Asset prices may react to news through changes in expected monetary policy. We examine whether economic news directly affects expected changes in monetary policy, measured by changes in federal funds rate futures prices. Because these prices depend on monthly averages of the effective funds...

This paper considers an overlapping generations economy with capital accumulation and two outside assets (government bonds, fiat money) and compares the dynamic properties of two stylized monetary policy rules: (i) a constant money growth rule and (ii) an interest rate targeting rule which...

We consider the channel consisting in transferring the credit risk associated with refinancing operations between financial institutions to market participants. In particular, we analyze liquidity and volatility premia on the French government debt securities market, since these assets are used...

A conference about fiscal and monetary policy in the aftermath of the financial crisis was organised on 8-9 December in Paris by the Banque de France together with the Paris School of Economics, the Euro Area Business Cycle Network and The Economic Journal. It brought together prominent...

This paper proposes a comparative analysis of the main macroeconomic aggregates (both real and credit aggregates) and the monetary policy response during the most severe recessions experienced by the Italian economy. This descriptive study focuses mainly on the last forty years, a period for...

The goal of this paper is to analyze the role played by innovations on economic activity. In this sense, the relationship between innovation and economic growth is studied, being economic growth the current main objective of economic policy to reduce unemployment and to increase social welfare....

Presentation to the City Club of San Francisco, San Francisco, CA, September 24, 2012>

Presented by Charles I. Plosser, President and Chief Executive Officer, Federal Reserve Bank of Philadelphia CFA Society of Philadelphia/The Bond Club of Philadelphia, September 25, 2012

September 20, 2012. Presentation. "A Singular Achievement of Recent Monetary Policy." Presented at Theodore and Rita Combs Distinguished Lecture Series in Economics, University of Notre Dame.

Remarks by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, at the South Shore Chamber of Commerce, Quincy, Massachusetts, September 20, 2012.