Proportionality and procedure of monetary policy-making

The dilemma of Rationality or Providing Efficiency in Monetary Policy Making: An Application of Arrow’s

Financial frictions inducted in the model is a new contribution to monetary economics. Herein, an analytical tool arranges monetary policymaking in the form of two steps procedure. In the first step, an appropriate amount of money supply should be assessed; and in the second step, that appropriate amount should be allocated to several sectors. The Central Bank obligates the step of assessment a...

Decision Making in Multi-Fiscal and Multi-Monetary Policy Measurements

Abstract – This paper presents a multiresolution-economic model which mediates data uncertainty by providing levels of discernment for decision making. Standard monetary and fiscal policy models use national income and national output as input variables, perform a stability analysis by balancing the equations, and assess the interest rate of the economy. These models typically assume that data ...

On Making Monetary Policy More Effective Domestically and Internationally

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...

The Impact of Monetary Policy on the Stock Market Returns and Instability: Comparison of Monetary Policy Tools in Iran

After the recent financial crisis, especially the financial crisis 2008, This raises the important question of what is the role of monetary policy in occurrence and  prevention of the financial  instability? so, this paper investigate the dynamics impact of monetary policy on the stock market returns and instability using Structural Vector Autoregression (SVARs) model During the period  1992:q2...