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The external finance premium in the euro area A useful indicator for monetary policy?

Gelain, Paolo - 2010

ingredient to model. In fact, I found that the estimated premium is a very powerful predictor of inflation. It overcomes, in …

Persistent link: https://www.econbiz.de/10011605217

Policy Rate Decisions and Unbiased Parameter Estimation in Typical Monetary Policy Rules

Podpiera, Jirí - 2021

Policymakers do not always follow a simple rule for setting policy rates for various reasons and thus their choices are co-driven by a decision to follow a rule or not. Consequently, some observations are censored and cause bias in conventional estimators of typical Taylor rules. To account for...

Persistent link: https://www.econbiz.de/10013317042

Euro area inflation persistence

Batini, Nicoletta - 2002

This paper presents evidence on the lag between monetary policy actions and the response of inflation in the euro area … monetary policy regime thereafter. Results based on alternative definitions of inflation persistence support these findings …, although, they suggest that at the country level, a drop in German inflation persistence and a sizeable shift in the mean of …

Persistent link: https://www.econbiz.de/10011604247

The External Finance Premium in the Euro Area : A Useful Indicator for Monetary Policy?

Gelain, Paolo - 2010

ingredient to model. In fact, I found that the estimated premium is a very powerful predictor of inflation. It overcomes, in …

Persistent link: https://www.econbiz.de/10013145340

Dynamics and Monetary Policy in a Fair Wage Model of the Business Cycle

De la Croix, David - 2007

other sources of sluggishness to explain the observed high inflation persistence. Second, we confront empirically our fair … inflation outcomes …

Persistent link: https://www.econbiz.de/10012777408

Monetary policy transmission in segmented markets

Eisenschmidt, Jens; Ma, Yiming; Zhang, Anthony Lee - 2022

We show that dealer market power impedes the pass-through of monetary policy in repo markets, which is an important first stage of monetary policy transmission. In the European repo market, most participants do not have access to trade on centralized exchanges. Rather, they rely on OTC...

Persistent link: https://www.econbiz.de/10014278444

Tell me something I don't already know: Learning in low and high-inflation settings

Weber, Michael; Candia, Bernardo; Afrouzi, Hassan; … - 2024

environment affects how agents learn from new information. We show that as inflation rose in advanced economies, both households … and firms became more attentive and informed about publicly available news about inflation, leading them to respond less … to exogenously provided information about inflation and monetary policy. We also study the effects of RCTs in countries …

Persistent link: https://www.econbiz.de/10014543627

On the credit and exchange rate channels of central bank asset purchases in a monetary union

Darracq Pariès, Matthieu; Papadopoulou, Niki - 2019

Through the euro area crisis, financial fragmentation across jurisdictions became a prime concern for the single monetary policy. The ECB broadened the scope of its instruments and enacted a series of non-standard measures to engineer an appropriate degree of policy accommodation. The...

Persistent link: https://www.econbiz.de/10012142103

Macroprudential policy measures: Macroeconomic impact and interaction with monetary policy

Cozzi, Guido; Darracq Pariès, Matthieu; Karadi, Peter; … - 2020

This paper examines the interactions of macroprudential and monetary policies. We find, using a range of macroeconomic models used at the European Central Bank, that in the long run, a 1% bank capital requirement increase has a small impact on GDP. In the short run, GDP declines by 0.15-0.35%....

Persistent link: https://www.econbiz.de/10012422038

Monetary policy and bank stability: The analytical toolbox reviewed

Albertazzi, Ugo; Barbiero, Francesca; Marqués … - 2020

The response of major central banks to the global financial crisis has revived the debate around the interactions between monetary policy (MP) and bank stability. This technical paper sheds light, quantitatively, on the different mechanisms underlying the relationship between MP and bank...

Persistent link: https://www.econbiz.de/10012422039