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Displaying results 1 to 22 of 22.

  1. Banks, money and the zero lower bound
    Author: Kumhof, Michael; Wang, Xuan
    Published: August 2018
    Publisher:  Bank of England, London

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Staff working paper / Bank of England ; no. 752
    Subjects: Banks; financial intermediation; endogenous money creation; bank loans; bank deposits; money demand; deposits-in-advance; Phillips curve; zero lower bound; monetary policy rules
    Scope: 1 Online-Ressource (circa 40 Seiten), Illustrationen
  2. Price stability and monetary policy effectiveness when nominal interest rates are bounded at zero
    Author: Coenen, Günter; Orphanides, Athanasios; Wieland, Volker
    Published: 2003
    Publisher:  CFS, Frankfurt am Main

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Print
    RVK Categories: QB 910 ; QB 910
    DDC Categories: 330; 380; 650; 670
    Series: CFS working paper series ; No. 2003,13
    Subjects: Geldpolitik; Zins; Preisstabilität; Liquiditätspräferenztheorie; Inflation Targeting; Schätzung
    Other subjects: (stw)Geldpolitik; (stw)Zins; (stw)Preisstabilität; (stw)Liquiditätspräferenz; (stw)Inflationssteuerung; (stw)Schätzung; (stw)USA; inflation targeting; price stability; monetary policy rules; liquidity trap; Arbeitspapier; Graue Literatur
    Scope: 25 S., graph. Darst., 21 cm
    Notes:

    Literaturverz. S. 18 - 20. - Auch im Internet unter der Adresse www.ifk-cfs.de verfügbar
  3. Did the Bundesbank follow a Taylor rule?
    an analysis based on real-time data
    Author: Clausen, Jens R.; Meier, Carsten-Patrick
    Published: 2003
    Publisher:  Inst. for World Economics, Kiel

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Print
    RVK Categories: QD 000 ; QD 000
    DDC Categories: 330; 380; 650; 670
    Series: Kiel working papers ; No. 1180
    Subjects: Taylor-Regel; Geldpolitik; Schätzung; :z Geschichte 1973-1998
    Other subjects: (stw)1973-1998; (stw)Taylor-Regel; (stw)Geldpolitik; (stw)Schätzung; (stw)Deutschland; jel:E32; jel:E52; German real-time data; output gap; monetary policy rules; Taylor-Regel (STW); Geldpolitik (STW); Schätzung (STW); Deutschland (STW); Arbeitspapier; Graue Literatur
    Scope: 27 S., graph. Darst., 21 cm
    Notes:

    Literaturverz. S. 16 - 19
  4. Data uncertainty and the role of money as an information variable for monetary policy
    Author: Coenen, Günter; Levin, Andrew T.; Wieland, Volker
    Published: 2001
    Publisher:  Europ. Central Bank, Frankfurt am Main

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  5. Robust frequency-based monetary policy rules
    Author: Dück, Alexander; Verona, Fabio
    Published: [2023]
    Publisher:  Institute for Monetary and Financial Stability, Goethe University Frankfurt, Frankfurt am Main

    Optimal monetary policy studies typically rely on a single structural model and identification of model-specific rules that minimize the unconditional volatilities of inflation and real activity. In our proposed approach, we take a large set of... more

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Optimal monetary policy studies typically rely on a single structural model and identification of model-specific rules that minimize the unconditional volatilities of inflation and real activity. In our proposed approach, we take a large set of structural models and look for the model-robust rules that minimize the volatilities at those frequencies that policymakers are most interested in stabilizing. Compared to the status quo approach, our results suggest that policymakers should be more restrained in their inflation responses when their aim is to stabilize inflation and output growth at specific frequencies. Additional caution is called for due to model uncertainty.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/268852
    Series: Working paper series / Institute for Monetary and Financial Stability ; no. 180 (2023)
    Subjects: monetary policy rules; policy evaluation; model comparison; model uncertainty; frequency domain
    Scope: 1 Online-Ressource (circa 42 Seiten), Illustrationen
  6. Monetary policy rules
    model uncertainty meets design limits
    Author: Dück, Alexander; Verona, Fabio
    Published: 19 September 2023
    Publisher:  Bank of Finland, Helsinki

