Search Results - subject_exact:"Monetary targeting"

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Successful central banks can afford to pay scant attention to money

Francesco, Papadia; Leonardo, Cadamuro - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015334743

Playing by the Taylor rules or sticking to Friedman's policy : a new approach to monetary policy identification

Arefeva, Alina; Arefyev, Nikolay - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015193342

On the weak impact of base money on broad money in the context of unconventional monetary policy : Euro Area 2008-2024

Pateiro-Rodríguez, Carlos; Martín-Bermúdez, Federico; … - 2025

In its response to the economic and financial crises of 2008, the sovereign debt and euro crisis of 2010-2015, and the COVID-19 pandemic of 2020-2023, the European Central Bank (ECB) implemented an unconventional monetary policy aimed at providing liquidity for more than a decade, through a...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015410871

Monetary facts or monetarist facts? : a re-examination

Khan, Muhammad Azam; Rashid, Salim - 2025

The Quantity Theory of Money claims to provide one of the few long-run guides to economic policy by providing specific numbers to characterise the correlation between money growth and inflation. Acceptance of the Quantity Theory has been greatly helped by the claim, propounded most effectively...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015376957

Monetary targeting revisited

Kern, Florian; Sigl-Glöckner, Philippa; Krahé, Max - 2022

Central banks define a monetary policy strategy in which they set out the instruments they use to achieve their monetary policy objectives as well as the incoming data they take into account when using these instruments. Independent central banks in particular are expected to provide a detailed...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014362631

Monetaristische Ziele? Die Geldmengensteuerung der Deutschen Bundesbank in den 1970er und 1980er Jahren

Ahrens, Ralf - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015051878

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Monetaristische Ziele? : die Geldmengensteuerung der Deutschen Bundesbank in den 1970er und 1980er Jahren

Ahrens, Ralf - 2024

Article

Monetaristische Ziele? : die Geldmengensteuerung der Deutschen Bundesbank in den 1970er und 1980er Jahren

Ahrens, Ralf - 2024

Article

The performance of emerging markets during the fed's easing and tightening cycles : a resilience analysis across economies

Aizenman, Joshua; Park, Donghyun; Qureshi, Irfan A.; … - 2024

We investigate the determinants of the performance of emerging markets (EMs) during five United States (US) Federal Reserve monetary tightening and easing cycles from 2004 to 2023. We study how macroeconomic and institutional conditions of an EM at the beginning of a cycle explain EM resilience...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014633512

Liquidity, the Mundell-Tobin effect, and the Friedman rule

Altermatt, Lukas; Wipf, Christian - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015116858

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Liquidity, the Mundell-Tobin effect, and the Friedman rule

Altermatt, Lukas; Wipf, Christian - 2020

Book / Working Paper

Optimal quantitative easing and tightening

Harrison, Richard - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015050700

The economics of central bank digital currency

Ahnert, Toni; Assenmacher, Katrin; Hoffmann, Peter; … - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015426695

The role of money in Saudi Arabia's economic expansion : an empirical investigation of monetary dynamics

Alaskar, Ibraheem; AlAli, Musaed S.; Alsaifi, Khaled - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015619857

Quantitative Tightening Around the Globe : What Have We Learned?

Du, Wenxin; Forbes, Kristin; Luzzetti, Matthew N. - 2024

This paper uses the recent cross-country experience with quantitative tightening (QT) to assess the impact of shrinking central bank balance sheets. We analyze the experience in seven advanced economies (Australia, Canada, Euro area, New Zealand, Sweden, UK and US)--documenting different...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014528361

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Quantitative tightening around the globe : what have we learned?

Du, Wenxin; Forbes, Kristin; Luzzetti, Matthew - 2024

Book / Working Paper

Quantitative tightening around the globe : what have we learned?

Du, Wenxin; Forbes, Kristin; Luzzetti, Matthew - 2024

Book / Working Paper

Monetary policy implementation : operational issues for countries with evolving monetary policy frameworks

Mæhle, Nils Øyvind - 2020

This paper discusses operational issues for countries that want to reform their monetary policy frameworks. It argues that stabilizing short-term interest rates on a day-to-day basis has significant advantages, and thus that short-term interest rates, not reserve money, in most cases should be...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012170148

An exchange rate policy rule

Parrado, Eric - 2023

This paper introduces a novel monetary policy framework where the exchange rate becomes the central instrument. Using Singapore as a case study, it explores the Monetary Authority's adoption of the exchange rate as the primary tool since 1981, diverging from conventional approaches centered on...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014538995

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An Exchange Rate Policy Rule

Parrado, Eric - 2023

Book / Working Paper

Quantitative Easing Spillovers

Kyriazis, Antzelos - 2023

This paper studies the spillover effects of US quantitative easing on emerging market economies. I estimate the spillover effects using Bayesian VAR models for the US economy and a set of emerging market economies. A 1% increase in the Federal Reserves securities held outright has positive and...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014347085

Monetary Policy Without Commitment

Afrouzi, Hassan; Halac, Marina; Rogoff, Kenneth S.; … - 2023

This paper studies the implications of central bank credibility for long-run inflation and inflation dynamics. We introduce central bank lack of commitment into a standard non-linear New Keynesian economy with sticky-price monopolistically competitive firms. Inflation is driven by the...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014350743

Money supply determination process for Japan

Ongan, Serdar; Gocer, Ismet - 2023

This study re-investigates the money supply determination process for Japan. The methodology of this study, which differs from previous studies, is constructed on the assumption of potential nonlinear (asymmetric) relations between money supply and monetary base via money multiplier. To this...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014316628

If "money matters", what about the monetary base?

