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Exigent and Unusual Circumstances : The Federal Reserve and the U.S. Financial Crisis

Johnson, Christian A. - 2013

The U.S. Federal Reserve has committed hundreds of billions of dollars in unprecedented lending activities and purchases of mortgage-backed securities based upon its authority under the Federal Reserve Act, and particularly upon its interpretation of Section 13(3), a formerly untested and unused...

Persistent link: https://www.econbiz.de/10013094881

Examining the Success of the Central Banks in Inflation Targeting Countries : The Dynamics of Inflation Gap and the Institutional Characteristics

M. Ardakani, Omid - 2016

This paper analyzes the performance of central banks in 27 inflation targeting countries by examining their success in achieving their explicit inflation targets. For this purpose, we decompose the inflation gap, the difference between actual inflation and inflation target, into predictable and...

Persistent link: https://www.econbiz.de/10013005965

The European Central Bank and Why Things are the Way They Are : A Historic Monetary Policy Pivot Point and Moment of (Relative) Clarity

Dubois, Robert - 2012

Not since the Great Depression have monetary policy matters and institutions weighed so heavily in commercial, financial, and political arenas. Apart from the eurozone crisis and global monetary policy issues, for nearly two years all else has counted for little more than noise on a relative...

Persistent link: https://www.econbiz.de/10013109818

The European Central Bank and why things are the way they are : a historic monetary policy pivot point and moment of (relative) clarity

Dubois, Robert - 2012

Persistent link: https://www.econbiz.de/10009503821

Machine Learning at Central Banks

Chakraborty, Chiranjit - 2017

We introduce machine learning in the context of central banking and policy analyses. Our aim is to give an overview broad enough to allow the reader to place machine learning within the wider range of statistical modelling and computational analyses, and provide an idea of its scope and...

Persistent link: https://www.econbiz.de/10012948433

How Low Can Central Banks Go? The Banking Threshold to Negative Interest Rates

Berriel, Tiago - 2019

Abstract Negative interest rates policies (NIRP), usually depicted in economic textbooks as an impossibility due to the prospect of infinite demand for money, are now a reality in several countries due to different reasons. But while the ZLB has been surpassed when it comes to Central Banks, it...

Persistent link: https://www.econbiz.de/10012899581

A look back at 25 years of the ECB SPF

Allayioti, Anastasia; Arioli, Rodolfo; Bates, Colm; … - 2024

economic expectations and forecasts, but also valuable insights on key topical issues and on economic risks and uncertainties … unemployment rate - the track record of the ECB SPF in forecasting has been broadly comparable to that of the Eurosystem. In …) underlying SPF expectations and an analysis and assessment of measures of macroeconomic uncertainty. Technical assumptions are …

Persistent link: https://www.econbiz.de/10015156735

Improving the ECB's policy strategy

Orphanides, Athanasios - 2025

The ECB can fulfil its mandate better and contribute to a stronger Europe by adopting sensible rules instead of relying on discretionary decision-making. A simple rule for the policy rate can promote systematic monetary policy and protect against significant policy errors. Ending the reliance on...

Persistent link: https://www.econbiz.de/10015413857

Central bank digital currency and fiscal policy in a Diamond-Dybvig Model

El Armali, Jafar - In: Journal of government and economics : JGE 12 (2023), pp. 1-3

After introducing digital currency, the central bank emerges as a monopolist bank. It then faces an "impossible trinity". To achieve price stability and financial stability, optimal consumption allocation is sacrificed. In this paper, I show that fiscal policy designed in coordination with the...

Persistent link: https://www.econbiz.de/10014518045

Bad for Euroland, worse for Germany : the ECB's record

Bibow, Jörg (contributor) - 2005

This paper assesses the contribution of the European Central Bank (ECB) to Germany's ongoing economic crisis, a vicious circle of decline in which the country has become stuck since the early 1990s. It is argued that the ECB continues the Bundesbank tradition of asymmetric policymaking: the bank...

Persistent link: https://www.econbiz.de/10003229840