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The Role of Transparency in the Conduct of Monetary Policy

Minegishi, Makoto; Cournède, Boris - Economics Department, Organisation de Coopération et … - 2009

la transparence dans la conduite de la politique monétaire<BR>À rebours des habitudes de secrets et d’opacité qui ont pu … prévaloir par le passé, la transparence constitue désormais un moyen essentiel de mise en œuvre de la politique monétaire. Une … transparence. Les résultats empiriques sont cohérents avec l’hypothèse selon laquelle la transparence contribue à l’efficacité de …

Persistent link: https://www.econbiz.de/10008498035

Deflation and Japan Revisited

Johnsson, Richard C.B. - Ratioinstitutet - 2003

Deflation counts among the worst things that could happen to an economy, the conventional wisdom tells us. But are falling prices really that bad? According to the Austrian School of Economics, this is not necessarily the case. A distinction is commonly made between (1) growth, (2)...

Persistent link: https://www.econbiz.de/10005419166

Will China Have Serious Inflation?

Chow, Gregory C. - Griswold Center for Economic Policy Studies, Department … - 2010

There has been much concern about inflation in China recently. The People’s Bank in the last few months has raised the reserve requirement several times to control the money supply to slow down inflation. In 1985 when I was organizing a summer workshop on macroeconomics in cooperation with the...

Persistent link: https://www.econbiz.de/10011149983

¿Responde el Banco de la República a los movimientos en la tasa de cambio real?

Saavedra, Egberto Alexander Riveros - In: ENSAYOS SOBRE POLÍTICA ECONÓMICA (2012)

Para los bancos centrales con régimen de inflación-objetivo modificar la tasa de interés de política monetaria como respuesta a la apreciación de la tasa cambio puede poner en riesgo el cumplimiento de la meta de inflación. Este trabajo determina qué tan importante ha sido el...

Persistent link: https://www.econbiz.de/10011152868

Credit, Financial Stability, and the Macroeconomy

Taylor, Alan M. - C.E.P.R. Discussion Papers - 2015

Since the 2008 global financial crisis, and after decades of relative neglect, the importance of the financial system and its episodic crises as drivers of macroeconomic outcomes has attracted fresh scrutiny from academics, policy makers, and practitioners. Theoretical advances are following a...

Persistent link: https://www.econbiz.de/10011213304

The Return of the Original Phillips curve? An Assessment of Lars E. O. Svensson's Critique of the Riksbank's Inflation Targeting, 1997-2012

Andersson, Fredrik N. G.; Jonung, Lars - Nationalekonomiska Institutionen, Ekonomihögskolan - 2014

We examine Lars E O Svensson's prominent critique of the monetary policy of the Sveriges Riksbank (the Swedish central bank) from 1995-2012. Our main objection concerns Svensson's conclusion that the original pre-Friedman/Phelps version of the Phillips curve based on constant inflation...

Persistent link: https://www.econbiz.de/10011019080

F.A. Hayek and his rational choice of monetary arrangements

Sahoo, Ganeswar - Volkswirtschaftliche Fakultät, … - 2012

This paper addresses the perspective of Hayek’s doctrine on monetary arrangements in the economy and his favorable argument for an international central bank over national central bank. I also discussed Hayek’s view on free banking (i.e. for the free issue of bank notes) that would enable...

Persistent link: https://www.econbiz.de/10011260508

Floating Exchange Rate Regime

Quader, Syed Manzur - Volkswirtschaftliche Fakultät, … - 2004

In recent years, many developing countries having a history of high inflation, unfavorable balance of payment situation and a high level of foreign currencies denominated debt, have switched or are in the process of switching to a more flexible exchange rate regime. Therefore, the stability of...

Persistent link: https://www.econbiz.de/10008871293

The crisis and beyond: Thinking outside the box

Hillinger, Claude - In: Economics - The Open-Access, Open-Assessment E-Journal 4 (2010), pp. 1-61

In this paper the author attempts an analysis of the current financial/economic crisis that is wider ranging and more fundamental than he has been able to find. He discusses alternatives to the financial bailouts and shows how the crisis could have been dealt with more efficiently and at little...

Persistent link: https://www.econbiz.de/10008611434

Inflation targeting and private sector forecasts

Cecchetti, Stephen; Hakkio, Craig S. - National Bureau of Economic Research (NBER) - 2009

Transparency is one of the biggest innovations in central bank policy of the past quarter century. Modern central bankers believe that they should be as clear about their objectives and actions as possible. However, is greater transparency always beneficial? Recent work suggests that when...

Persistent link: https://www.econbiz.de/10008631102

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