Congdon, Tim - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014338584

Some unconventional properties of New Keynesian DSGE Models

Heijdra, Ben J.; Kwaak, Christiaan van der - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014314646

Climate change and monetary policy

Ohtaki, Eisei - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014342165

Bitcoin and money supply relationship : An analysis of selected country economies

Mert, Nilcan; Timur, Mustafa Caner - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015120956

Quantitative easing in Japan : a critical evaluation

Carment, Luciano - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015603719

Milton Friedman and nominal income targeting

Horan, Patrick - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015401040

Not so easy : why quantitative easing is inappropriate for South Africa

Fowkes, David - 2022

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013166926

Temporal Variation in the Interest-Rate Response to Money Announcements

Roley, Vernon Vance; Wheatley, Simon M. - 2022

A number of studies find significant temporal variation in the interest-rate response to money announcement surprises. An unresolved question, however, is whether the response changes immediately as different policy regimes are adopted, or whether the change is gradual reflecting the...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013310144

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Temporal Variation in the Interest-Rate Response to Money Announcements

Roley, V. Vance - 1990

Book / Working Paper

Liquidity Effects, Monetary Policy, and the Business Cycle

Eichenbaum, Martin S.; Christiano, Lawrence J. - 2022

This paper presents new empirical evidence to support the hypothesis that positive money supply shocks drive short-term interest rates down. We then present a quantitative, general equilibrium model which is consistent with the hypothesis. The two key features of our model are that (i) money...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013324130

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Liquidity Effects, Monetary Policy, and the Business Cycle

Eichenbaum, Martin - 1992

Book / Working Paper

Efficient rules for monetary policy

Ball, Laurence M. - 1999

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10001521364

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Efficient rules for monetary policy

Ball, Laurence M. - 1997

Book / Working Paper

Efficient Rules for Monetary Policy

Ball, Laurence M. - 2022

Book / Working Paper

Efficient Rules for Monetary Policy

Ball, Laurence M. - 2003

Book / Working Paper

Efficient Rules for Monetary Policy

Ball, Laurence - 1997

Book / Working Paper

Efficient rules for monetary policy

Ball, Laurence M. - 1997

Book / Working Paper

Did doubling reserve requirements cause the 1937-38 recession? : new evidence on the impact of reserve requirements on bank reserve demand and lending

Calomiris, Charles W.; Mason, Joseph R.; Wheelock, David C. - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014477429

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Did doubling reserve requirements cause the 1937-38 recession? : new evidence on the impact of reserve requirements on bank reserve demand and lending

Calomiris, Charles W.; Mason, Joseph R.; Wheelock, David C. - 2022

Book / Working Paper

Did Doubling Reserve Requirements Cause the 1937-38 Recession? New Evidence on the Impact of Reserve Requirements on Bank Reserve Demand and Lending

Calomiris, Charles W.; Mason, Joseph R.; Wheelock, David C. - 2022

Book / Working Paper

The narrow channel of quantitative easing : evidence from YCC down under

Lucca, David O.; Wright, Jonathan H. - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014535438

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The Narrow Channel of Quantitative Easing : Evidence from YCC Down Under

Lucca, David O.; Wright, Jonathan H. - 2022

Book / Working Paper

The narrow channel of quantitative easing : evidence from YCC down under

Lucca, David O.; Wright, Jonathan H. - 2022

Book / Working Paper

The Narrow Channel of Quantitative Easing : Evidence from YCC Down Under

Lucca, David O.; Wright, Jonathan H. - 2022

Book / Working Paper

Money Stock Control with Reserve and Interest Rate Instruments Under Rational Expectations

McCallum, Bennett T.; Hoehn, James G. - 2022

This paper conducts a theoretical comparison of the potential effectiveness, in terms of money stock controllability, of interest rate and reserve instruments. Whereas previous studies have been basically static, the present analysis is carried out in the context of a dynamic macroeconomic model...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013294694

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Money Stock Control with Reserve and Interest Rate Instruments Under Rational Expectations

McCallum, Bennett T. - 1982

Book / Working Paper

The Expectations Trap Hypothesis

Christiano, Lawrence J.; Gust, Christopher J. - 2022

We explore a hypothesis about the take-off in inflation that occurred in the early 1970s. According to the expectations trap hypothesis, the Fed was pushed into producing the high inflation out of a fear of violating the public's inflation expectations. We compare this hypothesis with the...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013294769

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The Expectations Trap Hypothesis

