The paper provides a systematic comparison of the Eurosystem, the US Federal Reserve and the Bank of Japan. These … monetary authorities exhibit somewhat different status and tasks, which reflect different historical conditions and national … characteristics. However, widespread changes in central banking practices in the direction of greater independence and increased …

could be the amount purchased by the Federal Reserve in its third round of quantitative easing (QE3). This round of QE was … of England and Bank of Japan engaged in large-scale asset purchase programmes, or quantitative easing (QE)[12]. From the … programme will ultimately be needed. In response to the global financial and economic crisis and its, the Federal Reserve, Bank …

out to be only a slowdown, and inflation never departed from levels consistent with the ECB's quantitative definition of …The US Federal Reserve cut interest rates more vigorously in the recent recession than the European Central Bank did …. By comparison with the Fed, the ECB followed a more measured course of action. We use an estimated dynamic general …

Since the late-1990s, the global economy is characterised by historically low risk premia and an unprecedented widening …) preference shocks ("savings glutʺ hypothesis), and (iii) investment shocks ("investment droughtʺ hypothesis). In order to … imbalances, the United States and emerging Asia, using sign restrictions that are compatible with standard New Keynesian and Real …

reflecting the views of the Federal Reserve Bank of San Francisco or the Board of Governors of the Federal Reserve System …. The views ex- pressed in this paper are my own and should not necessarily be attributed to others at the Federal Reserve … Riksbank “Inflation Targeting” conference, especially my discussant Axel Weber, colleagues throughout the Federal Reserve System …

or in practice does the ECB use a wider variety of information that also includes survey data, exchange rates and … President and / or members of the Governing Council. The present paper focuses on the ECB President’s introductory statement to …. Press Release, 8 May 2003. ECB, 1999. Review of the quantitative reference value for monetary growth. Press release, 2 …

requirements to make the system more stable; and to ensure that the failure of any large firm does not take the economy down with … seek not to undermine our markets but to make them stronger: to promote a vibrant, fair, and transparent finan- cial system … Liquidity Swaps of the Federal Reserve ................ 97 3-12. Tax Share and Discretionary Stimulus …

rates and monetaryaggregates, the accuracy of the forecasts about ECB future actions substantially improves. Moreover …, ECBrhetoric contributes to a better understanding of its policy reaction function, and ECB statementscomplement the information …This paper evaluates the predictive power of different information sets for the European Central Bank(ECB) interest …

or in practice does the ECB use a wider variety of information that also includes survey data, exchange rates and … President and / or members of the Governing Council. The present paper focuses on the ECB President’s introductory statement to …. Press Release, 8 May 2003. ECB, 1999. Review of the quantitative reference value for monetary growth. Press release, 2 …

Federal Reserve’s aggressive easing in response to the shocks of 2001 contributed to an unsustainable recovery biased toward … telling the Federal Reserve to tighten policy forthwith and already blaming the central bank’s prior ease for when the … bad that reality has to get in the way of such a popular story. Well, it is not too bad because if the Federal Reserve …