Similar Search Results

The effects of monetary policy : a meta-analysis : presented at CESifo Area Conference on Macro, Money and International Finance, February 2004

De Grauwe, Paul; Costa, Cláudia - 2004

In this paper we perform a meta-analysis of the effects of monetary policies on output and prices. We use a sample of published papers on the effects of monetary policies in different countries. There is a large variation in the estimated effects of monetary policies on output and prices. We...

Persistent link: https://www.econbiz.de/10011449687

The signaling role of municipal currencies in local development

Jayaraman, Rajshri; Oak, Mandar - 2003

The last decade has seen the burgeoning of several hundred local community currency institutions in cities across the world. Although residents of these communities claim that local currency promotes local development, how if at all it does so has hitherto been unexplored. This paper argues that...

Persistent link: https://www.econbiz.de/10011507689

Goals and rules in central bank design

Walsh, Carl E. - 2015

Beginning with the Reserve Bank of New Zealand Act of 1989, central banking reforms have focused on assigning clear goals for which monetary policy authorities can be held accountable. Inflation targeting regimes provide examples of such goal-based policy frameworks. An alternative approach,...

Persistent link: https://www.econbiz.de/10010503465

Risk management-driven policy rate gap

Caggiano, Giovanni; Castelnuovo, Efrem; Nodari, Gabriela - 2018

We employ real-time data available to the US monetary policy makers to estimate a Taylor rule augmented with a measure of financial uncertainty over the period 1969-2008. We find evidence in favor of a systematic response to financial uncertainty over and above that to expected inflation, output...

Persistent link: https://www.econbiz.de/10011884396

Systematic monetary policy and the macroeconomic effects of shifts in loan-to-value ratios

Bachmann, Ruediger; Rüth, Sebastian - 2017

What are the macroeconomic consequences of changing aggregate lending standards in residential mortgage markets, as measured by loan-to-value (LTV) ratios? In a structural VAR, GDP and business investment increase following an expansionary LTV shock. Residential investment, by contrast, falls, a...

Persistent link: https://www.econbiz.de/10011646925

Time-varying parameters in monetary policy rules : a GMM approach

Anderl, Christina; Caporale, Guglielmo Maria - 2023

This paper assesses time variation in monetary policy rules by applying a Time-Varying Parameter Generalised Methods of Moments (TVP-GMM) framework. Using monthly data until December 2022 for five inflation targeting countries (the UK, Canada, Australia, New Zealand, Sweden) and five countries...

Persistent link: https://www.econbiz.de/10014284714

Risk aversion and prudence in contests

Sahm, Marco - 2017

' comparative prudence under which a higher common level of risk aversion leads to lower aggregate effort in symmetric contests …

Persistent link: https://www.econbiz.de/10011638255

Higher order risk preferences : new experimental measures, determinants and field behavior

Schneider, Sebastian O.; Sutter, Matthias - 2020 - Version of August, 2020

We use a novel method to elicit and measure higher order risk preferences (prudence and temperance) in an experiment … prudence are strongly related to adolescents' field behavior, including their financial decision making, eco-friendly behavior …, and health status, including addictive behavior. Most importantly, we show that dropping prudence and temperance from the …

Persistent link: https://www.econbiz.de/10012270596

Pricing climate risk

Jensen, Svenn; Traeger, Christian - 2021

making under uncertainty. It clarifies the distinct roles of risk aversion, prudence, characteristics of the damage …

Persistent link: https://www.econbiz.de/10012597858

On the perils of stabilizing prices when agents are learning

Mele, Antonio; Molnár, Krisztina; Santoro, Sergio - 2015

We show that price level stabilization is not optimal in an economy where agents have incomplete knowledge about the policy implemented and try to learn it. A systematically more accommodative policy than what agents expect generates short term gains without triggering an abrupt loss of...

Persistent link: https://www.econbiz.de/10010474823