… structure of interest rates is affected by monetary policy actions. From the central-bank
reaction function (19), we see that current monetary policy is entirely determined by current infla- …

… of short-term market interest rates. We may … policy procedure pertaining to interest rates as
follows: (I) Throughout its history, the Fed’s policy instrument has been the Federal funds rate …

… interest rates that they use for monetary policy … of monetary policy implementation. The
chapter begins with an exposition of the traditional view of the implementation of monetary policy, …

… interest rate for monetary policy analysis is the interbank rate, denoted R t IB . Since such a
rate serves as the policy rate for … , R t IB will be viewed as the policy instrument in most of our …

Is monetary policy less effective in boosting aggregate demand and output during periods of
persistently low interest rates? This paper reviews the reasons why this might be the case …

… monetary policy easings that lower nominal interest rates with … rates of Divisia money growth
and, conversely, monetary … interest rates with sharp contractions in Divisia money growth…

… the connection between monetary policy and long-term interest rates. Using a … monetary
policy actions, the article argues that the relationship between policy actions and long-term rates …

… interest rates as indicators of monetary policy emerges: If income increases faster than money,
interest rates … increases in the money stock, should monetary policy be called restrictive? …

… As we stated when discussing the monetary policy’s credit channel, a lower interest rate
generally leads to the price of various assets increasing. The value of the bank’s collateral rises …

… interest rates for the interest-rate channel of monetary policy. We simulate several interest-rate
setting policy … We determine the extent to which the zero bound prevents real rates from …