... towards the end ofthe month
in response to heightened expectations of a possible further loosening in monetary policy. In the
United Kingdom, the majority of respondents to the Reuters survey of ... back further during the second half ofthe year than the Committee had thought at the
time ofthe August Inflation Report. The increase in the prices of agricultural commodities earlier in
the ... lending by the introduction ofthe FLS and the impact ofthe expansion ofthe
7
precise timing was uncertain. The robust July Index of Production numbers would require further
study...
... in all of these conditions [22]. In the trau-
matically injured brain, however, the synthesis of MT1
and MT2, as well as the synthesis of GIF, are up-regu-
lated by reactive astrocytes in the vicinity ... loss
in the AD brain. Further investigation ofthe increased
neurotrophic activity ofthe AD brain revealed that it
correlated with the loss of a specific neuroinhibitory
factor, rather than the presence ... also determined that the amount of extra-
cellular GIF was around 30 % higher than the levels of
intracellular GIF in these astrocyte cultures. Further-
more, the absence of cell death suggested...
... MARCKS 3 -UTR sequences [38 ] of pDK1:
131 02597 bp (complete 3 -UTR of MARCKS); pDK2: 131 0
230 9 bp; pDK8: 131 0–1562 bp. The poly(A) signal ofthe bovine
growth hormone was provided by the pcDNA3 vector. ... detection of proteins crosslinked
Fig. 2. Formation of two major complexes between Swiss 3T3 proteins
and the3 -UTR ofthe MARCKS mRNA. (A) The MARCKS 3 -UTR,
the stop codon UAA ofthe coding ... 2002)
Eur. J. Biochem. 270, 35 0 36 5 (20 03) Ó FEBS 20 03 doi:10.1046/j.1 432 -1 033 .20 03. 033 96.x
NP-40, 10 m
M
NaCl, 3 m
M
MgCl
2
and 10 m
M
Tris/HCl
pH 7.4) prior resuspending the nuclear pellet in glycerol
storage...
... affect the adjustment
speed of retail rates towards equilibrium. The extent to which this is the case is measured by the size
of ρ1*h, h being the volatility ofthe unpredictable part ofthe market ... that
the response of bank retail rates to changes in the interest rates on the refinancing operations
controlled by the central bank is a major link in the transmission ofthe ECB monetary policy.
A ... 2001). The
main lesson of these banking structure studies is that the pricing behaviour of banks may depend on
the degree of competition and contestability in the different segments ofthe retail...
... choose
κ
n
=2 /3 − (−1)
n
2
−2N+n+1
/3, n=1, ··· , 2N.
Explicit examples are
κ
2N
=2 /3 − 2 /3= 0,κ
2N−1
=2 /3+ 1 /3= 1,κ
2N−2
=2 /3 − 1/6,
κ
2N 3
=2 /3+ 1/12, ··· ,κ
2
=2 /3 − 2
−2N +3
/3.
With this choice of κ
n
, ... ω(p
n−1
)
.(4.29)
Under the assumptions (3. 9) (3. 10), the term on the right side of (4.28) is much
smaller than the accuracy we need for Theorem 3. 1. Therefore this condition
will be imposed for the rest ofthe ... let
κ
n
=2 /3+ (−1)
n
2
−2N+n
/3, n=1, ··· , 2N +1.(7.1)
A few terms are given explicitly in the following:
κ
2N+1
=2 /3 − 2 /3= 0,κ
2N
=2 /3+ 1 /3= 1,κ
2N−1
=2 /3 − 1/6,
κ
2N−2
=2 /3+ 1/12, ··· ,κ
2
=2 /3+ 2
−2N+2
/3.
We...
... than the GDP decline in the other group. The
reactions ofthe other variables to a monetarypolicy shock are essentially the same.
A third important characteristic ofthe financial system is the ... for these
countries the existence of cointegration could not be rejected. We therefore specify the VAR
models in the level ofthe variables. Nevertheless, we neither impose the number of
cointegrating ... value of unity to those countries
where we expected a large reaction to monetarypolicy shocks on the basis of this criterion. We
then constructed an index ofthe expected effects ofmonetary policy...
... Channel
Monetary policy can affect firms’ balance sheets in
several ways. For example, expansionary
monetary policy, ↑ P
e
and ↑ the NW of firms and
so leads to an ↑ in I and Y.
The monetarypolicy ... to the economy
Copyright 2011
Pearson Canada Inc.
25 -
13
Transmission Mechanisms ofMonetary
Policy
Traditional Interest-Rate Channels:
expansionary monetarypolicy i
r
↓, I ↑, Y↑
The ... relative to the cost ofthe 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 transmission mechanism for monetary...
... form the basis for the findings. The eight central banks covered are: the
Reserve Bank of Australia, the Bank of Canada, the Bank of England, the European Central
Bank, the Bank of Japan, the ... at the Reserve Bank of
Australia, the Bank of Canada, the Bank of England, the European Central Bank, the Bank of Japan, the Reserve
Bank of New Zealand, Norges Bank, and Sveriges Riksbank. The ... solely the responsibility
of the authors and should not be interpreted as reflecting the views ofthe Board of Governors ofthe Federal Reserve
System or of any other person associated with the...
... influenced by the degree of credibility of
the announcement ofthe wage policy authori-
3
The cause ofthe increase in production potential is ir-
relevant for the further analysis. The increase ... strategies for monetarypolicy in
the euro area.
These simulations are supplemented by an
analysis ofthe experience of other countries in
Section 3.The examples ofthe United States,
the Netherlands ... against the background ofthe new eco-
nomic setup in the euro area: While there is a
single monetary policy, other areas of economic
policy are left to policy makers at the national
level. There...