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Keywords:Banks and banking, Central 

Conference Paper
Monetary policy in the information economy

Proceedings - Economic Policy Symposium - Jackson Hole

Journal Article
Evolution, impact, and limitations of unusual central bank policy activism

In the United States and Europe, central banks have essentially been the only policymaking entities consistently willing and able to take bold measures to deal with an unusually complex set of national, regional, and global economic and financial challenges since the onset of the Great Recession and financial crisis. The author advocates for other agencies, in both the public and private sectors, to urgently work in conjunction with central bank policies. He states that it is critical that policymakers, business leaders, investors, and researchers alike understand better why so many ...
Review , Volume 94 , Issue July , Pages 243-264

Conference Paper
Comment from the floor

Proceedings - Economic Policy Symposium - Jackson Hole

Journal Article
Central bank structure, policy efficiency, and macroeconomic performance: exploring empirical relationships - commentary

Review , Volume 84 , Issue Jul , Pages 61-64

Journal Article
Slowdowns and recessions: what's been the government's role?

Business Review , Issue Oct , Pages 17-30

Journal Article
A private central bank: some olde English lessons

Review , Volume 66 , Issue Apr , Pages 12-22

Working Paper
Investment and interest rate policy: a discrete time analysis

This paper analyzes the restrictions necessary to ensure that the interest rate policy rule used by the central bank does not introduce local real indeterminacy into the economy. It conducts the analysis in a Calvo-style sticky price model. A key innovation is to add investment spending to the analysis. In this environment, local real indeterminacy is much more likely. In particular, all forward-looking interest rate rules are subject to real indeterminacy.
Working Papers (Old Series) , Paper 0320

Journal Article
Monetary policy and operating procedures in New Zealand

The Reserve Bank of New Zealand operates in a highly deregulated financial environment which lacks any interest rate regulation or reserve requirements. Yet the Reserve Bank has been able to implement effective monetary policy through a quantity-based procedure. This article analyzes the operating procedures of the Reserve Bank of New Zealand and the relatively small financial costs imposed by these procedures.
Economic Review , Volume 77 , Issue Sep , Pages 13-19

Journal Article
Central bank credibility

Major League Baseball Commissioner Bud Selig announced he would crack down on steroid use in baseball, hoping to stop players from doping. He was forced to discipline stars like Rafael Palmeiro, possibly hurting the game immediately, in order to develop a reputation for being tough on steroids. The Federal Reserve System has worked hard over the past few decades not only to lower inflation and keep it low, but also to convince the public that it is dedicated to delivering low inflation over the long haul. This Commentary explains why credibility is so important to monetary policymakers.
Economic Commentary , Issue Aug

Conference Paper
How forward-looking is optimal monetary policy?

We calculate optimal monetary policy rules for several variants of a simple optimizing model of the monetary transmission mechanism with sticky prices and/or wages. We show that robustly optimal rules can be represented by interest-rate feedback rules that generalize the celebrated proposal of Taylor (1993). Optimal rules, however, require that the current interest rate operating target depend positively on the recent past level of the operating target, and its recent rate of increase, in a way that is characteristic of estimated central bank reaction functions, but not of Taylor's proposal.
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anonymous 21 items

Martin, Antoine 12 items

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Goodfriend, Marvin 9 items

Walsh, Carl E. 9 items

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Monetary policy 184 items

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