Search Results
Showing results 1 to 10 of approximately 147.
(refine search)
Journal Article
Chinese Foreign Exchange Reserves and the U.S. Economy
Neely, Christopher J.
(2016)
China?s very substantial foreign exchange reserves have declined precipitously and the Chinese policy corrections may impact the U.S. economy.
Economic Synopses
, Issue 9
, Pages 1-2
Working Paper
Supply and demand shifts of shorts before Fed announcements during QE1–QE3
Planchon, Jade; McInish, Thomas H.; Neely, Christopher J.
(2020-12-17)
Cohen, Diether, and Malloy (Journal of Finance, 2007), find that shifts in the demand curve predict negative stock returns. We use their approach to examine changes in supply and demand at the time of FOMC announcements. We show that shifts in the demand for borrowing Treasuries and agencies predict quantitative easing. A reduction in the quantity demanded at all points along the demand curve predicts expansionary quantitative easing announcements.
Working Papers
, Paper 2020-051
Working Paper
Monetary Policy and Economic Performance since the Financial Crisis
Caldara, Dario; Gagnon, Etienne; Martinez-Garcia, Enrique; Neely, Christopher J.
(2020-08-27)
We review macroeconomic performance over the period since the Global Financial Crisis and the challenges in the pursuit of the Federal Reserve’s dual mandate. We characterize the use of forward guidance and balance sheet policies after the federal funds rate reached the effective lower bound. We also review the evidence on the efficacy of these tools and consider whether policymakers might have used them more forcefully. Finally, we examine the post-crisis experience of other major central banks with these policy tools.
Finance and Economics Discussion Series
, Paper 2020-065
Working Paper
Is inflation an international phenomenon?
Rapach, David E.; Neely, Christopher J.
(2008)
Common shocks, similarities in central bank reaction functions, and international trade potentially produce common components in international inflation rates. This paper characterizes such links in international inflation rates with a dynamic latent factor model that decomposes inflation for 65 countries into world, regional, and idiosyncratic components. The world component accounts for 34% of inflation variability on average across countries, although the importance of this global factor differs substantially across countries. Variables that reflect policy as well as economic and financial ...
Working Papers
, Paper 2008-025
Journal Article
Financial Engineering Versus Cancer
Neely, Christopher J.
(2015)
If financial engineering can distribute the pecuniary risk of medical research, then it can play a role in curing cancer.
Economic Synopses
, Issue 18
Journal Article
Unwinding the current account deficit
Neely, Christopher J.
(2005-05)
International Economic Trends
, Issue May
Journal Article
The Asset Holdings of the Bank of Japan
Neely, Christopher J.
(2019-07-15)
The Bank of Japan purchases large amounts of Japanese government bonds, enabling it to control long-term bond yields.
Economic Synopses
, Issue 17
Working Paper
How Persistent Are Unconventional Monetary Policy Effects?
Neely, Christopher J.
(2020-11-08)
This paper argues that one cannot precisely estimate the persistence of unconventional monetary policy (UMP) effects, especially with short samples and few observations. To make this point, we illustrate that the most influential model on the topic exhibits structural instability, and sensitivity to specification and outliers that render the conclusions unreliable. Restricted models that respect more plausible asset return predictability are more stable and imply that UMP shocks were persistent. Estimates of the dynamic effects of shocks should respect the limited predictability in asset ...
Working Papers
, Paper 2014-04
Working Paper
Target zones and conditional volatility: the role of realignments
Neely, Christopher J.
(1998)
This paper examines the relationship between the conditional volatility of target zone exchange rates and realignments of the system. To investigate this question, modified jump diffusion Generalized Autoregressive Conditional Heteroskedasticity (GARCH) and absolute value GARCH models are fit to six exchange rates of the Exchange Rate Mechanism (ERM) of the European Monetary System (EMS). Time-varying jump probability and absolute value GARCH models are effective in improving the fit of jump-diffusion models on target zone data. There is some evidence that conditional volatility is higher ...
Working Papers
, Paper 1994-008
Working Paper
Monetary Policy and Economic Performance Since the Financial Crisis
Caldara, Dario; Gagnon, Etienne; Martinez-Garcia, Enrique; Neely, Christopher J.
