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Orphanides, Athanasios; Wieland, Volker - C.E.P.R. Discussion Papers - 2012

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

Complexity and monetary policy

Orphanides, Athanasios; Wieland, Volker - House of Finance, Goethe Universität Frankfurt am Main - 2012

Persistent link: https://www.econbiz.de/10010955285

Complexity and monetary policy

Orphanides, Athanasios; Wieland, Volker - Center for Financial Studies - 2012

Persistent link: https://www.econbiz.de/10010958780

Monetary Policy Lessons from the Crisis

Orphanides, Athanasios - Central Bank of Cyprus - 2010

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/10008587614

Monetary Policy Lessons from the Crisis

Orphanides, Athanasios - C.E.P.R. Discussion Papers - 2010

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

Monetary Policy Responses to the Crisis and Exit Strategies

Minegishi, Makoto; Cournède, Boris - Economics Department, Organisation de Coopération et … - 2010

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

Greenspan’s Legacy and Bernanke’s attitude to the Financial Crisis

Ryan, John; Koronowski, Adam - Dipartimento di Economia, Università Ca' Foscari Venezia - 2009

The Federal Reserve System or the Fed is one of the most prestigious institutions in the world. Founded by the Federal Reserve Act in 1913, the Fed has the responsibility of setting the monetary policy of the U.S. The Fed’s actions affect the money supply in the U.S. market which has a direct...

Persistent link: https://www.econbiz.de/10008490708

Monetary policy and banking supervision: still at arm's length? A comparative analysis

Masciandaro, Donato - In: European Journal of Comparative Economics 9 (2012) 3, pp. 349-366

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

Does Model Uncertainty Lead to Less Central Bank Transparency?

Qin, Li; Spyromitros, Elefterios; Sidiropoulos, Moïse - Bureau d'Économie Théorique et Appliquée (BETA), … - 2006

This paper discusses the problem of monetary policy transparency in a simple static robust control framework. In this framework, we identify two sources of monetary policy uncertainty. First, we identify the uncertainty about the central bank’s inflation stabilization preferences, which...

Persistent link: https://www.econbiz.de/10005422887

Robust central banking under wage bargaining: Is monetary policy transparency beneficial?

Sánchez, Marcelo - In: Economic Modelling 28 (2011) 1, pp. 432-438

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