Monetary policy and country risk
نویسندگان
چکیده
منابع مشابه
1 Inflation Expectations , Country Risk , and Monetary Policy in Mexico
This paper analyzes the transmission mechanism of monetary policy in an emerging market economy like Mexico. The analysis emphasizes the importance of economic agents’ expectations – mainly inflation expectations and country-risk perception – to understand the effects of monetary policy in emerging market economies. It is shown that both, economic agents’ expectations and the correct identifica...
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This paper shows that the optimal monetary policies recommended by New Keynesian models still imply a large amount of inflation risk. We calculate the term structure of inflation uncertainty in New Keynesian models when the monetary authority adopts the optimal policy. When the monetary policy rules are modified to include some weight on a price path, the economy achieves equilibria with substa...
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Over the past twenty years, macroeconomic performance has improved in industrialized and developing countries alike. In a broad cross-section of countries inflation volatility has fallen markedly while output variability has either fallen or risen only slightly. This increased stability can be attributed to either: 1) more efficient policymaking by the monetary authority, 2) a reduction in the ...
متن کاملMonetary Aggregates and Monetary Policy
This is a special conference for the Federal Reserve Bank of Boston, and for me personally. The role of monetary aggregates in monetary policy was intensely controversial when I joined the staff of the Board of Governors in May 1969. I was immediately asked to join the staff of the newly formed FOMC Committee on the Directive. Governor Sherman Maisel chaired that committee; the other two member...
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ژورنال
عنوان ژورنال: Applied Economics
سال: 2008
ISSN: 0003-6846,1466-4283
DOI: 10.1080/00036840600949249