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Central bank independence and the costs of disinflation in the EC
Walsh, Carl E. - Federal Reserve Bank of San Francisco - 1994
Persistent link: https://www.econbiz.de/10005078251
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Optimal policy with limited commitment
Kasa, Kenneth - Federal Reserve Bank of San Francisco - 1994
This paper uses Whiteman's(1986) frequency-domain optimization methodology to parameterize the precommitment period in a standard rational expectations policy design model. This allows researchers to adopt an empirical approach to the time consistency issue. That is, the operative commitment...
Persistent link: https://www.econbiz.de/10005078309
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Central bank secrecy and money surprises: international evidence
Hutchison, Michael; Judd, John P. - Federal Reserve Bank of San Francisco - 1991
The information value of central bank announcements of projected future money growth is shown to depend both on the …
Persistent link: https://www.econbiz.de/10005078333
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Reflections of a central banker
Sproul, Allan - In: Quarterly Review (1989) Special, pp. 21-28
of central banking issues and to contribute in this way to informed monetary policy decisions. Sproul's address provides …
Persistent link: https://www.econbiz.de/10005346228
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Is there a cost to having an independent central bank?
Walsh, Carl E. - In: FRBSF Economic Letter (1994)
Persistent link: https://www.econbiz.de/10005346282
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Targeting vs. instrument rules for monetary policy
McCallum, Bennett T.; Nelson, Edward - Federal Reserve Bank of St. Louis - 2004
-making errors are relevant under the two alternative approaches. Arguments relating to general targeting rules and actual central …
Persistent link: https://www.econbiz.de/10005352773
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Lessons for monetary policy: what should the consensus be?
Issing, Otmar - Federal Reserve Bank of Dallas - 2011
financial instability. In contrast, giving, inter alia, monetary factors a role in central banks' policy decisions, as is done … financial stability. Finally, this paper makes a case against increasing the central banks' inflation target. …
Persistent link: https://www.econbiz.de/10009292926
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Should central banks raise their inflation targets? Some relevant issues
McCallum, Bennett T. - In: Economic Quarterly (2011) 2Q, pp. 111-131
target inflation would undermine the rationale for central bank independence and constitute an additional movement away from …
Persistent link: https://www.econbiz.de/10009320887
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Trade dynamics in the market for federal funds
Afonso, Gara; Lagos, Ricardo - Federal Reserve Bank of New York - 2012
the model for theoretical and quantitative analyses of policy issues facing modern central banks. …
Persistent link: https://www.econbiz.de/10010551300
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The conquest of Mexican inflation
Wynne, Mark; Skelton, Edward C. - In: Annual Report (2011), pp. 13-20
Central bank independence has never been more important, ensuring that central bankers are able to deliver on their …
Persistent link: https://www.econbiz.de/10010551340