Bankpolicies.com
Policies, Job Descriptions, Forms Your source for banking policies.
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Policies, Job Descriptions, Forms Your source for banking policies.
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Monetary Policy Insights
Analysis of Fed policy and interest rates from Laurence H. Meyer
www.macroadvisers.com
Analysis of Fed policy and interest rates from Laurence H. Meyer
www.macroadvisers.com
Free Currency Converter
Get the latest currency prices inc Charts and the latest news.
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Get the latest currency prices inc Charts and the latest news.
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Related Business Topics
B
Forecast-Based Monetary Policy
Working paper that analyzes the welfare consequences of delegating to the central bank the task of minimizing deviations of forecasts of goal variables from their target values.
www.bis.org
Working paper that analyzes the welfare consequences of delegating to the central bank the task of minimizing deviations of forecasts of goal variables from their target values.
www.bis.org
Measuring Monetary Policy Shocks in France, Germany and Italy: The Role of the Exchange Rate
Working paper that estimates the weight on the ECU exchange rate in France, Germany and Italy. Requires Acrobat Reader.
www.bis.org
Working paper that estimates the weight on the ECU exchange rate in France, Germany and Italy. Requires Acrobat Reader.
www.bis.org
Monetary Policy in an Estimated Optimisation-Based Model With Sticky Prices and Wages
Working paper that analyzes the welfare properties of various interest-rate rules for conducting monetary policy. Requires Acrobat Reader.
www.bis.org
Working paper that analyzes the welfare properties of various interest-rate rules for conducting monetary policy. Requires Acrobat Reader.
www.bis.org
Monetary Policy Operating Procedures in Industrial Countries
Working paper that reviews current monetary policy implementation procedures to highlight similarities and differences across countries.
www.bis.org
Working paper that reviews current monetary policy implementation procedures to highlight similarities and differences across countries.
www.bis.org
Output Gap Uncertainty: Does it Matter for the Taylor Rule?
Analysis of the effect of measurement error in the output gap on monetary policy rules.
www.bis.org
Analysis of the effect of measurement error in the output gap on monetary policy rules.
www.bis.org
Perceived Central Bank Intervention and Market Expectations: An Empirical Study of the Yen/Dollar Exchange Rate, 1993 - 1996
Working paper by Gabriele Galati and William Melick. Requires Acrobat Reader.
www.bis.org
Working paper by Gabriele Galati and William Melick. Requires Acrobat Reader.
www.bis.org
Sacrifice Ratios and the Conduct of Monetary Policy in Conditions of Low Inflation
Working paper by Palle Andersen and William Wascher. Requires Acrobat Reader.
www.bis.org
Working paper by Palle Andersen and William Wascher. Requires Acrobat Reader.
www.bis.org
The Implementation of Monetary Policy in Industrial Countries
1997 survey of the conduct of monetary policy in industrial countries by the Bank for International Settlements.
www.bis.org
1997 survey of the conduct of monetary policy in industrial countries by the Bank for International Settlements.
www.bis.org
The Taylor Rule and Interest Rates in the EMU Area
Paper that suggests the Taylor Rule may be an appropriate model for the ECB.
www.bis.org
Paper that suggests the Taylor Rule may be an appropriate model for the ECB.
www.bis.org
E
The Perils of Taylor Rules
Analysis of the effectiveness of the Taylor Rule given interest rate feedback transmission.
www.econ.nyu.edu
Analysis of the effectiveness of the Taylor Rule given interest rate feedback transmission.
www.econ.nyu.edu
F
Aggregate Disturbances, Monetary Policy and the Macroeconomy
Article that analyzes a macroeconomic model for monetary policy and the implications of changes in monetary policy for the macroeconomic variables in the model.
www.federalreserve.gov
Article that analyzes a macroeconomic model for monetary policy and the implications of changes in monetary policy for the macroeconomic variables in the model.
www.federalreserve.gov
Monetary Policy Rules Based on Real Time Data
Paper that argues that Federal Reserve forecasts for future monetary policy prove more accurate than Taylor rule forecasts.
www.federalreserve.gov
Paper that argues that Federal Reserve forecasts for future monetary policy prove more accurate than Taylor rule forecasts.