    Optimal monetary policy studies typically rely on a single structural model and identification of model-specific rules that minimize the unconditional volatilities of inflation and real activity. In our proposed approach, we take a large set of... more

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    Optimal monetary policy studies typically rely on a single structural model and identification of model-specific rules that minimize the unconditional volatilities of inflation and real activity. In our proposed approach, we take a large set of structural models and look for the model-robust rules that minimize the volatilities at those frequencies that policymakers are most interested in stabilizing. Compared to the status quo approach, our results suggest that policymakers should be more restrained in their inflation responses when their aim is to stabilize inflation and output growth at specific frequencies. Additional caution is called for due to model uncertainty.

     
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    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789523234451
    Other identifier:
    hdl: 10419/277764
    Series: Bank of Finland research discussion papers ; 2023, 12
    Subjects: monetary policy rules; policy evaluation; model comparison; model uncertainty; frequency domain; design limits; DSGE models
    Scope: 1 Online-Ressource (circa 39 Seiten), Illustrationen
  7. Optimal interest rate gaps for flexible inflation targeting
    Author: Schaling, Eric; Morema, Kgotso
    Published: 13 December 2022
    Publisher:  Economic Research and Statistics Department, South African Reserve Bank, Pretoria

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    Media type: Book
    Format: Online
    Series: South African Reserve Bank working paper series ; WP, 22, 16
    Subjects: monetary policy; optimisation; monetary policy rules
    Scope: 1 Online-Ressource (circa 39 Seiten), Illustrationen
  8. Out of the ELB
    expected ECB policy rates and the Taylor Rule
    Author: Bernardini, Marco; Lin, Alessandro
    Published: [2023]
    Publisher:  Banca d'Italia, [Rom]

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Questioni di economia e finanza / Banca d'Italia ; number 815 (October 2023)
    Subjects: monetary policy rules; expectations; ECB’s survey of monetary analysts; effectivelower bound
    Scope: 1 Online-Ressource (circa 25 Seiten), Illustrationen
  9. Money Demand and Macroeconomic Stability Revisited
    Author: Schabert, Andreas; Stoltenberg, Christian
    Published: 2005
    Publisher:  Humboldt-Universität zu Berlin, Berlin

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
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    RVK Categories: QB 910 ; QC 320 ; QB 910
    Subjects: Geldnachfrage; Geldpolitik; Regelbindung; Realkasseneffekt; Vermögenseffekte des Geldes
    Other subjects: (stw)Geldnachfrage; (stw)Geldpolitik; (stw)Regelbindung versus Diskretion; (stw)Vermögenseffekt; Real balance effects; predetermined money; price level determination; real determinacy; monetary policy rules; Demand for money; Prices; Economic stabilization; Arbeitspapier; Graue Literatur
    Scope: Online-Ressource
    Notes:

    In: Sonderforschungsbereich 649: Ökonomisches Risiko, Band 2005, Ausgabe 27, 2005
  10. Data uncertainty and the role of money as an information variable for monetary policy
    Author: Coenen, Günter; Levin, Andrew T.; Wieland, Volker
    Published: 2003
    Publisher:  Univ.-Bibliothek Frankfurt am Main, Frankfurt am Main

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  11. Price stability and monetary policy effectiveness when nominal interest rates are bounded at zero
    Author: Coenen, Günter; Orphanides, Athanasios; Wieland, Volker
    Published: 2003
    Publisher:  Univ.-Bibliothek Frankfurt am Main, Frankfurt am Main

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    Media type: Book
    Format: Online
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    RVK Categories: QB 910 ; QB 910
    DDC Categories: 330; 380; 650; 670
    Series: Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 2003,13
    Subjects: Geldpolitik; Zins; Preisstabilität; Liquiditätspräferenztheorie; Inflation Targeting; Schätzung
    Other subjects: (stw)Geldpolitik; (stw)Zins; (stw)Preisstabilität; (stw)Liquiditätspräferenz; (stw)Inflationssteuerung; (stw)Schätzung; (stw)USA; inflation targeting; price stability; monetary policy rules; liquidity trap; Arbeitspapier; Graue Literatur
    Scope: Online-Ressource
  12. Did the Bundesbank follow a Taylor rule? An analysis based on real-time data
    Author: Clausen, Jens R.; Meier, Carsten-Patrick
    Published: 2003
    Publisher:  Kiel Institute for the World Economy (IfW), Kiel

