Category: Monetary Policy

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Monetary Policy

The Fed’s balance sheet runoff and the demand for reserves

New research examines the relation between reserve demand and the effective federal funds rate -interest on reserves spread.

Monetary Policy

The Fed critics

Will the Fed’s current policy lead to stagflation or its critics are looking at the wrong model?

Monetary Policy

In defense of average inflation targeting!

Two new working papers argue that average inflation targeting improves central bank credibility and  employment of populations with lower labor force attachment.

Monetary Policy

Asymmetric shocks and monetary policy

What is the optimal monetary policy in the presence of asymmetric shocks in a closed as well as in an open economy?

Monetary Policy

Optimal policy and HANK models

In HANK models, should optimal policy stabilize consumption inequality or focus on price stability?

Monetary Policy

Evaluating the Fed’s monetary policy

Is the Fed behind the curve?

Monetary Policy

Central bank communication and financial markets

Taking a deeper look at the “Fed information effect.”

Monetary Policy

Why do central banks undertake reforms?

Interesting research on what drives institutional reforms as well as monetary policy framework reviews in central banks.

Monetary Policy

On inflation expectations

The importance of anchoring inflation expectations.

Monetary Policy

Should Jerome Powell be re-appointed?

There are many divergent views about whether President Biden should re-appoint Jerome Powell.

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