Add to ORKGThe estimation of monetary policy rules suggests that the interest rates set by central banks move with a certain inertia. Although a number of hypotheses have been suggested to explain this phenomenon, its ultimate origin is unclear, thus delineating this issue as a modern "puzzle" in monetary economics. We show that household's preferences can play an important role in determining optimal interest rate inertia. Importantly, this can occur even when the central bank has egligible preferences for smoothing the interest rate
Explanations of why the monetary authorities in different countries seem to smooth interest rates ha...
This thesis, motivated by my reflections about the failings of monetary policy implementation as a c...
This paper estimates central bank policy preferences in the case of the European Monetary Union and ...
The estimation of monetary policy rules suggests that the interest rates set by central banks move w...
Absract Interest rates set by central banks puzzlingly move with a certain inertia. We show that ho...
The inertia found in econometric estimates of interest rate rules is a continuing puzzle. Many reaso...
While the degree of policy inertia in central banks’ reaction functions is a central ingredient in t...
While the degree of policy inertia in central banks reaction functions is a central ingredient in th...
A key issue in monetary policy is that on the importance of following systematic behaviours. The pap...
We extend the New Keynesian Monetary Policy literature relaxing the assumption that the decisions ar...
This paper examines interest rate inertia in empirical and optimal monetary pol-icy rules. Estimated...
This paper considers the desirability of the observed tendency of central banks to adjust interest r...
Even in the face of a continuously changing economic environment, interest rates often remain unadju...
The present paper studies optimal monetary policy when the representative agent assumption is abando...
Using an estimated dynamic stochastic general equilibrium model with banking, this paper first provi...
Explanations of why the monetary authorities in different countries seem to smooth interest rates ha...
This thesis, motivated by my reflections about the failings of monetary policy implementation as a c...
This paper estimates central bank policy preferences in the case of the European Monetary Union and ...
The estimation of monetary policy rules suggests that the interest rates set by central banks move w...
Absract Interest rates set by central banks puzzlingly move with a certain inertia. We show that ho...
The inertia found in econometric estimates of interest rate rules is a continuing puzzle. Many reaso...
While the degree of policy inertia in central banks’ reaction functions is a central ingredient in t...
While the degree of policy inertia in central banks reaction functions is a central ingredient in th...
A key issue in monetary policy is that on the importance of following systematic behaviours. The pap...
We extend the New Keynesian Monetary Policy literature relaxing the assumption that the decisions ar...
This paper examines interest rate inertia in empirical and optimal monetary pol-icy rules. Estimated...
This paper considers the desirability of the observed tendency of central banks to adjust interest r...
Even in the face of a continuously changing economic environment, interest rates often remain unadju...
The present paper studies optimal monetary policy when the representative agent assumption is abando...
Using an estimated dynamic stochastic general equilibrium model with banking, this paper first provi...
Explanations of why the monetary authorities in different countries seem to smooth interest rates ha...
This thesis, motivated by my reflections about the failings of monetary policy implementation as a c...
This paper estimates central bank policy preferences in the case of the European Monetary Union and ...