Search Results - "Orphanides, Athanasios"

Monetary Policy Rules Based on Real-Time Data by Orphanides, Athanasios

“…This paper examines the magnitude of informational problems associated with the implementation and interpretation of simple monetary policy rules. Using…”
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Historical monetary policy analysis and the Taylor rule by Orphanides, Athanasios

“…This study examines the usefulness of the Taylor-rule framework as an organizing device for describing the policy debate and evolution of monetary policy in…”
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The Unreliability of Output-Gap Estimates in Real Time by Orphanides, Athanasios, van Norden, Simon

“…We examine the reliability of alternative output detrending methods, with special attention to the accuracy of real-time estimates of the output gap. We show…”
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The Reliability of Inflation Forecasts Based on Output Gap Estimates in Real Time by Orphanides, Athanasios, van Norden, Simon

“…A stable predictive relationship between inflation and the output gap, often referred to as a Phillips curve, provides the basis for countercyclical monetary…”
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Collateral Framework: Liquidity Premia and Multiple Equilibria by LENGWILER, YVAN, ORPHANIDES, ATHANASIOS

“…Central banks normally accept debt of their own governments as collateral in liquidity operations without reservations. This gives rise to a valuable liquidity…”
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The fiscal–monetary policy mix in the euro area: challenges at the zero lower bound by Orphanides, Athanasios

“…SUMMARY This paper explores the reasons for the suboptimal fiscal–monetary policy mix in the euro area in the aftermath of the global financial crisis and ways…”
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War Politics: An Economic, Rational-Voter Framework by Hess, Gregory D, Orphanides, Athanasios

“…The frequency of foreign conflict initiations in the United States is found to be significantly greater following the onset of recessions during a president's…”
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Monetary policy in deflation: the liquidity trap in history and practice by Orphanides, Athanasios

“…The experience of the U.S. economy during the mid-1930s, when short-term nominal interest rates were continuously close to zero, is sometimes taken as evidence…”
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Efficient Monetary Policy Design near Price Stability by Orphanides, Athanasios, Wieland, Volker

“…Using dynamic programming methods, we study the design of optimal monetary policy in a simple, calibrated open-economy model and evaluate the effect of the…”
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The Euro Area Crisis: Politics over Economics by Orphanides, Athanasios

“…This paper explores the dominant role of politics in decisions made by euro area governments during the crisis. Decisions that appear to have been driven by…”
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IMPROVING MONETARY POLICY BY ADOPTING A SIMPLE RULE by Orphanides, Athanasios

“…With the adoption of an inflation target-2 percent, measured by the PCE index-in its Statement on Longer-Run Goals and Monetary Policy Strategy (Federal…”
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Are rules and boundaries sufficient to limit harmful central bank discretion? Lessons from Europe by Orphanides, Athanasios

“…Marvin Goodfriend׳s (2014) insightful, informative and provocative work explains concisely and convincingly why the Fed needs rules and boundaries. This paper…”
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Central Bank Policies and the Debt Trap by Orphanides, Athanasios

“…The combination of high government debt levels and the unprecedented monetary expansion implemented by central banks around the world since the 2008 financial…”
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Term Structure Estimation with Survey Data on Interest Rate Forecasts by Kim, Don H., Orphanides, Athanasios

“…The estimation of dynamic no-arbitrage term structure models with a flexible specification of the market price of risk is beset by severe small-sample problems…”
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Inflation, Volatility and Growth by Judson, Ruth, Orphanides, Athanasios

“…This paper re‐examines the relationship between inflation, inflation volatility and growth, using cross‐country panel data for the past 30 years. With regard…”
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Monetary Policy Rules, Macroeconomic Stability, and Inflation: A View from the Trenches by Orphanides, Athanasios

“…I estimate a forward-looking monetary policy reaction function for the Federal Reserve for the periods before and after Paul Volcker's appointment as Chairman…”
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The term structure and inflation uncertainty by Breach, Tomas, D’Amico, Stefania, Orphanides, Athanasios

“…To assess the importance of inflation risk for nominal Treasury yields, a novel quadratic term structure model with time-varying inflation risk is estimated…”
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The quest for prosperity without inflation by Orphanides, Athanasios

“…In recent years, activist monetary policy rules responding to inflation and the level of economic activity have been advanced as a means of achieving effective…”
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Monetary policy evaluation with noisy information by Orphanides, Athanasios

“…This study investigates the implications of noisy information regarding the measurement of economic activity for the evaluation of monetary policy. Using a…”
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Monetary-Policy Rules and the Great Inflation by Orphanides, Athanasios

“…Close examination of policy during the Great Inflation suggests that actual policy decisions were consistent with application of a modern, systematic,…”
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