國立虎尾科技大學 |

Unraveling the Nexus Between Monetary Policy and Macroeconomic Performance : = Evidence From the United States.

Record Type:	Language materials, manuscript : Monograph/item
Title/Author:	Unraveling the Nexus Between Monetary Policy and Macroeconomic Performance :/
Reminder of title:	Evidence From the United States.
Author:	Addo, Evans Dapaa.
Description:	1 online resource (185 pages)
Notes:	Source: Dissertations Abstracts International, Volume: 85-02, Section: A.
Contained By:	Dissertations Abstracts International85-02A.
Subject:	Finance. -
Online resource:	click for full text (PQDT)
ISBN:	9798380119115

Unraveling the Nexus Between Monetary Policy and Macroeconomic Performance : = Evidence From the United States.
Addo, Evans Dapaa.

Unraveling the Nexus Between Monetary Policy and Macroeconomic Performance :Evidence From the United States. - 1 online resource (185 pages)

Source: Dissertations Abstracts International, Volume: 85-02, Section: A.

Thesis (Ph.D.)--Middle Tennessee State University, 2023.

Includes bibliographical references

This dissertation comprises three distinct chapters, each serving as an individual publishable paper. Although these chapters share common empirical tools, the models employed in each chapter are independent of one another. As a result, each chapter is self-contained and can be comprehended separately, making its unique contribution to the subject under investigation.In the first chapter, titled "Performance Comparison of Banks Stability and Profitability Under Inflation Targeting Frameworks," the study examines the impact of traditional inflation targeting and average inflation targeting on the stability and profitability of banks in the United States. It utilizes a sample of over 1000 banks from 2004 to 2022 and employs the fixed-effect estimator with AR (1). The findings of this study reveal that banks exhibit lower stability and reduced profitability during periods of both traditional and average inflation targeting. Furthermore, when comparing traditional inflation targeting to average inflation targeting, banks demonstrate even lower stability and experience further reductions in profitability during periods of average inflation targeting compared to periods of traditional inflation targeting.In the second chapter, titled "Analyzing the combined impact of monetary policy instruments on the profitability of banks," this study examines the combined effect of monetary policy tools on bank profitability in the US using a sample of over 1000 banks from 2004 to 2022. Employing the two-step system generalized method of moments estimator, the results of this study show that ignoring the combination of monetary policy tools in bank profitability analysis can lead to biased and inconsistent conclusions. The study shows that the federal fund rate is negatively related to bank profit when the combination of monetary policy tools is not considered. Also, the long-term bond yield is positively related to bank profitability. Additionally, the combination of monetary policy tools is positively related to bank profitability, demonstrating that other monetary policy tools influence each monetary policy tool's impact on bank profit.In the third chapter, titled "Average Inflation Targeting and Its Effect on Macroeconomic Outcomes in the United States," this paper analyzes the effect of the adoption of average inflation targeting on macroeconomic outcomes in the United States. Using the three stage least square method of estimation, this study contributes to the monetary policy literature by showing how the Federal Reserve's monetary policy has impacted economic growth and stability. In general, the study finds that the direct effects of the adoption of AIT is an increase in the percentage change in the inflation rate and interest rate. Also, the adoption of AIT has led to an increase in the percentage change in output when there is no inclusion of lagged variables. Lastly, the total effect of the implementation of AIT is an increase in both inflation rate and interest rate.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2024

Mode of access: World Wide Web

ISBN: 9798380119115Subjects--Topical Terms:

559073
Finance.
Subjects--Index Terms:

Average inflation targetingIndex Terms--Genre/Form:

