Monetary policy and welfare
Monetary Policy and Welfare in a Small Open Economy
... of welfare allows for a precise qualitative analysis of monetary policy in a small open ...of monetary policy targets. Therefore, the policy prescription in a small open economy ...
52
Imperfect Competition, Monetary Policy and Welfare in a Currency Area
... of welfare and monetary policy, of unequal degrees of competition across members of a currency ...affect welfare in a currency ...the monetary union; the other is through different ...
68
On the Welfare Costs of Monetary Policy
... of monetary policy changes on the welfare in the ...the welfare costs respond symmetrically to a rise and a decline in trend inflation, trend growth and the level of volatility of output, ...
44
International Welfare Effects of Monetary Policy
... Introduction Monetary policies of the ...a monetary expansion after the 2001 recession, which lowered the short-term nominal interest rate in 2003, at a time when output may have been quite close to its ...
34
Macroprudential and monetary policy rules: a welfare analysis
... and monetary policies using a dynamic stochastic general equilibrium ...savers. Monetary policy is conducted following a Taylor rule for the interest ...macroprudential policy is represented ...
31
Macroprudential and monetary policy rules: a welfare analysis
... macroprudential policy to the monetary policy and its supportive role as a built- in ...the monetary policy can be supported by countercyclical prudential ...and monetary ...
32
Monetary policy and Tobin taxes: a welfare analysis
... We welfare-rank two simple rules, namely …xed exchange rate (PEG) and in‡ation target- ing (IT), by identifying the rule that in terms of welfare is closest to the optimal monetary policy ...
17
Keeping Up with the Joneses and the Welfare Effects of Monetary Policy
... the welfare e¤ects of monetary policy over time, using a simple New Keynesian model in which the central bank follows the Taylor rule and households have the desire to keep up with the ...overall ...
18
Optimal simple monetary policy rules and welfare in a DSGE Model for Hungary
... rigidities, monetary policy has real effects and can therefore influence ...the policy rate, monetary policy can offset variations in the marginal cost, and therefore eliminate ...
41
The Welfare Consequences of Monetary Policy and the Role of the Labor Market: a Tax Interpretation
... the welfare loss from search inefficiencies is large under the flexible price ...for monetary policy to improve on the allocation that would obtain by fully stabilizing ...large, monetary ...
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Beggar-thyself or beggar-thy-neighbour? The welfare effects of monetary policy
... etary policy is beggar-thy-neighbour or beggar-thyself, within the context of a standard open-economy model with imperfect competition and nominal ...of welfare, an approach which misses the potentially ...
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Beggar-thyself or beggar-thy-neighbour? The welfare effects of monetary policy
... etary policy is beggar-thy-neighbour or beggar-thyself, within the context of a standard open-economy model with imperfect competition and nominal ...of welfare, an approach which misses the potentially ...
21
Welfare-based monetary policy rules in an estimated DSGE model of the US economy
... formal welfare analysis using higher-order ...simple policy rule that maximizes the unconditional mean of ...for monetary policy would have avoided the double-digit rates of in‡ation of the ...
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A welfare perspective on the fiscal-monetary policy mix: The role of alternative fiscal instruments
... world policy environment, fiscal policy targets the accumulation of public debt, by increasing (decreasing) tax rates (government spending) in response to fiscal ...based monetary policy in a ...
46
Welfare-Based Optimal Monetary Policy in a Two-Sector Small Open Economy
... the monetary policy design ...for welfare, but so does the devi- ation of the relative price from its target ...in welfare gains from exchange rate ...additional welfare effects that ...
54
Monetary policy and welfare in a currency union
... the welfare gains from being in a currency union? I explore this question in the context of a dynamic stochastic general equilibrium model with monetary barriers to trade, local currency pricing and ...
42
Welfare Improving Coordination of Fiscal and Monetary Policy
... independent monetary and fiscal policies coordinate their actions and/or tar- gets? To examine this question the paper considers a simple reduced-form model in which mone- tary and fiscal policies are formally ...
20
Monetary policy, incomplete asset markets, and welfare in a small open economy
... the welfare level in an economy in the DI Taylor case deteriorates further compared to that in the Peg ...the welfare in the DI Taylor case deteriorates further than the Peg case, and the superiority of the ...
12
Welfare Reversals in a Monetary Union
... the welfare difference implied by alternative financial markets structures in a richer two-country model ` a la Smets and Wouters ...shocks, monetary policy and inflation target ...the welfare ...
47
Welfare Effect of Monetary Financing
... fiscal policy with high public deficits, low tax ratios, and monetary financing ...and monetary policy is made to keep it under control (Christiano & Fitzgerald,2000), and the condition of ...
13