www.federalreserve.gov
Monetary Policy With Noisy Information
Paper that argues that inaccurate macroeconomic data can negatively impact rules-based monetary policy.
www.federalreserve.gov
Paper that argues that inaccurate macroeconomic data can negatively impact rules-based monetary policy.
www.federalreserve.gov
Monetary Rules
Speech by Federal Reserve Governor Gramlich that discusses the benefits and limitations of rules for the conduct of monetary policy.
www.federalreserve.gov
Speech by Federal Reserve Governor Gramlich that discusses the benefits and limitations of rules for the conduct of monetary policy.
www.federalreserve.gov
New Challenges for Monetary Policy
Speech by Federal Reserve Governor Meyer at the yearly Jackson Hole Symposium on how the FOMC makes monetary policy decisions.
www.federalreserve.gov
Speech by Federal Reserve Governor Meyer at the yearly Jackson Hole Symposium on how the FOMC makes monetary policy decisions.
www.federalreserve.gov
Price Stability and Monetary Policy Effectiveness When Nominal Interest Rates are Bounded at Zero
Paper that examines the effectiveness of macroeconomic models of monetary policy conduct at near-zero inflation levels.
www.federalreserve.gov
Paper that examines the effectiveness of macroeconomic models of monetary policy conduct at near-zero inflation levels.
www.federalreserve.gov
Robustness of Simple Monetary Policy Rules Under Model Uncertainty
Analysis of the ability of four common macroeconomic models to forecast monetary policy.
www.federalreserve.gov
Analysis of the ability of four common macroeconomic models to forecast monetary policy.
www.federalreserve.gov
Simplicity Versus Optimality: The Choice of Monetary Policy Rules When Agents Must Learn
Analysis that examines the costs and benefits for central banks of rules-based models.
www.federalreserve.gov
Analysis that examines the costs and benefits for central banks of rules-based models.
www.federalreserve.gov
Structural change and Monetary Policy
Speech by Federal Reserve Governer Meyer that argues for adherence to the natural rate of unemployment as a guide to determining monetary policy.
www.federalreserve.gov
Speech by Federal Reserve Governer Meyer that argues for adherence to the natural rate of unemployment as a guide to determining monetary policy.
www.federalreserve.gov
Three Lessons for Monetary Policy in a Low Inflation Era
Paper that analyzes the effect of low inflation on rules-based monetary policy conduct.
www.federalreserve.gov
Paper that analyzes the effect of low inflation on rules-based monetary policy conduct.
www.federalreserve.gov
Monetary Policy
Brief discussion of monetary policy, including open market operations and their implications.
www.finpipe.com
Brief discussion of monetary policy, including open market operations and their implications.
www.finpipe.com
Malcom Bryan and the Introduction of Monetary Aggregate Targets
Article that describes the arguments for monetary aggregate targeting by a former president of the Atlanta Federal Reserve.
www.frbatlanta.org
Article that describes the arguments for monetary aggregate targeting by a former president of the Atlanta Federal Reserve.
www.frbatlanta.org
Policy Credibility and the Design of Central Banks
Paper that details the move towards greater central bank independence and the implications for monetary policy effectiveness.
www.frbatlanta.org
Paper that details the move towards greater central bank independence and the implications for monetary policy effectiveness.
www.frbatlanta.org
Discount Window
Discussion of the use of the Federal Reserve's discount window as a tool for conducting monetary policy.
www.frbdiscountwindow.org
Discussion of the use of the Federal Reserve's discount window as a tool for conducting monetary policy.
www.frbdiscountwindow.org
Describing Fed Behavior
Authored by the Saint Louis Federal Reserve, the article analyzes the use of the Taylor rule as a tool for characterizing Fed policy.
www.frbsf.org
Authored by the Saint Louis Federal Reserve, the article analyzes the use of the Taylor rule as a tool for characterizing Fed policy.
www.frbsf.org
Learning About a Shift in Trend Output: Implications for Monetary Policy and Inflation
Paper that develops a macroeconomic model for monetary policy conduct, and the implications of changes in macroeconomic variables.
www.frbsf.org
Paper that develops a macroeconomic model for monetary policy conduct, and the implications of changes in macroeconomic variables.
www.frbsf.org
Should the Fed Take Deliberate Steps to Deflate Asset Bubble Prices?
