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Bank of Japan's Quantitative and Credit Easing

Bank of Japan's Quantitative and Credit Easing »

Source: Bank of Japan's Quantitative and Credit Easing : Are they Now More Effective

Volume/Issue: 2012/2

Series: IMF Working Papers

Author(s): Ugo Fasano-Filho , Qing Wang , and Pelin Berkmen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2012

ISBN: 9781475502473

Keywords: Monetary Policy, conomic Activity, Inflation, price stability, monetary fund, central bank

This paper asks whether the BoJ's recent experience with unconventional monetary easing has been effective in supporting economic activity and inflation. Using a structural VAR model, the paper finds some evidence...

Credible Commitment to Optimal Escape from a Liquidity Trap

Credible Commitment to Optimal Escape from a Liquidity Trap »

Source: Credible Commitment to Optimal Escape from a Liquidity Trap : The Role of the Balance Sheet of an Independent Central Bank

Volume/Issue: 2004/162

Series: IMF Working Papers

Author(s): Olivier Jeanne , and Lars Svensson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2004

ISBN: 9781451857900

Keywords: Zero lower bound for interest rates, central bank, inflation, money supply, price level, Open Economy Macroeconomics,

An independent central bank can manage its balance sheet and its capital so as to commit itself to a depreciation of its currency and an exchange rate peg. This way, the central bank can implement the optimal escap...

Gauging Risks for Deflation

Gauging Risks for Deflation »

Source: Gauging Risks for Deflation

Volume/Issue: 2009/01

Series: IMF Staff Position Notes

Author(s): Jörg Decressin , and Douglas Laxton

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 January 2009

ISBN: 9781589067295

Keywords: Fiscal policy, monetary policy, interest rates, exchange rate, central banks, central bank

...

Greater Monetary Policy Transparency for the G3

Greater Monetary Policy Transparency for the G3 »

Source: Greater Monetary Policy Transparency for the G3 : Lessons From Full-Fledged Inflation Targeters

Volume/Issue: 2003/218

Series: IMF Working Papers

Author(s): Mark Stone

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2003

ISBN: 9781451875164

Keywords: monetary policy framework, central bank, inflation, inflation target,

The experience of full-fledged inflation targeting (FFIT) countries is used here to shed light on the costs and benefits of greater monetary policy transparency for the G3. For the United States and the euro area,...

How to Fight Deflation in a Liquidity Trap

How to Fight Deflation in a Liquidity Trap »

Source: How to Fight Deflation in a Liquidity Trap : Committing to Being Irresponsible

Volume/Issue: 2003/64

Series: IMF Working Papers

Author(s): Gauti Eggertsson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2003

ISBN: 9781451848588

Keywords: liquidity traps, zero bound on nominal interest rates, inflation, money supply, central bank, nominal interest rate, zero bound on nominal rates,

I model deflation, at zero nominal interest rate, in a microfounded general equilibrium model. I show that deflation can be analyzed as a credibility problem if the government has only one policy instrument, money...

Monetary Policy in the New Normal

Monetary Policy in the New Normal »

Volume/Issue: 2014/3

Series: Staff Discussion Notes

Author(s): Tamim Bayoumi , Giovanni Dell'Ariccia , Karl Habermeier , Tommaso Mancini Griffoli , and Fabian Valencia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 April 2014

DOI: http://dx.doi.org/10.5089/9781475561784.006

ISBN: 9781475561784

Keywords: Cross country analysis, Central bank autonomy, Central bank independence, Central banks, Financial stability, Monetary policy, Macroprudential Policy, inflation, central bank, monetary fund

The proposed SDN would take stock of the current debate on the shape that monetary policy should take after the crisis. It revisits the pros and cons of expanding the objectives of monetary policy, the merits of tu...

Rethinking Macro Policy II
			: Getting Granular

Rethinking Macro Policy II : Getting Granular »

Volume/Issue: 2013/3

Series: Staff Discussion Notes

Author(s): Olivier Blanchard , Giovanni Dell'Ariccia , and Paolo Mauro

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 April 2013

DOI: http://dx.doi.org/10.5089/9781484363478.006

ISBN: 9781484363478

Keywords: Financial stability, Fiscal consolidation, Central banks and their policies, Central banks, Capital flows, Public debt, Stabilization measures, Fiscal policy, Inflation targeting, Monetary policy

This note explores how the economic thinking about macroeconomic management has evolved since the crisis began. It discusses developments in monetary policy, including unconventional measures; the challenges associ...

Gauging Risks for Deflation

Gauging Risks for Deflation »

Volume/Issue: 2009/01

Series: IMF Staff Position Notes

Author(s): Jörg Decressin , and Douglas Laxton

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 January 2009

DOI: http://dx.doi.org/10.5089/9781589067295.004

ISBN: 9781589067295

Keywords: Fiscal policy, monetary policy, interest rates, exchange rate, central banks, central bank

...

Bank of Japan's Quantitative and Credit Easing
			: Are they Now More Effective

Bank of Japan's Quantitative and Credit Easing : Are they Now More Effective »

Volume/Issue: 2012/2

Series: IMF Working Papers

Author(s): Ugo Fasano-Filho , Qing Wang , and Pelin Berkmen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2012

DOI: http://dx.doi.org/10.5089/9781475502473.001

ISBN: 9781475502473

Keywords: Monetary Policy, conomic Activity, Inflation, price stability, monetary fund, central bank

This paper asks whether the BoJ's recent experience with unconventional monetary easing has been effective in supporting economic activity and inflation. Using a structural VAR model, the paper finds some evidence...

Credible Commitment to Optimal Escape from a Liquidity Trap
			: The Role of the Balance Sheet of an Independent Central Bank

Credible Commitment to Optimal Escape from a Liquidity Trap : The Role of the Balance Sheet of an Independent Central Bank »

Volume/Issue: 2004/162

Series: IMF Working Papers

Author(s): Olivier Jeanne , and Lars Svensson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2004

DOI: http://dx.doi.org/10.5089/9781451857900.001

ISBN: 9781451857900

Keywords: Zero lower bound for interest rates, central bank, inflation, money supply, price level, Open Economy Macroeconomics,

An independent central bank can manage its balance sheet and its capital so as to commit itself to a depreciation of its currency and an exchange rate peg. This way, the central bank can implement the optimal escap...