Speci cations for the optimal policy rule
The Optimal Instrument Rule of Indonesian Monetary Policy
... instrument rule are the well-known Taylor rule and McCallum ...Instrument rule in this paper is constructed by applying mathematical model which is then tested empirically by using econometric ...the ...
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Financial Instability and Optimal Monetary Policy Rule
... an optimal monetary policy literature for an open economy where the real exchange rate plays an important role in the ...the optimal monetary policy rule with respect to one of the ...
27
Policy-Speci c Information and Informal Agenda Power
... is policy-speci…c our results are quite di¤erent. The speci…city of valence protects the committee from expropriation regardless of the rule, and the e¤ect of this protection is ...closed ...
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BUDGET POLICY AND ECONOMIC GROWTH IN RUSSIA OPTIMAL BUDGET RULE
... than optimal level in ...monetary policy allows to prevent unwinding of the inflation spiral and runs the growth ...fiscal policy is a consequence of budget rule mechanism features, which do ...
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Cross-Checking Optimal Monetary Policy with Information from the Taylor Rule
... an optimal value of around 015 for which the welfare loss is ...Taylor rule, however, sharply increases the welfare loss in this ...Taylor rule requires a strong interest rate response to in fl ...
23
Looking for an Optimal Monetary Policy Rule: The Case of Poland under IT Framework
... Foreign private debt restructuring in 1994 as well as the resolution of bad debts problem in the domestic banking system significantly lowered the country risk and induced a large capital inflow. This in turn resulted in ...
35
Hopf Bifurcation from new Keynesian Taylor rule to Ramsey Optimal Policy
... from optimal policy under …nite horizon commitment to new-Keynesian Taylor rule with positive Taylor rule parameters corresponds to a Hopf bifurcation in the new-Keynesian ...Taylor ...
25
Essays on optimal monetary policy under rule-of-thumb behaviour by price setters
... …nds optimal to induce a rise in the real interest rate without having to rely on costly movements in the rate of ...Ramsey-optimal policy is to raise nominal interest rates by more or less the same ...
208
Optimal Fiscal Policy Rule for Achieving Fiscal Sustainability: A Japanese Case Study
... of Japan. They found that the emergence of even a small risk premium on government debt will trigger significant instability in the real and nominal variables. Yoshino and Mizoguchi (2013a) investigated the features of ...
20
Hopf Bifurcation from new-Keynesian Taylor rule to Ramsey Optimal Policy
... speci…c about the set of model the evil agent can choose (that is, the type of misspeci…cation feared), by imposing that he sets his instruments as a linear function of predetermined ...Taylor rule leads ...
23
The Optimal Monetary Rule for the Slovak Republic
... the Optimal Monetary Rule in the Slovak Republic Monetary rules can be divided into two basic groups; forward-looking and backward-looking ...monetary policy instrument will op- erate only in the ...
9
Microfoundations of a Monetary Policy Rule, Poole's Rule
... monetary policy rules should allow temporary deviations from the long-term money supply path to compensate prognosis errors of interest ...rate rule will not be a product stabilizing ...
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Financial stability, target inflation as a monetary rule and concepts of money policy: Implications for the optimal analysis
... monetary policy strategy is linked to its ability to define and to announce clear objectives with a guide to expectations of economic agents and the market ...monetary policy on inflation, monetary ...
22
Optimal negligence rule under limited liability
... legal policy instruments related to the problem, such as awarding punitive damages and mandating or prohibiting the purchase of liability insurance to engage in potentially harmful ...
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The Optimal Tax Rule in the Presence of Time Use
... designing optimal tax system and derive the optimal tax rule under this ...an optimal tax perspective, the magnitude of elasticity of substitution is ...
36
Optimal policy and Taylor rule cross-checking under parameter uncertainty : [Version 26 September 2013]
... Taylor rule cross-checking represented by the relative ...Taylor rule cross- checking and such worst-case scenarios in ...Taylor- rule cross-checking (when λ ∆ > 0) and vice ...
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Optimal Policy Projections
... Taylor rule. 19 By construction, a Taylor-rule policy responds to the big picture of the economy, but eschews the judgment that is the subject of this pa- ...Taylor rule calls for an even ...
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Optimal monetary policy
... Productivity shocks: The same considerations are relevant for understand- ing dynamic responses to productivity. In figure 6, panel A, we see that the dynamic response to the productivity shock under a constant money ...
58
Optimal Monetary Policy
... 7.2 Optimal policy without money demand distortions In this section, we explore dynamic responses to productivity and government demand shocks in variants of our model with the money demand distortions ...
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Optimal Policy Projections
... Taylor rule. 19 By construction, a Taylor-rule policy responds to the big picture of the economy, but eschews the judgment that is the subject of this pa- ...Taylor rule calls for an even ...
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