Similar Search Results

Precommitment, Transparency and Monetary Policy

Geraats, Petra Maria - 2001

caused by uncertainty about the economic disturbances to which the central bank responds. Only perfect transparency about … vollkommene Transparenz hinsichtlich der Informationen beseitigt vollständig den Inflationsbias. …

Persistent link: https://www.econbiz.de/10010295710

Comparing Monetary Policy Strategies: Towards a Generalized Reaction Function

Hammermann, Felix - 2003

There seems to be no consensus in the literature with respect to monetary policy strategies in combination with flexible exchange rate regimes. Therefore, this paper determines what the alternative strategies inflation targeting, Taylor rule, monetary conditions index, and managed floating have...

Persistent link: https://www.econbiz.de/10010260430

Monetary policy analysis: An undergraduate toolkit

Chadha, Jagjit S. - 2008

We develop simple diagrams that can be used by undergraduates to understand interest rate setting by policy-makers. We combine an inflation target, Fisher equation, policy reaction function and short and long run aggregate supply analysis to give a depiction of the policy problem. We illustrate...

Persistent link: https://www.econbiz.de/10010277864

Shifts in the inflation target and communication of central bank forecasts

Tesfaselassie, Mewael F. - 2007

In a model with forward-looking expectations, the paper examines communication of central bank forecasts when the inflation target is subject to unobserved changes. It characterizes the effect of disclosure of forecasts on inflation and output stabilization and the choice of an active versus...

Persistent link: https://www.econbiz.de/10010332955

Monetary policy and bank distress: an integrated micro-macro approach

De Graeve, Ferre; Kick, Thomas - 2008

Evidence on the interdependency between monetary policy and the state of the banking system is scarce. We suggest an integrated micro-macro approach with two core virtues. First, we measure the probability of bank distress directly at the bank level. Second, we integrate a microeconomic hazard...

Persistent link: https://www.econbiz.de/10010295940

Monetary and Financial Thinking in Europe: Evidence from Four Decades of SUERF

Abraham, Jean-Paul - 2003

2003 marks the 40th anniversary of the founding of SUERF. To mark this milestone, some time ago the Council of Management commissioned Professor Jean-Paul Abraham to write a commemorative report. His mandate was not to write a history of SUERF itself (that would be too self-indulgent) but to...

Persistent link: https://www.econbiz.de/10011689909

Monetary and macroprudential policy games in a monetary union

Dennis, Richard; Ilbas, Pelin - 2016

We use the two-country model of the euro area developed by Quint and Rabanal (2014) to study policymaking in the European Monetary Union (EMU). In particular, we focus on strategic interactions: 1) between monetary policy and a common macroprudential authority, and; 2) between an EMU-level...

Persistent link: https://www.econbiz.de/10011786059

Monetary and macroprudential policies in an estimated model with financial intermediation

Gelain, Paolo; Ilbas, Pelin - 2014

We estimate the Smets and Wouters (2007) model augmented with the Gertler and Karadi (2011) financial intermediation sector on US data by using real and financial observables. Given the framework of the estimated model, we address the question whether and how standard monetary policy should...

Persistent link: https://www.econbiz.de/10011506778

Testing the monetary policy rule in the US: A reconsideration of the Fed's behaviour

Minford, Patrick; Ou, Zhirong - 2009

We calibrate a standard New Keynesian model with three alternative representations of monetary policy- an optimal timeless rule, a Taylor rule and another with interest rate smoothing- with the aim of testing which if any can match the data according to the method of indirect inference. We find...

Persistent link: https://www.econbiz.de/10010288782

Nicht zu früh bremsen!: Der Einfluss der Geldpolitik auf die langfristige Wirtschaftsentwicklung in Deutschland und den USA

Schettkat, Ronald; Sun, Rongrong - 2009

Neutralität von Geldpolitik wurde diese bei der Suche nach den Ursachen europäischer Arbeitslosigkeit verschont. Tatsächlich … Arbeitsmarktinstitutionen. Wir argumentieren, dass das Zusammenwirken negativer Schocks und einer restriktiven Geldpolitik die wesentliche -wenn … Europa war. Die Bundesbank -Europas 'Zentralbank' vor Etablierung der EZB- hat eine asymmetrische Geldpolitik in dem Sinne …

Persistent link: https://www.econbiz.de/10010291094