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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 Rules and the U.S. Business Cycle

Monetary Policy Rules and the U.S. Business Cycle »

Source: Monetary Policy Rules and the U.S. Business Cycle : Evidence and Implications

Volume/Issue: 2004/164

Series: IMF Working Papers

Author(s): Pau Rabanal

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2004

ISBN: 9781451858020

Keywords: Switching Regime Models, Time-Varying Coefficients, Taylor Rule, inflation, central bank, nominal interest rate, real interest rate,

This paper estimates Taylor-type interest rates for the United States allowing for both time and state dependence. It provides evidence that the coefficients of the Taylor rule change significantly over time, and t...

Following Germany's Lead

Following Germany's Lead »

Source: Following Germany's Lead : Using International Monetary Linkages to Identify the Effect of Monetary Policy on the Economy

Volume/Issue: 2005/86

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2005

ISBN: 9781451861051

Keywords: forward looking bias, instrumental variables, inflation, central bank, nominal interest rates, real output, Mobility, Unemployment, and Vacancies: General,

Forward-looking behavior on the part of the monetary authority leads least squares estimates to understate the true growth consequences of monetary policy interventions. We present instrumental variables estimates...

The Cost Channel of Monetary Policy

The Cost Channel of Monetary Policy »

Source: The Cost Channel of Monetary Policy : Further Evidence for the United States and the Euro Area

Volume/Issue: 2003/149

Series: IMF Working Papers

Author(s): Pau Rabanal

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2003

ISBN: 9781451856910

Keywords: Price Puzzle, New Keynesian Models, Bayesian Methods, nominal interest rate, central bank, monetary economics, Bayesian Analysis, Simulation Methods, Price-Puzzle,

This paper estimates the importance of the cost channel of monetary policy in a New Keynesian model of the business cycle. A model with nominal rigidities is extended by assuming that a fraction of firms need to bo...

Russian Federation: Staff Report for the 2012 Article IV Consultation

Russian Federation: Staff Report for the 2012 Article IV Consultation »

Source: Russian Federation : Staff Report for the 2012 Article IV Consultation

Volume/Issue: 2012/217

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 August 2012

Language: Russian

ISBN: 9781475505962

Keywords: inflation, monetary policy, central bank, inflation targeting, gdp deflator, monetary fund, nominal interest rate, monetary authorities, foreign exchange, financial stability

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discuss...

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

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

DOI: http://dx.doi.org/10.5089/9781451848588.001

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 Rules and the U.S. Business Cycle
			: Evidence and Implications

Monetary Policy Rules and the U.S. Business Cycle : Evidence and Implications »

Volume/Issue: 2004/164

Series: IMF Working Papers

Author(s): Pau Rabanal

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2004

DOI: http://dx.doi.org/10.5089/9781451858020.001

ISBN: 9781451858020

Keywords: Switching Regime Models, Time-Varying Coefficients, Taylor Rule, inflation, central bank, nominal interest rate, real interest rate,

This paper estimates Taylor-type interest rates for the United States allowing for both time and state dependence. It provides evidence that the coefficients of the Taylor rule change significantly over time, and t...

Following Germany's Lead
			: Using International Monetary Linkages to Identify the Effect of Monetary Policy on the Economy

Following Germany's Lead : Using International Monetary Linkages to Identify the Effect of Monetary Policy on the Economy »

Volume/Issue: 2005/86

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2005

DOI: http://dx.doi.org/10.5089/9781451861051.001

ISBN: 9781451861051

Keywords: forward looking bias, instrumental variables, inflation, central bank, nominal interest rates, real output, Mobility, Unemployment, and Vacancies: General,

Forward-looking behavior on the part of the monetary authority leads least squares estimates to understate the true growth consequences of monetary policy interventions. We present instrumental variables estimates...

The Cost Channel of Monetary Policy
			: Further Evidence for the United States and the Euro Area

The Cost Channel of Monetary Policy : Further Evidence for the United States and the Euro Area »

Volume/Issue: 2003/149

Series: IMF Working Papers

Author(s): Pau Rabanal

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2003

DOI: http://dx.doi.org/10.5089/9781451856910.001

ISBN: 9781451856910

Keywords: Price Puzzle, New Keynesian Models, Bayesian Methods, nominal interest rate, central bank, monetary economics, Bayesian Analysis, Simulation Methods, Price-Puzzle,

This paper estimates the importance of the cost channel of monetary policy in a New Keynesian model of the business cycle. A model with nominal rigidities is extended by assuming that a fraction of firms need to bo...

Russian Federation
			: Staff Report for the 2012 Article IV Consultation

Russian Federation : Staff Report for the 2012 Article IV Consultation »

Volume/Issue: 2012/217

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 August 2012

Language: Russian

DOI: http://dx.doi.org/10.5089/9781475505962.002

ISBN: 9781475505962

Keywords: inflation, monetary policy, central bank, inflation targeting, gdp deflator, monetary fund, nominal interest rate, monetary authorities, foreign exchange, financial stability

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discuss...