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New paradigms in monetary theory and policy?
Balling, Morten (ed.); Orphanides, Athanasios (ed.) - New Paradigms in Money and Finance? <Veranstaltung> …; … - 2012
On 11-12 May 2011, SUERF and the Belgian Financial Forum, in association with the Brussels Finance Institute and the Centre for European Policy Studies (CEPS) organized the 29th SUERF Colloquium "New Paradigms in Money and Finance?". All the papers in the present SUERF Study are based on...
Persistent link: https://www.econbiz.de/10011711450
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The boundaries of central bank independence : lessons from unconventional times
Orphanides, Athanasios - 2018
too-low inflation. The experience of the Bank of Japan's encounter with the zero lower bound suggests important benefits … Geldpolitik auch beim Einsatz unkonventioneller Maßnahmen erfolgreich ist? Athanasios Orphanides analysiert die Maßnahmen der Bank … of Japan (BoJ) seit den späten 1990er Jahren und zeigt auf, worauf bei der Formulierung geachtet werden sollte. …
Persistent link: https://www.econbiz.de/10011901698
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ECB Monetary Policy and Euro area governance : collateral eligibility criteria for sovereign debt
Orphanides, Athanasios - 2017
Since the beginning of the crisis, euro area governments have experienced greater fiscal stress than governments of advanced economies outside the euro area with weaker fiscal fundamentals. What has been the source of this fragility and how can it be corrected? The cause of the instability in...
Persistent link: https://www.econbiz.de/10011942216
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The ECB's instruments for crises and normal times : considerations for the policy strategy review
Orphanides, Athanasios - 2020 - Last revised: November 2020
The ongoing policy strategy review presents a unique opportunity for the ECB to examine how to best employ its immense power to fulfil its mandate. Two challenges require urgent attention. First, the “lowflation” problem – the outcome of overly tight policies that allowed inflation to...
Persistent link: https://www.econbiz.de/10012502029
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The quest for prosperity without inflation
Orphanides, Athanasios - 1999
In recent years, activist monetary policy rules responding to inflation and the level of economic activity have been advanced as a means of achieving effective output stabilization without inflation. Advocates of such policies suggest that their flexibility may yield substantial stabilization...
Persistent link: https://www.econbiz.de/10011584494
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Economic projections and rules-of-thumb for monetary policy
Orphanides, Athanasios (contributor);  … - 2008
Monetary policy analysts often rely on rules-of-thumb, such as the Taylor rule, to describe historical monetary policy decisions and to compare current policy to historical norms. Analysis along these lines also permits evaluation of episodes where policy may have deviated from a simple rule and...
Persistent link: https://www.econbiz.de/10003750101
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Complexity and monetary policy
Orphanides, Athanasios; Wieland, Volker - 2012
The complexity resulting from intertwined uncertainties regarding model misspecification and mismeasurement of the state of the economy defines the monetary policy landscape. Using the euro area as laboratory this paper explores the design of robust policy guides aiming to maintain stability in...
Persistent link: https://www.econbiz.de/10010392194
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Monetary policy in South Africa, 2007-21
Honohan, Patrick; Orphanides, Athanasios - 2022
This paper reviews South Africa's monetary policy since 2007 and makes recommendations towards improving the inflation-targeting framework currently in place. Following a surge in inflation into double digits in 2007/08, the South African Reserve Bank managed to guide inflation in line with the...
Persistent link: https://www.econbiz.de/10012887936
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Independent Central Banks and the interplay between monetary and fiscal policy
Orphanides, Athanasios - 2017
recent policy record of the Bank of Japan and the ECB suggests that independent central banks have not always managed to …
Persistent link: https://www.econbiz.de/10011942211
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Fear of liftoff : uncertainty, rules and discreation in monetary policy normalization
Orphanides, Athanasios - 2015
The Federal Reserve's muddled mandate to attain simultaneously the incompatible goals of maximum employment and price stability invites short-term-oriented discretionary policymaking inconsistent with the systematic approach needed for monetary policy to contribute best to the economy over time....
Persistent link: https://www.econbiz.de/10011327424