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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

Identifying the effects of U.S. intervention on the levels of exchange rates

Neely, Christopher J. - Federal Reserve Bank of St. Louis - 2006

nonlinearity and seemingly innocuous identification assumptions. ; Earlier title: Identifying the effects of central bank …

Persistent link: https://www.econbiz.de/10005352809

Technical analysis and central bank intervention

Neely, Christopher; Weller, Paul - Federal Reserve Bank of St. Louis - 2000

This paper extends the genetic programming techniques developed in Neely, Weller and Dittmar (1997) to show that technical trading rules can make use of information about U.S. foreign exchange intervention to improve their out-of-sample profitability for two of four exchange rates. Rules tend to...

Persistent link: https://www.econbiz.de/10005352837

Central bank design in general equilibrium

Bullard, James; Waller, Christopher J. - Federal Reserve Bank of St. Louis - 2002

We study the effects of alternative institutional arrangements for the determination of monetary policy in the context of a capital-theoretic, general equilibrium economy. In the absence of an institutional arrangement, there is a continuum of steady state equilibria indexed by rates of...

Persistent link: https://www.econbiz.de/10005352932

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

Independence + accountability: why the Fed is a well-designed central bank

Waller, Christopher J. - In: Review (2011) Sep, pp. 293-302

In 1913, Congress purposefully created the Federal Reserve as an independent central bank, which created a fundamental … of the Federal Reserve System. A central bank’s independence, however, is the key tool to ensure a government will not …

Persistent link: https://www.econbiz.de/10009292970

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

What the euro crisis means for taxpayers and the U.S. economy

Dudley, William C. - In: Speech (2011) Dec. 16

Testimony before the Subcommittee on TARP, Financial Services and Bailouts of Public and Private Programs, Committee on Oversight and Government Reform, U.S. House of Representatives.

Persistent link: https://www.econbiz.de/10009395288

Relating commodity prices to underlying inflation: the role of expectations

Davis, J. Scott - In: Economic Letter 6 (2011)

headline inflation rate. ; Because central bank anti-inflation measures sometimes take a long time to affect prices … adjusted). In fact, the mandate of many inflation-targeting central banks is to aim to keep headline inflation at a certain …-targeting central bank doesn’t aim to contain short-run headline inflation fluctuations. …

Persistent link: https://www.econbiz.de/10009416014

Testimony on the economic and fiscal challenges facing Europe

Dudley, William C. - In: Speech (2012) Mar 27

Testimony before the Subcommittee on Domestic Monetary Policy and Technology, Committee on Financial Services, United States House of Representatives, Washington, D.C.

Persistent link: https://www.econbiz.de/10010551216