Search Results

Showing results 1 to 10 of approximately 56.

(refine search)

SORT BY: PREVIOUS / NEXT

All:
Title:
Author:
Abstract:
Keywords:

+ Add Search Parameter

Speech
Food or commodity price shocks and inflation: a central banker's perspective
Plosser, Charles I. (2009-11-19)
A speech presented at "Food and Water - Basic Challenges to International Stability," 2009 Global Conference Series (Part 4), (Global Interdependence Center (GIC) in partnership with the University of Chicago Booth School of Business, Singapore, November 19, 2009
Speech , Paper 30

Working Paper
The term structure of inflation compensation in the nominal yield curve
Tsonevy, Simeon; Pasaogullari, Mehmet (2011)
We propose a DSGE model with regime switching in the central bank?s inflation target to explain inflation compensation in the UK. Taking advantage of the well-documented change in UK monetary policy to adopt inflation targeting, we estimate our model using nominal and inflation-linked Treasury bond data from the UK from 1985 to 2007. We find that this model can account for the term structure of inflation compensation in the nominal yield curve by generating regime-dependent conditional expectations of future inflation.
Working Papers (Old Series) , Paper 1133

Journal Article
The financial crisis and inflation expectations
Zorrilla, Oskar; Trehan, Bharat (2012)
One measure of a successful monetary policy is its ability to anchor expectations about future inflation rates. Financial crises, such as that of 2008?09, can be considered natural experiments that test this anchoring. The effects of the crisis on inflation expectations were largely temporary in the United States, but longer-lasting in the United Kingdom. That is surprising because the United Kingdom had a formal inflation target during this period. Expectations may have been affected more because inflation stayed above the central bank?s target for extended periods following the crisis.
FRBSF Economic Letter

Working Paper
Monetary policy in a forward-looking input-output economy
Strum, Brad E. (2008)
This paper examines the implications for monetary policy of sticky prices in both final and intermediate goods in a New Keynesian model. Both optimal policy under commitment and discretionary policy, which is the minimization of a simple loss function, are studied. Consumer utility losses under alternative simple loss functions are compared, including their robustness to model and shock misperceptions, and parameter uncertainty. Targeting inflation in both consumer and intermediate goods performs better than targeting a single price index; price-level targeting of both consumer and ...
Finance and Economics Discussion Series , Paper 2008-33

Why the Same Inflation Target May Not Fit All Countries
Chien, YiLi; Bennett, Julie (2020-08-27)
The central banks of many advanced economies have adopted an inflation target at around 2%. But should they use the same target?
On the Economy

Journal Article
Can we rely on market-based inflation forecasts?
McCarthy, Erin; Bauer, Michael D. (2015)
A substantial decline in market-based measures of inflation expectations has raised concerns about low future inflation. An important question to address is whether the forecasts based on market information are as accurate as alternative forecasting methods. Compared against surveys of professional forecasters and other simple constant measurement tools, market-based inflation expectations are poor predictors of future inflation. This suggests that these measures contain little forward-looking information about future inflation.
FRBSF Economic Letter

Working Paper
The Perils of Nominal Targets
Armenter, Roc (2016-11-10)
A monetary authority can be committed to pursuing an inflation, price-level, or nominal-GDP target yet systematically fail to achieve the prescribed goal. Con- strained by the zero lower bound on the policy rate, the monetary authority is unable to implement its objectives when private-sector expectations stray far enough from the target. Low-inflation expectations become self-fulfilling, resulting in an additional Markov equilibrium in which the monetary authority falls short of the nominal target, average output is below its efficient level, and the policy rate is typically low. Introducing ...
Working Papers , Paper 16-30

Working Paper
Monetary Policy and Durable Goods
House, Christopher L.; Kimball, Miles; Boehm, Christoph E.; Barsky, Robert (2016-11-06)
We analyze monetary policy in a New Keynesian model with durable and nondurable goods each with a separate degree of price rigidity. The model behavior is governed by two New Keynesian Phillips Curves. If durable goods are sufficiently long-lived we obtain an intriguing variant of the well-known ?divine coincidence.? In our model, the output gap depends only on inflation in the durable goods sector. We then analyze the optimal Taylor rule for this economy. If the monetary authority wants to stabilize the aggregate output gap, it places much more emphasis on stabilizing durable goods inflation ...
Working Paper Series , Paper WP-2016-18

Conference Paper
Opening Remarks: New Economic Challenges and the Fed's Monetary Policy Review
Powell, Jerome H. (2020-08-27)
Federal Reserve Chair Powell's opening remarks, Jackson Hole Symposium, August 2020.
Proceedings - Economic Policy Symposium - Jackson Hole

Working Paper
Did the Federal Reserve Break the Phillips Curve? Theory and Evidence of Anchoring Inflation Expectations
Bundick, Brent; Smith, Andrew Lee (2020-09-03)
In a macroeconomic model with drifting long-run inflation expectations, the anchoring of inflation expectations manifests in two testable predictions. First, expectations about inflation far in the future should no longer respond to news about current inflation. Second, better-anchored inflation expectations weaken the relationship between unemployment and inflation, flattening the reduced-form Phillips curve. We evaluate both predictions and find that communication of a numerical inflation objective better anchored inflation expectations in the United States but failed to anchor expectations ...
Research Working Paper , Paper RWP 20-11

show more (1)

show more (23)

PREVIOUS / NEXT

Fed in Print

Search Results

FILTER BY year

FILTER BY Bank

FILTER BY Series

FILTER BY Content Type

FILTER BY Author

FILTER BY Jel Classification

FILTER BY Keywords