منابع مشابه
Monetary Aggregates and Monetary Policy
This is a special conference for the Federal Reserve Bank of Boston, and for me personally. The role of monetary aggregates in monetary policy was intensely controversial when I joined the staff of the Board of Governors in May 1969. I was immediately asked to join the staff of the newly formed FOMC Committee on the Directive. Governor Sherman Maisel chaired that committee; the other two member...
متن کاملModeling U . S . Inflation Dynamics : Persistence and Monetary Policy Regimes
The fact that U.S. inflation has been remarkably low and stable over the past two decades prompts questions as to whether or not inflation persistence has changed to a lower level too. This paper employs the recently developed structural stability test with multiple regime shifts to model U.S. inflation dynamics over the past half century. Our empirical results suggest that the persistence of i...
متن کاملThe Impact of Domestic and Foreign Monetary Policy on Iran\'s economy: Global Modeling
One of the striking features of the business cycles is the patterns of co-movement of output, inflation, interest rates, and real equity prices across countries. This paper empirically examines the effects of domestic and foreign monetary policies on Iranchr('39')s macroeconomic variables (including real production, inflation, short-term interest rate, and real exchange rate) using quarterly da...
متن کاملThe Effectiveness of Monetary Policy in Africa: Modeling the Impact of Financial Inclusion
Abstract This study uses annual data over the period 2005-2014 and the Panel VECM approach to examine financial inclusion and monetary policy effectiveness in Africa. The study shows that financial inclusion and monetary policy effectiveness are linked by a set of long-run relationships. Policy reaction to the positive financial inclusion shock is not significant. Policy reaction to the posit...
متن کاملMonetary Policy and Learning
Federal Reserve Bank of Atlanta E C O N O M I C R E V I E W Third Quarter 2003 I t is a great pleasure to attend this conference on monetary policy and learning and enjoy the many excellent papers presented here. I am very grateful for the opportunity to speak to this distinguished audience of researchers and policymakers, and I hope my remarks will stimulate some further discussion. I will tal...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2009
ISSN: 1556-5068
DOI: 10.2139/ssrn.1504537