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Should monetary policy monitor risk premiums in financial markets?

Doh, Taeyoung; Cao, Guangye; Molling, Daniel - In: Macro Bulletin (2015) Feb 26, pp. 1-2

The authors examine whether risk premiums can predict future economic growth and whether monetary policy can influence risk premiums.

Persistent link: https://www.econbiz.de/10011185867

Should monetary policy monitor risk premiums in financial markets?

Doh, Taeyoung; Cao, Guangye; Molling, Daniel - In: Economic Review (2015) Q I, pp. 4-28

Persistent link: https://www.econbiz.de/10011185871

Monetary Policy and Debt Deflation: Some Computational Experiments

Chiarella, Carl; Guilmi, Corrado Di - Crawford School of Public Policy, Australian National … - 2013

. Monte Carlo simulations show that an excessive sensitivity of the central bank to inflation, the output gap and firms' debt … effectively stabilise the economy. The paper also addresses the puzzle of low inflation during stock market booms by testing …

Persistent link: https://www.econbiz.de/10011185976

Global House Price Fluctuations: Synchronization and Determinants

Hirata, Hideaki; Kose, M. Ayhan; Otrok, Christopher; … - Crawford School of Public Policy, Australian National … - 2013

We examine the properties of house price fluctuations across 18 advanced economies over the past 40 years. We ask two specific questions: First, how synchronized are housing cycles across these countries? Second, what are the main shocks driving movements in global house prices? To address these...

Persistent link: https://www.econbiz.de/10011186033

How Experts Decide: Preferences or Private Assessments on a Monetary Policy Committee?*

Hansen, Stephen; Rivera, Carlos Velasco; McMahon, Michael - Crawford School of Public Policy, Australian National … - 2013

Using voting data from the Bank of England, we show that different individual assessments of the economy strongly influence votes after controlling for individual policy preferences. We estimate that internal members form more precise assessments than externals and are also more hawkish, though...

Persistent link: https://www.econbiz.de/10011186042

Towards the end of deflation in Japan?. Monetary policy under Abenomics and the role of the central bank

Uchida, Mahito - In: Revue de l'OFCE N° 135 (2014) 4, pp. 243-268

In this paper, I investigate the Bank of Japan?s monetary policy effects under Abenomics at the initial stage. First, I describe briefly what is ?Abenomics? and ?New monetary policy under Abenomics? since April 2013. I also examine the causes of the sharp response of the yen and Japanese stock...

Persistent link: https://www.econbiz.de/10011187078

L'Eurosystème : un mécanisme de transferts en faveur des pays déficitaires ?. Le débat

Grjebine, André - In: Revue de l'OFCE N° 126 (2012) 7, pp. 269-298

A number of economists, following Professor Hans-Werner SINN, President of the Munich Institut für Wirtschaftsforschung (Ifo), have opened a debate on the true significance and the risks entailed by the system of compensation operating within the Eurozone, TARGET2 (Trans-European Automated...

Persistent link: https://www.econbiz.de/10011187097

Monetary Policy Deliberations : Committee Size and Voting Rules

Maurin, Vincent; Vidal, Jean-Pierre - In: Recherches économiques de Louvain 80 (2014) 2, pp. 47-83

How large should a monetary policy committee be ? Which voting rule should a monetary policy committee adopt ? This paper builds on Condorcet?s jury theorem to analyse the relationships between committee size and voting rules in a model where policy discussions are subject to a time...

Persistent link: https://www.econbiz.de/10011187382

Politiques de stabilisation en Europe de l'Est : ancrage par le change ou ciblage d'inflation ?

Brana, Sophie; Prat, Stéphanie - In: Mondes en développement n° 167 (2014) 3, pp. 93-112

exchange rate strategies to fight against inflation. One can find the full spectrum of regimes, from free floating, currency … board, monetary anchors, inflation targeting, through crawling pegs or fluctuation bands. This article examines the impact … of these strategies on the performance in terms of inflation for a panel of 14 Central and Eastern European countries. It …

Persistent link: https://www.econbiz.de/10011187794

A dynamic network model of the unsecured interbank lending market

Blasques, Francisco; Bräuning, Falk; Lelyveld, Iman van - Bank for International Settlements (BIS) - 2015

We introduce a structural dynamic network model of the formation of lending relationships in the unsecured interbank market. Banks are subject to random liquidity shocks and can form links with potential trading partners to bilaterally Nash bargain about loan conditions. To reduce credit risk...

Persistent link: https://www.econbiz.de/10011188496