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Monetary Policy as Financial-Stability Regulation [PDF]
This paper develops a model that speaks to the goals and methods of financial-stability policies. There are three main points. First, from a normative perspective, the model defines the fundamental market failure to be addressed, namely that unregulated ...
Jeremy C. Stein
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Monetary Policy Strategy: Lessons from the Crisis [PDF]
This paper examines what we have learned and how we should change our thinking about monetary policy strategy in the aftermath of the 2007-2009 financial crisis.
Frederic S. Mishkin
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Monetary Policy Repport - October 2019
, 2020 Monetary Policy in Colombia As per its constitutional mandate, Banco de la República must ensure that the purchasing power of the currency is maintained in coordination with the general economic policy.
Office of the Deputy Technical Governor +26 more
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The effectiveness of monetary policy [PDF]
This analysis addresses changing views of the role and effectiveness of monetary policy, inflation targeting as an "effective monetary policy," monetary policy and short-run (output) stabilization, and problems in implementing a short-run stabilization ...
Marcela M. Williams, Robert H. Rasche
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Monetary policy and asset prices [PDF]
Despite the low inflation of recent years, some observers have wondered whether rapid gains in U.S. asset prices foreshadow rising inflationary pressures. Would U.S.
Andrew J. Filardo
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Optimal Monetary Policy, Commitment, and Imperfect Credibility [PDF]
In the conventional optimal monetary policy framework, two key assumptions underline the full commitment solution : Monetary authority is perfectly credible, and can commit for an infinite number of periods.
A. Hakan Kara
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Monetary Policy in an Economy Sick with Dutch Disease [PDF]
The paper studies monetary policy in an economy, in which the manufacturing sector is ousted completely by the presence of a large natural resource industry.
Oleg Zamulin, Kirill Sosunov
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Monetary policy and the U.S. housing market: A VAR analysis imposing sign restrictions [PDF]
This article examines the impact of monetary policy shocks on the U.S. housing market using an identification procedure similar to the one suggested by Uhlig (Journal of Monetary Economics, 2005). The identification procedure imposes sign restrictions on
Carlos Vargas-Silva
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Role of financial markets in monetary policy [PDF]
For central banks, it is very important to know what economic agents, and more specifically financial market participants, think about monetary policy. Consequently, understanding financial market information represents an essential aspect of the MNB’s ...
Anna Delikát
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