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Output gaps:theory versus practice
Wouters, Raf; Smets, Frank - Society for Computational Economics - SCE - 2003
Persistent link: https://www.econbiz.de/10005706803
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Inflation persistence and price-setting behaviour in the euro area – a summary of the IPN evidence
Altissimo, Filippo; Ehrmann, Michael; Smets, Frank - 2006
This paper provides a summary of current knowledge on inflation persistence and price stickiness in the euro area …, based on research findings that have been produced in the context of the Inflation Persistence Network. The main findings … are - i) Under the current monetary policy regime, the estimated degree of inflation persistence in the euro area is …
Persistent link: https://www.econbiz.de/10011606198
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The first twenty years of the European Central Bank: Monetary policy
Hartmann, Philipp; Smets, Frank - 2018
On 1 June 2018 the ECB celebrated its 20th anniversary. This paper provides a comprehensive view of the ECB's monetary policy over these two decades. The first section provides a chronological account of the macroeconomic and monetary policy developments in the euro area since the adoption of...
Persistent link: https://www.econbiz.de/10012142063
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Inflation persistence and price-setting behaviour in the euro area: a summary of the Inflation Persistence Network evidence
Altissimo, Filippo; Ehrmann, Michael; Smets, Frank - 2006
This paper provides a summary of current knowledge on inflation persistence and price stickiness in the euro area …, based on research findings that have been produced in the context of the Inflation Persistence Network. The main findings … are: i) Under the current monetary policy regime, the estimated degree of inflation persistence in the euro area is …
Persistent link: https://www.econbiz.de/10011506617
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Inflation persistence and price-setting behaviour in the euro area : a summary of the Inflation Persistence Network evidence
Altissimo, Filippo; Ehrmann, Michael; Smets, Frank - 2006
This paper provides a summary of current knowledge on inflation persistence and price stickiness in the euro area …, based on research findings that have been produced in the context of the Inflation Persistence Network. The main findings … are: i) Under the current monetary policy regime, the estimated degree of inflation persistence in the euro area is …
Persistent link: https://www.econbiz.de/10011622329
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The first twenty years of the European Central Bank : monetary policy
Hartmann, Philipp; Smets, Frank - 2018
On 1 June 2018 the ECB celebrated its 20th anniversary. This paper provides a comprehensive view of the ECB's monetary policy over these two decades. The first section provides a chronological account of the macroeconomic and monetary policy developments in the euro area since the adoption of...
Persistent link: https://www.econbiz.de/10011959260
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A monetary policy strategy in good and bad times: lessons from the recent past
Fahr, Stephan; Motto, Roberto; Rostagno, Massimo; … - 2011
inflation and growth. After the collapse of financial intermediation in late 2008, the strategy of the ECB was to preserve the …
Persistent link: https://www.econbiz.de/10011605382
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What horizon for price stability
Smets, Frank - 2000
the face of unexpected disturbances and the choice of a price level versus an inflation objective. Using a small estimated … generally greater than that for an inflation objective; 3) Even if society cares about inflation stabilisation (rather than the … stabilisation of the price level), it often pays to give the central bank a price level objective (rather than an inflation …
Persistent link: https://www.econbiz.de/10011604070
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Are the effects of monetary policy in the euro area greater in recessions than in booms?
Peersman, Gert; Smets, Frank - 2001
This paper investigates whether monetary policy impulses have asymmetric effects on output growth in seven countries of the euro area (Germany, France, Italy, Spain, Austria, Belgium and the Netherlands). First, it is shown that these seven countries share the same business cycle. Next, strong...
Persistent link: https://www.econbiz.de/10011604098
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An estimated stochastic dynamic general equilibrium model of the euro area
Smets, Frank; Wouters, Raf - 2002
This paper develops and estimates a stochastic dynamic general equilibrium (SDGE) model with sticky prices and wages for the euro area. The model incorporates various other features such as habit formation, costs of adjustment in capital accumulation and variable capacity utilisation. It is...
Persistent link: https://www.econbiz.de/10011604217