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The Philippine Central Bank's Monetary Policy Reaction Function from 1992 to 2003

Salas, John Michael Ian S. - EconWPA - 2004

This paper attempts to provide an empirical determination of the Philippine central bank's (BSP) recent monetary policy … addition, currency stability and expansionary money supply (M1) growth are other concerns of the BSP, though significantly so …

Persistent link: https://www.econbiz.de/10005561255

Bank risks, risk preferences and lending

Chmielewski, Tomasz - Volkswirtschaftliche Fakultät, … - 2005

The recent debate on the impact of capital regulation on bank behaviour shows that risk exposures of banks might … influence the amount of loans newly granted to the non-financial sector. The paper extends the traditional set of bank …-specific variables used in testing for the bank lending channel and points to the role of financial stability analysis in the conduct of …

Persistent link: https://www.econbiz.de/10005623224

Interest rate transmission mechanism of the monetary policy in the selected EMU candidate countries (SVAR approach)

Mirdala, Rajmund - Volkswirtschaftliche Fakultät, … - 2009

The stable macroeconomic environment, as one of the primary objectives of the Visegrad countries in the 1990s, was partially supported by the exchange rate policy. Fixed exchange rate systems within gradually widen bands (Czech republic, Slovak republic) and crawling peg system (Hungary, Poland)...

Persistent link: https://www.econbiz.de/10005623288

Une note sur la règle du taux d’intérêt et le rôle de la courbe LM

Dai, Meixing - Volkswirtschaftliche Fakultät, … - 2003

This note takes part in the debate on the topic “a macroeconomics without LM”. It shows that, when the central bank … does not control directly the interest rates on the money and financial markets, LM curve has another role to play than to … determine in an endogenous way the money supply when the monetary policy is specified in terms of interest rate rule. In effect …

Persistent link: https://www.econbiz.de/10005623342

Unemployment, Inflation and Monetary Policy in a Dynamic New Keynesian Model with Hiring Costs

Abbritti, Mirko; Boitani, Andrea; Damiani, Mirella - Volkswirtschaftliche Fakultät, … - 2006

The dynamic general equilibrium model with hiring costs presented in this paper delivers involuntary unemployment in the steady state and involuntary fluctuations in unemploy- ment. After calibrating the model, through simulations we are able to show that our model with labour market...

Persistent link: https://www.econbiz.de/10005623410

Budgetary Policies in a DSGE Model with Finite Horizons

Annicchiarico, Barbara; Giammarioli, Nicola; … - Volkswirtschaftliche Fakultät, … - 2009

This paper presents a dynamic stochastic general equilibrium model with nominal rigidities, capital accumulation and finite horizons. Our New Keynesian framework exhibits intergenerational wealth effects and is intended to investigate the macroeconomic implications of fiscal policy, which is...

Persistent link: https://www.econbiz.de/10005623447

Are Non-Fundamental Equilibria Learnable in Models of Monetary Policy?.

Honkapohja, S.; Mitra, K. - Politiikan ja Talouden Tutkimuksen Laitos, … - 2001

Recent models of monetary policy and monetary rules can have indeterminacy of equilibria. The indeterminacy property is often viewed as a difficulty of these models. We consider its significance using the learning approach to expectations formation by employing expectational stability as a...

Persistent link: https://www.econbiz.de/10005625269

Inflation Targeting: the Finnish Experience.

Kanniainen, V. - Politiikan ja Talouden Tutkimuksen Laitos, … - 1999

It is indeed inflation targeting which has over recent years become popular in many central banks. The author's task will, however, be somewhat more limited in that she will try to evaluate the switch of monetary policies from the target zone approach to an explicit inflation target in her own...

Persistent link: https://www.econbiz.de/10005625273

Canadian Evidence on Long-Run Neutrality Propositions.

Koustas, Z. - Department of Economics, York University - 1996

-run neutrality propositions in the Canadian context. We test for long-run money neutrality, the vertical long-run Phillips curve, and …

Persistent link: https://www.econbiz.de/10005625420

The Advantage of Tying One's Economist's Hand: The Value of Information in a Monetary Policy Model.

Swank, O.T. - Faculteit der Economische Wetenschappen, Erasmus … - 1992

Persistent link: https://www.econbiz.de/10005625445