Category: Monetary Policy
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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.
Is the Fed fueling inflation?
Two new research papers on how disagreements between the Fed and the market influence interest rate decisions; and on the equivalence between balance sheet reductions and interest rate increases.
A granular look at historical inflation
New research on how to properly compare present inflation to past inflationary episodes; what are the lessons to be learned.
Inflation targeting: what do economists think?
A look at the theoretical foundation of inflation targeting. The results of a survey of leading researchers and economists from around the world.
Does the public trust central banks?
How do knowledge and attitudes affect the public's trust in central banks. Which central banks are considered trustworthy.