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Did the Bundesbank Target Monetary Expansion or Inflation? Evidence from Monetary Base Growth

Vaubel, Roland - 2012

Several empirical studies have suggested that the Bundesbank has pursued inflation targets rather than monetary targets. These studies have been criticized because they do not adequately measure the deviation from target and because they use some short term interest rate as a measure of the...

Persistent link: https://www.econbiz.de/10013111019

The Politics of Central Bank Independence

Haan, Jakob de; Eijffinger, Sylvester C. W. - 2016

This paper reviews recent research on the political economy of monetary policy-making, both by economists and political scientists. The traditional argument for central bank independence (CBI) is based on the desire to counter inflationary biases. However, studies in political science on the...

Persistent link: https://www.econbiz.de/10014123735

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/10003836155

Monetary policy and European unemployment

Schettkat, Ronald; Sun, Rongrong - 2008

In the long history of rising and persistent unemployment in Europe almost all institutions – employment protection legislation, unions, wages, wage structure, unemployment insurance, etc. – have been alleged and found guilty to have caused this tragic development at some point in time....

Persistent link: https://www.econbiz.de/10003836935

Monetary Policy and Bank Distress : An Integrated Micro-Macro Approach

De Graeve, Ferre - 2016

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/10012989280

The Politics of Central Bank Independence

Haan, Jakob de - 2016

Persistent link: https://www.econbiz.de/10012977008

Inflation Targeting : Lessons from Four Countries

Posen, Adam Simon - 2009

In recent years, a number of central banks have chosen to orient their monetary policy toward the achievement of numerical inflation targets. This study examines the experience of the first three countries to adopt an inflation-targeting strategy - New Zealand, Canada, and the United Kingdom. It...

Persistent link: https://www.econbiz.de/10012766980

German Monetary Targeting : A Precursor to Inflation Targeting

Mishkin, Frederic S. - 2011

Persistent link: https://www.econbiz.de/10012756794

Threshold effects in the monetary policy reaction function of the Deutsche Bundesbank

Mandler, Martin - 2011

We estimate monetary policy reaction functions with threshold effects for the Deutsche Bundesbank using a real-time data set. Estimates based on the deviation of inflation from the Bundesbank's inflation target as threshold variable suggest a switch to a stronger output gap response in the...

Persistent link: https://www.econbiz.de/10009236002

Central bank intervention in the inflation targeting

Krušković, Borivoje D. - In: Journal of central banking theory and practice 11 (2022) 1, pp. 67-85

This paper analyses the impact of central bank interven-tions in the inflation targeting regime. The results of empirical stud-ies in this paper show if there is a shock of the exchange rate, which would lead to depreciation of the exchange rate, a central bank may decide to mush instability on...

Persistent link: https://www.econbiz.de/10012805926