Corpus ID: 16406984

Discussion Paper Series Credit Spreads and Monetary Policy

@inproceedings{Crdia2009DiscussionPS,
  title={Discussion Paper Series Credit Spreads and Monetary Policy},
  author={Vasco C{\'u}rdia and M. Woodford},
  year={2009}
}
  • Vasco Cúrdia, M. Woodford
  • Published 2009
  • We consider the desirability of modifying a standard Taylor rule for a central bank’s interest-rate policy to incorporate either an adjustment for changes in interest-rate spreads (as proposed by Taylor, 2008, and by McCulley and Toloui, 2008) or a response to variations in the aggregate volume of credit (as proposed by Christiano et al., 2007). We consider the consequences of such adjustments for the way in which policy would respond to a variety of types of possible economic disturbances… CONTINUE READING

    References

    SHOWING 1-10 OF 23 REFERENCES
    An Optimization-Based Econometric Framework for the Evaluation of Monetary Policy
    • 2,108
    • PDF
    Discretion versus Policy Rules in Practice
    • 1,865
    • PDF
    A Black Swan in the Money Market
    • 661
    • PDF
    Monetary Policy and Stock Market Boom-Bust Cycles
    • 361
    • Highly Influential
    • PDF
    INTEREST AND PRICES: FOUNDATIONS OF A THEORY OF MONETARY POLICY
    • 5,760
    • PDF
    Optimal random monetary policy with nominal rigidity
    • Bill Dupor
    • Economics, Computer Science
    • J. Econ. Theory
    • 2003
    • 19
    The Science of Monetary Policy: a New Keynesian Perspective
    • 5,146
    • Highly Influential
    • PDF
    Housing and Monetary Policy
    • 655
    • PDF
    Further Results on a Black Swan in the Money Market
    • 77
    • PDF