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Monetary policy: decision-making, tools, and objectives

Anderson, Clay J. - 1961

Persistent link: https://www.econbiz.de/10002956434

Federal Reserve Bank of Philadelphia - Philadelphia, Pa. : Federal Reserve Bank of Philadelphia - Volume 1, issue 1 (1st quarter 2016)-

Persistent link: https://www.econbiz.de/10012207426

Food or commodity price shocks and inflation: a central banker's perspective

Plosser, Charles I. - Federal Reserve Bank of Philadelphia - 2009

A speech presented at "Food and Water - Basic Challenges to International Stability," 2009 Global Conference Series (Part 4), (Global Interdependence Center (GIC) in partnership with the University of Chicago Booth School of Business, Singapore, November 19, 2009

Persistent link: https://www.econbiz.de/10010727148

Lliquidity, trends, and the great recession

Guerron-Quintana, Pablo; Jinnai, Ryo - Federal Reserve Bank of Philadelphia - 2014

The authors study the impact that the liquidity crunch in 2008-2009 had on the U.S. economy’s growth trend. To this end …, the authors propose a model featuring endogenous productivity a la Romer and a liquidity friction a la Kiyotaki-Moore. A … key finding in the authors’ study is that liquidity declined around the Lehman Brothers’ demise, which led to the severe …

Persistent link: https://www.econbiz.de/10010930295

Monetary policy: our changing economic environment

1958

Persistent link: https://www.econbiz.de/10003312445

Monetary policy implementation frameworks: a comparative analysis

Martin, Antoine; Monnet, Cyril - Federal Reserve Bank of Philadelphia - 2009

The authors compare two stylized frameworks for the implementation of monetary policy. The first framework relies only on standing facilities, while the second framework relies only on open market operations. They show that the Friedman rule cannot be implemented when the central bank uses...

Persistent link: https://www.econbiz.de/10008627184

Fiscal volatility shocks and economic activity

Fernandez-Villaverde, Jesus; Guerron-Quintana, Pablo; … - Federal Reserve Bank of Philadelphia - 2011

The authors study the effects of changes in uncertainty about future fiscal policy on aggregate economic activity. Fiscal deficits and public debt have risen sharply in the wake of the financial crisis. While these developments make fiscal consolidation inevitable, there is considerable...

Persistent link: https://www.econbiz.de/10009216227

On the implementation of Markov-perfect monetary policy

Dotsey, Michael; Hornstein, Andreas - Federal Reserve Bank of Philadelphia - 2011

The literature on optimal monetary policy in New Keynesian models under both commitment and discretion usually solves for the optimal allocations that are consistent with a rational expectations market equilibrium, but it does not study whether the policy can be implemented given the available...

Persistent link: https://www.econbiz.de/10009216230

Optimal monetary policy in a model of money and credit

Gomis-Porqueras, Pedro; Sanches, Daniel R. - Federal Reserve Bank of Philadelphia - 2011

The authors investigate the extent to which monetary policy can enhance the functioning of the private credit system. Specifically, they characterize the optimal return on money in the presence of credit arrangements. There is a dual role for credit: It allows buyers to trade without fiat money...

Persistent link: https://www.econbiz.de/10009216231

Soverign risk and the effects of fiscal retrenchment in deep recessions

Corsetti, Giancarlo; Kuester, Keith; Meier, Andre; … - Federal Reserve Bank of Philadelphia - 2011

The authors analyze the effects of government spending cuts on economic activity in an environment of severe fiscal strain, as reflected by a sizeable risk premium on government debt. Specifically, they consider a "sovereign risk channel," through which sovereign default risk spills over to the...

Persistent link: https://www.econbiz.de/10009320690

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