Category: Monetary Policy
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How much monetary tightening is in order?
It might be time for central banks in advanced countries to start easing the tightening cycle.
On monetary policy transmission
New research on how monetary policy is transmitted to the economy when there are heterogeneous banks and incomplete markets; or heterogeneous household with bounded rationality.
As liquidity is drying up…
Is what happened in the UK government bonds market last week an early warning of potential financial instability in advanced economies?
Monetary policy and financial stability
New research on how central banks should condition monetary policy on financial vulnerability.
On the UK bond market rout
What triggered the Bank of England’s intervention in the UK bond market last week.
Some new challenges for central banks
The pandemic has given rise to new challenges for central banks. These include: uncertainty over the trajectory of r* and the increasing importance of NFBIs.
Machine learning in macro modelling
New research on how deep reinforcement learning can be used to model bounded rationality and neural networks to estimate nonlinear HANK models.
On the dangers of QT
How intertwined have fiscal and monetary policies become in the U.S.? Is the system better placed today to sustain a shrinkage of the Fed’s balance sheet?
How to influence consumers’ inflation expectations
…while in a high inflation environment. Some evidence from Germany.