Article that outlines the debate over whether the Federal Reserve should target asset prices in directing monetary policy.
www.frbsf.org
Article that outlines the debate over whether the Federal Reserve should target asset prices in directing monetary policy.
www.frbsf.org
Taylor's Rule and the Fed
Paper by the San Francisco Fed that offers empirical evidence of the validity of the Taylor rule.
www.frbsf.org
Paper by the San Francisco Fed that offers empirical evidence of the validity of the Taylor rule.
www.frbsf.org
The Federal Reserve System In Brief
Introduction to the organization and operations of the Federal Reserve, including a section on how the Fed conducts monetary policy.
www.frbsf.org
Introduction to the organization and operations of the Federal Reserve, including a section on how the Fed conducts monetary policy.
www.frbsf.org
U.S. Monetary Policy: An Introduction
Introduction on how the Federal Reserve conducts monetary policy by the San Francisco Fed.
www.frbsf.org
Introduction on how the Federal Reserve conducts monetary policy by the San Francisco Fed.
www.frbsf.org
G
Inflation Targeting: Is New Zealand's Experience Relevant to Developing Countries?
Speech by the governor of the New Zealand central bank that reviews the bank's experience with inflation targeting and discusses the implications for developing countries.
www.google.com
Speech by the governor of the New Zealand central bank that reviews the bank's experience with inflation targeting and discusses the implications for developing countries.
www.google.com
H
Testing for the Lucas Critique: A Quantitative Investigation
Examination of the implications for the Taylor Rule of forward-looking agents.
swopec.hhs.se
Examination of the implications for the Taylor Rule of forward-looking agents.
swopec.hhs.se
I
Are Currency Boards a Cure for All Monetary Problems?
Article by the International Monetary Fund (IMF) that presents the limitations of currency boards.
www.imf.org
Article by the International Monetary Fund (IMF) that presents the limitations of currency boards.
www.imf.org
Currency Boards, Credibility and Macroeconomic Behavior
Working paper by Luis Rivera Batiz and Amadou Sy of the Research Department of the International Monetary Fund.
www.imf.org
Working paper by Luis Rivera Batiz and Amadou Sy of the Research Department of the International Monetary Fund.
www.imf.org
Monetary Operations in the European Economic and Monetary Union
Paper by the International Monetary Fund (IMF) that explains the operating procedures of the European Central Bank.
www.imf.org
Paper by the International Monetary Fund (IMF) that explains the operating procedures of the European Central Bank.
www.imf.org
Selected Issues Concerning Monetary Policy and Institutional Design for Central Banks - A Review of Theories
Working paper by Christian Beddies of the International Monetary Fund.
www.imf.org
Working paper by Christian Beddies of the International Monetary Fund.
www.imf.org
The Impact of Monetary Policy on the Exchange Rate - Evidence from Three Small Open Economies
Working paper by Jeromin Zettelmeyer of the International Monetary Fund. Requires Acrobat Reader.
www.imf.org
Working paper by Jeromin Zettelmeyer of the International Monetary Fund. Requires Acrobat Reader.
www.imf.org
The Monetary Policy of the Eurosystem
Article by Ottmar Issing of the European Central Bank (ECB) that outlines the structure of the ECB.
www.imf.org
Article by Ottmar Issing of the European Central Bank (ECB) that outlines the structure of the ECB.
www.imf.org
Threshold Effects in the Relationship Between Inflation and Growth
Working paper by Mohsin S. Khan and Abdelhak S. Senhadji of the International Monetary Fund Institute.
www.imf.org
Working paper by Mohsin S. Khan and Abdelhak S. Senhadji of the International Monetary Fund Institute.
www.imf.org
K
Conducting Monetary Policy with Inflation Targets
Article that outlines the impact of the adoption of an inflation target on monetary policy operations and decisions.
www.kc.frb.org
Article that outlines the impact of the adoption of an inflation target on monetary policy operations and decisions.
www.kc.frb.org
How Should Monetary Policy Respond to Shocks While Maintaining Long Run Price Stability?
Paper that discusses the pertinent issues involved in conducting monetary policy to maintain price stability once achieved.
www.kc.frb.org
Paper that discusses the pertinent issues involved in conducting monetary policy to maintain price stability once achieved.
www.kc.frb.org
How Useful are Taylor Rules for Monetary Policy?
