a macroeconomic factors us monetary policy or the global saving rate
Tài liệu Interest on Excess Reserves as a Monetary Policy Instrument: The Experience of Foreign Central Banks ppt
Ngày tải lên :
17/02/2014, 03:20
... rates in corridor systems with adjustable rate floors 1 Has the interest rate paid on central bank balances been a floor for market interest rates? Because deposit balances held at central banks ... influence, the covariation between monetary policy adjustments and central bank balances, and the extent to which the rate the central bank pays on balances has served as a floor for the short-term market ... floor (for example, by targeting a rate in the center of the policy rate corridor), then the market rate spread over the policy rate is likely to be positive whether or not the policy rate floor...
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Monetary Policy in the Eurozone: Evaluating the European Central Bank’s interest rate decisions and the needs of member states using a Taylor rule ppt
Ngày tải lên :
29/03/2014, 13:20
... situation of the country at that time In this way, the additional information provides a more accurate picture of the Taylor rate, even if the policymakers at that time would not be aware of that ... period and investigate trends that may have affected the direction of the Taylor recommended rate Data were gathered through the OECD’s statistics database Inflation numbers were available on a quarterly ... the Taylor rule decisions would have been made To account for the different temporal spacing of the quarterly Taylor rates and the monthly Central Bank interest rate decisions, the rates are laid...
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Federal Reserve Bank of Dallas Globalization and Monetary Policy Institute - Ultra Easy Monetary Policy and the Law of Unintended Consequences* pptx
Ngày tải lên :
22/03/2014, 23:20
... See BIS (2007) and Hanoun (2012) Graph 4. Hanoun also provides evidence (Graph 5) that, for the last decade at least, the global policy rate has generally been well below the rate suggested by a global Taylor rule. For a description of the changes in central bank balance sheets, see Bank for International Settlements (2012), p40. ... by technological developments and globalization. In the bust phase of the cycle, asset prices collapse and Class 1 speculators can lose part (though rarely all) of the wealth accumulated earlier. Sharply easier monetary conditions ease ... Were we to adopt this analytical framework, policymakers today would seem to have serious cause for concern. For simplicity, suppose that the natural rate of interest (real) for the global economy as a whole can be proxied by an ex post measure; the potential rate of growth of the ...
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Measuring the long-term perception of monetary policy and the term structure docx
Ngày tải lên :
22/03/2014, 23:20
... interest rate for the euro area afterwards, as we also want to explain the behaviour of the German interest rate The in‡ ation and activity series are built in the same fashion We use mixed data, that ... mahdollistaa myös pitkän aikavälin inflaatio-odotusten käyttämisen aikarakenteen toisena faktorina Tämä faktori luonnehtii samalla vallitsevia käsityksiä rahaviranomaisten käyttäytymisestä Avainsanat: ... generate short rate expectations in (3.5), from the information set available at date t Hence, we use a weaker version of the expectations theory than the use of ex post values of the short rate...
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Monetary Policy and the Slow Recovery: It’s Not Just About Housing ppt
Ngày tải lên :
23/03/2014, 05:22
... fundamentally transform the labor market Now, other factors besides skill mismatches may also have helped push up the natural unemployment rate Over the longer term, mismatches and other labor market ... well-contained Taking a long view, over the past 15 years, the overall inflation rate has averaged almost exactly percent, which is the Fed’s target rate of inflation The same is true of the past ... haven’t returned to normal Many small businesses and consumers still struggle to get loans For example, to get a mortgage, a borrower must have a top-notch credit rating and the cash to make a...
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THe MoneTary Policy of THe ecb 2011 pptx
Ngày tải lên :
29/03/2014, 08:20
... Kingdom United States Other EU Member States 2) China Switzerland Russia Japan Sweden Turkey Denmark Norway Korea Brazil India Taiwan Canada Saudi Arabia Algeria Singapore South Africa 14.96 12.81 ... low labour force participation rate (see Table 2.2) While the gap between the euro area and the US labour force participation rate has narrowed considerably over time, in 2009 the overall rate ... the exchange -rate system The President of the Council shall inform the European Parliament of the adoption, adjustment or abandonment of the euro central rates In the absence of an exchange-rate...
