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Forecasting ECB policy rates with different monetary policy rules
Belke, Ansgar; Klose, Jens - 2019
This article compares two types of monetary policy rules - the Taylor-Rule and the Orphanides-Rule - with respect to their forecasting properties for the policy rates of the European Central Bank. In this respect the basic rules, results from estimated models and augmented rules are compared....
Persistent link: https://www.econbiz.de/10012063951
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Forecasting ECB policy rates with different monetary policy rules
Belke, Ansgar; Klose, Jens - 2019
-Regel - hinsichtlich ihrer Prognosefähigkeit des Leitzinses der Europäischen Zentralbank miteinander. Es werden die Standardregeln …
Persistent link: https://www.econbiz.de/10012034314
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Central bank communication : managing expectations through the monetary dialogue
Belke, Ansgar - 2017
Kontext einer sich entwickelnden neuen unkonventionellen Geldpolitik. Kommunikation wird als eine geldpolitische Politikoption … zur Minimierung von Risiken beschrieben, die im Kontext des Ausstiegs aus der unkonventionellen Geldpolitik entstehen …
Persistent link: https://www.econbiz.de/10011644116
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Central bank communication : managing expectations through the monetary dialogue
Belke, Ansgar - 2017
Successfully managing a course back to normality ("exit") will depend crucially on the central banks' ability to communicate effectively a credible strategy for an orderly exit from such kind of policies. In this context, clear, deliberate, coordinated messages that are anchored in the central...
Persistent link: https://www.econbiz.de/10011691556
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Non-standard monetary policy measures : magic wand or tiger by the tail?
Belke, Ansgar - 2013
This paper briefly assesses the effectiveness of the different non-standard monetary policy tools in the Euro Area. Its main focus is on the Outright Monetary Transactions (OMT) Programme which is praised by some as the ECB’s “magic wand”. Moreover, it discloses further possible unintended...
Persistent link: https://www.econbiz.de/10010195538
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Non-standard monetary policy measures : magic wand or tiger by the tail?
Belke, Ansgar - 2014
This paper briefly assesses the effectiveness of the different non-standard monetary policy tools in the Euro Area. Its main focus is on the Outright Monetary Transactions (OMT) Programme which is praised by some as the ECB’s “magic wand”. Moreover, it discloses further possible unintended...
Persistent link: https://www.econbiz.de/10010350450
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Monetary dialogue 2009 - 2014 : looking backward, looking forward
Belke, Ansgar - 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/10010350483
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Monetary dialogue 2009 - 2014 : looking backward, looking forward
Belke, Ansgar - 2014
gegenwärtig stark verändernden Geldpolitik. Die Diskussion wird geführt im Hinblick auf die Verwendung eines Zinsausblicks … („Forward Guidance“) durch die Europäische Zentralbank (EZB) im Rahmen ihrer Transparenzoffensive, die Modellwahl und … Geldpolitik der EZB. …
Persistent link: https://www.econbiz.de/10010259542
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Unconventional monetary policy and inflation expectations in the euro area
Aßhoff, Sina; Belke, Ansgar; Osowski, Thomas - 2020
Auswirkungen der unkonventionellen Geldpolitik ist nicht trivial, da standardisierte empirische Instrumente wie die VAR … Problem zu lösen. Wir stellen fest, dass die unkonventionelle Geldpolitik zwar kurzfristig zu einem Anstieg der … beigetragen hat. Dennoch deuten sie auf einen durch die unkonventionelle Geldpolitik ausgelösten Anstieg des mittelfristigen …
Persistent link: https://www.econbiz.de/10012149519
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Monetary policy, global liquidity and commodity price dynamics
Belke, Ansgar; Bordon, Ingo G.; Hendricks, Torben - 2010
This paper examines the interactions between money, interest rates, goods and commodity prices at a global level. For this purpose, we aggregate data for major OECD countries and follow the Johansen/Juselius cointegrated VAR approach. Our empirical model supports the view that, when controlling...
Persistent link: https://www.econbiz.de/10003931399