554714
Electronic books.

Unraveling the Nexus Between Monetary Policy and Macroeconomic Performance : = Evidence From the United States.
LDR:04478ntm a22004097 4500 001 1143474
005 20240517100611.5
006 m o d
007 cr mn ---uuuuu
008 250605s2023 xx obm 000 0 eng d
020 $a 9798380119115
035 $a (MiAaPQ)AAI30573260
035 $a AAI30573260
040 $a MiAaPQ $b eng $c MiAaPQ $d NTU
100 1 $a Addo, Evans Dapaa. $3 1468179
245 1 0 $a Unraveling the Nexus Between Monetary Policy and Macroeconomic Performance : $b Evidence From the United States.
264 0 $c 2023
300 $a 1 online resource (185 pages)
336 $a text $b txt $2 rdacontent
337 $a computer $b c $2 rdamedia
338 $a online resource $b cr $2 rdacarrier
500 $a Source: Dissertations Abstracts International, Volume: 85-02, Section: A.
500 $a Advisor: Fowler, Stuart.
502 $a Thesis (Ph.D.)--Middle Tennessee State University, 2023.
504 $a Includes bibliographical references
520 $a This dissertation comprises three distinct chapters, each serving as an individual publishable paper. Although these chapters share common empirical tools, the models employed in each chapter are independent of one another. As a result, each chapter is self-contained and can be comprehended separately, making its unique contribution to the subject under investigation.In the first chapter, titled "Performance Comparison of Banks Stability and Profitability Under Inflation Targeting Frameworks," the study examines the impact of traditional inflation targeting and average inflation targeting on the stability and profitability of banks in the United States. It utilizes a sample of over 1000 banks from 2004 to 2022 and employs the fixed-effect estimator with AR (1). The findings of this study reveal that banks exhibit lower stability and reduced profitability during periods of both traditional and average inflation targeting. Furthermore, when comparing traditional inflation targeting to average inflation targeting, banks demonstrate even lower stability and experience further reductions in profitability during periods of average inflation targeting compared to periods of traditional inflation targeting.In the second chapter, titled "Analyzing the combined impact of monetary policy instruments on the profitability of banks," this study examines the combined effect of monetary policy tools on bank profitability in the US using a sample of over 1000 banks from 2004 to 2022. Employing the two-step system generalized method of moments estimator, the results of this study show that ignoring the combination of monetary policy tools in bank profitability analysis can lead to biased and inconsistent conclusions. The study shows that the federal fund rate is negatively related to bank profit when the combination of monetary policy tools is not considered. Also, the long-term bond yield is positively related to bank profitability. Additionally, the combination of monetary policy tools is positively related to bank profitability, demonstrating that other monetary policy tools influence each monetary policy tool's impact on bank profit.In the third chapter, titled "Average Inflation Targeting and Its Effect on Macroeconomic Outcomes in the United States," this paper analyzes the effect of the adoption of average inflation targeting on macroeconomic outcomes in the United States. Using the three stage least square method of estimation, this study contributes to the monetary policy literature by showing how the Federal Reserve's monetary policy has impacted economic growth and stability. In general, the study finds that the direct effects of the adoption of AIT is an increase in the percentage change in the inflation rate and interest rate. Also, the adoption of AIT has led to an increase in the percentage change in output when there is no inclusion of lagged variables. Lastly, the total effect of the implementation of AIT is an increase in both inflation rate and interest rate.
533 $a Electronic reproduction. $b Ann Arbor, Mich. : $c ProQuest, $d 2024
538 $a Mode of access: World Wide Web
650 4 $a Finance. $3 559073
650 4 $a Public policy. $3 1002398
653 $a Average inflation targeting
653 $a Profitability
653 $a Banks' stability
653 $a Monetary policy
653 $a Personal consumption expenditure
655 7 $a Electronic books. $2 local $3 554714
690 $a 0501
690 $a 0508
690 $a 0770
690 $a 0630
710 2 $a ProQuest Information and Learning Co. $3 1178819
710 2 $a Middle Tennessee State University. $b Economics & Finance. $3 1468180
773 0 $t Dissertations Abstracts International $g 85-02A.
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=30573260 $z click for full text (PQDT)