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author = "Driffill, John"
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Found 10 documents, displaying page 1 of 1
Exchange rate target zones
Author(s) :
Driffill, John
Description :
A target zone attempts to limit the movement of an exchange rate, avoiding the pitfalls of both a pegged rate and a freely floating rate. The European Monetary System was the prime example. An elegant model of Paul Krugman demonstrates that in theory a target zone does indeed stabilize an exchange r...
Repository :
Birkbeck ePrints
Language(s) :
Undetermined
The Consistency of Optimal Policy in Stochastic Rational Expectations Models
Author(s) :
Driffill, John
Description :
Published in connection with a visit at the IIES.
Repository :
Publikationer från Stockholms universitet
Language(s) :
English
Beyond the Dollar: rethinking the international monetary system
Description :
This report maps out proposals for a new international monetary order and looks at ways in which monetary authorities and political leaders can help prepare the ground for a new system and facilitate the transition.
Repository :
Birkbeck ePrints
Language(s) :
Undetermined
Centralization of Wage Bargaining and Macroeconomic Performance
Description :
Differences in macroeconomic performance among countries are often attributed to differences in wage setting structures. This paper examines the effects of varying degrees of centralization of wage bargaining. The analysis is both theoretical and empirical, and also includes numerical examples. The ...
Repository :
Publikationer från Stockholms universitet
Language(s) :
English
Inflation targeting and exchange rate co-ordination
Description :
In a linear rational expectations two-country model, using an aggregate demand-aggregate
supply framework, we analyze the effects of the adoption of an inflation targeting regime on
exchange rate volatility and the possible scope for policy coordination. This analysis is
conducted using optimized in...
Repository :
RepositóriUM - University of Minho Institutional Repository
Language(s) :
English
Inflation targeting, exchange rate volatility and international policy coordination
Description :
In a linear rational expectations two-country model, using an ag- gregate demand, aggregate supply framework, we analyse the ejects of the adoption of an inflation targeting regime on exchange rate volatility and the possible scope for policy oordination. This analysis is conducted using optimized i...
Repository :
RepositóriUM - University of Minho Institutional Repository
Language(s) :
English
Optimal monetary policy with a regime-switching exchange rate in a forward-looking model
Description :
We evaluate the macroeconomic performance of di¤erent monetary policy rules when there is exchange rate uncertainty. We do this in the context of a non-linear rational expectations model. The exchange rate is allowed to deviate from its fundamental value and the persistence of the deviation is model...
Repository :
RepositóriUM - University of Minho Institutional Repository
Language(s) :
English
Optimal monetary policy with a regime-switching exchange rate in a forward-looking model
Description :
We evaluate the macroeconomic performance of different monetary policy rules when there is exchange rate uncertainty. We do this in the context of a non-linear rational expectations model. The exchange rate is allowed to deviate from its fundamental value and the persistence of the deviation is mode...
Repository :
RepositóriUM - University of Minho Institutional Repository
Language(s) :
English
The effects of different parameterizations of Markov-switching in a CIR model of bond pricing
Description :
We examine several discrete-time versions of the Cox, Ingersoll and Ross (CIR) model for the term structure, in which the short rate is subject to discrete shifts. Our empirical analysis suggests that careful consideration of which parameters of the short-term interest rate equation that are allowed...
Repository :
Birkbeck ePrints
Language(s) :
Undetermined
Monetary policy and financial stability: what role for the futures market?
Description :
This paper examines interactions between monetary policy and financial stability. There is a general view that central banks smooth interest rate changes to enhance the stability of financial markets. But might this induce a moral hazard problem, and induce financial institutions to maintain riskier...
Repository :
Birkbeck ePrints
Language(s) :
Undetermined
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Found 10 documents, displaying page 1 of 1