Volume 36, Issue 4
... inflation changes where the A matrix is [ ] and the B matrix is [ .]. Parameters to be estimated are denoted by dots. The value of is derived from the identification assumption that demand shocks do not have any long-run real effect unless when shifting the supply curve.2 In baseline results we ma ...
... inflation changes where the A matrix is [ ] and the B matrix is [ .]. Parameters to be estimated are denoted by dots. The value of is derived from the identification assumption that demand shocks do not have any long-run real effect unless when shifting the supply curve.2 In baseline results we ma ...
NBER WORKING PAPER SERIES DO CAPITAL ADEQUACY REQUIREMENTS MATTER FOR MONETARY POLICY?
... Central bankers know that Þnancial intermediation is important for achieving macroeconomic stability. Without a functioning banking system, an economy will grind to a halt. It is the job of regulators and supervisors to ensure that the Þnancial system functions smoothly. But monetary policy and prud ...
... Central bankers know that Þnancial intermediation is important for achieving macroeconomic stability. Without a functioning banking system, an economy will grind to a halt. It is the job of regulators and supervisors to ensure that the Þnancial system functions smoothly. But monetary policy and prud ...
inflation modeling for the sudan 1970-2002
... the cost of consumer’s goods and services. It can be used as an indicator of inflation in developing countries. The CPI, to a greater extent, reflects the traditional economy, which is labour-intensive, small-scale and with low productivity. The GNP deflator is the ratio of nominal GNP to real GNP a ...
... the cost of consumer’s goods and services. It can be used as an indicator of inflation in developing countries. The CPI, to a greater extent, reflects the traditional economy, which is labour-intensive, small-scale and with low productivity. The GNP deflator is the ratio of nominal GNP to real GNP a ...
Bade_Parkin_Macro_Lecture_CH16
... If the Fed fears recession, it acts to increase aggregate demand. ...
... If the Fed fears recession, it acts to increase aggregate demand. ...
16.1 the budget and fiscal policy
... If the Fed fears recession, it acts to increase aggregate demand. ...
... If the Fed fears recession, it acts to increase aggregate demand. ...
Financial Stability and Monetary Policy Erdem BAŞÇI Hakan KARA
... strengthen the risk channel of required reserves. Moreover, the CBRT’s strategy of providing liquidity primarily through quantity auctions (which means no full-allotment) further strengthened the interest rate risk and liquidity channels. In sum, in the CBRT’s policy strategy of widening the interes ...
... strengthen the risk channel of required reserves. Moreover, the CBRT’s strategy of providing liquidity primarily through quantity auctions (which means no full-allotment) further strengthened the interest rate risk and liquidity channels. In sum, in the CBRT’s policy strategy of widening the interes ...
The Demand for Currency Substitution.
... RS, and the two kinds of money earn rates of return RMi. It is presumed that RS > RMi > RXg.3 When the household exhausts its holdings of a medium of exchange, the cash-in-advance constraint forces it to replenish those holdings by converting some of its saving asset to the desired medium. There are ...
... RS, and the two kinds of money earn rates of return RMi. It is presumed that RS > RMi > RXg.3 When the household exhausts its holdings of a medium of exchange, the cash-in-advance constraint forces it to replenish those holdings by converting some of its saving asset to the desired medium. There are ...
NBER WORKING PAPER SERIES RECENT DEVELOPMENTS IN MACROECONOMICS Working Paper No. 2473
... component is priced at user cost, equal to the difference between the maximum expected holding period yield available in the economy and the expected yield on the particular asset——It thus corresponds closely to the notion of non— ...
... component is priced at user cost, equal to the difference between the maximum expected holding period yield available in the economy and the expected yield on the particular asset——It thus corresponds closely to the notion of non— ...
Eurosystem Monetary Targeting: Lessons from U.S. Data ¤ Glenn D. Rudebusch
... or prices; however, a sizable fraction also concedes that money may have some value as an indicator of economic developments (e.g., Meyer [26]). This view of the role of monetary aggregates is evident in most central bank empirical policy models. For example, Smets [37] surveys the central bank mode ...
... or prices; however, a sizable fraction also concedes that money may have some value as an indicator of economic developments (e.g., Meyer [26]). This view of the role of monetary aggregates is evident in most central bank empirical policy models. For example, Smets [37] surveys the central bank mode ...
Working Paper No. 408 - Levy Economics Institute of Bard College
... issues related to our approach. First, it should be noted that the structure above simplifies away “non-bank financial intermediaries”—deemed by Davidson (1972, p. 146-147) indispensable to “any model of a monetary (…) economy which attempts to provide insights about the real world.” In our interpre ...
... issues related to our approach. First, it should be noted that the structure above simplifies away “non-bank financial intermediaries”—deemed by Davidson (1972, p. 146-147) indispensable to “any model of a monetary (…) economy which attempts to provide insights about the real world.” In our interpre ...
MerCAtUS reSeArCh A MArket-Driven noMinAl GDP tArGetinG reGiMe
... based on fundamentally distinct ways of thinking about monetary economics in general. Indeed, it is not clear that the preceding five economists would even agree on what is meant by the term “monetary policy.” Friedman and McCallum might argue that monetary policy is all about control of the quantit ...
... based on fundamentally distinct ways of thinking about monetary economics in general. Indeed, it is not clear that the preceding five economists would even agree on what is meant by the term “monetary policy.” Friedman and McCallum might argue that monetary policy is all about control of the quantit ...
Aggregate Demand I: Building the IS
... nothing to do with it. The tax cuts gave people the incentive to work harder. So, L increased. Therefore, Y = F(K, L) also increased. – Personally, I feel this argument doesn’t explain why the unemployment rate fell ...
... nothing to do with it. The tax cuts gave people the incentive to work harder. So, L increased. Therefore, Y = F(K, L) also increased. – Personally, I feel this argument doesn’t explain why the unemployment rate fell ...
Money & Banking
... a recessionary gap, which exerts downward pressure on inflation. This gives policymakers the opportunity to guide the economy to a new, lower inflation target without inducing a recession ...
... a recessionary gap, which exerts downward pressure on inflation. This gives policymakers the opportunity to guide the economy to a new, lower inflation target without inducing a recession ...