From Hurricane Irma to the Grindavík eruptions: volatility premiums in disaster governance. [PDF]
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Distributed battery-free bioelectronic implants with improved network power transfer efficiency via magnetoelectrics. [PDF]
Woods JE +16 more
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Monetary rules and the nominal rate of interest under uncertainty
Journal of Monetary Economics, 1980Abstract The expected real rate of return on a nominal bond is shown to be equal to the real rate of interest plus a premium for systematic purchasing power risk. The particular monetary rule employed by the central monetary authority affects the entire joint distribution of inflation and aggregate real wealth. Thus, the monetary authority is able to
Robert H Litzenberger
exaly +2 more sources
Optimal monetary policy rules in a two-country economy with a zero bound on nominal interest rates
North American Journal of Economics and Finance, 2013Abstract This paper investigates optimal monetary policy rules when two large countries simultaneously face non-negativity constraints on nominal interest rates. Under policy coordination, domestic optimal monetary policy rules depend on domestic endogenous variables, foreign inflation, and domestic and foreign policy rates when the zero lower bound ...
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The optimal monetary policy rule under the non-negativity constraint on nominal interest rates [PDF]
zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Tomohiro Sugo, Yuki Teranishi
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Using a nominal GDP rule to guide discretionary monetary policy [PDF]
Given doubts about the reliability of the monetary aggregates as intermediate targets of monetary policy, the Federal Reserve attempts to meet its dual goals--gradual reduction of inflation and mitigation of cyclical downturns in output--through purely discretionary adjustments of an interest rate instrument in response to myriad incoming data.
John P. Judd, Brian Motley
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Welfare Effects of Monetary Policy Rules in a Model with Nominal Rigidities and Credit Market Frictions [PDF]
This paper evaluates monetary policy rules in a business cycle model with staggered prices and wage setting a la Calvo and asymmetric information in the credit market. Rules are compared in a utility based welfare metric, the effects of the model’s nonlinear dynamics are captured by a quadratic approximation to the policy function.
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Estimating monetary policy rules when the zero lower bound on nominal interest rates is approached
2014Monetary policy rule parameters estimated with conventional estimation techniques can be severely biased if the estimation sample includes periods of low interest rates. Nominal interest rates cannot be negative, so that censored regression methods like Tobit estimation have to be used to achieve unbiased estimates.
Kiesel, Konstantin, Wolters, Maik H.
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Monetary policy rules and zero lower bound on nominal interest rates in a cost-channel economy
Economic Modelling, 2022openaire +1 more source

