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Discount Rate Policy And Alternative Federal Reserve Operating Procedures In A Rational Expectations Setting
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Book Synopsis Discount Rate Policy and Alternative Federal Reserve Operating Procedures in a Rational Expectations Setting by : David D. VanHoose
Download or read book Discount Rate Policy and Alternative Federal Reserve Operating Procedures in a Rational Expectations Setting written by David D. VanHoose and published by . This book was released on 1988 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Monetary Policy Strategies by : International Monetary Fund
Download or read book Monetary Policy Strategies written by International Monetary Fund and published by International Monetary Fund. This book was released on 1988-10-04 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper considers the merits of rules and discretion for monetary policy when the structure of the macroeconomic model and the probability distributions of disturbances are not well defined. It is argued that when it is costly to delay policy reactions to seldom-experienced shocks until formal algorithmic learning has been accomplished, and when time consistency problems are significant, a mixed strategy that combines a simple verifiable rule with discretion is attractive. The paper also discusses mechanisms for mitigating credibility problems and emphasizes that arguments against various types of simple rules lose their force under a mixed strategy.
Book Synopsis Monetary Policy Implementation: Operational Issues for Countries with Evolving Monetary Policy Frameworks by : Nils Mæhle
Download or read book Monetary Policy Implementation: Operational Issues for Countries with Evolving Monetary Policy Frameworks written by Nils Mæhle and published by International Monetary Fund. This book was released on 2020-02-07 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses operational issues for countries that want to reform their monetary policy frameworks. It argues that stabilizing short-term interest rates on a day-to-day basis has significant advantages, and thus that short-term interest rates, not reserve money, in most cases should be the daily operating target, including for countries relying on a money targeting policy strategy. The paper discusses how a policy formulation framework based on monetary aggregates can be combined with an operational framework that ensures more stable and predictable short-term rates to enhance policy transmission. It also discusses how to best configure an interest-rate-based operational framework when markets are underdeveloped and liqudity management capacity is weak.
Author :United States. Congress. House. Committee on Banking, Finance, and Urban Affairs Publisher : ISBN 13 : Total Pages :1108 pages Book Rating :4.3/5 (121 download)
Book Synopsis Transactions to Resolve Failed Depository Institutions by : United States. Congress. House. Committee on Banking, Finance, and Urban Affairs
Download or read book Transactions to Resolve Failed Depository Institutions written by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs and published by . This book was released on 1990 with total page 1108 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Changes in Central Bank Money Market Operating Procedures in the 1980s by : J. T. Kneeshaw
Download or read book Changes in Central Bank Money Market Operating Procedures in the 1980s written by J. T. Kneeshaw and published by . This book was released on 1989 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Monetary Policy Alternatives at the Zero Bound by : Ben S. Bernanke
Download or read book Monetary Policy Alternatives at the Zero Bound written by Ben S. Bernanke and published by www.bnpublishing.com. This book was released on 2009-03 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The success over the years in reducing inflation and, consequently, the average level of nominal interest rates has increased the likelihood that the nominal policy interest rate may become constrained by the zero lower bound. When that happens, a central bank can no longer stimulate aggregate demand by further interest-rate reductions and must rely on "non-standard" policy alternatives. To assess the potential effectiveness of such policies, we analyze the behavior of selected asset prices over short periods surrounding central bank statements or other types of financial or economic news and estimate "noarbitrage" models of the term structure for the United States and Japan. There is some evidence that central bank communications can help to shape public expectations of future policy actions and that asset purchases in large volume by a central bank would be able to affect the price or yield of the targeted asset.
Book Synopsis The Great Inflation by : Michael D. Bordo
Download or read book The Great Inflation written by Michael D. Bordo and published by University of Chicago Press. This book was released on 2013-06-28 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing world into the double digits. In the decades since, the immediate cause of the period’s rise in inflation has been the subject of considerable debate. Among the areas of contention are the role of monetary policy in driving inflation and the implications this had both for policy design and for evaluating the performance of those who set the policy. Here, contributors map monetary policy from the 1960s to the present, shedding light on the ways in which the lessons of the Great Inflation were absorbed and applied to today’s global and increasingly complex economic environment.
Book Synopsis Sectoral and Aggregate Shocks to Industrial Output in Germany, Japan and Canada by : Reva Krieger
Download or read book Sectoral and Aggregate Shocks to Industrial Output in Germany, Japan and Canada written by Reva Krieger and published by . This book was released on 1989 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Designing a Simple Loss Function for Central Banks by : Davide Debortoli
Download or read book Designing a Simple Loss Function for Central Banks written by Davide Debortoli and published by International Monetary Fund. This book was released on 2017-07-21 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: Yes, it makes a lot of sense. This paper studies how to design simple loss functions for central banks, as parsimonious approximations to social welfare. We show, both analytically and quantitatively, that simple loss functions should feature a high weight on measures of economic activity, sometimes even larger than the weight on inflation. Two main factors drive our result. First, stabilizing economic activity also stabilizes other welfare relevant variables. Second, the estimated model features mitigated inflation distortions due to a low elasticity of substitution between monopolistic goods and a low interest rate sensitivity of demand. The result holds up in the presence of measurement errors, with large shocks that generate a trade-off between stabilizing inflation and resource utilization, and also when ensuring a low probability of hitting the zero lower bound on interest rates.
Book Synopsis Is it Possible to Find an Econometric Law that Works Well in Explanation and Prediction? by : P. A. V. B. Swamy
Download or read book Is it Possible to Find an Econometric Law that Works Well in Explanation and Prediction? written by P. A. V. B. Swamy and published by . This book was released on 1990 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Random Walks Versus Fractional Integration by : Francis X. Diebold
Download or read book Random Walks Versus Fractional Integration written by Francis X. Diebold and published by . This book was released on 1988 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Market Failure and Resource Use by : Allen N. Berger
Download or read book Market Failure and Resource Use written by Allen N. Berger and published by . This book was released on 1988 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Initial Margin Requirements and Stock Returns Volatility by : Paul H. Kupiec
Download or read book Initial Margin Requirements and Stock Returns Volatility written by Paul H. Kupiec and published by . This book was released on 1989 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Efficiency Wages, Inter-industry Wage Differentials, and the Returns to Ability by : McKinley L. Blackburn
Download or read book Efficiency Wages, Inter-industry Wage Differentials, and the Returns to Ability written by McKinley L. Blackburn and published by . This book was released on 1988 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis A Reconciliation of Flow of Funds and Commerce Department Statistics on U.S. International Transactions and Foreign Investment Position by : Sarah A. Hooker
Download or read book A Reconciliation of Flow of Funds and Commerce Department Statistics on U.S. International Transactions and Foreign Investment Position written by Sarah A. Hooker and published by . This book was released on 1989 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Forecast Combination and Encompassing by : Francis X. Diebold
Download or read book Forecast Combination and Encompassing written by Francis X. Diebold and published by . This book was released on 1989 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis A Theory of Credit Rationing and the Maturity Structure of Debt by : Steven A. Sharpe
Download or read book A Theory of Credit Rationing and the Maturity Structure of Debt written by Steven A. Sharpe and published by . This book was released on 1989 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
