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Central banks are always concerned with keeping long-run inflation expectations well anchored at some implicit or … expectations accurately. One such indicator frequently reported in the specialized financial press and by central banks around the …
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Central banks worldwide have become more transparent. An important reason is that democratic societies expect more …
Persistent link: https://www.econbiz.de/10009131509
While the goals that guide monetary policy in different countries are very similar, central banks diverge in their … methods of implementing policy. This study of the policy frameworks of four central banks—the Federal Reserve, the European … Central Bank, the Bank of England, and the Swiss National Bank—focuses on two notable areas of difference. The first is the …
Persistent link: https://www.econbiz.de/10009366949
When a small open economy experiences a sufficiently large negative export shock, it is vulnerable to falling into a zero bound trap. In addition, such a shock can have very large impact on the economy compared to the case when the zero bound is not a binding constraint. This could be one...
Persistent link: https://www.econbiz.de/10008690997
Remarks at the Andrew Crockett Memorial Lecture, Bank for International Settlements 2013 Annual General Meeting, Basel, Switzerland.
Persistent link: https://www.econbiz.de/10010724978
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Although we can’t be certain of the size of the effect, the ECB’s recent experience suggests that eliminating interest paid on reserves held with the Federal Reserve would not substantially increase bank lending and money growth.
Persistent link: https://www.econbiz.de/10010727269
To conduct academic research on the federal funds (fed funds) market, historically one of the most important financial markets in the U.S., some empirical economists have used market level measures published by the Markets Group at the Federal Reserve Bank of New York (FRBNY). To obtain more...
Persistent link: https://www.econbiz.de/10011027205