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Greening monetary policy [PDF]
SSRN Electronic Journal, 2019 While there is increasing interest in decarbonizing or greening monetary policy, central banks are keen to maintain market neutrality. However, there is evidence that the market has a bias towards carbon-intensive companies.
D. Schoenmaker
semanticscholar +6 more sources
SSRN Electronic Journal, 2000 Summary: Optimal monetary policy maximizes the welfare of a representative agent, given frictions in the economic environment. Constructing a model with two sets of frictions --- costly price adjustment by imperfectly competitive firms and costly exchange of wealth for goods --- we find optimal monetary policy is governed by two familiar principles ...
Aubhik Khan +2 more
openaire +7 more sources
The Companion lays out a comprehensive history of the field and, in five additional parts, it explores public choice contributions to the study of the origins of the state, the organization of political activity, the analysis of decision-making in non-market institutions, the examination of tribal governance and to modeling and predicting the behavior ...
Leland B. Yeager, Steve H. Hanke
core +13 more sources
Measuring Monetary Policy [PDF]
The Quarterly Journal of Economics, 1995 Abstract: Extending the approach of Bernanke and Blinder (1992), Strongin (1992), and Christiano, Eichenbaum, and Evans (1994a, 1994b), we develop and apply a VAR-based methodology for measuring the stance of monetary policy. More specifically, we develop a "semi-structural" VAR approach, which extracts information about monetary policy from data on ...
Bernanke, Ben S., Mihov, Ilian
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Monetary Policy Uncertainty and Monetary Policy Surprises [PDF]
Finance and Economics Discussion Series, 2020 Monetary policy uncertainty affects the transmission of monetary policy shocks to longer-term nominal and real yields. For a given monetary policy shock, the reaction of yields is more pronounced when the level of monetary policy uncertainty is low.
Michiel De Pooter +3 more
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Can Food Inflation Be Stabilized By Monetary Policy? A Quantile Regression Approach
Journal of economic impact, 2022 Theoretically, a consistent and well-defined monetary policy can stabilize food inflation. However, empirical findings have reported both positive and negative effects of monetary policy measures on food inflation.
Choudary Ihtasham Ali +5 more
semanticscholar +1 more source
Risk Appetite and the Risk-Taking Channel of Monetary Policy
Journal of Economic Perspectives, 2023 Monetary policy affects financial markets and the broader economy in part by changing the risk appetite of investors. This article provides new evidence for this so-called risk-taking channel of monetary policy by revisiting and extending event-study ...
M. Bauer, B. Bernanke, Eric Milstein
semanticscholar +1 more source
A Reassessment of Monetary Policy Surprises and High-Frequency Identification
NBER macroeconomics annual, 2022 High-frequency changes in interest rates around FOMC announcements are an important tool for identifying the effects of monetary policy on asset prices and the macroeconomy.
M. Bauer, Eric T. Swanson
semanticscholar +1 more source
Monetary Policy Uncertainty [PDF]
International Finance Discussion Papers, 2017 We construct new measures of uncertainty about Federal Reserve policy actions and their consequences - monetary policy uncertainty (MPU) indexes. We show that, under a variety of VAR identification schemes, positive shocks to uncertainty about monetary policy robustly raise credit spreads and reduce output.
Lucas Husted, John Rogers, Bo Sun
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The impact of COVID-19 pandemic on transmission of monetary policy to financial markets
International Review of Financial Analysis, 2021 This study uses event-study methodology to estimate the impact of the COVID-19 pandemic on the transmission of monetary policy to financial markets, based on a sample of 37 countries with severe pandemics. Financial markets include government bond, stock,
Xiaoyun Wei, Liyan Han
semanticscholar +1 more source