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The Implementation of Monetary Policy in The EURO Area potx
Ngày tải lên :
28/06/2014, 08:20
... bid rate, maximum bid rate and weighted average allotment rate (in the case of multiple rate auctions); • the start date and maturity date of the operation (if applicable) or the value date and ... counterparties agree on the swap points for the transaction The swap points are the difference between the exchange rate of the forward transaction and the exchange rate of the spot transaction The swap ... the capital of the issuer/debtor/guarantor, or one or more undertakings in which the counterparty owns the majority of the capital own 20% or more of the capital of the issuer/debtor/guarantor,...
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The Implementation of Monetary Policy in The EURO Area doc
Ngày tải lên :
28/06/2014, 22:20
... bid rate, maximum bid rate and weighted average allotment rate (in the case of multiple rate auctions); • the start date and maturity date of the operation (if applicable) or the value date and ... counterparties agree on the swap points for the transaction The swap points are the difference between the exchange rate of the forward transaction and the exchange rate of the spot transaction The swap ... the capital of the issuer/debtor/guarantor, or one or more undertakings in which the counterparty owns the majority of the capital own 20% or more of the capital of the issuer/debtor/guarantor,...
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dissertation abstracts liquidity management in monetary policy of the state bank of vietnam
Ngày tải lên :
22/07/2014, 14:00
... the central bank Forecasting approach: approaching cash flow balance sheet of the central bank allows the use of the data items on the balance sheet to predict the state of available capital ... uncertain behavior of the participating banks in trading capital 10 The regulatory in capital management of banks: the banks' capital management major influence on the ability to exploit capital at ... seasonal factors such as salary payment date, day off, day to spend money to increase salaries, the forecast on money factor need to rely on historical data to analyze to find out the seasonal...
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Fundamentals of Monetary Policy in the Euro Area
Ngày tải lên :
05/11/2014, 18:59
... Gerdesmeier Fundamentals of Monetary Policy in the Euro Area Concepts – Markets – Institutions Download free eBooks at bookboon.com Fundamentals of Monetary Policy in the Euro Area: Concepts – Markets ... day Light is OSRAM Download free eBooks at bookboon.com Click on the ad to read more Fundamentals of Monetary Policy in the Euro Area Institutions 28 4.1 Learning objectives 28 4.2 he European ... European Central Bank 29 4.4 Presidents of the European Central Bank 30 4.5 he Rise of the Euro 32 4.6 A closer look at the U.S Federal Reserve System 33 4.7 A closer look at the Bank of Japan 34...
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monetary policy in the information economy
Ngày tải lên :
28/11/2014, 17:18
... balances; futhermore, the Bank of Canada’s target level of balances for a given day is always announced by 4:30 p.m the previous day (Bank of Canada, 200 1a) Thus for Canada, u = each day 37 channel), ... pay another bank a higher rate for overnight cash than the rate at which it could borrow from the central bank; similarly, no bank has any reason to lend overnight cash at a rate lower than the ... reserve maintenance period, as discussed above 32 This is called the “target rate in Canada and Australia, and the “official cash rate (OCR) in New Zealand; in all of these countries, changes in the...
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monetary policy in the information economy
Ngày tải lên :
29/11/2014, 11:26
... balances; futhermore, the Bank of Canada’s target level of balances for a given day is always announced by 4:30 p.m the previous day (Bank of Canada, 200 1a) Thus for Canada, u = each day 37 channel), ... pay another bank a higher rate for overnight cash than the rate at which it could borrow from the central bank; similarly, no bank has any reason to lend overnight cash at a rate lower than the ... reserve maintenance period, as discussed above 32 This is called the “target rate in Canada and Australia, and the “official cash rate (OCR) in New Zealand; in all of these countries, changes in the...
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Tài liệu Higher economic growth through macroeconomic policy coordination? The combination of wage policy and monetary policy docx
Ngày tải lên :
20/02/2014, 20:20
... authori3 The cause of the increase in production potential is irrelevant for the further analysis The increase could also be caused by a favorable fiscal policy or other exogenous factors In reality, ... section, the analytical apparatus has been changed Instead of using a small theoretical model, we will investigate the effects of coordinating wage and monetary policies as part of a detailed macroeconometric ... for supply and demand in the labor market, the aims of labor market policy and labor procurement programs In general, the so-called Wassenaar Accord from 1982 is seen as the foundation for the...
