policy rule

I consider the interaction of trade and environmental policies in two canonical models: competitive general equilibrium (which I extend to allow for monopoly power in trade) and multi-period oligopoly (which I extend to incorporate a general pollution abatement technology). Despite the complexities of the models and the considerable differences between them, they have surprisingly similar impli...

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Identifying the adopted Monetary Policy Rule by the Central Bank of Iran

Journal: Iranian Journal of Economic Studies 2018

Ahmad Sadraei Javaheri, Ebrahim Hadian, Raha Pourahmadi Haghighi, Rouhollah Shahnazi,

It is obvious that an optimal policy should consider main dimensions of the phenomenon that can affect the transmission mechanism of that policy. In an open economy, it is expected that variables of the foreign sector play important role in its economic behavior. Therefore, it needs that any optimal policy in an open economy to design in such a way which involves changes in the foreign sector. ...

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Monetary policy rule for China: 1994-2006

2008

Danfeng Kong

With the development of market-oriented economic reforms, Chinese monetary policy plays an important role in the world. The objective of this paper is to review the recent conduct of Chinese monetary policy and the central bank’s rule-based behavior in period 1994-2006 by estimating the monetary policy rules (monetary policy reaction function). It compares four kinds of monetary policy rules -T...

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