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Full-Text Articles in Social and Behavioral Sciences
The Impact Of Interest Rate Changes By Federal Reserve On Turkey, King Banaian, Mustafa Goktug Kaya, Orhan Kemal Kaplan
The Impact Of Interest Rate Changes By Federal Reserve On Turkey, King Banaian, Mustafa Goktug Kaya, Orhan Kemal Kaplan
Economics Faculty Publications
Central banks play an important role in the direction of capital flows through the interest rate channel. Capital flows also impact the exchange rate, which are important goals of monetary policy. Due to the prominence of the U.S. Dollar in international trade, decisions made by the Federal Reserve Bank (FED) also affect the decisions of Central Banks of other countries. During the 2008 financial crisis the FED reached the zero-bound of its policy rate (the federal funds rate) and engaged in quantitative easing. This lead to capital outflows from developing countries, who then raised interest rates defensively to protect their …
Fiscal And Monetary Institutions And Policies: Onward And Upward?, King Banaian, Richard C.K. Burdekin, Mark Hallerberg, Pierre L. Siklos
Fiscal And Monetary Institutions And Policies: Onward And Upward?, King Banaian, Richard C.K. Burdekin, Mark Hallerberg, Pierre L. Siklos
Economics Faculty Publications
The latest generation of research into macroeconomic policy has turned from more technical aspects of optimal control and expectations formation to consideration of the policymaking institutions themselves. More and more countries have moved towards greater degrees of central bank independence, including many developing economies as well the member countries of the European Central Bank. What still is not generally settled among economists is how to measure the stance of policy and the institutional features of the policymaking process. Our review encompasses many different measurements of policy stance and policymaking processes. We begin with monetary policy in the following section after …