Similar Search Results

Using extraneous information to analyze monetary policy in transition economies

Gavin, William T.; Kemme, David M. - Federal Reserve Bank of St. Louis - 2007

Empirical work in macroeconomics is plagued by small sample size and large idiosyncratic variation. This problem is especially severe in the case of transition economies. We use a mixed estimation method incorporating information from OECD country data to estimate the parameters of a...

Persistent link: https://www.econbiz.de/10005490941

A common model approach to macroeconomics : using panel data reduce sampling error

Gavin, William T. (contributor); … - 2003 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001986936

Monetary policy, taxes and the business cycle

Gavin, William T. (contributor); … - 2004 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10002496910

Recent developments in monetary macroeconomics and U.S. dollar policy

Gavin, William T. (contributor) - 2005

"This paper summarizes recent developments in the theory and practice of monetary policy in a closed economy and explains what these developments mean for U.S. dollar policy. There is no conflict between what is appropriate U.S. monetary policy at home or abroad because the dollar is the world's...

Persistent link: https://www.econbiz.de/10003139110

Evaluating FOMC forecasts

Gavin, William T. (contributor); … - 2002 - [Elektronische Ressource],rev

Persistent link: https://www.econbiz.de/10001919471

FOMC forecasts : is all the information in the central tendency?

Gavin, William T. (contributor) - 2003 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001978133

Inflation persistence and flexible prices

Dittmar, Robert F. (contributor); … - 2003 - [Elektronische Ressource], rev

Persistent link: https://www.econbiz.de/10001941480

Forecasting inflation and growth: do private forecasts match those of policymakers?

Gavin, William T.; Mandal, Rachel J. - Federal Reserve Bank of St. Louis - 2000

FOMC projections are important because they provide information for evaluating current monetary policy intentions and because they indicate what FOMC members think will be the likely consequence of their policies. Results here show that the Blue Chip consensus forecasts are a good proxy for the...

Persistent link: https://www.econbiz.de/10005352919

The monetary instrument matters

Gavin, William T.; Keen, Benjamin D.; Pakko, Michael R. - Federal Reserve Bank of St. Louis - 2005

This paper revisits the issue of money growth versus the interest rate as the instrument of monetary policy. Using a … of inflation relative to money growth depends on whether the central bank follows a money growth rule or an interest rate … rule. With a money growth rule, inflation is not persistent and the price level is much more volatile than the money supply …

Persistent link: https://www.econbiz.de/10005352925

What do New-Keynesian Phillips Curves imply for price level targeting?

Dittmar, Robert; Gavin, William T. - Federal Reserve Bank of St. Louis - 1999

This paper extends the analysis of price level targeting to a model including the New-Keynesian Phillips Curve. We examine the inflation-output variability tradeoffs implied by optimal inflation and price level rules. In previous work with the Neoclassical Phillips Curve, we found that the...

Persistent link: https://www.econbiz.de/10005353008