Search Results

You are looking at 1 - 10 of 67 items

  • Keyword: Optimal monetary policy x
Clear All Modify Search
Advancing the Frontiers of Monetary Policy

Advancing the Frontiers of Monetary Policy »

Series: Books

Author(s): Tobias Adrian , Douglas Laxton , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

DOI: http://dx.doi.org/10.5089/9781484325940.071

ISBN: 9781484325940

Keywords: Inflation Targeting, Monetary Policy, Central Banking, Central Bank Communications, Financial Stability, Forward Guidance, Optimal Control

Inflation-forecast targeting is state of the art for monetary policy. This book explores first principles, including managing short-term policy trade-offs. The book also...

Optimal Monetary Policy with Overlapping Generations of Policymakers

Optimal Monetary Policy with Overlapping Generations of Policymakers »

Source: Optimal Monetary Policy with Overlapping Generations of Policymakers

Volume/Issue: 2010/32

Series: IMF Working Papers

Author(s): Maral Shamloo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2010

ISBN: 9781451962642

Keywords: Monetary Policy Committee, Commitment, Discretion, Optimal Monetary Policy, inflation, monetary authority, monetary economics,

In this paper I study the effect of imperfect central bank commitment on inflationary outcomes. I present a model in which the monetary authority is a committee that consists of members who serve overlapping, finit...

Optimal Monetary and Fiscal Policy with Limited Asset Market Participation

Optimal Monetary and Fiscal Policy with Limited Asset Market Participation »

Source: Optimal Monetary and Fiscal Policy with Limited Asset Market Participation

Volume/Issue: 2009/137

Series: IMF Working Papers

Author(s): Sven Jari Stehn

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2009

ISBN: 9781451872842

Keywords: rule-of-thumb consumers, government expenditure, optimal monetary policy, optimal fiscal policy., expenditure, government spending, public spending, Rule Of Thumb Consumers, Optimal Fiscal Policy,

This paper characterises the jointly optimal monetary and fiscal stabilisation policy in a new Keynesian model that allows for consumers who lacking access to asset markets consume their disposable income each peri...

Czech Magic

Czech Magic »

Source: Czech Magic : Implementing Inflation-Forecast Targeting at the CNB

Volume/Issue: 2017/21

Series: IMF Working Papers

Author(s): Kevin Clinton , Tibor Hlédik , Tomás Holub , Douglas Laxton , and Hou Wang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 January 2017

ISBN: 9781475572971

Keywords: Inflation targeting, Czech Republic, Central banks, Monetary policy, Forecasting models, Inflation Targeting, Monetary Policy, Optimal Control

This paper describes the CNB's experience implementing an inflation-forecast targeting (IFT) regime, and the building of a system for providing the economic information that policymakers need to implement IFT. The...

Dollarization, Monetary Policy, and the Pass-Through

Dollarization, Monetary Policy, and the Pass-Through »

Source: Dollarization, Monetary Policy, and the Pass-Through

Volume/Issue: 2002/188

Series: IMF Working Papers

Author(s): Alain Ize , and Eric Parrado

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2002

ISBN: 9781451859577

Keywords: optimal monetary policy, small open economy, inflation, monetary authorities, Open Economy Macroeconomics,

This paper explores how real dollarization (dollar indexing of wages), financial dollarization (dollar denomination of financial contracts), and monetary policy interact in a general equilibrium, new open-economy m...

Sectoral Labor Mobility and Optimal Monetary Policy*

Sectoral Labor Mobility and Optimal Monetary Policy* »

Source: Sectoral Labor Mobility and Optimal Monetary Policy

Volume/Issue: 2017/40

Series: IMF Working Papers

Author(s): Alessandro Cantelmo , and Giovanni Melina

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 March 2017

ISBN: 9781475584783

Keywords: Central banks and their policies, Labor mobility, Optimal monetary policy, durable goods, DSGE, Monetary Policy (Targets, Instruments, and Effects)

In an estimated two-sector New-Keynesian model with durable and nondurable goods, an inverse relationship between sectoral labor mobility and the optimal weight the central bank should attach to durables inflation...

Optimal Fiscal and Monetary Policy, Debt Crisis and Management*

Optimal Fiscal and Monetary Policy, Debt Crisis and Management* »

Source: Optimal Fiscal and Monetary Policy, Debt Crisis and Management

Volume/Issue: 2017/78

Series: IMF Working Papers

Author(s): Cristiano Cantore , Paul Levine , Giovanni Melina , and Joseph Pearlman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 March 2017

ISBN: 9781475590180

Keywords: Crisis management, Debt consolidation, Optimal fiscal-monetary policy, long-term debt, fiscal limits, Monetary Policy (Targets, Instruments, and Effects)

The initial government debt-to-GDP ratio and the government's commitment play a pivotal role in determining the welfare-optimal speed of fiscal consolidation in the management of a debt crisis. Under commitment, fo...

Should Unconventional Monetary Policies Become Conventional?*

Should Unconventional Monetary Policies Become Conventional?* »

Source: Should Unconventional Monetary Policies Become Conventional?

Volume/Issue: 2017/85

Series: IMF Working Papers

Author(s): Dominic Quint , and Pau Rabanal

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 March 2017

ISBN: 9781475591330

Keywords: United States, Banking, Western Hemisphere, Unconventional Monetary Policy, Optimal Rules, Time-Series Models, Monetary Policy (Targets, Instruments, and Effects)

The large recession that followed the Global Financial Crisis of 2008-09 triggered unprecedented monetary policy easing around the world. Most central banks in advanced economies deployed new instruments to affect...

Simple Monetary Rules Under Fiscal Dominance

Simple Monetary Rules Under Fiscal Dominance »

Source: Simple Monetary Rules Under Fiscal Dominance

Volume/Issue: 2007/271

Series: IMF Working Papers

Author(s): Michael Kumhof , Ricardo Nunes , and Irina Yakadina

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2007

ISBN: 9781451868340

Keywords: Optimal simple policy rules, inflation targeting, monetary authority, nominal interest rates,

Is aggressive monetary policy response to inflation feasible in countries that suffer from fiscal dominance? We find that if nominal interest rates are allowed to respond to government debt, even aggressive rules t...

Optimal Monetary Policy in a Small Open Economy Under Segmented Asset Markets and Sticky Prices

Optimal Monetary Policy in a Small Open Economy Under Segmented Asset Markets and Sticky Prices »

Source: Optimal Monetary Policy in a Small Open Economy Under Segmented Asset Markets and Sticky Prices

Volume/Issue: 2007/217

Series: IMF Working Papers

Author(s): Juan Pablo Medina Guzman , and Ruy Lama

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2007

ISBN: 9781451867817

Keywords: Optimal monetary policy, asset market segmentation, inflation, asset market, market segmentation, nominal interest rate,

This paper studies optimal monetary policy in a two-sector small open economy model under segmented asset markets and sticky prices. We solve the Ramsey problem under full commitment, and characterize the optimal m...