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Future of the Economic and Monetary Union

Gortsos, Christos V. - 2022

Union (including the new (2021) monetary policy strategy of the Eurosystem and its implementation amidst the ‘inflation …

Persistent link: https://www.econbiz.de/10014077291

The Social Fabric Matrix Approach to Central Bank Operations- An Application to the Federal Reserve and the Recent Financial Crisis

Fullwiler, Scott - 2015

This chapter utilizes the social fabric matrix approach (SFM-A) to provide a detailed description of the Federal Reserve's (Fed's) daily operations and the recent financial crisis. The SFM of the Fed's operations presents the primary components- major norms, institutions, technologies- relevant...

Persistent link: https://www.econbiz.de/10013037851

Verdict on the Crash : Causes and Policy Implications

Booth, Philip - 2009

This monograph challenges the myth that the recent banking crisis was caused by insufficient statutory regulation of financial markets. Though it finds that statutory regulation failed, and that market participants took more risks than they should have done, it appears that statutory regulation...

Persistent link: https://www.econbiz.de/10013156184

Financial Stability, Monetary Policy, Banking Supervision, and Central Banking

Hellwig, Martin - 2014

The paper gives an overview over issues concerning the role of financial stability in monetary policy and the relation between banking supervision and central banking. Following a brief account of developments in the European Monetary Union since its creation, the systematic treatment contains...

Persistent link: https://www.econbiz.de/10013049671

Monetary Policy Responses to the Crisis and Exit Strategies

Minegishi, Makoto - 2010

preserve the hard-won anchoring of inflation expectations and dissipate any hypothetical fears that central banks? greater risk …

Persistent link: https://www.econbiz.de/10012444285

The Low Inflation 'Puzzle' and Financial Crises

Carr, Douglas - 2019

Low and unresponsive inflation has been termed a “puzzle.” The paper describes a formula for which these conditions … variability of forward long-term inflation. Its U.S. inflation forecasts are comparable to recognized leaders in accuracy with … potential applicability to international economies as well.Inflation Elasticity, the responsiveness of inflation to monetary …

Persistent link: https://www.econbiz.de/10012858878

Contemporary Inflation Surprises and Financial Stability

Carr, Douglas - 2022

Two extraordinary inflation surprises of the last generation were the longstanding inflation shortfall from central … bank targets and now the pandemic inflationary.Inflation shortfalls can be attributed to characteristics of monetary … inflation. Compounding this problem is a base level of inflation from non-monetary causes, population growth and the natural …

Persistent link: https://www.econbiz.de/10013404759

CBDC and the banking system

Auer, Simone; Branzoli, Nicola; Ferrero, Giuseppe; … - In: Jahrbücher für Nationalökonomie und Statistik 245 (2025) 4/5, pp. 435-478

This paper examines the potential impact a central bank digital currency (CBDC) on banks' balance sheets. We first analyze the possible implications of the introduction of a CBDC for the banking system and the economy as a whole. Our analysis indicates that the impact of a CBDC depends on a...

Persistent link: https://www.econbiz.de/10015432058

Excess Reserves, Unconventional Monetary Policy and the Consequences for Fiscal Stimulus Packages

Terveer, Pascal - 2014

Employing huge economic stimulus packages was a common response of many policy leaders during the past financial crisis. In Germany for instance, the government enacted two fiscal packages with an overall volume of approximately 80 billion Euros. On the other hand, the distortions in the banking...

Persistent link: https://www.econbiz.de/10013053647

The European Central Bank and the US Federal Reserve as Lender of Last Resort

Herr, Hansjörg - In: Panoeconomicus 61 (2014) 1, pp. 59-78

Without a lender of last resort financial stability is not possible and systemic financial crises get out of control. During and after the Great Reces-sion the US Federal Reserve System (Fed) and the European Central Bank (ECB) took on the role of lender of last resort in a comprehensive way....

Persistent link: https://www.econbiz.de/10011134496