“The Science of Monetary Policy: A New Keynesian Perspective,” Journal of Economic Literature, vol. 37 (December), pp. 1661–1707. ——— (2000). “Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory,” Quarterly Journal of Economics, vol. 115 (February), pp 147–80. Cohen, Benjamin H., Peter Hördahl, and Dora Xia (2018). “Term Premia: Models and Some Stylized Facts,” BIS Quarterly Review.
The ANPR relates, in part, to some long-standing issues in our current capital rules that have been identified (such as requiring capital for short-term commitments). We also noted that the amended Basel I is intended to mitigate certain competitive inequalities that may arise from the implementation of Basel II rules (such as lowering the risk weight for some residential mortgage exposures).