Category: Monetary Policy
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Central bank finance
Central banks are running with negative equity: what are the repercussions?
On monetary policy rules
New research on whether the Taylor Rule should still be the prevalent specification of monetary policy in macroeconomic models. A proposal for an alternative set of monetary rules.
Should household inequality affect the conduct of monetary policy?
New research on whether monetary policy is well-suited to deal with business-cycle shocks that affect the bottom of the income distribution.
Causes of today’s inflation
If inflation in the US is not due to excessive demand, is the current monetary policy stance the right one?
Historical patterns in central banking
Have central banks been passive prior to the 1970s? Does de jure central bank independence translate into defacto independence?
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?