Monetary policy rule
Microfoundations of a Monetary Policy Rule, Poole's Rule
... a monetary policy rule with Microfoundations, Poole`s Rule is ...such rule based on a loss function that a Central Bank has as its ...a rule that they call the “Taylor`s ...
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Monetary policy rule and its performance under inflation targeting: the evidence of Thailand
... The policy reaction function is one of the useful analytical tools to describe a monetary policy rule in practices managed by a central ...nominal policy interest rate in response to ...
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Estimating a Monetary Policy Rule for India
... Taylor-type rule. We estimate an exchange rate-augmented Taylor rule for India over the period 1980Q1 to 2008Q4, allowing for potential structural shifts between the pre- and post-liberalization periods in ...
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Monetary policy rule under inflation targeting: the case of Mongolia
... ahead) monetary policy rule under its inflation targeting ...real policy rate tends to be still pro- cyclical to inflation ...the policy rate is not the only instrument but often ...
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Identifying the adopted Monetary Policy Rule by the Central Bank of Iran
... optimal monetary policy by the central bank in Iran’s economy, which is heavily dependent on oil revenues, is of great ...of monetary policy rules by considering the exchange rate in ...
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Inflation Targeting As a Monetary Policy Rule: Experience and Prospects
... Our work has shown shortcomings. The regime of inflation targeting based on certain institutional conditions (such as the independence of the Central Bank and solid performance systems, and stable economic structures ...
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Inflation targeting and the pass through effect: The case of Mongolia
... “forward-looking” monetary policy rule in Mongolian inflation targeting, so that it can work on the expectations of domestic agents such that they are less inclined to change prices in response to a ...
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Monetary Policy Rules and Directions of Causality: a Test for the Euro Area
... on monetary policy can be interpreted in terms of a “monetary policy rule”, with specific reference to the so-called “nominal GDP targeting rule” (McCallum 1988; Hall and Mankiw ...
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Aggregate Stability in Monetary Economy with Consumption Tax and Taylor Rule
... basic monetary model in Xue and Yip (2013), who assume the constant-return production technology by capital and la- bor; the cash-in-advance (CIA) constraint whereby money balances bind to the expenditures of ...
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Asymmetric Labour Markets in a Converging Europe: Do differences matter? ENEPRI Working Paper No. 2, January 2001
... of monetary policy (a 5% increase in the money supply) applied to the three versions of the ...different monetary policy rules: (i) targeting of nominal GDP, (ii) targeting a combination of ...
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Policy Rule Coefficients Driven by Latent Factors: Monetary and Fiscal Policy Interactions in an Endowment Economy
... that monetary policy has reacted strongly with respect to ...that policy has been ...the monetary policy rule coefficient during the 1970s and early ...1979:1-1981:3 ...
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DETERMINATION OF THE IMPACT OF OPTIMAL RATE OF GROWTH OF THE MONEY SUPPLY WITH THE MAIN MACROECONOMIC INDICATORS
... of monetary policy is the instability of the demand for money due to shocks, which partly determines the priority of central banks use as a tool of monetary policy interest rate (Akimov & ...
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(7) Monetary Policy Analysis with Optimal Simple Rules.pdf
... This section follows the derivations in Gali chapter 4. However, the focus of the document is on defining a simple monetary policy rule concerning model (1): namely, an interest rate rule. Due ...
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Examining monetary policy reaction in the People’s Republic of China – a Markov switching policy index approach
... Chinese monetary policy rule was carried out by Lu and Shu ...Taylor rule by estimating a model with drifting ...Chinese monetary policy framework (Goodfriend and Prasard ...
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Heterogeneous expectations, Taylor rules and the merit of monetary policy inertia
... a monetary policy rule featuring feedback on heterogeneous expectations, it may at least be able to rule out explosive paths of nominal ...
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Disentanglement of natural interest rate shocks and monetary policy shocks nexus
... with policy rate hike in response to exchange rate ...endogenous monetary policy is the following. Central bank hikes policy rate in response to inflation increase, exchange rate ...to ...
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MONETARY POLICY RULES AND MACROECONOMIC STABILITY: EVIDENCE FROM SRI LANKA
... (1993) rule, which defines monetary policy based on the deviations of output and inflation from their respective targets, is a popular benchmark for assessing the monetary policy stance ...
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Asymmetric monetary policy rules for open economies: Evidence from four countries
... optimal monetary policy rule of a central bank in an open economy framework while we allow for asymmetric prefer- ences such that the policy makers can weigh positive and negative deviations ...
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An Augmented Taylor rule for India’s Monetary Policy: Does Governor Regime Matters?
... Interestingly, the coefficient of output gap is not a major concern during the Y V Reddy(2003M9 to 2008M8) regime. In this regime, primary focus has to achieve low and stable inflation rate.The coefficient of inflation ...
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AN EMPIRICAL ANALYSIS OF THE TRANSPARENCY OF MONETARY POLICY IN THE WEST AFRICAN MONETARY ZONE
... Monetary policy transparency holds particular significance for developing countries where misperceptions and lack of knowledge about monetary policy issues and outcomes are not ...what ...
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