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Mendes, Rhys R. - 2014

A measure of the neutral policy interest rate can be used to gauge the stance of monetary policy. We define the neutral rate as the real policy rate consistent with output at its potential level and inflation equal to target after the effects of all cyclical shocks have dissipated. This is a...

Persistent link: https://www.econbiz.de/10010406295

Transmission of monetary policy through capital inflows to emerging markets

Olani, Adugna - 2016

In this paper, I examine the effects of advanced economies' conventional monetary policy on gross foreign direct and portfolio investment inflows to emerging economies. I use structural vector autoregressions to analyse and compare the response of each inflow category to world interest rate and...

Persistent link: https://www.econbiz.de/10011443289

What explains month-end funding pressure in Canada?

Sutherland, Christopher S. - 2017

The Canadian overnight repo market persistently shows signs of latent funding pressure around month-end periods. Both the overnight repo rate and Bank of Canada liquidity provision tend to rise in these windows. This paper proposes three non-mutually exclusive hypotheses to explain this...

Persistent link: https://www.econbiz.de/10011661122

Assessing the impact of demand shocks on the US term premium

Barnett, Russell; Zmitrowicz, Konrad - 2018

During and after the Great Recession of 2008-09, conventional monetary policy in the United States and many other advanced economies was constrained by the effective lower bound (ELB) on nominal interest rates. Several central banks implemented large-scale asset purchase (LSAP) programs, more...

Persistent link: https://www.econbiz.de/10011873794

Monetary policy and the exchange rate in Norway

Mæhlum, Mathis - 2025

I estimate how monetary policy affects the exchange rate in Norway using a local projection instrumental variables (LP-IV) framework with high-frequency monetary policy surprises as instruments. I find that a surprise increase in the Norwegian policy interest rate leads to an immediate...

Persistent link: https://www.econbiz.de/10015396868

Mark my Words : The Transmission of Central Bank Communication to the General Public via the Print Media

Munday, Tim; Brookes, James - 2021

We ask how central banks can change their communication in order to receive greater newspaper coverage. We write down a … communication in such a way that newspapers choose to report it, while still retaining the message the central bank wishes to convey … measures of news coverage in order to determine what causes central bank communication to be reported on will likely prove to …

Persistent link: https://www.econbiz.de/10013322399

Monetary policy after the crisis : a joint publication with the National Bank of Poland

Gnan, Ernest (ed.); Kokoszcynski, Ryszard (ed.); … - Conference Monetary Policy after the Crisis <2011, Warschau>; … - 2011

On 4 March 2011, SUERF – The European Money and Finance Forum and the National Bank of Poland jointly organised a conference on the theme of: "Monetary Policy after the Crisis". Following a call for papers with a large number of submissions, the scientific committee selected 9 papers, which...

Persistent link: https://www.econbiz.de/10011710723

The interaction between macroprudential and monetary policies: the cases of Norway and Sweden

Cao, Jin; Dinger, Valeriya; Grodecka-Messi, Anna; … - 2020 - This version: July, 2020

To shed light on the interaction between macroprudential and monetary policies, we study the inward transmission of foreign monetary policy in conjunction with domestic macroprudential and monetary policies in Norway and Sweden. Using detailed bank-level data we show how Norwegian and Swedish...

Persistent link: https://www.econbiz.de/10012243617

The macroeconomic effects of forward communication

Brubakk, Leif; Ellen, Saskia ter; Robstad, Ørjan; Xu, Hong - 2019

This paper provides an empirical assessment of the power of forward guidance at different horizons, shedding new light on the strength of the "forward guidance puzzle". Our identification strategy allows us to disentangle the change in future interest rates stemming from deviations from the...

Persistent link: https://www.econbiz.de/10012214409

The interaction between macroprudential and monetary policies : the cases of Norway and Sweden

Cao, Jin; Dinger, Valeriya; Grodecka-Messi, Anna; … - 2020

Persistent link: https://www.econbiz.de/10012271409