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Negative interest rates, COVID-19, and the finances of listed euro firms

Eije, Johan H. von - In: Central European review of economics and management : CEREM 5 (2021) 4, pp. 117-143

Aim: The paper measures the impact of negative interest rates on listed firms in the original euro zone countries. It also measures the impact of the first COVID-19 year. Design / research methods: The paper uses panel data to measure the influence of the short-term ECB deposit rate and the...

Persistent link: https://www.econbiz.de/10013202353

The Central Bank as a Risk Manager : Quantifying and Forecasting Inflation Risks

Kilian, Lutz; Manganelli, Simone - 2021

We propose to regard the central banker as a risk manager who aims to contain inflation within pre-specified bounds. We …

Persistent link: https://www.econbiz.de/10013319941

Managing households' expectations with unconventional policies

D'Acunto, Francesco; Hoang, Daniel; Weber, Michael - 2021

Binding lower bounds on interest rates and large government deficits limit the scope of fiscal and monetary policies to stimulate households' spending through financial intermediaries and firms. Policymakers have thus been implementing unconventional policies that aim to increase households'...

Persistent link: https://www.econbiz.de/10012490917

Inflation expectations and the recovery from the Great Depression in Germany

Daniel, Volker; Ter Steege, Lucas - 2018

A regime shift towards increased inflation expectations is credited with jumpstarting the recovery from the Great … Depression in the United States. Germany experienced a recovery as fast and strong in the 1930s. What role did inflation … expectations play at the start of this remarkable economic upturn? To answer this question, we study inflation expectations in …

Persistent link: https://www.econbiz.de/10012159651

Measuring Monetary Policy in Open Economies

Favero, Carlo A.; Bagliano, Fabio C.; Franco, Francesco - 1999

The empirical VAR literature on the monetary transmission mechanism in closed economies has been successful in providing evidence with which theoretical models of the monetary transmission mechanism are now confronted. The empirical VAR literature on the monetary transmission mechanism in open...

Persistent link: https://www.econbiz.de/10014218956

Evaluating Monetary Policy Rules in Estimated Forward-Looking Models : A Comparison of US and German Monetary Policies

Jondeau, Eric - 2010

more persistent and slightly stronger response to inflation and output than the US optimal policy …

Persistent link: https://www.econbiz.de/10013134840

Monetary Policy Analysis Based on Lasso-Assisted Vector Autoregression (Lavar)

Li, Jiahan - 2012

Measuring the quantitative effects of monetary policy on the economy has been playing a central role in promoting economic growth and stability. However, in the presence of numerous macroeconomic variables, traditional vector autoregression (VAR) could only accommodate a few data series, and...

Persistent link: https://www.econbiz.de/10013109610

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 …, inflation is lower. As a result of lower price growth, the need for a monetary policy response to an interest rate is also lower …

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

Central bank policies and the debt trap

Orphanides, Athanasios; Ke, T. Tony - 2017

Monetary policy and fiscal dynamics are inexorably linked. When a government faces the risk of getting caught in a high debt trap, debt monetization may become an appealing option. However, independent central banks may be able to allay debt concerns without compromising price stability. One...

Persistent link: https://www.econbiz.de/10011749492

Inflation Targeting : Lessons from Four Countries

Posen, Adam Simon - 2009

numerical inflation targets. This study examines the experience of the first three countries to adopt an inflation … scheme that incorporated many elements of inflation targeting even earlier. The authors find that the countries adopting a … numerical inflation target have successfully maintained low inflation rates. Other benefits of inflation targeting include …

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