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Potential information and target variables for UK monetary policy
The relationship between traditional monetary policy goal variables (nominal GDP, real GPD and the inflation rate) and a number of financial market variables is investigated. The question examined is which if any of these ...
Monetary policy and long term interest rates: evidence from weekly data
(Elsevier BV, 2006)
This paper assesses the effect of federal funds rate innovations on longer-term US nominal interest rates across different periods. The evidence suggests that these responses change with changes in the monetary policy ...
Monetary policy and interest rates under inflation targeting in Australia and New Zealand
One advantage cited for formal inflation targeting is that by anchoring inflationary expectations this policy framework would aid in the pricing of long-term securities. Long-term interest rates would become less sensitive ...