The benefits and the costs of the monetary policy alternatives have been debated trough decades, without a consensus of how it should be conducted. The most common instruments are, between other, the interest rate, the ...

Purpose: Though an accumulating body of study has analysed monetary policy transmission in India, there are few studies examining the differential impact of monetary policy action. Against this backdrop, this study aims ...

This paper presents optimal rules for monetary policy in Brazil derived from a backward looking expectation model consisting of a Keynesian IS function and an Augmented Phillips Curve (ISAS). The IS function displays'a ...

We consider the effects of central bank purchases of a risky asset as an additional dimension of policy alongside 'conventional' interest rate policy in a general-equilibrium model of asset pricing with endogenous collateral ...

Consider an economy where infinite-lived agents trade assets collateralized by durable goods. We obtain results that rule out bubbles when the additional endowments of durable goods are uniformly bounded away from zero, ...

What is the relation between infrequent price adjustment and the dynamic response of the aggregate price level to monetary shocks? The answer to this question ranges from a one-to-one link [Calvo, G., 1983. Prices in a ...

The main objective of this paper is to analyze the impact of countercyclical fiscal rules on monetary policy transmission channels. Using a model with portfolio heterogeneity and aggregate uncertainty as a basis, it is ...