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Dancing together at arm’s length? – The interaction of central banks with governments in the G7

Bodea, Cristina; Huemer, Stefan - 2010

Central bank independence is a common feature in advanced economies. Delegation of monetary policy to an independent central bank with a clear mandate for price stability has proven to be successful in keeping a check on inflation and providing a trusted currency. However, it is also a fact that...

Persistent link: https://www.econbiz.de/10011606272

Propping up Europe?

Pisani-Ferry, Jean; Wolff, Guntram B. - 2012

The Bank of England, the Federal Reserve (Fed) and the European Central Bank (ECB) have responded to the crisis with exceptional initiatives resulting in a major increase in their balance sheets. After the ECB's end-2011 launch of three-year bank refinancing (LTRO), there has been speculation...

Persistent link: https://www.econbiz.de/10010293582

The Fed and the ECB - why and how policies differ

Kösters, Wim; Leschke, Martin; Polleit, Thorsten - 2002

Persistent link: https://www.econbiz.de/10010276330

The Federal Reserve System Discussed: A Comparative Analysis

Fase, M.M.G.; Vanthoor, W.F.V. - 2000

In the first half of 2000 the authors of this paper visited the twelve District Reserve Banks in the United States which was followed by a discussion at the Board in Washington. The aim of this visit was to get a deeper insight into the working of the American Federal Reserve System in order to...

Persistent link: https://www.econbiz.de/10011689894

Warum die Volkswirtschaften der Eurozone den USA und Großbritannien seit der Finanzkrise hinterherhinken: Zur Rolle von Unterschieden in der Geld- und Fiskalpolitik

Heimberger, Philipp - 2016

Wirtschaftsräume wird in zwei Dimensionen analysiert; zum einen anhand eines Überblicks zur Geldpolitik der EZB nach dem Ausbruch der … Wachstum und Beschäftigung, was die Eurozonenwirtschaft im Zusammenspiel mit der über weite Strecken zögerlichen Geldpolitik … prozyklische, krisenverstärkende Fiskalpolitik befördert. Die EZB ist mit ihrer seit Anfang 2015 betriebenen Geldpolitik des …

Persistent link: https://www.econbiz.de/10012100198

Central bank cooperation during the great recession

Papadia, Francesco - 2013

During the Great Recession, central banks went well beyond their normal operations and provided liquidity in unlimited amounts, in foreign currency and to foreign banks. Central bank cooperation took the form of a swap network, and amounted to an episode of global monetary policy. However,...

Persistent link: https://www.econbiz.de/10010464518

Die internationale Finanzmarktkrise - Was sind die Ursachen und wirtschaftlichen Folgen der Krise, und was bringen die Rettungsmaßnahmen?

Schlichting, Georg; Pohl, Julia; Zahn, Thomas - 2010

Die internationale Finanzmarktkrise hat sich zu einer Weltwirtschaftskrise ungeahnten Ausmaßes entwickelt. Was im Jahr 2007 in den USA als Subprimekrise begann, weitete sich innerhalb kürzester Zeit zu einer globalen Krise aus, bei der es sich um die bedeutendste Krise seit der letzten...

Persistent link: https://www.econbiz.de/10011304551

Does the crisis experience call for a new paradigm in monetary policy?

Taylor, John B. - 2010

This paper shows that the monetary policy paradigm that was in place before the financial crisis worked very well and that the crisis occurred only after policy makers deviated from that paradigm. The paper also evaluates monetary policy during the financial crisis by dividing the crisis into...

Persistent link: https://www.econbiz.de/10011430849

The Case for Rate Hikes: Did the Fed Prematurely Raise Rates?

Wray, L. Randall - 2004

For a time, the Federal Open Market Committee (FOMC) seemed to have learned from the mistakes of the past. Instead of taking good economic performance as a sign of incipient inflation, Chairman Alan Greenspan kept interest rates relatively low in the late 1990s, even as unemployment plummeted....

Persistent link: https://www.econbiz.de/10010280291

The Fed and the new monetary consensus: The Case for Rate Hikes, Part Two

Wray, L. Randall - 2004

The most charitable interpretation of the Federal Reserve's recent interest rate hikes is that they appear to have been premature. A convincing array of data on payrolls, employment-to-population ratios, and other labor market indicators show that the current recovery has not yet attained the...

Persistent link: https://www.econbiz.de/10010280328