The monetary policy rule
Microfoundations of a Monetary Policy Rule, Poole's Rule
... the monetary policy rule and its effectiveness depends on values of certain parameters can assume, essentially the elasticity of money demand with respect to changes in the interest rate, the income ...
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Financial Instability and Optimal Monetary Policy Rule
... optimal monetary policy literature for an open economy where the real exchange rate plays an important role in the ...optimal monetary policy rule with respect to one of the financial ...
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Monetary policy rule for China - 1994-2006
... regarding monetary policy attracts more and more attention in both academic and policy-making ...exogenous monetary policy shocks on real ...investigate monetary policy ...
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Unveiling the monetary policy rule in euro area
... euro-area monetary authorities mainly follow a strong anti-inflationary ...This policy can be described by a threshold monetary policy rule model which allows for distinct inflation ...
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Term Structure and the Estimated Monetary Policy Rule in the Eurozone
... These empirical results should be interpreted with caution for at least two reasons. First, like any other stochastic dynamic general equilibrium model, any version of the NKM model is likely to be misspecified in ...
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Monetary policy rule under inflation targeting: the case of Mongolia
... of policy reaction functions were as ...current monetary policy rule under inflation targeting is characterized as inflation-responsive rule with forward-looking manner (one quarter ...
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On the Informational Role of Term Structure in the U.S. Monetary Policy Rule
... ω = 0.75, corresponding to standard values assumed in the relevant literature for the discount factor, consumption intertemporal elasticity, the Frisch elasticity and Calvo’s probability, respectively. Moreover, ...
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Monetary policy rule and its performance under inflation targeting: the evidence of Thailand
... a policy reaction function, the study identified the inflation-responsive but backward-looking monetary policy rule for ...analyzed monetary policy implementation under the ...
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Estimating a Monetary Policy Rule for India
... Indian economy witnessed several structural changes over the sample period, as well as changes in conduct of monetary policy. Following a balance of payments crisis in 1991, a series of liberalization and ...
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Inflation Targeting as a Monetary Policy Rule
... for monetary aggregates is then to be one set of indicators among many, whose usefulness depend solely on their predictive power for future ...therefore monetary aggregates are likely to be of little ...in ...
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Inflation Targeting as a Monetary Policy Rule
... for monetary aggregates is then to be one set of indicators among many, whose usefulness depend solely on their predictive power for future ...therefore monetary aggregates are likely to be of little ...in ...
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An Optimized Monetary Policy Rule for ToTEM
... optimized policy rule prescribes putting no weight on the lagged interest ...the monetary authority puts a weight on interest rate variability in its loss function, the coefficient on the lagged ...
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Estimating the Market-Perceived Monetary Policy Rule
... 3.2 Data Fed funds futures are accurate predictors of the effective fed funds rate, as documented in numerous studies including Evans (1998), Refet S. G¨ urkaynak, Brian P. Sack, and Eric T. Swanson (2007), Piazzesi and ...
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Inflation Targeting As a Monetary Policy Rule: Experience and Prospects
... The contradictions in the empirical work led us to look for, if inflation targeting contributes to macroeconomic performance. Indeed, the objective in this work is to obtain results in favor of the adoption of (IT). The ...
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Inflation Targeting As a Monetary Policy Rule: Experience and Prospects
... The contradictions in the empirical work led us to look for, if inflation targeting contributes to macroeconomic performance. Indeed, the objective in this work is to obtain results in favor of the adoption of (IT). The ...
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Towards a robust monetary policy rule for the euro area
... of policy rates. More strikingly, the actual policy rate virtually lies at any point in time within the corridor prescribed by the range of policy rules, the only exception being the extended period ...
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A speed limit monetary policy rule for the euro area
... optimal rule under commitment with that of some simple linear rules which have been proposed in the ...optimal rule under commitment is their easier interpretability, which may make them more useful ...
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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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A monetary policy rule: The augmented Monetary Conditions Index for Philippines using UECM and bounds tests
... domestic monetary conditions in the ...of monetary policy to real sector via the short-run interest rate channel is competent and ...of monetary policy through the long-run interest ...
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Monetary Policy, Rule-of-Thumb Consumers and External Habits: A G7 Comparison
... Taylor rule parameters, we assume that the mean values for the parameter on expected inflation and for the parameter on output gap are, respectively, ...Taylor rule parameters conducted for the seven ...
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