Similar Search Results

Orphanides, Athanasios; Wieland, Volker - 2012

The complexity resulting from intertwined uncertainties regarding model misspecification and mismeasurement of the … of robust policy guides aiming to maintain stability in the economy while recognizing this complexity. We document … simple interest rate rule is employed to interpret ECB policy since 1999. An evaluation of alternative policy rules across 11 …

Persistent link: https://www.econbiz.de/10010392194

Monetary policy between stability and growth

Fabris, Nikola - In: Journal of central banking theory and practice 13 (2024) 1, pp. 27-42

turnaround in monetary policy pursuits and a rapid rise in reference interest rates. The FED reacted much faster than the ECB and …

Persistent link: https://www.econbiz.de/10014496247

Nonconventional Monetary Policy in a Regime-Switching Model with Endogenous Financial Crises

Barreto, Leonardo - 2018

This paper develops a regime-switching newkeynesian model for a small open economy, with an occasionally binding financial friction that allows for endogenous financial crises. The model has two regimes: a regime for normal economic times, in which financial market access is unconstrained, and a...

Persistent link: https://www.econbiz.de/10012914555

Has the Global Financial Crisis Shaken the New Monetary Consensus? - A Synthetic View

Pilkington, Marc - 2012

The 2007-2010 Global Financial Crisis has reshuffled the cards for central bankers throughout the world. In the wake of the biggest crisis since the Great Depression, we examine the evolution of modern central banking since the inflationary chaos of the 1970s and the controversial monetarist...

Persistent link: https://www.econbiz.de/10013115864

Asset Price Bubbles and Central Bank Policies : The Crash of the 'Jackson Hole Consensus'

Malliaris, A. (Tassos) G. - 2011

This paper reexamines the main arguments of whether or not monetary policy should respond to asset bubbles. The question of how the central bank should respond to an asset bubble can be reformulated in two ways. First, how does the central bank respond while an asset bubble is growing, and...

Persistent link: https://www.econbiz.de/10013119617

The Evolving Nature of Asset Price Bubbles, Financial Instability and Monetary Policy

Malliaris, A. (Tassos) G. - 2019

This paper links the bursting of the housing asset price bubble around 2007 in the U.S. to the instability that arose in financial markets with the bankruptcy of Lehman Brothers in September 2008, and both of these to the Great Recession and the unconventional monetary policy that followed....

Persistent link: https://www.econbiz.de/10012897514

Asset Prices and the Financial Crisis of 2007-09 : An Overview of Theories and Policies

Malliaris, A. (Tassos) G. - 2011

The financial crisis of 2007-09 has led to a rethinking of the role of monetary and financial regulatory policy. It has also called into question the benefits of financial innovation and monetary policy that focuses solely on inflation and the output gap. This paper discusses financial...

Persistent link: https://www.econbiz.de/10013131099

Superstar central bankers : conference paper

Neuenkirch, Matthias; Tillmann, Peter - 2014

The personalities of central bankers moved center stage during the recent financial crisis. Some central bankers even gained "superstar" status. In this paper, we evaluate the pivotal role of superstar central bankers by assessing the difference an outstanding governor makes to economic...

Persistent link: https://www.econbiz.de/10010487271

Independence, conservatism and beyond : Central Bank design and central banker preferences in monetary policy economics (1981-2019)

Masciandaro, Donato - 2020

Using a political economy approach, this paper sheds light on how two factors – central bankers' preferences and the central bank's design – progressively assumed a crucial role in the evolution of monetary policy economics in the last four decades. The two factors jointly identify the...

Persistent link: https://www.econbiz.de/10012210741

Monetary policy disconnect

Ballensiefen, Benedikt; Ranaldo, Angelo; Winterberg, Hannah - 2020 - This version: December 11, 2020

Although designed to support monetary policy, two crucial aspects of the central bank framework can disconnect the monetary policy transmission: banks' access to central bank deposits and Quantitative Easing (QE). We show how both hinder the monetary policy transmission through the main...

Persistent link: https://www.econbiz.de/10012387237