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Displaying results 1 to 3 of 3.

  1. Determinacy and learnability of equilibrium in a small open economy with sticky wages and prices
    Author: Araujo, Eurilton
    Published: 2014
    Publisher:  Banco Central do Brasil, Brasília

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    Keine Speicherung
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    No inter-library loan
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    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Working paper series / Banco Central do Brasil ; 376
    Subjects: determinacy; inflation; learnability; monetary policy rules
    Scope: Online Ressource (60 S.), graph. Darst.
  2. Monetary policy, financial conditions, and financial stability
    Author: Adrian, Tobias; Liang, Jean Nellie
    Published: 2014
    Publisher:  Federal Reserve Bank of New York, New York, NY

    In the conduct of monetary policy, there exists a risk-return trade-off between financial conditions and financial stability, which complements monetary policy's traditional trade-off between inflation and real activity. The trade-off exists even if... more

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 207 (690)
    Inter-library loan:
    No inter-library loan

     

    In the conduct of monetary policy, there exists a risk-return trade-off between financial conditions and financial stability, which complements monetary policy's traditional trade-off between inflation and real activity. The trade-off exists even if monetary policy does not target financial stability considerations independently of its inflation and real activity goals, because risks to future financial stability are increased by the buildup of financial vulnerabilities from persistent accommodative monetary policy when the economy is close to potential. We review monetary policy transmission channels and financial frictions that give rise to this trade-off between financial conditions and financial stability, within a monitoring program across asset markets, banking firms, shadow banking, and the nonfinancial sector. We focus on vulnerabilities that affect monetary policy's risk-return trade-off, including 1) pricing of risk, 2) leverage, 3) maturity and liquidity mismatch, and 4) interconnectedness and complexity. We also discuss the extent to which structural and time-varying macroprudential policies can counteract the buildup of vulnerabilities, thus mitigating monetary policy's risk-return trade-off.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/120805
    Series: Staff report / Federal Reserve Bank of New York ; 690
    Subjects: Geldpolitische Transmission; Risikofreude; Finanzkrise; Finanzmarktaufsicht; Stabilisierungspolitik; Kosten-Nutzen-Analyse; USA; leaning against the wind; risk-taking channel of monetary policy; monetary policy transmission; monetary policy rules; financial stability; financial conditions; macroprudential policy
    Scope: Online-Ressource (35 S.), graph. Darst.
  3. Drifting inflation targets and monetary stagflation
    Author: Khan, Shujaat; Knotek, Edward S.
    Published: 2014
    Publisher:  Federal Reserve Bank of Cleveland, Cleveland, Ohio

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    Keine Speicherung
    Inter-library loan:
    No inter-library loan
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    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Working paper / Federal Reserve Bank of Cleveland ; 1426
    Subjects: stagflation; inflation; time-varying inflation target; monetary policy rules; imperfect information
    Scope: Online-Ressource (41 S.), graph. Darst.