Paper by the Kansas City Fed that argues that the usefulness of Taylor rules for monetary policy is limited.
www.kc.frb.org
Paper by the Kansas City Fed that argues that the usefulness of Taylor rules for monetary policy is limited.
www.kc.frb.org
Monetary Policy Implications of Greater Fiscal Discipline
Analysis of the implications of fiscal discipline for the conduct of monetary policy.
www.kc.frb.org
Analysis of the implications of fiscal discipline for the conduct of monetary policy.
www.kc.frb.org
M
Discovering Open Market Operations
Article by the Minneapolis Federal Reserve that introduces the FOMC's main tool for conducting monetary policy.
www.minneapolisfed.org
Article by the Minneapolis Federal Reserve that introduces the FOMC's main tool for conducting monetary policy.
www.minneapolisfed.org
Real Effects of Monetary Policy in a World Economy
Paper by the Minneapolis Federal Reserve Bank that presents a model for measuring the impact of monetary policy on the real economy.
minneapolisfed.org
Paper by the Minneapolis Federal Reserve Bank that presents a model for measuring the impact of monetary policy on the real economy.
minneapolisfed.org
N
Legal Structure, Financial Structure and Monetary Policy
Article by the New York Federal Reserve that discusses the monetary policy transmission mechanism of the ECB.
www.ny.frb.org
Article by the New York Federal Reserve that discusses the monetary policy transmission mechanism of the ECB.
www.ny.frb.org
Open Market Operations
Brief article by the New York Federal Reserve that describes open market operations as the Federal Reserve's most flexible means of carrying out monetary policy.
www.ny.frb.org
Brief article by the New York Federal Reserve that describes open market operations as the Federal Reserve's most flexible means of carrying out monetary policy.
www.ny.frb.org
Reserve Requirements
Discussion of how reserve requirements are used as a tool of monetary policy written by the New York Federal Reserve.
www.ny.frb.org
Discussion of how reserve requirements are used as a tool of monetary policy written by the New York Federal Reserve.
www.ny.frb.org
R
Learning and the Complexity of Monetary Policy Rules
Presentation of a multifactor macroeconomic model for monetary policy conduct.
www.rbnz.govt.nz
Presentation of a multifactor macroeconomic model for monetary policy conduct.
www.rbnz.govt.nz
Monetary Rules When Economic Behaviour Changes
Analysis of the implications for a macroeconomic monetary policy rule when economic behavior changes.
www.rbnz.govt.nz
Analysis of the implications for a macroeconomic monetary policy rule when economic behavior changes.
www.rbnz.govt.nz
The Effects of Potential Output Uncertainty on the Performance of Simple Policy Rules
Analysis of the importance of accurate macroeconomic data and forecasting for monetary policy rules.
www.rbnz.govt.nz
Analysis of the importance of accurate macroeconomic data and forecasting for monetary policy rules.
www.rbnz.govt.nz
S
Discretion Versus Policy Rules in Practice
Analysis of rules-based versus discretionary conduct of monetary policy, and introduction of the Taylor rule, by John Taylor of Stanford University.
www.stanford.edu
Analysis of rules-based versus discretionary conduct of monetary policy, and introduction of the Taylor rule, by John Taylor of Stanford University.
www.stanford.edu
Estimation and Control of a Macroeconomic Model with Rational Expectations
John Taylor's seminal work on a rule-based policy for monetary conduct.
www.stanford.edu
John Taylor's seminal work on a rule-based policy for monetary conduct.
www.stanford.edu
Eurosystem Monetary Targeting: Lessons from US Data
Analysis of monetary and inflation targeting effectiveness in the United States, and implications for ECB policy.
www.stanford.edu
Analysis of monetary and inflation targeting effectiveness in the United States, and implications for ECB policy.
www.stanford.edu
Implications of Uncertainty for Monetary Policy
Paper by the Reserve Bank of Australia that argues for an activist monetary policy in the face of uncertainty regarding macroeconomic variables.
www.stanford.edu
Paper by the Reserve Bank of Australia that argues for an activist monetary policy in the face of uncertainty regarding macroeconomic variables.
www.stanford.edu
InflationTargeting and Output Stabilization
Paper by the Reserve Bank of Australia that disputes arguments of the limitations of inflation targeting.
www.stanford.edu
Paper by the Reserve Bank of Australia that disputes arguments of the limitations of inflation targeting.
www.stanford.edu
Is the Taylor Rule the Same as the Friedman Rule?