(2020-08-28)
We review the macroeconomic performance over the period since the Global Financial Crisis and the challenges in the pursuit of the Federal Reserve’s dual mandate. We characterize the use of forward guidance and balance sheet policies after the federal funds rate reached the effective lower bound. We also review the evidence on the efficacy of these tools and consider whether policymakers might have used them more forcefully. Finally, we examine the post-crisis experience of other major central banks with these policy tools.
Globalization Institute Working Papers
, Paper 399
FILTER BY year
FILTER BY Bank
FILTER BY Series
Working Papers 66 items
Economic Synopses 29 items
Review 27 items
International Economic Trends 9 items
Monetary Trends 5 items
The Regional Economist 5 items
On the Economy 2 items
Finance and Economics Discussion Series 1 items
Globalization Institute Working Papers 1 items
National Economic Trends 1 items
Working Paper Series 1 items
show more (6)
show less
FILTER BY Content Type
Journal Article 76 items
Working Paper 69 items
FILTER BY Author
Weller, Paul A. 14 items
Mizrach, Bruce 8 items
Rapach, David E. 6 items
Caldara, Dario 5 items
Gagnon, Etienne 5 items
Martinez-Garcia, Enrique 5 items
Laurent, Sebastien 4 items
McInish, Thomas H. 4 items
Planchon, Jade 4 items
Emmons, William R. 3 items
Fawley, Brett W. 3 items
Lahaye, Jerome 3 items
Bauer, Michael D. 2 items
Bhattarai, Saroj 2 items
Erdemlioglu, Deniz 2 items
Guo, Hui 2 items
Ivanova, Yuliya 2 items
Karson, Evan 2 items
Sarno, Lucio 2 items
http://fedora:8080/fcrepo/rest/objects/authors/ 2 items
Beine, Michel 1 items
Bibinger, Markus 1 items
Boudt, Kris 1 items
Bowman, Robert G. 1 items
Bullard, James B. 1 items
Chan, Kam Fong 1 items
Corbae, Dean 1 items
Dey, S. Rubun 1 items
Dittmar, Robert 1 items
Dueker, Michael J. 1 items
Famiglietti, Matthew 1 items
Gradojevic, Nikola 1 items
Guidolin, Massimo 1 items
Hauke, Justin P. 1 items
Higbee, Jason 1 items
Lakdawala, Aeimit K. 1 items
Palm, Franz C. 1 items
Roy, Amlan 1 items
Sercu, Piet 1 items
Tu, Jun 1 items
Ulrich, Joshua M. 1 items
Wauters, Marjan 1 items
Wheelock, David C. 1 items
Whiteman, Charles H. 1 items
Winkelmann, Lars 1 items
Winters, Drew B. 1 items
Wood, Geoffrey E. 1 items
Zhou, Guofu 1 items
show more (44)
show less
FILTER BY Jel Classification
E52 17 items
E58 13 items
G12 7 items
E44 6 items
F31 6 items
C30 5 items
E31 5 items
E32 5 items
E43 5 items
E47 5 items
G14 5 items
E4 4 items
E51 4 items
E61 4 items
G18 4 items
G01 3 items
G1 3 items
G11 3 items
C14 2 items
C32 2 items
F3 2 items
F32 2 items
G15 2 items
C1 1 items
C13 1 items
C22 1 items
C58 1 items
E3 1 items
E59 1 items
E62 1 items
F37 1 items
F42 1 items
F44 1 items
F65 1 items
G17 1 items
G23 1 items
G29 1 items
H62 1 items
show more (33)
show less
FILTER BY Keywords
Monetary policy 29 items
Foreign exchange 26 items
Forecasting 16 items
Foreign exchange rates 13 items
quantitative easing 12 items
COVID-19 10 items
Banks and banking, Central 7 items
Interest rates 6 items
Federal Reserve 6 items
effective lower bound 6 items
Prices 5 items
VAR 5 items
good deal 5 items
large-scale asset purchase 5 items
structural breaks 5 items
balance sheet policies 5 items
forward guidance 5 items
Agency securities 4 items
Bond market 4 items
Global Financial Crisis 2007–09 4 items
Inflation (Finance) 4 items
Large-Scale Asset Purchases (LSAP) 4 items
Treasury bond short interest 4 items
Treasury securities 4 items
