The Stability of Monetary Policy The Federal Reserve, 1914-2006

Ngày tải lên: 30/10/2014, 17:10

... of monetary policy on the economy and on residential property prices (CGFS 2006) On the other hand, Tsatsaronis and Zhu (2004) conjecture that the prevalence of securitisation should reduce the ... the large 16 To identify the monetary policy shock it is sufficient to determine the position of the monetary policy instrument; the ordering of t...

Ngày tải lên: 24/10/2012, 09:40

... The Price Stability Goal and the Nominal Anchor • Over the past few decades, policy makers throughout the world have become increasingly aware of the social and economic costs of inflation and ... All rights reserved Other Goals of Monetary Policy • Five other goals are continually mentioned by central bank officials when they discuss the objectives of monetary...

Ngày tải lên: 15/11/2013, 20:27

... exogenous event and the change in the business cycle soon followed Transmission Mechanisms of Monetary Policy Traditional Interest-Rate Channels: expansionary monetary policy ir ↓, I ↑, Y↑ The interest ... to the cost of the facilities and equipment they are buying I ↑ because firms can buy a lot of new investment goods with only a small issue of stock The tra...

Ngày tải lên: 05/01/2014, 17:01

... trademark of the Federal Reserve banks Making Sense of The Federal Reserve A Summary F or the past several pages, we have introduced you to who we are at the Federal Reserve the Board of Governors, the ... banking business in the United States The Federal Deposit Insurance Corp (FDIC), the Office of the Comptroller of the Currency (OCC) and t...

Ngày tải lên: 16/02/2014, 12:20

... calculated based on the estimated value of the borrower’s home at the time of the servicer’s error reduced by the amount the borrower still owes on the property The estimated value of the borrower’s ... available since the origination of the loan, the estimated value of the home at the time of error will be based on the estimated value of the home...

Ngày tải lên: 17/02/2014, 21:20

... viability.2 The Federal Reserve, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation (collectively, the “agencies”) are issuing this guidance to emphasize the ... among other things, the validity of the assumptions, the severity of tests, the robustness of the estimates, the performance of any under...

Ngày tải lên: 06/03/2014, 03:20

... growth and interest rates Cook and Hahn (1989) test for evidence of the Fed’s influence on rates by examining the reaction of interest rates to Fed target changes They estimate the reaction of rates ... between three- and six-month rates before and after the founding of the Fed The two rates moved together more closely in the later period, as pred...

Ngày tải lên: 15/03/2014, 01:20

... action, and that the response BANK LENDING AND TRANSMISSION OF MONETARY POLICY 61 occurs discretely at the time of the bank examination that results in the enforcement action Furthermore, the imposition ... several testable hypotheses concerning both the responsiveness of loans to changes in monetary policy and BANK LENDING AND TRANSMISSION OF...

Ngày tải lên: 15/03/2014, 10:20

... Measuring the long -term perception of monetary policy and the term structure The views expressed are those of the author and not necessarily reflect the views of the Bank of Finland I would like ... speci…cations for the long -term perception of the monetary authorities’in‡ ation target to explain, with the Fisher relationship, the pres...

Ngày tải lên: 22/03/2014, 23:20

Ngày tải lên: 23/03/2014, 05:22

... abroad, the path of fiscal policy, the state of the world economy, and the credibility of the monetary policy regime itself In order to give some broad idea of the size and time-path of the responses ... The transmission mechanism of monetary policy Introduction and summary The Monetary Policy Committee (MPC) sets the short-term interest rate a...

Ngày tải lên: 29/03/2014, 01:20

... Interest Rates and the Conduct of Monetary Policy in China Institutional background 2.1 The monetary policy framework in China According to the Law on the People’s Bank of China, the aim of monetary ... Transition Bank of Finland BOFIT Discussion Papers 21/ 2011 Dong He and Honglin Wang Dual-track Interest Rates and the Conduct of M...

Ngày tải lên: 29/03/2014, 13:20

... managing the liquidity situation in the market and signalling the stance of monetary policy They also provide the bulk of refinancing to the financial sector The operational features of the main ... pursuit of the business of credit institutions (recast), Official Journal of the European Union (OJ), L 177 of 30 June 2006, page ECB The implementation...

Ngày tải lên: 28/06/2014, 08:20