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Opting out of the great inflation: German monetary policy after the break down of Bretton Woods

Beyer, Andreas; Gaspar, Vítor; Gerberding, Christina; … - Center for Financial Studies - 2008

interpreted, first and foremost, as a commitment device. In our setting, a monetary target helps anchoring inflation and inflation … well as a strong response to deviations of inflation from target and to the activity growth gap. In contrast, the response …

Persistent link: https://www.econbiz.de/10010986410

Opting out of the Great Inflation: German Monetary Policy after the Break Down of Bretton Woods

Beyer, Andreas; Gaspar, Vítor; Gerberding, Christina; … - Center for Financial Studies - 2009

Persistent link: https://www.econbiz.de/10005007633

Robustly optimal monetary policy with near-rational expectations

Woodford, Michael - Center for Financial Studies - 2005

to be important for optimal policy, that the optimal long-run inflation target is unaffected by the degree of potential …

Persistent link: https://www.econbiz.de/10010958613

Bayesian and adaptive optimal policy under model uncertainty

Svensson, Lars E. O.; Williams, Noah - Center for Financial Studies - 2006

We study the problem of a policymaker who seeks to set policy optimally in an economy where the true economic structure is unobserved, and policymakers optimally learn from their observations of the economy. This is a classic problem of learning and control, variants of which have been studied...

Persistent link: https://www.econbiz.de/10010958767

Robustly Optimal Monetary Policy with Near-Rational Expectations

Woodford, Michael - Center for Financial Studies - 2007

to be important for optimal policy, that the optimal long-run inflation target is unaffected by the degree of potential …

Persistent link: https://www.econbiz.de/10005022441

Bayesian and Adaptive Optimal Policy under Model Uncertainty

Svensson, Lars E.O.; Williams, Noah - Center for Financial Studies - 2007

Persistent link: https://www.econbiz.de/10005600452

Mortgage markets, collateral constraints, and monetary policy: Do institutional factors matter?

Calza, Alessandro; Monacelli, Tommaso; Stracca, Livio - Center for Financial Studies - 2006

We study the role of institutional characteristics of mortgage markets in affecting the strength and timing of the effects of monetary policy shocks on house prices and consumption in a sample of OECD countries. We document three facts: (1) there is significant divergence in the structure of...

Persistent link: https://www.econbiz.de/10010958674

Mortgage Markets, Collateral Constraints, and Monetary Policy: Do Institutional Factors Matter?

Calza, Alessandro; Monacelli, Tommaso; Stracca, Livio - Center for Financial Studies - 2007

Persistent link: https://www.econbiz.de/10005022449

Learning, endogenous indexation and disinflation in the New-Keynesian model

Wieland, Volker - Center for Financial Studies - 2008

disinflation under inflation targeting policies. The analysis is motivated by the disinflation performance of many inflation … episode price-setting firms' expect inflation to be highly persistent and opt for backward-looking indexation. As the central … bank acts to bring inflation under control, price-setting firms revise their estimates of the degree of persistence. Such …

Persistent link: https://www.econbiz.de/10011200313

Risks to price stability, the zero lower bound and forward guidance: A real-time assessment

Coenen, Günter; Warne, Anders - Center for Financial Studies - 2013

is derived from policy-makers' preferences about inflation outcomes, we first show that downside risks to price stability … future inflation can provide insurance against the materialisation of such upside risks. …

Persistent link: https://www.econbiz.de/10010986359