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Monetary policy regimes and inflation persistence in the United Kingdom

Zakipour-Saber, Shayan - 2019

This paper conducts a structural analysis of inflation persistence in the United Kingdom between 1965-2009. I allow for … and stochastic shock volatility. The first policy regime responds passively to movements in inflation, adjusting the … other regime responds actively to inflation and places less weight on exchange rate movements. This regime is present for …

Persistent link: https://www.econbiz.de/10012121979

The yield curve slope and monetary policy innovations

Gamber, Edward N.; Joutz, Frederick L. - 2005

economy. Romer and Romer (2000) found that the Fed reveals information about inflation when it tightens monetary policy. Their … exclude the Fed's revelation of its asymmetric information about future inflation. …

Persistent link: https://www.econbiz.de/10010293721

Identifying the effects of monetary policy shocks in an open economy

Jacobson, Tor; Jansson, Per; Vredin, Anders; Warne, Anders - 2002

This paper presents estimates of the effects of monetary policy shocks on the Swedish economy. A theoretical model of an open economy is used to identify a structural VAR model. The empirical results from the identified VAR model are compared with two less structural approaches for...

Persistent link: https://www.econbiz.de/10011583125

Effects of monetary policy shocks on UK regional activity : a constrained MFVAR approach

Mandalinci, Zeyyad - 2015

This paper examines the effects of monetary policy shocks on UK regional economic growth and dispersion in a novel Constrained Mixed Frequency Vector Autoregressive framework. Compared to a standard MFVAR, the model partially accounts for missing quarterly observations for regional growth by...

Persistent link: https://www.econbiz.de/10011372798

Debt dynamics and monetary policy : a note

Laséen, Stefan; Strid, Ingvar - 2013

"Leaning against the wind" - a tighter monetary policy than necessary for stabilizing inflation around the inflation …

Persistent link: https://www.econbiz.de/10010227164

Unconventional monetary policy in a small open economy

MacDonald, Margaux; Popiel, Michal Ksawery - 2016

This paper investigates the effects of unconventional monetary policy in Canada. We use recently proposed methods to construct a shadow interest rate that captures monetary policy at the zero lower bound (ZLB) and estimate a small open economy Bayesian structural vector autoregressive (B-SVAR)...

Persistent link: https://www.econbiz.de/10011531930

Signaling effects of monetary policy

Melosi, Leonardo - 2016

Survey of Professional Forecasters as a measure of price setters' inflation expectations. This model improves upon existing … perfect information models in explaining why, in the data, inflation expectations respond with delays to monetary impulses and …, explaining why inflation and inflation expectations were so persistently heightened. The signaling effects of monetary policy …

Persistent link: https://www.econbiz.de/10011559878

Monetary policy shocks, expectations and information rigidities

Beckmann, Joscha; Czudaj, Robert - 2018

This paper contributes to the literature by assessing expectation effects from monetary policy for the G7 economies. We consider a sample period running from 1995M1 to 2016M6 based on a panel VAR framework, which accounts for international spillovers and time-variation. Relying on a broad set of...

Persistent link: https://www.econbiz.de/10011806725

Interaction of monetary and fiscal policies in Turkey

Büyükbaşaran, Tayyar; Çebi, Cem; Yılmaz, Erdal - In: Central Bank review / Central Bank of the Republic of Turkey 20 (2020) 4, pp. 193-203

This paper aims to investigate the interaction between monetary and fiscal policies in Turkey. For this purpose, a Bayesian Structural Vector Autoregression (SVAR) model with sign and zero restrictions is used. We particularly focus on how the fiscal and monetary policy variables respond to...

Persistent link: https://www.econbiz.de/10012429632

Active driver or passive victim : on the role of international monetary policy transmission

Camehl, Annika; Schweinitz, Gregor von - Leibniz-Institut für Wirtschaftsforschung Halle - 2023

We provide new insights into determinants of international interest rates spillovers across seven advanced economies. To disentangle and quantify their respective importance, we identify country-specific structural monetary policy, demand, and supply equations in a Bayesian structural panel...

Persistent link: https://www.econbiz.de/10014025780