Sentences with phrase «bank reaction function»

Not exact matches

That is, both can affect perceptions of the central bank's reaction function.

By conducting policy in a transparent way and communicating what is important in determining the central bank's reaction function, I think policymakers can strike the best balance between a monetary policy that fully incorporates the complexity of the world as it is, while, at the same time, retaining considerable clarity about how the FOMC is likely to respond to changing circumstances.

Note that even an «inflation nutter» central bank will have a positive weight on output in its reaction function, even with a zero weight on output in its objective function (see Debelle 1998).

Secondly, it needs to communicate a general understanding of the central bank's reaction function.

The other major source of information on the central bank's reaction function has been the quarterly inflation reports or their equivalent.

In other words, central bank policymakers have a good grasp on investment community's reaction function, for they often share a common intellectual lineage.

Plosser:» One way to do this is for the central bank to articulate a reaction function or rule that will guide policy decisions.»

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