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the evolution of monetary policy and banking in the us (2008)
Ngày tải lên :
30/10/2014, 17:01
... Bank Management and Portfolio Behavior (Yale 1975), was a large empirical study of commercial and mutual savings banks in the U.S After it appeared and a year spent as an academic visitor at the ... re-emergence of the federal funds market after about a 25-year hiatus As can be seen in Table 2, the real federal funds rate, the nominal rate minus the contemporaneous rate of inflation of the GDP price ... sometimes targets are called “goals” and indicators are called “operating targets.” Indicators such as monetary aggregates and bank credit measures are occasionally called “intermediate targets” and...
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Thuyết trình tài chính quốc tế CAN CENTRAL BANKS’ MONETARY POLICY BE DESCRIBED BY A LINEAR (AUGMENTED) TAYLOR RULE OR BY A NONLINEAR RULE
Ngày tải lên :
21/06/2015, 23:44
... spead futures interest rate spead Biến credit spread xem báo tốt cho chu kỳ kinh doanh căng thẳng tài chính, thay đổi mức chênh lệch lãi suất (interest rate spread) hợp đồng tương lai báo độ dao ... tắc Taylor tuyến tính Vì NHTW không hướng tới lạm phát hay khứ mà hướng tới lạm phát kỳ vọng Clarida cộng (1998) đề xuất sử dụng quy tắc Taylor dạng forward-looking • E kỳ vọng • Ωt vector ch a ... NGHIÊN CỨU TRƯỚC ĐÂY QUY TẮC TAYLOR TUYẾN TÍNH QUY TẮC TAYLOR PHI TUYẾN TÍNH KẾT LUẬN PHẦN PHẦN PHẦN PHẦN PHẦN Quy tắc Taylor tuyến tính Quy tắc Taylor tuyến tính Taylor đ a năm 1993 nhằm mô tả đặc...
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Thuyết trình tài chính quốc tế Can central bank’s monetary policy be described by a linear (augmented) Taylor rule or by a monetary rule
Ngày tải lên :
14/07/2015, 08:34
... potential a decrease in the interest rate will have a stabilizing effect on the economy The interest rate is adjusted to desired rate gradually The central banks’ monetary policy can indeed ... also investigated by Montagnoli and Napolitano (2005) They build and use a financial conditional indicator that includes the exchange rate, share prices and house prices in the estimation of a ... financial variables in the rule Modeling the nonlinear Taylor rule COMPANY LOGO www.themegallery.com Specification and estimation of the linear Taylor rule The linear Taylor rule The forward-looking...
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Tiểu luận tài chính quốc tế Can central banks’ monetary policy be described by a linear (augmented) Taylor rule or by a nonlinear rule
Ngày tải lên :
14/07/2015, 08:37
... tế vĩ mô phi tuyến tính (Dolado et al., 2005), nonlinear central bank preferences (Dolado et al., 2000; Nobay and Peel, 2003; Ruge-Murcia, 2003 and Surico, 200 7a) or both (Surico, 2007b) Đặc ... lọc Kalman thông qua công thức (9) dạng state-space: Trong đó, sai số xem nhiễu trắng độc lập với ma trận phương sai – hiệp phương sai cho Var(µt) = Q Var(ωt) = R, Var(µtωs) = với tất t s X ma trận ... forward-looking Taylor khu vực EU Phương pháp GMM sử dụng để ước lượng hệ số quy tắc forward-looking Taylor có sử dụng điều chỉnh dần lãi suất (thể đâu quy tắc Taylor GMM?) Chỉ cần độ trễ (lag)...
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Ensuring Financial Stability: Financial Structure and the Impact of Monetary Policy on Asset Prices
Ngày tải lên :
24/10/2012, 09:40
... rate for Belgium, Sweden and the US, and a three-month commercial paper rate for Australia, Canada and Japan.13 All interest rates are from the OECD's MEI For Finland and Denmark missing data ... are available for Australia, Canada, Switzerland, Denmark, Finland, France, the Netherlands, Sweden, the UK and the US For, Belgium we link an older series for small and medium-sized houses to the ... reactions of the other variables to a monetary policy shock are essentially the same A third important characteristic of the financial system is the LTV ratio A high LTV ratio means that households...
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