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/3045
    RVK Categories: QD 000 ; QD 000
    DDC Categories: 330; 380; 650; 670
    Series: Kiel Working Paper ; 1180
    Subjects: Taylor-Regel; Geldpolitik; Schätzung; :z Geschichte 1973-1998
    Other subjects: (stw)1973-1998; (stw)Taylor-Regel; (stw)Geldpolitik; (stw)Schätzung; (stw)Deutschland; jel:E32; jel:E52; German real-time data; output gap; monetary policy rules; Taylor-Regel (STW); Geldpolitik (STW); Schätzung (STW); Deutschland (STW); Arbeitspapier; Graue Literatur
    Scope: Online-Ressource
  13. Inflation targeting under imperfect knowledge
    Author: Orphanides, Athanasios; Williams, John C.
    Published: 2006
    Publisher:  Div. of Research & Statistics and Monetary Affairs, Federal Reserve Board, Washington, DC

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    W 966 (2006.20)
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Print
    Series: Finance and economics discussion series ; 2006-20
    Subjects: Inflationssteuerung; Lernprozess; Natürliche Arbeitslosenquote; Rationale Erwartung; Geldpolitik; Regelbindung versus Diskretion; USA
    Other subjects: Array
    Scope: 46 S., graph. Darst.
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  14. Drifting inflation targets and monetary stagflation
    Author: Khan, Shujaat; Knotek, Edward S.
    Published: 2014
    Publisher:  Federal Reserve Bank of Cleveland, Cleveland, Ohio

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Language: English
    Media type: Book
    Format: Online
    Series: Working paper / Federal Reserve Bank of Cleveland ; 1426
    Subjects: stagflation; inflation; time-varying inflation target; monetary policy rules; imperfect information
    Scope: Online-Ressource (41 S.), graph. Darst.
  15. Monetary policy and bubbles
    in a new Keynesian model with overlapping generations
    Author: Galí, Jordi
    Published: March 2017
    Publisher:  Universitat Pompeu Fabra, Department of Economics and Business, Barcelona

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    Series: Economics working paper series / Universitat Pompeu Fabra, Department of Economics and Business ; no. 1561
    Subjects: monetary policy rules; stabilization policies; asset price volatility; economic fluctuations
    Scope: 1 Online-Ressource (circa 51 Seiten), Illustrationen
  16. Monetary policy and bubbles in a new Keynesian model with overlapping generations
    Author: Galí, Jordi
    Published: March 2017
    Publisher:  GSE, Graduate School of Economics, Barcelona

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Barcelona GSE working paper series ; no 959
    Subjects: monetary policy rules; stabilization policies; asset price volatility; economic fluctuations
    Scope: 1 Online-Ressource (circa 51 Seiten), Illustrationen
  17. Revisiting monetary policy objectives and strategies
    international experience and challenges from the ELB
    Author: Cecioni, Martina; Grasso, Adriana; Notarpietro, Alessandro; Pisani, Massimiliano
    Published: [2021]
    Publisher:  Banca d'Italia, [Rom]

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    Source: Union catalogues
    Language: English
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    Series: Questioni di economia e finanza / Banca d'Italia ; number 660 (December 2021)
    Subjects: central banking; monetary policy rules; effective lower bound
    Scope: 1 Online-Ressource (circa 33 Seiten), Illustrationen
  18. Exploring the role of exchange rate in inflation targeting
    evidence from Thailand
    Author: Pongsak Luangaram; Nipit Wongpunya
    Published: [2022]
    Publisher:  [Puey Ungphakorn Institute for Economic Research], [Bangkok]

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    Series: Discussion paper / Puey Ungphakorn Institute for Economic Research ; no. 179 (May 2022)
    Subjects: small open economy models; monetary policy rules; exchange rates; Bayesian analysis; Thai economy
    Scope: 1 Online-Ressource (circa 26 Seiten), Illustrationen
  19. Fiscal stimulus under average inflation targeting
    Author: Liu, Zheng; Miao, Jianjun; Su, Dongling
    Published: November 9, 2022
    Publisher:  Federal Reserve Bank of San Francisco, [San Francisco, CA]

