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Monetary Policy Coordination and the Role of Central Banks

Monetary Policy Coordination and the Role of Central Banks »

Volume/Issue: 2014/70

Series: IMF Working Papers

Author(s): Rakesh Mohan , and Muneesh Kapur

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 April 2014

DOI: http://dx.doi.org/10.5089/9781484362518.001

ISBN: 9781484362518

Keywords: coordination, unconventional monetary policy, monetary policies, monetary fund, central bank, Monetary Policy (Targets, Instruments, and Effects), International Monetary Arrangements and Institutions, International Policy Coordination and Transmission,

The unconventional monetary policies (UMPs) pursued by the advanced economies (AEs) have posed macroeconomic challenges for the emerging market economies (EMEs) through volatile capital flows and exchange rates. AE...

The Use and Abuse of Taylor Rules
			: How Precisely Can We Estimate Them?

The Use and Abuse of Taylor Rules : How Precisely Can We Estimate Them? »

Volume/Issue: 2005/148

Series: IMF Working Papers

Author(s): Robert Tchaidze , and Alina Carare

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2005

DOI: http://dx.doi.org/10.5089/9781451861679.001

ISBN: 9781451861679

Keywords: central bank, Taylor rules, inflation, monetary policy rules, monetary economics,

This paper draws attention to inconsistencies in estimating simple monetary policy rules and their implications for policy advice. We simulate a macroeconomic model with a backward reaction function similar to Tayl...