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Tag: Monetary Policy
Market sees Bank of England to raise rate to 4% by May
The financial market expecting the UK policy interest rate UK will break 4% by May, more than double the current level of 1.75%. Financial Times reported.
The G7 statement on coronavirus
The G7 finance ministers and central bankers held a call to discuss the coronavirus, but the statement doesn't provide any surprise to investors.
ECB on impact of Coronavirus (March 2)
Luis de Guindos, vice president of the European Central Bank, depicted the coronavirus as an additional " layer of uncertainty to global and euro area growth prospects,"
Macroprudential Policy – how does it differ from rate hikes?
Macroprudential policies, it is argued, are more targeted and can complement central bank’s use of interest rate policy.
Is there a Zero Lower Bound?
In a recent research, four European Central Bank economists found that negative interest rate policy in the eurozone can encourage banks to increase lending and encourage cooperations to increase investments.That is, contrary to what macroeconomics models usually predict, interest rate policy can still has stimulative effect even the zero lower bound is reached.
Phillips Curve is Not a Straight Line…
A story about three economists agree with the prevailing consensus that the Phillips Curve of the US is flattened in the last few decades on the one hand; and dispute the idea that the Phillips Curve is dead on the other.
FedSpeak Might Not Have Much Effects on Public’s Inflation Expectation
In a recent NBER working paper "Monetary Policy Communications and their Effects on Household Inflation Expectations", economists Olivier Coibion, Yuriy Gorodnichenko and Michael Weber tried to find out how the household's expectation for inflation change with regard to the information they received.
A skeptical review of the QEs – why they might not be powerful as...
In their working paper "A Skeptical View of the Impact of the Fed's Balance Sheet," economists David Greenlaw, James D. Hamilton, Ethan Harris, and Kenneth D. West challenge some earlier studies that concluded QEs have a significant economic impact. Their major argument is that those research used simple event studies to quantify the impact of QE.
QE: A User’s Guide | #FurtherDiscussed
In a recent policy research, Joseph Gagnon of Peterson Institute for International Economics and Brian Sack of D.E. Shaw Group asked an important question: when the Federal Reserve implement QE in the next crisis, should they use it somewhat differently?
Why the Fed should Keep a Sizeable Balance Sheet? | Q&A with Jeremy...
Former Fed Governor Jeremy Stein explain to us his recent research “The Federal Reserve's Balance Sheet as a Financial-Stability Tool” coauthored with Robin Greenwood and Samuel Hanson.
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