Search Results - subject:"Reaction function"

The reaction function channel of monetary policy and the financial cycle

Filardo, Andrew J.; Hubert, Paul; Phurichai … - 2019

Persistent link: https://www.econbiz.de/10012131160

The reaction function channel of monetary policy and the financial cycle

Filardo, Andrew J.; Hubert, Paul; Phurichai … - 2019

Persistent link: https://www.econbiz.de/10012233608

Nonlinear reaction functions : evidence from India

Ajaz, Taufeeq - In: Journal of central banking theory and practice 8 (2019) 1, pp. 111-132

policy reaction function in India and hence nonlinearities in the Taylor-rule. Evidence of both recession avoidance …, thus confirming nonlinearities in reaction function which in the present case turns out to be concave in inflation and …

Persistent link: https://www.econbiz.de/10011965222

Fiscal Effects of the COVID-19 Pandemic: Assessing Public Debt Sustainability in the Philippines

Debuque-Gonzales, Margarita; Sicat, Charlotte Justine Diokno - 2022

This paper examines whether the current level of debt in the country, given the national government's fiscal policy and plans, remains on a sustainable path. By end-2021, a year after the peak of the public health and economic crisis brought about by the COVID-19 pandemic, the country's...

Persistent link: https://www.econbiz.de/10014485052

Evaluating the role of the exchange rate in monetary policy reaction function of advanced and emerging market economies

Fabris, Nikola; Lazić, Milena - In: Journal of Central Banking Theory and Practice 11 (2022) 2, pp. 77-96

The subject of this paper is the evaluation of monetary policy reaction function on panel data of 37 world economies … importance of the exchange rate in monetary policy reaction function depending on the level of economic development. For this … economies. The methodology of empirical research is based on the econometric assessment of monetary policy reaction function …

Persistent link: https://www.econbiz.de/10014558420

Foreign exchange interventions and their impact on expectations: Evidence from the USD/ILS options market

Hertrich, Markus; Nathan, Daniel - 2022

Using confidential daily data, we analyse how the intervention episode of the Bank of Israel (BOI) from 2013 to 2019 has affected the foreign value of the Israeli new shekel (ILS) and the expectations about its future value. We find that interventions amounting to US dollar (USD) 1 billion are...

Persistent link: https://www.econbiz.de/10013272159

Procyclical and countercyclical fiscal policies in non-euro EU member countries

Iancu, Aurel; Olteanu, Dan - 2022

The aim of this study is to determine the nature of the discretionary fiscal policy practiced by non-euro EU member states, namely to deduce some bias for one of the two types of fiscal policies - procyclical or countercyclical. For this purpose, we used time series for the period 1995-2020, of...

Persistent link: https://www.econbiz.de/10015055529

Monetary Policy Under Climate Change

Xepapadeas, Anastasios; Oikonomidēs, Geōrgios - 2022

We study monetary policy under climate change in order to answer the question of whether monetary policy should take into account the expected impacts of climate change. The setup is a new Keynesian dynamic stochastic general equilibrium model of a closed economy in which a climate module that...

Persistent link: https://www.econbiz.de/10014078156

Milton Friedman and the Case for Flexible Exchange Rates and Monetary Rules

Tavlas, G. S.; Dellas, Harris - 2022

Milton Friedman was a strong proponent of flexible exchange rates accompanied by a domestic monetary rule. He believed that such a combination would deliver superior economic performance and would also be more consistent with democratic principles than a regime based on fixed exchange rates and...

Persistent link: https://www.econbiz.de/10014078166

In Old Chicago : Simons, Friedman and the Development of Monetary-Policy Rules

Tavlas, G. S. - 2022

This paper examines the different policy rules proposed by Henry Simons, who, beginning in the mid-1930s, advocated a price-level stabilization rule, and by Milton Friedman, who, beginning in the late-1950s, advocated a rule that targeted a constant growth rate of the money supply. Although both...

Persistent link: https://www.econbiz.de/10014079031