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The chronology of Brexit and UK monetary policy

Geiger, Martin; Güntner, Jochen - 2022

domestic product, consumer confidence, and monetary policy rates while raising CPI inflation. A counterfactual experiment, in …

Persistent link: https://www.econbiz.de/10013194430

Uncertainty and Effectiveness of Monetary Policy : A Bayesian Markov Switching-VAR Analysis

Nain, Md. Zulquar - 2020

There is a growing body of literature examining the effectiveness of the monetary policy on the macro-economy in different contexts for developed and developing countries. However, lately, especially after the GFC, the focus of research shifted to examine the role of uncertainty in economic...

Persistent link: https://www.econbiz.de/10012825581

Inflation, perception of economic uncertainty and COVID-19 : evidence from Central Bank communication

Silva, Pierre Hítalo Nascimento; Araujo, Jevuks Matheus de - In: Central Bank review / Central Bank of the Republic of Turkey 23 (2023) 1, pp. 1-13

Do extreme events have a significant effect about textual sentiment? The purpose of this article is to highlight the need to correct the estimation of indicators of economic uncertainty. The indicators were constructed from textual data about the perspective of extreme events. For this purpose,...

Persistent link: https://www.econbiz.de/10014281527

Robust monetary policy under uncertainty about the lower bound

Tillmann, Peter - 2019

Central banks face uncertainty about the true location of the effective lower bound (ELB) on nominal interest rates. We model optimal discretionary monetary policy during a liquidity trap when the central bank designs policy that is robust with respect to the location of the ELB. If the central...

Persistent link: https://www.econbiz.de/10011992357

The Markup Elasticity of Monetary Non-Neutrality

Höynck, Christian; Li, Minghao; Zhang, Donghai - 2022

Firms’ market power, measured by markups, has risen substantially and unequally across sectors. To evaluate the implications of these trends for monetary non-neutrality, we develop a quantitative menu cost model that covers multiple sectors with heterogeneous degrees of market competition. Two...

Persistent link: https://www.econbiz.de/10014237117

Changes in monetary regimes and the identification of monetary policy shocks : narrative evidence from Canada

Champagne, Julien; Sekkel, Rodrigo - 2017

by the announcement of inflation targeting in 1991 when estimating the effects of monetary policy. For instance, we find …

Persistent link: https://www.econbiz.de/10011777945

One Hundred Years of Separation : The Inflation of 1919 and COVID-19

Higgins, CFA, CFP®, Mark - 2022

current burst of inflation in the wake of the COVID-19 pandemic and the inflation that Americans experienced 100 years ago … announced aggressive plans to reduce its massive balance sheet. Expectations are that tightening will continue until inflation … applied to counteract extreme economic conditions, the risk of overshooting the target increases substantially. For this …

Persistent link: https://www.econbiz.de/10013291438

Systemic risk : a new trade-off for monetary policy?

Laséen, Stefan; Pescatori, Andrea; Turunen, Jarkko - 2017

We introduce time-varying systemic risk (à la He and Krishnamurthy, 2014) in an otherwise standard New-Keynesian model … to study whether simple leaning-against-the-wind interest rate rules can reduce systemic risk and improve welfare. We … requirement, can eliminate systemic risk raising welfare by about 1.5%. Also, a surprise monetary policy tightening does not …

Persistent link: https://www.econbiz.de/10011713865

A new comparative approach to macroeconomic modeling and policy analysis

Wieland, Volker; Cwik, Tobias; Müller, Gernot J.; … - 2012

In the aftermath of the global financial crisis, the state of macroeconomicmodeling and the use of macroeconomic models in policy analysis has come under heavy criticism. Macroeconomists in academia and policy institutions have been blamed for relying too much on a particular class of...

Persistent link: https://www.econbiz.de/10010391307

Central bank policies and climate change : where do we stand?

Vollmer, Uwe - In: Credit and capital markets : Kredit und Kapital 55 (2022) 3, pp. 381-411

The article reviews the literature on the relationship between climate change and central bank policies. Central banks conduct monetary policy and are responsible for macroprudential supervision. The article focuses on the consequences of transition and physical risks for financial stability and...

Persistent link: https://www.econbiz.de/10014518593