to estimate the preferences of the US Federal Reserve by assuming that monetary policy is performed optimally under commitment since the mid-sixties. For this purpose, we distinguish between three subperiods, i.e. the pre-Volcker, the Volcker-Greenspan and the Greenspan...

Persistent link: https://www.econbiz.de/10012723870

Transparent Monetary Policy

Hayford, Marc D. - 2007

Persistent link: https://www.econbiz.de/10012728902

Credibility and Flexibility with Monetary Policy Committees

Mihov, Ilian - 2007

We consider independent monetary policy committees as a simple way of attaining relatively low inflation without completely sacrificing an activist role of monetary policy. If central banker's types are unknown, then for a wide range of parameters an independent monetary policy committee is...

Persistent link: https://www.econbiz.de/10012729264

The Philippine Central Bank's Monetary Policy Reaction Function from 1992 to 2003

Salas, John Michael Ian S - 2007

This paper attempts to provide an empirical determination of the Philippine central bank's (BSP) recent monetary policy …

Persistent link: https://www.econbiz.de/10012730235

Money in Monetary Policy Design Under Uncertainty : The Two-Pillar Phillips Curve Versus Ecb-Style Cross-Checking

Beck, Günter W. - 2007

The European Central Bank has assigned a special role to money in its two pillar strategy and has received much … bank's interest rate rule is based on a standard model of the monetary transmission process that underlies many … response to sustained deviations of long-run money growth helps the central bank to overcome this bias. Our argument in favor …

Persistent link: https://www.econbiz.de/10012731249

Why Central Banks (and Money) 'Rule the Roost'

Sardoni, Claudio - 2006

Some have argued that a significant decrease in the demand for money, due to financial innovations, could imply that central banks are unable to implement effective monetary policies. This paper argues that central banks are always able to influence the economy's interest rates, because their...

Persistent link: https://www.econbiz.de/10012733380

Transparency of Monetary Policy Formulation : The Reserve Bank of India

Jayaram, Shruthi - 2008

This paper focuses on the transparency in policy formulation of the Reserve Bank of India. It quantifies its …

Persistent link: https://www.econbiz.de/10012772560

The Predictability of Monetary Policy

Blattner, Tobias Sebastian - 2008

understand the monetary policy framework of a central bank, i.e. its objectives and systematic behaviour in reacting to different … central bank. This paper reviews the main conceptual issues relating to predictability, both in its short and longer …

Persistent link: https://www.econbiz.de/10012772989

Shocks, Structures or Monetary Policies? The Euro Area and US After 2001

Christiano, Lawrence J. - 2007

The US Federal Reserve cut interest rates more vigorously in the recent recession than the European Central Bank did …

Persistent link: https://www.econbiz.de/10012776610