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    Series: Working papers series / Federal Reserve Bank of San Francisco ; 2022, 22 (November 2022)
    Subjects: Average inflation targeting; fiscal multiplier; monetary policy rules; fiscal policy rules; DSGE model
    Scope: 1 Online-Ressource (circa 48 Seiten), Illustrationen
  20. Monetary policy rules and the effective lower bound in the Euro area
    Author: Haavio, Markus; Laine, Olli-Matti
    Published: 8 April 2021
    Publisher:  Bank of Finland, Helsinki

    We analyze the economic performance of di§erent monetary policy strategies, or rules, in a low interest rate environment, using simulations with a DSGE model which has been estimated for the euro area. We study how often the e§ective lower bound of... more

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    We analyze the economic performance of di§erent monetary policy strategies, or rules, in a low interest rate environment, using simulations with a DSGE model which has been estimated for the euro area. We study how often the e§ective lower bound of interest rates (ELB) is likely to bind, and how much forgone monetary policy accommodation this entails. Macroeconomic outcomes are measured by the mean levels and the volatility of output (gaps), unemployment and ináation. We present three sets of results. First, the macroeconomic costs of the ELB are likely to grow in a non-linear manner if the monetary policy space (the di§erence between the normal, or average, level of nominal interest rates and the ELB) shrinks. Second, a point ináation target appears to outperform a target range. Third, the (relative) performance of low-for-long (L4L) monetary policy rules depends on the size of the monetary policy space. The L4L rules tend to perform well, if the monetary space is small, but if the space is larger these rules, while stabilizing ináation, may lead to more volatility in the real economy than áexible ináation targeting.

     
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    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789523233713
    Other identifier:
    hdl: 10419/240345
    Series: Bank of Finland research discussion papers ; 2021, 5
    Subjects: monetary policy rules; effective lower bound; euro area
    Scope: 1 Online-Ressource (circa 33 Seiten), Illustrationen
  21. Time-varying parameters in monetary policy rules
    a GMM approach
    Author: Anderl, Christina; Caporale, Guglielmo Maria
    Published: May 2023
    Publisher:  CESifo, Munich, Germany

    This paper assesses time variation in monetary policy rules by applying a Time-Varying Parameter Generalised Methods of Moments (TVP-GMM) framework. Using monthly data until December 2022 for five inflation targeting countries (the UK, Canada,... more

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    This paper assesses time variation in monetary policy rules by applying a Time-Varying Parameter Generalised Methods of Moments (TVP-GMM) framework. Using monthly data until December 2022 for five inflation targeting countries (the UK, Canada, Australia, New Zealand, Sweden) and five countries with alternative monetary regimes (the US, Japan, Denmark, the Euro Area, Switzerland), we find that monetary policy has become more averse to inflation and more responsive to the output gap in both sets of countries over time. In particular, there has been a clear shift in inflation targeting countries towards a more hawkish stance on inflation since the adoption of this regime and a greater response to both inflation and the output gap in most countries after the global financial crisis, which indicates a stronger reliance on monetary rules to stabilise the economy in recent years. It also appears that inflation targeting countries pay greater attention to the exchange rate pass-through channel when setting interest rates. Finally, monetary surprises do not seem to be an important determinant of the evolution over time of the Taylor rule parameters, which suggests a high degree of monetary policy transparency in the countries under examination.

     
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    Source: Union catalogues
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    Other identifier:
    hdl: 10419/279200
    Series: CESifo working papers ; 10451 (2023)
    Subjects: Taylor rules; monetary policy rules; Generalised Methods of Moments; Time-varying parameters
    Scope: 1 Online-Ressource (circa 49 Seiten), Illustrationen
  22. R-Star
    a new approach to estimate the polar star of monetary policy
    Author: Bofinger, Peter; Haas, Thomas
    Published: 04 September 2023
    Publisher:  Centre for Economic Policy Research, London

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    Location:
    Universitätsbibliothek Mannheim
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Array ; DP18420
    Subjects: Neutral rate of interest; equilibrium real interest rate; monetary policy rules
    Scope: 1 Online-Ressource (circa 31 Seiten), Illustrationen