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Endogenous Indexing and Monetary Policy Models

Mash, Richard - Institut für Weltwirtschaft (IfW) - 2007

monetary policy literature. The extent to which these firms adjust their prices to lagged inflation has been taken as fixed. We …

Persistent link: https://www.econbiz.de/10005818884

Monetary Policy with Endogenous Firm Entry and Sticky Entry Costs

Griffoli, Tommaso Mancini - International Economics Section, The Graduate Institute … - 2006

This paper builds a monetary model where firm entry is endogenous, thereby exposing a new channel for the transmission of monetary policy. Individuals have a choice between consuming or investing in new firms by financing a sunk entry cost. Monetary policy shocks affect the cost-benefit analysis...

Persistent link: https://www.econbiz.de/10005819637

Inflation Targeting - the Holy Grail of Monetary Policy?

Genberg, Hans - International Economics Section, The Graduate Institute … - 2002

Inflation targeting is a statement about the objective of central bank policy and not about operating procedures. Its … structure and monetary transmission mechanism, the implementation of inflation targeting must be country specific. Instability … over time in the transmission mechanism also implies that inflation targeting strategies must evolve over time to avoid the …

Persistent link: https://www.econbiz.de/10005819641

As Good As It Gets? The International Dimension to Canada's Monetary Policy Strategy Choices

Siklos, Pierre L. - In: C.D. Howe Institute Commentary (2009) 292

The Bank of Canada must take account of the international environment, where inflation targeting has become widespread … decade and the consequences of the worldwide spread of inflation-control regimes for Canada’s targeting program, which …

Persistent link: https://www.econbiz.de/10004964341

Monetary Policy, Velocity, and the Equity Premium

Gust, Christopher; López-Salido, J David - C.E.P.R. Discussion Papers - 2009

. While stimulative monetary policy can lower risk in equity markets, it is also associated with higher inflation expectations … and inflation risk premia. The model gives rise to periods in which the zero lower bound constraint on the nominal …

Persistent link: https://www.econbiz.de/10004964418

Agricultural Trade Policy Issues in the Eighties, Current Research and Long-Term Forecasting

Hanrahan, Charles E. - International Agricultural Trade Research Consortium - IATRC - 1983

Domestic agricultural policy and trade policy are closely linked. Thus, research, including long-term forecasting activities, must take into account the domestic as well as international implications of trade policy issues. The seventh meeting of the Consortium on Trade Research on June 23-24,...

Persistent link: https://www.econbiz.de/10004964487

On Policy Interactions Among Nations: When Do Cooperation and Commitment Matter?

Thadden, Leopold von; Kempf, Hubert - Fondazione ENI Enrico Mattei (FEEM) - 2008

This paper offers a framework to study commitment and cooperation issues in games with multiple policymakers. To reconcile some puzzles in the recent literature on the nature of policy interactions among nations, we prove that games characterized by different commitment and cooperation schemes...

Persistent link: https://www.econbiz.de/10004965197

El control de los agregados monetarios: lecciones y experiencias del caso venezolano reciente

Vera, Leonardo V. - In: Revista Economia e Sociedade 36 (2009) 4, pp. 41-41

This work examines the difficulties and formidable challenges faced by monetary authorities to control the behavior of monetary aggregates in an open economy dependent of an exportable natural resource such as Venezuela. The work not only introduces analytical arguments but also provides some...

Persistent link: https://www.econbiz.de/10004965221

The euro area inefficiency gap

Galí, Jordi; Gertler, Mark; López-Salido, J. David - Banco de España - 2003

We construct a measure of Euro area cyclical efficiency, following the approach developed in Galí, Gertler and López-Salido (2002). Our measure –which we call "the gap"– corresponds to the inverse of price over social marginal cost. Here we present a time series of this gap for the Euro...

Persistent link: https://www.econbiz.de/10004965249

A Minsky meltdown: lessons for central bankers

Yellen, Janet L. - In: FRBSF Economic Letter (2009)

This Economic Letter is adapted from a speech delivered by Janet L. Yellen, president and CEO of the Federal Reserve Bank of San Francisco, to the 18th Annual Hyman P. Minsky Conference on the State of the U.S. and World Economies on April 16, 2009, in New York City.

Persistent link: https://www.econbiz.de/10004965385