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The boundaries of central bank independence : lessons from unconventional times

Orphanides, Athanasios - 2018

too-low inflation. The experience of the Bank of Japan's encounter with the zero lower bound suggests important benefits … Geldpolitik auch beim Einsatz unkonventioneller Maßnahmen erfolgreich ist? Athanasios Orphanides analysiert die Maßnahmen der Bank … of Japan (BoJ) seit den späten 1990er Jahren und zeigt auf, worauf bei der Formulierung geachtet werden sollte. …

Persistent link: https://www.econbiz.de/10011901698

The quest for prosperity without inflation

Orphanides, Athanasios - 1999

In recent years, activist monetary policy rules responding to inflation and the level of economic activity have been advanced as a means of achieving effective output stabilization without inflation. Advocates of such policies suggest that their flexibility may yield substantial stabilization...

Persistent link: https://www.econbiz.de/10011584494

Monetary policy in South Africa, 2007-21

Honohan, Patrick; Orphanides, Athanasios - 2022

This paper reviews South Africa's monetary policy since 2007 and makes recommendations towards improving the inflation-targeting framework currently in place. Following a surge in inflation into double digits in 2007/08, the South African Reserve Bank managed to guide inflation in line with the...

Persistent link: https://www.econbiz.de/10012887936

Enhancing resilience with natural growth targeting

Orphanides, Athanasios - 2024

Despite a number of helpful changes, including the adoption of an inflation target, the Fed's monetary policy strategy proved insufficiently resilient in recent years. While the Fed eased policy appropriately during the pandemic, it fell behind the curve during the post-pandemic recovery. During...

Persistent link: https://www.econbiz.de/10014479735