Monetary policy
MONETARY POLICY WHERE TO?
... the monetary policy, the debts that once seemed bearable become ...the monetary stability affects the financial stability, and vice ...the monetary stability favor the financial stability, as ...
8
Monetary policy, default risk and the exchange rate
... Theoretically, such effect should not be found in countries with lower real interest rates and less debt problems. In Chile, for example, debt is only around 12% of GDP and real interest rates have been around to 2% per ...
17
Robust monetary policy with the consumption - wealth channel
... With persistent shocks, the effect of the shock itself and monetary policy actions taken today may have repercussions in the future. An adverse cost shock today, due to persistence, may ignite a string of ...
28
Heterogeneous expectations, optimal monetary policy and the merit of policy inertia
... optimal monetary policy designed under heterogeneous expecta- tions in a setting in which the central bank implements the optimal stance via an expectations-based reaction ...
32
Tayloring Brazil: a system dynamics model for monetary policy feedback
... Motivated by the ongoing credit boom, the BCB later on evaluated the role of bank capital requirements in a large new Keynesian model with a range of agents [Agénor et al., 2011]. Meanwhile, the BCB had been aiming at ...
92
António Afonso, Raquel Balhote Interactions between Monetary Policy and Fiscal Policy
... Regarding monetary policy, the Maastricht Treaty, besides the similar, but smaller effect of the SGP and of the introduction of the Euro, is related to a sharp decline in short-term interest rate of ...on ...
31
Monetary policy in a credit-in-advance economy
... (no monetary policy ...a monetary economy, it is capable of reproducing the key results that the King, Plosser and Rebelo (1988) paper is able to ...
41
Liquidity, Business Cycles and Monetary Policy: a Simulation
... In Kiyotaki and Moore (2008) the authors develop a model in which di¤erences in the liquidity of distinct assets create a link between asset prices and macroeconomic aggregates. Their goal is to build a work- horse model ...
58
Unconventional Monetary Policy in the Euro Zone
... England’s Monetary Policy Committee (MPC) cut interest rates by 3 percentage points during 2008 Q4 and another ...the Monetary Policy Committee (MPC) voted to increase total asset purchases to ...
21
MACROECONOMIC EFFECTS OF MONETARY POLICY IN THE EUROZONE
... which monetary policy is designed, initial effects are also negative; I find enough evidence to validate the estimated shocks as conventional monetary shocks and thereby, proceed with the estimation ...
27
Monetary policy monitor, ano 2, nº 1, march 2014
... a monetary phenomenon and monetary policy cannot affect real variables in a permanent ...traditional policy instrument of the IT regime (the interest rate) would continue being managed to ...
40
Monetary policy monitor, ano 1, nº 2, september 2013
... that monetary policy did not become totally ineffective, in recent years, as a radical interpretation of this reasoning would ...of monetary stimulus already given, in several countries, and the ...
30
Monetary policy strategy before and after the crisis
... The issue is an old one, as already noted. In essence, it is necessary to bear in mind that during a self-reinforcing cycle of optimism and credit expansion a large number of market participants expect to obtain quite ...
29
On the distributive impact of unconventional monetary policy
... unconventional monetary policy might affect differently those that depend mostly on income from labor and invest only on more traditional assets (workers), from those that have a higher share of their ...
39
Monetary policy monitor, ano 3, nº5, April 2015
... new monetary policy was received in ...the monetary base to GDP ratio was already considerably higher in Japan than in countries which had gone through comparable experiences (the US, the UK and the ...
43
Conservatism and rigidity in monetary policy.
... of monetary policy after the adop- tion of inflation ...of monetary policy is related to two distinct features of BCB’s reaction function: i) the great weight of autoregressive components; ...
20
Monetary policy and country risk
... Reserves may play an important role in determining risk for two reasons: the first regards a fixed exchange rate scenario (as demonstrated by Andrade and Teles, 2005) in which a drop in reserves would mean an increase in ...
17
Some benefits of cyclical monetary policy
... of monetary policy is a broad topic with voluminous con- tributions, it is important to relate our model to some well known papers up front, so as to highlight the particular debt our work owes to this ...
32
Optimal monetary policy under administered prices
... any monetary policy that will stabilize the inflation rate after a preference or technology shock, will also stabilize the output gap, when price stickiness is ...of policy makers because, in ...
117