Showing 1 - 10 of 21,863
The complexity resulting from intertwined uncertainties regarding model misspecification and mismeasurement of the … of robust policy guides aiming to maintain stability in the economy while recognizing this complexity. We document … simple interest rate rule is employed to interpret ECB policy since 1999. An evaluation of alternative policy rules across 11 …
Persistent link: https://www.econbiz.de/10011084255
The complexity resulting from intertwined uncertainties regarding model misspecification and mismeasurement of the … of robust policy guides aiming to maintain stability in the economy while recognizing this complexity. We document … simple interest rate rule is employed to interpret ECB policy since 1999. An evaluation of alternative policy rules across 11 …
Persistent link: https://www.econbiz.de/10010955285
The complexity resulting from intertwined uncertainties regarding model misspecification and mismeasurement of the … of robust policy guides aiming to maintain stability in the economy while recognizing this complexity. We document … simple interest rate rule is employed to interpret ECB policy since 1999. An evaluation of alternative policy rules across 11 …
Persistent link: https://www.econbiz.de/10010958780
ECB? How activist should a central bank be in tackling perceived asset price misalignments? Does the ECB's monetary …
Persistent link: https://www.econbiz.de/10008468693
Central banks have responded with exceptional vigour to the crisis by using their traditional interest-rate tools to their limits and deploying a wide range of unconventional measures. This paper documents these responses in a systematic way, reviews the evidence about their impact, and...
Persistent link: https://www.econbiz.de/10008542499
By the early 2000s an increasing number of countries had adopted a well-defined central bank framework, characterized by two intertwined features: stronger specialization for the banking authority in achieving monetary policy goals, and a lessening of its traditional responsibilities for the...
Persistent link: https://www.econbiz.de/10010643613
We study the role of transparency in an environment of robust monetary policy under wage bargaining. The standard view from the game-theoretical literature is that, with unionised labour markets, monetary policy transparency is unambiguously “bad” (it induces increases in wage and price...
Persistent link: https://www.econbiz.de/10011048871
In its Monthly Bulletin of November 2002, the European Central Bank (ECB) stated that the monthly press conference held … react to the information released by the ECB. We found that the public not only understand but also believe the signals sent …
Persistent link: https://www.econbiz.de/10010746693
Following the intensification of the international financial crisis in autumn 2008, the functioning of the financial system was seriously hindered. Central banks around the world responded firmly by lowering their key interest rates to historically low levels. As financial conditions did not...
Persistent link: https://www.econbiz.de/10010625569
and points out that the ECB acted less unconventionally than other international central banks. Moreover, the ECB did some … tentative attempts to exit the expansionary monetary policy measures. Although the ECB operates at the zero lower bound of … helped to mitigate the negative effects of the crisis with positive effects on output and prices. However, the ECB has become …
Persistent link: https://www.econbiz.de/10011128207