Comparison and contrast of the Taylor and Friedman rules for monetary policy conduct.
www.stanford.edu
Comparison and contrast of the Taylor and Friedman rules for monetary policy conduct.
www.stanford.edu
More Evidence on the Robustness of theTaylor Rule
Presentation of empirical evidence that the Taylor rule acts as a reliable indicator of monetary policy changes.
www.stanford.edu
Presentation of empirical evidence that the Taylor rule acts as a reliable indicator of monetary policy changes.
www.stanford.edu
No Fixed Policy Rules for the Monetary Policy of the ECB
Article that quotes statements by an ECB board member arguing against fixed rules for monetary policy conduct.
www.stanford.edu
Article that quotes statements by an ECB board member arguing against fixed rules for monetary policy conduct.
www.stanford.edu
Recent Developments in the Analysis on Monetary Policy Rules
Speech that details the historical development and current implications of rules-based monetary policy.
www.stanford.edu
Speech that details the historical development and current implications of rules-based monetary policy.
www.stanford.edu
Taylor Rule Implementation for a Small Developing Economy
Adjustments to the Taylor rule of monetary policy conduct for small developing countries.
www.stanford.edu
Adjustments to the Taylor rule of monetary policy conduct for small developing countries.
www.stanford.edu
The Quest for Prosperity Without Inflation
Paper that argues against fixed models of monetary policy conduct given the uncertainty over macroeconomic forecasts.
www.stanford.edu
Paper that argues against fixed models of monetary policy conduct given the uncertainty over macroeconomic forecasts.
www.stanford.edu
Inflation-Target Design
Article by the Saint Louis Fed that examines empirical evidence of the success of central bank inflation-targeting on subduing inflation.
www.stls.frb.org
Article by the Saint Louis Fed that examines empirical evidence of the success of central bank inflation-targeting on subduing inflation.
www.stls.frb.org
Models and Monetary Policy: More Science Than Art?
Article by the Saint Louis Federal Reserve that discusses the usefulness and limitations of quantitiative models for conducting monetary policy.
www.stls.frb.org
Article by the Saint Louis Federal Reserve that discusses the usefulness and limitations of quantitiative models for conducting monetary policy.
www.stls.frb.org
Monetary Policy Rules?
Article written by Saint Louis Federal Reserve President Poole that argues for the adoption of concrete rules for the conduct of monetary policy.
www.stls.frb.org
Article written by Saint Louis Federal Reserve President Poole that argues for the adoption of concrete rules for the conduct of monetary policy.
www.stls.frb.org
Price-Level Targets
Article by the Saint Louis Fed that examines the implications of setting price-level targets.
www.stls.frb.org
Article by the Saint Louis Fed that examines the implications of setting price-level targets.
www.stls.frb.org
U
Monetary Policy, Taylor's Rule and Endogenous Fluctuations
Analysis of the dynamic behavior of an economy when the central bank implements an inflation targeting regime.
www.ucm.es
Analysis of the dynamic behavior of an economy when the central bank implements an inflation targeting regime.
www.ucm.es
Monetary Policy, Taylor´s Rule and Endogenous Fluctuations
Analysis of the dynamic behavior of an economy when the central bank implements an inflation targeting regime.
www.ucm.es
Analysis of the dynamic behavior of an economy when the central bank implements an inflation targeting regime.
www.ucm.es
W
Maintaining Price Stability
Article by Stanley Fischer of the World Bank that outlines the effectiveness and implications of central bank price-level targets.
www.worldbank.org
Article by Stanley Fischer of the World Bank that outlines the effectiveness and implications of central bank price-level targets.
www.worldbank.org
Bankpolicies.com
Policies, Job Descriptions, Forms Your source for banking policies.
www.BankPolicies.com
Policies, Job Descriptions, Forms Your source for banking policies.
www.BankPolicies.com
Monetary Policy Insights
Analysis of Fed policy and interest rates from Laurence H. Meyer
www.macroadvisers.com
Analysis of Fed policy and interest rates from Laurence H. Meyer
www.macroadvisers.com
