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A comparison of optimal policy rules prior to and during inflation targeting: empirical evidence from Bank of Canada
(Taylor & Francis, 2017)
We examine policy rules that are consistent with inflation targeting (IT) framework in a small macroeconomic model of the Canadian economy. We set up an optimal linear regulator problem and derive policy rules to compare ...
Catching up or drifting apart: convergence of household and business credit in Europe
(Elsevier, 2017)
We provide evidence for convergence in the levels of household and business credit across European countries. The process is particularly strong for the transition countries that have a low initial level of private credit ...
Effectiveness of monetary policy: evidence from Turkey
(Springer International Publishing, 2017-08)
An effective monetary policy framework is often viewed as a pre-condition for well-functioning financial markets. Yet measuring monetary policy effectiveness is not straightforward; it requires empirical work to understand ...
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