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Remarks by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, to the Business and Industry Association of New Hampshire and the New Hampshire Bankers Association, Saint Anselm College, Manchester, New Hampshire, March 27, 2013.
Persistent link: https://www.econbiz.de/10010633071
acceptance of its monetary policy framework – one centered on sustained low, and therefore stable, inflation as a national …
Persistent link: https://www.econbiz.de/10010633195
Applying a uniform monetary policy by all European Union member states also require harmonization of monetary policy instruments and national interbank market integration also. Monetary policy instruments used by NBR (National Bank of Romania) have evolved over time as a result of alignment with...
Persistent link: https://www.econbiz.de/10010633690
Presentation to Town Hall Los Angeles, Los Angeles, California, April 3, 2013
Persistent link: https://www.econbiz.de/10010633795
Building on Giraud & Tsomocos (2009), we develop a model of non equilibrium international trades with incomplete markets. Trades occur in continuous time, both on international and domestic markets. Traders are assumed to exhibit locally rational expectations on future prices, interest rates and...
Persistent link: https://www.econbiz.de/10010635004
shocks. We develop a new-keynesian small open-economy model and show that non-food inflation is a good proxy for core … inflation in high-income countries, but not for middle-income and low-income countries. Although, in these countries we find … that associating non-food inflation and core inflation may be promoting bably-designed policies, and consequently central …
Persistent link: https://www.econbiz.de/10010635174
aspects of inflation targeting. Adopting such a strategy raises questions about maintaining exchange rate targeting. It has …
Persistent link: https://www.econbiz.de/10011025374
This paper investigates the relevance of the No-Ponzi game condition for public debt (i.e. the public debt growth rates has to be lower than the real interest rate, a necessary assumption for Ricardian equivalence) and of the transversality condition for the GDP growth rate (i.e. the GDP growth...
Persistent link: https://www.econbiz.de/10011025565
The bargaining power of international banks is currently still very high as compared to what it was at the time of the Bretton Woods conference. As a consequence, systemic financial crises are likely to remain recurrent phenomena with large effects on macroeconomic aggregates. Mainstream...
Persistent link: https://www.econbiz.de/10011025682
This paper investigates the identification, the determinacy and the stability of ad hoc, "quasi-optimal" and optimal policy rules augmented with financial stability indicators (such as asset prices deviations from their fundamental values) and minimizing the volatility of the policy interest...
Persistent link: https://www.econbiz.de/10011026031