Tool and goal of monetary policy ppt

... 6 Tools and goals of Monetary Policy Copyright © 2007 Pearson Addison-Wesley. All rights reserved. 15-20 Copyright © 2007 Pearson Addison-Wesley. All rights reserved. 15-21 Monetary Policy ... Addison-Wesley. All rights reserved. 15-22 Monetary Policy Tools of the European Central Bank (cont’d) • Reserve Requirements  2% of the total amount of checking deposits an...

Ngày tải lên: 10/03/2014, 19:20

... understanding of local law and accounting procedures, as well as by the prospect of adverse selection among those customers rejected by local banks. 3 Income and wealth effects of monetary policy This ... structure and the transmission of ECB policy , mimeo, Erasmus University, Rotterdam. Barran F., V. Coudert and B. Mojon (1997): “The transmission of monetary policy...

Ngày tải lên: 15/03/2014, 14:20

... (see Appendix B). This type of policy resembles more closely the standard tools used by central banks. 4 Aggregate sho cks and central bank quantitative policy The standard view on aggregate liquidity ... occur. On the other hand, the central bank should respond to aggregate shocks with a quan- titative policy of injecting liquid assets in the economy. The goal of this policy...

Ngày tải lên: 29/03/2014, 13:20

... the peak effect of a monetary policy shock and mortgage market indicators. Of course, there is no lack of cross-country studies that find differences in monetary transmission and attribute these ... the share of owner-occupied housing matters. With high owner-occupancy rates, the wealth effect of monetary policy should be important and one would expect a larger im...

Ngày tải lên: 24/10/2012, 09:40

... Primary Goal of Monetary Policy? • Hierarchical Versus Dual Mandates: – hierarchical mandates put the goal of price stability first, and then say that as long as it is achieved other goals can ... www.federalreserve.gov/releases and author’s calculations. © 2013 Pearson Education, Inc. All rights reserved. 16-3 Other Goals of Monetary Policy • Five other goals are cont...

Ngày tải lên: 15/11/2013, 20:27

Ngày tải lên: 15/03/2014, 01:20

... responsiveness of loans to changes in monetary policy and BANK LENDING AND TRANSMISSION OF MONETARY POLICY 59 the possible pitfalls of failing to control for both capital shocks and monetary policy shocks: 1. ... LENDING AND TRANSMISSION OF MONETARY POLICY 65 of monetary policy. Table 1 shows that the sum of the three coefficients on the change in the fe...

Ngày tải lên: 15/03/2014, 10:20

... H E. Reimers and B. Roffia, July 2009. 1069 “Housing finance and monetary policy by A. Calza, T. Monacelli and L. Stracca, July 2009. 1070 Monetary policy committees: meetings and outcomes” ... Martinez Pagés J., Sevestre P. and Worms A. (2003a), “Financial Systems and the Role of Banks in Monetary Policy , in Angeloni I., Kashyap A.K. and Mojon B. (eds.), Moneta...

Ngày tải lên: 15/03/2014, 10:20

... interaction with monetary policy. 4.3 Bank regulation and monetary policy Proposition 3 @w @r f 6= 0: optimal regulation, d   e k i  , cannot neutralize the risk-taking channel of monetary policy. ... theircomments.Allremainingerrorsareourown.Theviewsexpressedinthispaperdonotnecessarilyreecttheviews of theIMFor DNB. This paper has previously circulated...

Ngày tải lên: 22/03/2014, 21:20

... activity), the same goals of monetary policy but with possible shifts in the perception of monetary policy goals or in the level of these variables. As noted by Kozicki and Tinsley (2001b), these ... problem of the public perception of monetary policy, since the de…nition of the endpoint is free, but to improve long-term forecasts with shifting perceptions of long t...

Ngày tải lên: 22/03/2014, 23:20