Narrow search
Showing 1 - 10 of 87
Cover Image
Monetary Analysis and the Global Financial Cycle : An Asian Central Bank Perspective
Filardo, Andrew J. - 2014
EM Asia has seen a transformation of its monetary policy environment over the past 2 decades. By far, the most relevant … particularly relevant in EM Asia. While managed exchange rate regimes in EM Asia have been implemented with mixed success, the …-pillar monetary policy approach as a potentially attractive alternative for EM Asia. The three pillars are based on economic …
Persistent link: https://www.econbiz.de/10013047524
Cover Image
Monetary Policy Hysteresis and the Financial Cycle
Rungcharoenkitkul, Phurichai - 2019
This paper studies the interaction between monetary policy and macroeconomic stability in a model with two distinguishing features. First, financing - cash flows - underpins all economic activity, with banks generating deposits by granting loans. Money is non-neutral as the policy interest rate...
Persistent link: https://www.econbiz.de/10012861838
Cover Image
Inflation Targeting and Financial Stability : Providing Policymakers with Relevant Information
Vredin, Anders - 2015
Experience from financial crises and central bank policies in the past decade has led to an intensified debate about the relationship between monetary policy and financial stability. Since there is no established theoretical framework for analysing the links between financial stability and...
Persistent link: https://www.econbiz.de/10013019611
Cover Image
Liquidity and Financial Cycles
Adrian, Tobias; Shin, Hyun Song - 2013
In a financial system where balance sheets are continuously marked to market, asset price changes show up immediately in changes in net worth, and elicit responses from financial intermediaries, who adjust the size of their balance sheets. We document evidence that marked to market leverage is...
Persistent link: https://www.econbiz.de/10014216388
Cover Image
Spillovers of US Unconventional Monetary Policy to Asia : The Role of Long-Term Interest Rates
Miyajima, Ken - 2015
over to Asia mainly through low domestic bond yields and rapid growth of domestic bank credit. Financial integration does …
Persistent link: https://www.econbiz.de/10013031304
Cover Image
Implementing Monetary Policy in the 2000s : Operating Procedures in Asia and Beyond
Ho, Corrinne - 2013
Just as monetary policy at the strategic level has undergone significant changes over the years, so has its day-to-day implementation. This paper documents the key features of 17 central banks' monetary operating frameworks as of early 2007 and discusses their major developments over the...
Persistent link: https://www.econbiz.de/10014216397
Cover Image
Japan's Deflation, Problems in the Financial System and Monetary Policy
Baba, Naohiko; Nishioka, Shinichi; Oda, Nobuyuki; … - 2013
On 18-19 June 2004, the BIS held a conference on "Understanding Low Inflation and Deflation". This event brought together central bankers, academics and market practitioners to exchange views on this issue (see the conference programme in this document). This paper was presented at the workshop....
Persistent link: https://www.econbiz.de/10014060780
Cover Image
The Price Level, Relative Prices and Economic Stability : Aspects of the Interwar Debate
Laidler, David E. W. - 2013
quantity theory, and their policy prescription of price stability supported by lender of last resort activities in the event of …, particularly Austrian theory, which stressed the banking system's capacity to generate relative price distortions and forced saving …. This theory was discredited by its association with nihilistic policy prescriptions during the Great Depression …
Persistent link: https://www.econbiz.de/10012711547
Cover Image
The Reaction Function Channel of Monetary Policy and the Financial Cycle
Filardo, Andrew J. - 2019
This paper examines whether monetary policy reaction function matters for financial stability. We measure how responsive the Federal Reserve's policy appears to be to imbalances in the equity, housing and credit markets. We find that changes in these policy sensitivities predict the later...
Persistent link: https://www.econbiz.de/10012861841
Cover Image
Macroprudential Framework - The Case of Thailand
Thailand, Bank of - 2018
This note provides an overview of Thailand's macroprudential framework. While the Bank of Thailand (BOT) takes the lead role in safeguarding financial stability, it works in close coordination with two other regulators, namely the Securities and Exchange Commission and the Office of Insurance...
Persistent link: https://www.econbiz.de/10012929617