time series analysis 4 items
structural changes 4 items
Bonds 3 items
Capital movements 3 items
Financial crises 3 items
Great Recession 3 items
International finance 3 items
Programming (Mathematics) 3 items
Stock - Prices 3 items
Trade 3 items
inflation 3 items
Exchange rate 3 items
Adaptive markets hypothesis 2 items
Carry trade 2 items
China 2 items
Econometric models 2 items
Efficient markets hypothesis 2 items
European Monetary System (Organization) 2 items
Fiscal policy 2 items
Foreign exchange - Law and legislation 2 items
Government securities 2 items
High-frequency data 2 items
Money supply 2 items
Petroleum industry and trade 2 items
Risk 2 items
Statistics 2 items
Stochastic Discount Factor 2 items
Technical analysis 2 items
Technical trading 2 items
Yen, Japanese 2 items
central banks 2 items
event study 2 items
federal funds rate 2 items
unconventional monetary policy 2 items
Assets (Accounting) 1 items
Bank of Japan 1 items
Bank reserves 1 items
Banks and banking, Central - Japan 1 items
Budget 1 items
Budget deficits 1 items
Cancer 1 items
Capital assets pricing model 1 items
Consumption (Economics) 1 items
Credit 1 items
Debt 1 items
Deficit financing 1 items
Deflation (Finance) 1 items
Devaluation of currency 1 items
Dollar, American 1 items
Dollar, Canadian 1 items
Econometrics 1 items
Economic conditions - Japan 1 items
Economic forecasting 1 items
Electronic commerce 1 items
Electronic funds transfers 1 items
European Union 1 items
Federal Open Market Committee 1 items
Federal Reserve Bank of St. Louis 1 items
Federal Reserve System 1 items
Finance 1 items
Finance, Public 1 items
Foreign exchange exposure 1 items
Foreign exchange market 1 items
Futures 1 items
Gasoline 1 items
Germany 1 items
Gold 1 items
Gold standard 1 items
Gordon growth 1 items
Greece 1 items
India 1 items
International economic relations 1 items
Japan 1 items
Macro 1 items
Market component portfolios 1 items
Medical research risk 1 items
Mexico 1 items
Monetary policy - United States 1 items
Mortgages 1 items
North American Free Trade Agreement 1 items
Organisation for Economic Co-operation and Development 1 items
Payment systems 1 items
Peso, Mexican 1 items
Petroleum products - Prices 1 items
Russia 1 items
Russian invasion of Ukraine 1 items
Scheduled macroeconomic announcements 1 items
Securities 1 items
Stock exchanges 1 items
Stocks 1 items
Strategic Petroleum Reserve 1 items
Switzerland 1 items
Systematic cojumps 1 items
Systemic risk 1 items
Taxation 1 items
Ukraine 1 items
Unemployment 1 items
central bank 1 items
central banks and their policies 1 items
commodity prices 1 items
consumer price index 1 items
coronavirus 1 items
current account 1 items
dollar. 1 items
dual mandate 1 items
earnings growth 1 items
economic research 1 items
emergency lending 1 items
equities 1 items
euro 1 items
fiscal 1 items
gasoline prices 1 items
global financial crisis 1 items
heat wave 1 items
intraday 1 items
jumps 1 items
liquidity 1 items
long-term yield 1 items
macroeconomic performance 1 items
market microstructure 1 items
market-wide jumps 1 items
meteor shower 1 items
monetary 1 items
news impact 1 items
oil prices 1 items
options 1 items
periodicity 1 items
personal consumption expenditures (PCE) 1 items
price controls 1 items
price jump 1 items
realized 1 items
stimulus 1 items
stock prices 1 items
transmission 1 items
treasury 1 items
volatility 1 items
volatility jump. 1 items
yen 1 items
show more (168)
show less