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Instruments of Monetary Policy. (2004). Teles, Pedro ; Correia, Isabel ; Adao, Bernardino ; Ado, Bernardino .
In: Economic Bulletin and Financial Stability Report Articles and Banco de Portugal Economic Studies.
RePEc:ptu:bdpart:b200405.

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Cocites: 50

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  1. Central bank policy instrument forecasts. (2015). Rhee, Hyuk ; Turdaliev, Nurlan.
    In: Journal of Economic Interaction and Coordination.
    RePEc:spr:jeicoo:v:10:y:2015:i:2:p:221-245.

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  2. Central bank transparency: Does it matter?. (2013). Rhee, Hyuk-jae ; Turdaliev, Nurlan .
    In: International Review of Economics & Finance.
    RePEc:eee:reveco:v:27:y:2013:i:c:p:183-197.

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References

References cited by this document

  1. Adão, Bernardino, Isabel Correia and Pedro Teles, 2003, Gaps and Triangles, Review of Economic Studies, 70, p. 699-713.

  2. Adão, Bernardino, Isabel Correia and Pedro Teles, 2004, Instruments of Monetary Policy, mimeo, Federal Reserve Bank of Chicago.

  3. Banco de Portugal / Economic bulletin / June 2004 37 Articles
    Paper not yet in RePEc: Add citation now
  4. Farmer, Roger, 1993, The Macroeconomics of Self-Fulfilling Prophecies, MIT Press.

  5. Friedman, Milton, 1968, The Role of Monetary Policy, American Economic Review, 58, 1-17.
    Paper not yet in RePEc: Add citation now
  6. McCallum, Bennett, 1981, Price Level Determinacy with Interest Rate Policy Rule and RaBanco de Portugal / Economic bulletin / June 2004 35 Articles t=0 s0 t=1 t=2 (Ah,Ah) (Ah,Am) (Ah,Al) (Am,Ah) (Am,Am) (Am,Al) (Al,Ah) (Al,Am) (Al,Al) Ah Am Al endogenous endogenous Chart 2 INSTRUMENTS (4) If instead, taxes were exogenous, a single monetary instrument would be enough to get a unique equilibrium. For instance if the central bank set exogenously the interest rate and the fiscal authority set taxes exogenously, the price level would be determined by the government intertemporal budget constraint.
    Paper not yet in RePEc: Add citation now
  7. Obstfeld, Maurice and Kenneth Rogoff, 1983, Speculative Hyperinflations in Maximizing Models: Can We Rule Them Out, Journal of Political Economy, 91, 675-687.

  8. Taylor, John B., 1993, `'Discretion Versus Policy Rules in Practice, Carnegie-Rochester Conference Series on Public Policy 39, p. 195-214.

  9. This result is known as the fiscal theory of the price level. See Woodford (2003). tional Expectations, Journal of Monetary Economics, 8, 319-329.
    Paper not yet in RePEc: Add citation now
  10. Woodford, Michael, 2003, Interest and Prices, Princeton University.
    Paper not yet in RePEc: Add citation now

Cocites

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  3. Central bank policy instrument forecasts. (2015). Rhee, Hyuk ; Turdaliev, Nurlan.
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  8. Central bank transparency: Does it matter?. (2013). Rhee, Hyuk-jae ; Turdaliev, Nurlan .
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  47. Instruments of Monetary Policy. (2004). Teles, Pedro ; Correia, Isabel ; Adao, Bernardino ; Ado, Bernardino .
    In: Economic Bulletin and Financial Stability Report Articles and Banco de Portugal Economic Studies.
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