منابع مشابه
Monetary Policy and the Great Moderation Monetary Policy and the Great Moderation
Increased focus on price stability by a discretionary central bank reduces output and price volatility in a model with rationally inattentive …rms. The volatility reduction can be arbitrarily large, e.g., imply a 'Great Moderation', and is particularly pronounced when …rms can process information almost perfectly. The model-implied vector auto-regressive (VAR) dynamics are consistent with the e...
متن کاملMonetary Policy and the Great Moderation
Increased focus on price stability by a discretionary central bank reduces output and price volatility in a model with rationally inattentive rms. The volatility reduction can be arbitrarily large, e.g., imply a Great Moderation, and is particularly pronounced when rms can process information almost perfectly. The model-implied vector auto-regressive (VAR) dynamics are consistent with the e...
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The Great Inflation of the 1970s was an international phenomenon. We study whether monetary authorities in the G7 countries were changing their responses to inflation in a similar manner during and following the Great Inflation era. Our results suggest that the common to the G7 countries inflation pattern during the Great Inflation period is associated with a common pattern in the monetary poli...
متن کاملMonetary Policy in the Great Recession
This paper reviews the monetary policy in Japan during the “great recession.” The paper focuses especially on the conduct of monetary policy when the ZIRP (zero interest rate policy) was in place. The nominal call rate was virtually zero, but we find the monetary policy was not that expansionary in some other dimensions. We examine the long-run relation between the real M2+CD and the real GDP, ...
متن کاملInternational monetary coordination and the great deviation
Research in the early 1980s found that the gains from international coordination of monetary policy were quantitatively small compared to simply getting domestic policy right. That prediction turned out to be a pretty good description of monetary policy in the 1980s, 1990s, and until recently. Because this balanced international picture has largely disappeared, the 1980s view about monetary pol...
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ژورنال
عنوان ژورنال: China Quarterly of International Strategic Studies
سال: 2015
ISSN: 2377-7400,2377-7419
DOI: 10.1142/s237774001550013x