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How much fiscal backing must the ECB have? The euro area is not (yet) the Philippines

Belke, Ansgar; Polleit, Thorsten - In: Economie Internationale (2010) 124

This paper gives a detailed explanation of why a central bank without fiscal backing can lose control of inflation. Moreover, it argues that such danger emerged only recently for the ECB due to its increasing quasi-fiscal activities. Finally we argue that it might not generally be a good idea to...

Persistent link: https://www.econbiz.de/10010827744

The European Central Bank and the Financing Conditions of Small and Medium-Sized Enterprises in Europe

Belke, Ansgar; Verheyen, Florian - In: Rivista di Politica Economica (2014) 2, pp. 199-215

Small and medium-sized enterprises (SMEs) play a crucial role in innovation, economic growth and job creation. Generally, SMEs face special problems when trying to access funding. Their situation is further complicated by the European economic crisis and a fragmentation of financial markets in...

Persistent link: https://www.econbiz.de/10010858714

Estimating the Evolution of Money's Role in the U.S. Monetary Business Cycle

Castelnuovo, Efrem - Dipartimento di Scienze Economiche "Marco Fanno", … - 2009

We assess the time-varying money's role in the post-WWII U.S. business cycle by estimating a new-Keynesian framework … policymakers to money growth. Rolling-window Bayesian estimations a la Canova (2009) are contrasted to a full sample fixed …-coefficient investigation. Our results suggest that the assumption of stable parameters is unwarranted. The omission of money may induce biased …

Persistent link: https://www.econbiz.de/10008533554

Does government ideology matter in monetary policy? A panel data analysis for OECD countries

Belke, Ansgar; Potrafke, Niklas - In: Journal of International Money and Finance 31 (2012) 5, pp. 1126-1139

This paper examines whether government ideology has influenced monetary policy in OECD countries. We use quarterly data in the 1980.1–2005.4 period and exclude EMU countries. Our Taylor-rule specification focuses on the interactions of a new time-variant index of central bank independence with...

Persistent link: https://www.econbiz.de/10010599334

Non-Standard Monetary Policy Measures – Magic Wand or Tiger by the Tail?

Belke, Ansgar - In: Review of Economics 64 (2013) 3, pp. 341-364

. Finally, it comes up with some policy implications from differences in money and credit growth in different individual …

Persistent link: https://www.econbiz.de/10011198688

Europäischer geldpolitischer Exit im Zeichen von QE2 und Staatsanleihekäufen der EZB

Belke, Ansgar; Schnabl, Gunther - In: Vierteljahrshefte zur Wirtschaftsforschung / Quarterly … 79 (2010) 4, pp. 147-161

eines koordinierten Exits von Fed und EZB, der koordinierte Exit von Geld- und Fiskalpolitik in der EWU sowie das Auslaufen …

Persistent link: https://www.econbiz.de/10008919645

Monetary Dialogue 2009-2014 – Looking Backward, Looking Forward

Belke, Ansgar - Rheinisch-Westfälisches Institut für … - 2014

This Paper comments on the role of the Monetary Dialogue in the context of an evolving monetary policy. The discussion is conducted in terms of the adoption of forward guidance on interest rates by the European Central Bank (ECB), the ECB’s model choice and data revision policies in inflation...

Persistent link: https://www.econbiz.de/10010860300

Non-Standard Monetary Policy Measures – Magic Wand or Tiger by the Tail?

Belke, Ansgar - Rheinisch-Westfälisches Institut für … - 2013

. Finally, it comes up with some policy implications from differences in money and credit growth in different individual …

Persistent link: https://www.econbiz.de/10010860302

Modifying Taylor reaction functions in the presence of the zero‐lower‐bound — Evidence for the ECB and the Fed

Belke, Ansgar; Klose, Jens - In: Economic Modelling 35 (2013) C, pp. 515-527

inflation gap, money growth and the risk spread, the response to asset price inflation becomes more pronounced during the crisis …

Persistent link: https://www.econbiz.de/10011048833

Europäische Geldpolitik während der europäischen Schuldenkrise: Synopse und Evaluation

Belke, Ansgar; Verheyen, Florian - In: Vierteljahrshefte zur Wirtschaftsforschung / Quarterly … 82 (2013) 2, pp. 97-112

Since the outbreak of the financial market crisis central banks all across the world have tried to counteract the economic downturn with at least partly unconventional measures. This contribution reviews the measures taken in the eurozone and points out that the ECB acted less unconventionally...

Persistent link: https://www.econbiz.de/10011128207

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