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Central Bank misperceptions and the role of money in interest rate rules
Beck, Günter W.; Wieland, Volker - 2008
modified to account for observed money growth and inflation trends, and that monetary trends may serve as a useful cross … persistent errors in monetary policy and sustained trends in money growth and inflation. If interest rate prescriptions derived … from Keynesian-style models are augmented with a cross-check against money-based estimates of trend inflation, inflation …
Persistent link: https://www.econbiz.de/10011605013
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Central bank misperceptions and the role of money in interest rate rules
Beck, Günter W.; Wieland, Volker - 2008
modified to account for observed money growth and inflation trends, and that monetary trends may serve as a useful cross … persistent errors in monetary policy and sustained trends in money growth and inflation. If interest rate prescriptions derived … from Keynesian-style models are augmented with a cross-check against money-based estimates of trend inflation, inflation …
Persistent link: https://www.econbiz.de/10010298408
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Central bank misperceptions and the role of money in interest rate rules
Beck, Guenter; Wieland, Volker - 2008
modified to account for observed money growth and inflation trends, and that monetary trends may serve as a useful cross … persistent errors in monetary policy and sustained trends in money growth and inflation. If interest rate prescriptions derived … from Keynesian-style models are augmented with a cross-check against money-based estimates of trend inflation, inflation …
Persistent link: https://www.econbiz.de/10011506668
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Fiscal consolidation strategy
Cogan, John F.; Taylor, John B.; Wieland, Volker; … - 2012
In the aftermath of the global financial crisis and great recession, many countries face substantial deficits and growing debts. In the United States, federal government outlays as a ratio to GDP rose substantially from about 19.5 percent before the crisis to over 24 percent after the crisis. In...
Persistent link: https://www.econbiz.de/10010311794
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A quantitative exploration of the opportunistic approach to disinflation
Aksoy, Yunus; Orphanides, Athanasios; Small, David; … - 2005
stabilization when inflation is close to its target, allowing supply shocks and unforeseen fluctuations in aggregate demand to move …
Persistent link: https://www.econbiz.de/10010298307
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Taylor rules and the inflation surge: The case of the Fed
Tatar, Balint; Wieland, Volker - 2024
The Federal Reserve has been publishing federal funds rate prescriptions from Taylor rules in its Monetary Policy Report since 2017. The signals from the rules aligned with Fed action on many occasions, but in some cases the Fed opted for a different route. This paper reviews the implications of...
Persistent link: https://www.econbiz.de/10014493089