Category: Monetary Policy

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Monetary Policy

Changing of the guard at the Fed

Janet Yellen vs John Taylor, discretion vs rules.

Monetary Policy

On forward guidance

Does central bank communication create more confusion? Recent research on the forward guidance puzzle.

Monetary Policy

Phillips Curve?

Is it time to bury the Phillips curve?

Monetary Policy

On Central Bank Independence

How Central Bank independence has changed since the financial crisis? Is there a case for limiting Central Bank autonomy?

Monetary Policy

Do interest rates matter?

Are interest rates the main channel through which monetary policy is transmitted? A look at old and new research.

Monetary Policy

Monetary policy and the financial sector

How low can interest rates go before hurting the economy? Two new working papers on financial intermediaries and their impact on the transmission of monetary policy.

Monetary Policy

Rethinking the inflation target

US economists write to Janet Yellen recommending an increase of the Fed’s inflation target. Not everyone is on board though!

Monetary Policy

The Fed’s balance sheet normalization

How will the Fed shrink its balance sheet and what should its ultimate size be? Federal Reserve Board staff, Narayana Kocherlakota, Ben Bernanke and Christopher Sims answer these questions.

Monetary Policy


Cecchetti and Schoenholtz on what has become of Bitcoin. Larry White on the new dollar-pegged cryptocurrencies and Bordo and Levin on central bank issued digital currency.

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