The Zero Bound on Nominal Interest Rates: Implications for Monetary Policy potx
The Zero Bound on Nominal Interest Rates: Implications for Monetary Policy potx
... central bank for stimulating the economy when
interest rates are stuck at zero. In the final section, we
draw some conclusions on the general implications of
the zero bound for monetary policy in ... WINTER 2007–2008
The Zero Bound on Nominal
Interest Rates: Implications for
Monetary Policy
Claude Lavoie and Stephen Murchison, Research Departmen...
The Zero Bound on Interest Rates and Optimal Monetary Policy ¤ docx
... ξ
t
),
18
The Zero Bound on Interest Rates and Optimal
Monetary Policy
∗
Gauti Eggertsson
International Monetary Fund
Michael Woodford
Princeton University
June 26, 2003
Abstract
We consider the consequences ... consequences for monetary policy of the zero floor for nominal in-
terest rates. The zero bound can be a significant constraint on the ability...
WORKING PAPER NO. 218 THE ZERO-INTEREST-RATE BOUND AND THE ROLE OF THE EXCHANGE RATE FOR MONETARY POLICY IN JAPAN potx
... with a prescription
for monetary policy in the presence of the zero bound. In the following, we will show that
such a prescription may focus on the role of base money and of the nominal exchange ... discussed above, one implication of the zero bound will be a reduction in the ef-
fectiveness of monetary policy. A further important implication is that the mo...
INFOTRAK HARRIS POLL IN PARTNERSHIP WITH COFEK ON BANK INTEREST RATES docx
... need for a conducive environment to allow for competitive trade
and business.
• The society strongly believes that what is good for the consumer is good for business.
• It is the responsibility ... clear signals from the Central Bank of Kenya on the direction interest
rates ought to take in the market, commercial banks have been slow to respond.
Weeks after the...
WORKING PAPER SERIES NO. 518 / SEPTEMBER 2005: TERM STRUCTURE AND THE SLUGGISHNESS OF RETAIL BANK INTEREST RATES IN EURO AREA COUNTRIES docx
...
All in all, the results on the basis of the “GARCH-inspired” specification are, just as for the
asymmetric specification, rather inconclusive and unable to convincingly explain the observed ... not affect the results. The coefficient of the short-term interest rate reported in the tables is similar to the
one obtained when the long terms interest rate is instr...
WORKING PAPER SERIES NO. 518 / SEPTEMBER 2005: TERM STRUCTURE AND THE SLUGGISHNESS OF RETAIL BANK INTEREST RATES IN EURO AREA COUNTRIES pptx
...
All in all, the results on the basis of the “GARCH-inspired” specification are, just as for the
asymmetric specification, rather inconclusive and unable to convincingly explain the observed ... not affect the results. The coefficient of the short-term interest rate reported in the tables is similar to the
one obtained when the long terms interest rate is instr...
WORKING PAPER SERIES NO 748 / MAY 2007: FINANCIAL DOLLARIZATION THE ROLE OF BANKS AND INTEREST RATES docx
... default
and zero otherwise. Note that this constraint will actually bind in equilibrium
and is effectively a participation constraint for the loan manager to perform
the loan.
Given the participation constraint, ... dollarization. Interest rate differential on deposits has a negative
effect on deposit dollarization. Third, our results confirm the relevance of the
minimum varia...
The Duration of Bank Retail Interest Rates BY Ben R. Craig and Valeriya Dinger ppt
... us to
extend the analysis to study the determinants of the hazard of changing the retail rates. The
exploration of these determinants contains, on the one hand, information on the effect of ... proxy for the
monetary policy rate and thus the more relevant one from a monetary policy transmission
viewpoint.
Obviously, approximating the deviation of the ob...
Tài liệu the supply oF money – banK behaViour and the implications For monetary analysis doc
...
banks has considerable implications for the
macroeconomy. The examination of money
and credit developments for the purposes of
monetary analysis provides information on the
functioning of banks’ ... unilaterally sets the level of the monetary
base, i.e. the monetary base is the instrument of monetary policy. The money multiplier then
determines the s...