The model reproduces the contractionary effects of monetary policy uncertainty shocks recently documented in the empirical literature. In addition, the model shows that learning reduces the effects of ...

C. Peter McColough Series on International Economics With Governor Rhee Chang Yong of the Bank of Korea Bank of Korea Governor Rhee Chang Yong discusses monetary policy in South Korea and the ...

Research published on March 4 by the Bank for International Settlements offers an explanation of the apparent sensitivity of ...

The empirical model may also be used to construct a way to forecast the dependent variable, potentially helping policymakers make decisions about changes in monetary and/or fiscal policy to keep the ...

It’s more than a shock—it’s a structural change. To get an estimate of how much lower production and incomes would be, you need an economic model. As described in our January Monetary Policy Report ...

Regressions run on model-generated data replicate the important regularities ... the failure of UIP results from the interaction of stochastic exchange market shocks with endogenous monetary policy ...

CFR’s Global Monetary Policy Tracker compiles data from 54 countries around the world to highlight significant global trends in monetary policy. Who is tightening policy? Who is loosening policy?

In addition, we use the model to keep the risk premium constant in the scenario. In the data, the policy responses occur at the same time as broad economic changes. The exchange rate moves because of: ...