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Veterans' Donations of Research Incentives to Fellow Veterans.
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Managing Monetary Policy Normalization
SSRN Electronic Journal, 2022We propose a new framework for monetary policy analysis to study monetary policy normalization when exiting a liquidity trap. The optimal combination of reserves and interest rate policy requires an increase in liquidity (reserves) a few quarters after the policy rate is set at the effective lower bound.
Benigno, Gianluca, Benigno, Pierpaolo
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RECONCILING MONETARY MANAGEMENT AND DEBT MANAGEMENT POLICIES
The Journal of Finance, 1950A MAJOR POSTWAR economic issue has been the difficulty of reconciling monetary management and debt management policies. After five years of disagreements and public dispute, a subcommittee of the Joint Congressional Committee on the Economic Report sought to examine the issues exhaustively and to resolve them.' During the course of its hearings it ...
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Monetary management in a monetary union
European Economic Review, 1991Abstract The design and implementation of monetary policy in the EMU raises a number of difficult conceptual issues, though less complex than those of the transition. The Delors Report (1989) addressed three issues, in particular: (1) the appropriate mandate for the European system of Central Banks (ESCB): (2) the relationship of the ESCB to national
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Monetary Policy Interactions under Managed Exchange Rates
Economica, 1989This paper studies a two-country monetary system where one country sets its money stock, but gives up control of the exchange rate, and the other country gives up control of its own money stock, but can set the exchange rate independently. Cournot-Nash equilibria under managed rates differ significantly from those under fixed or floating rates.
Giavazzi, Francesco, Giovannini, Alberto
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From Monetary Manager to Crisis Manager: Systemic Change and the International Monetary Fund
1993Twenty years ago, Susan Strange contributed a path breaking chapter to The Anatomy of Influence, a classic volume in the field of international organisation (Strange, 1973). The chapter presented the first objective analysis of the politics of policy making in the International Monetary Fund.
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