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Information Asymmetries, Transparency, and Monetary Policy

Hahn, Volker - 2001

Information asymmetries seem to play an important role in monetary economics. We consider three forms of information transmission which can be used to alleviate these information asymmetries. First, if information is verifiable or the publication of information is in the central bank's interest,...

Persistent link: https://www.econbiz.de/10009476206

Firm-level exchange rate exposure in the Eurozone

Hutson, Elaine; O'Driscoll, Anthony

Using a sample of 1154 European firms from 11 countries, we show that firm-levelexchange exposure for Eurozone and non-Eurozone … European firms has increased sincethe introduction of the euro, but this rise was smaller for Eurozone than non … Eurozone countries, so the advent of the euroappears to have been associated with a shift in exchange risk from systematic to …

Persistent link: https://www.econbiz.de/10009475709

Lietuvos pinigų politika

Baranovaitė, Marina - 2005

The object of the study – Lithuanian monetary policy. The purpose of the work – to estimate the level of achieved objectives of Lithuanian monetary policy and to forecast perspectives after joining to European Union. The main tasks: 1. to investigate the objectives, means and results of...

Persistent link: https://www.econbiz.de/10009478782

Loud and clear? Can we hear when the SARB speaks?

Reid M.; Du Plessis S. - 2010

Inflation targeting is a forward-looking framework for monetary policy that has brought unprecedented transparency to the process of monetary policy. This paper aims to assess the degree to which the South African Reserve Bank's (SARB) Monetary Policy Committee (MPC) has, since the introduction...

Persistent link: https://www.econbiz.de/10009480479

The sensitivity of south African inflation expectations to surprises

Reid M. - 2009

Price stability is widely recognised as the primary goal of modern monetary policy, and the management of private sector inflation expectations has become an essential channel through which this goal is achieved. This evaluation aims to improve the understanding of how the sensitivity of private...

Persistent link: https://www.econbiz.de/10009480481

Optimal Central Bank Conservatism and Monopoly Trade Unions

Berger, Helge; Hefeker, Carsten; Schoeb, Ronnie - 2000

The “conservative central banker” has come under attack recently. Explicitly modeling the interaction of a trade union with monetary policy, it has been argued that the standard solution to the inflationary bias in monetary policy might actually be welfare reducing if the trade union has an...

Persistent link: https://www.econbiz.de/10009447268

Monetary Policy without Money: Hamlet without the Ghost

Laidler, David - 2003

Today' standard model of monetary policy has aggregate demand responding directly to an interest rate under the central bank's control, and ignores the role played by the quantity of money in the transmission mechanism. Even though monetary policy is usually aimed at controlling price level...

Persistent link: https://www.econbiz.de/10009447279

Hedger of last resort: evidence from Brazilian FX interventions, local credit, and global financial cycles

Gonzalez, Rodrigo Barbone; Khametshin, Dmitry; Peydró, … - 2020

Este documento demuestra que las políticas de un banco central local pueden atenuar los efectos del ciclo financiero global [Global Financial Cycle (GFC)]. Para su identificación, analizamos la variación del GFC y las intervenciones del Banco Central de Brasil en los mercados derivados de...

Persistent link: https://www.econbiz.de/10012523796

AN ANALYSIS ON MONETARY CONDITION INDEX IN TURKEY BY USING STRUCTURAL VAR ANALYSIS

AÇCI, Yunus; TASAR, Izzet - 2016

The Central Bank of Turkey (TCMB) has a significant power on aggregate demand and inflation expectation via monetary policy tools. While deciding monetary policies it’s a crucial question and a discussion topic for TCMB (Turkish Republic Central Bank) if the policy makers should take into...

Persistent link: https://www.econbiz.de/10011529234

MONETARY POLICY OF ROMANIA: A CRITICAL REVIEW

KUMARAN, R. Malar; NEDELEA, Alexandru Mircea - 2017

The monetary policy is the backbone of economic system. It is equally important instrument of regulating inflation with or without inflation target. Romania has rightfully adopted to price stability despite the fact that European Union and European Commercial Bank preferred price stability. JM...

Persistent link: https://www.econbiz.de/10015336099