Christiano, Lawrence J. - 2000

Book / Working Paper

Two Papers on the Volatility of Money Stock Targeting

Tinsley, Peter A.; Von zur Mühlen, Peter; Fries, Gerhard - 2022

This paper introduces an empirical measure of the cost of allocating money market volatility between the money stock and the Federal funds rate, the principal purpose being to devise a framework for data-based measures of the short-run implied by alternative operating procedures

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013403837

Money Market Impacts of Alternative Operating Procedures

Tinsley, Peter A.; Von zur Mühlen, Peter; Fries, Gerhard; … - 2022

This paper, written for a Federal Reserve Staff Review of Monetary Control Procedures, explores the short-run volatility consequences of money stock targeting procedures under current (1981) alternative operating procedures. Conclusions include: the odds are at least two to one that a portion of...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013403845

Controlling Inflation With Interest Rate Rules in Models with Sticky Prices

Von zur Mühlen, Peter - 2022

This paper examines the properties of interest rate rules aimed at controlling aggregate price inflation. Policies are compared in two models having either flexible or sticky inflation The latter is assumed to derive from a traditional, adaptive-expectations augmented Phillips curve. The...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013404057

How can a central bank exit quantitative easing without rapidly shrinking its balance sheet?

Tanaka, Atsushi - 2022

An important question for the major central banks of the industrialized world is how to design desirable strategies to exit quantitative easing (QE). At the exit, if a central bank needs to reduce rapidly the liquidity created by its balance sheet expansion, issuing new interest-bearing...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013269375

Central bank digital currency : a review and some macro-financial implications

Chen, Hongyi; Siklos, Pierre L. - 2022

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013455937

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Central bank digital currency : a review and some macro-financial implications

Chen, Hongyi; Siklos, Pierre L. - 2022

Book / Working Paper

State-Dependent Effects of the Unconventional Monetary Policy in Stock Markets

Shirota, Toyoichiro - 2022

This study analyzes the state-dependent effect of the Bank of Japan (BoJ)’s intervention in stock markets from 2013 to 2017. A causal inference on such intervention is difficult because of the self-selective behavior of central banks. To address this problem, I apply the propensity score...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014079992

A portfolio balance approach to Euro-area money demand in a time-varying environment

Hall, Stephen G.; Hondroyiannis, George B.; Swamy, … - 2022

As part of its monetary policy strategy, the European Central Bank has formulated a reference value for M3 growth. A pre-requisite for the use of a reference value for M3 growth is the existence of a stable demand function for that aggregate. However, a large empirical literature has emerged...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014080552

Hedging quantitative easing

Melia, Adrian; Song, Xiaojing; Tippett, Mark; Burg, … - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014547880

The performance of emerging markets during the Fed's easing and tightening cycles : a cross-country resilience analysis

Aizenman, Joshua; Park, Donghyun; Qureshi, Irfan A.; … - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015076323

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The Performance of Emerging Markets During The Fed's Easing and Tightening Cycles : A Cross-Country Resilience Analysis

Aizenman, Joshua; Park, Donghyun; Qureshi, Irfan A.; … - 2024

Book / Working Paper

Unexpected supply effects of quantitative easing and tightening

D'Amico, Stefania; Seida, Tim - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014528028

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Unexpected Supply Effects of Quantitative Easing and Tightening

D'Amico, Stefania - 2020

Book / Working Paper

Forecasting annual inflation using weekly money supply

Ooft, Gavin; Bhaghoe, Sailesh; Franses, Philip Hans - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014518674

Global liquidity effect of quantitative easing on emerging markets

Balcilar, Mehmet; Usman, Ojonugwa; Wohar, Mark E.; … - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015142092

Tangible quantitative easing

Campbell, Jeffrey R. - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015206980

Is money supply endogenous a Markov-switch exploration in the zero lower bound interest rate in the USA

Buthelezi, Eugene Msizi - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015437358

Quantitative easing and quantitative tightening : the money channel

Kumhof, Michael; Salgado-Moreno, Mauricio - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014580506

A latticework of inflation models

Mayer, Thomas - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014580712

Monetary policy instruments and inflation in Nigeria : a revisit of FAVAR

Akande, Emmanuel O.; Dandaura, Jeremiah D.; Akanni, Elijah - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014479291

Optimal fiscal and monetary policy under sticky prices

Schmitt-Grohé, Stephanie - 2001

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013423527

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Optimal fiscal and monetary policy under sticky prices

Schmitt-Grohé, Stephanie - 2001

Book / Working Paper

Optimal Fiscal and Monetary Policy Under Sticky Prices

Schmitt-Grohé, Stephanie; Uribe, Martín - 2021

Book / Working Paper

Optimal Fiscal and Monetary Policy Under Sticky Prices

Schmitt-Grohé, Stephanie; Uribe, Martín - 2008

Book / Working Paper

The Impact of Quantitative Easing on Inequality in Japan

Yuksel, U. Furkan - 2021

This paper studies the distributional impact of unconventional monetary policy in Japan afterthe 2008 financial crisis. I use a structural vector autoregression model to estimate the impactof quantitative easing on income inequality. The results show that quantitative easing hasincreased...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013241633