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Optimal conservatism and collective monetary policymaking under uncertainty

Hefeker, Carsten; Zimmer, Blandine - 2014

We study how the optimal degree of conservatism relates to decision-making procedures in a Monetary Policy Committee (MPC). In our framework, central bank conservatism is required to attenuate the volatility of monetary decisions generated by the presence of uncertainty about the committee...

Persistent link: https://www.econbiz.de/10010391838

Liquidity regulation, the Central Bank, and the money market : conference paper

Scheubel, Beatrice; Körding, Julia - 2013 - This version: 15 February 2013

crisis, recent advances in global liquidity regulation try to curb the excessive reliance on short-term wholesale funding … regulation may interfere with the central bank's influence on short-term money market rates. This paper tries to fill the gap in … asymmetric information. Regulation can be welfare-improving in the presence of an externality and also in case of collateral …

Persistent link: https://www.econbiz.de/10010342820

Utility Price Regulation and Time Inconsistency : Comparisons with Monetary Policy

Levine, Paul - 2010

We examine the hold-up problem of price regulation and compare it with the monetary policy credibility problem. For …-up problem in regulation turns out to be more serious than the inflation bias problem in monetary policy. Even with far …

Persistent link: https://www.econbiz.de/10012760882

Banking behaviour and political business cycle in Africa : the role of independent regulatory policies of the central bank

Ofori-Sasu, Daniel; Agbloyor, Elikplimi Komla; Nsafoah, … - 2024

This study examines the effect of regulatory independence of the central bank in shaping the impact of electoral cycles on bank lending behaviour in Africa. It employs the dynamic system Generalized Method of Moments (SGMM) Two-Step estimator for a panel dataset of 54 African countries over the...

Persistent link: https://www.econbiz.de/10014514254

Crisis concept of the Central Bank functions optimization

Krstić, Borko; Jemović, Mirjana - In: Facta Universitatis / Series economics and organization … 7 (2010) 3, pp. 279-290

Persistent link: https://www.econbiz.de/10009375291

In defense of central bank independence against its enthusiasts

González-Páramo, José Manuel - In: Hacienda pública española : review of public economics 250 (2024) 3, pp. 109-128

Persistent link: https://www.econbiz.de/10015405921

Electoral cycles in macroprudential regulation

Müller, Karsten - 2019

Do politics matter for macroprudential policy? I show that changes to macroprudential regulation exhibit a predictable …

Persistent link: https://www.econbiz.de/10012135983

Declining Output Volatility in Germany: Impulses, Propagation, and the Role of Monetary Policy

Fritsche, Ulrich; Kuzin, Vladimir - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2004

This paper investigates the effect of economic integration on the ability of firms to maintain a collusive understanding about staying out of each other's markets. The paper distinguishes among different types of trade costs: ad valorem, unit, fixed. It is shown that for a sufficient reduction...

Persistent link: https://www.econbiz.de/10005068976

Private and Central Bank Digital Currencies : An Uprising of New Retail Payment Systems?

Schlotmann, Olaf; Walter, Arne - 2021

balance sheet analysis and the theory of contestable markets, that most of these concerns are exaggerated. Contrary to what …

Persistent link: https://www.econbiz.de/10013211153

Independent Utility Regulators : Lessons from Monetary Policy

Stern, Jon; Levine, Paul; Trillas, Francesc - 2015

This paper explores the similarity of the underlying economic problems that lead to the establishment of (a) independent central banks to operate national monetary policies and (b) independent regulatory agencies for telecommunications and other utility service industries. We show that, in both...

Persistent link: https://www.econbiz.de/10014091599