Search Results - subject_exact:"Notenbank"

Central bank digital currency as a new means of payment : an experimental approach

Magin, Jana; Neyer, Ulrike; Stevens, Alexandra - 2026

Many Central banks around the world are considering the introduction of a Central Bank Digital Currency (CBDC) as a new means of payment. One of the reasons for introducing a CBDC is a change in payment behavior towards an increasing use of electronic forms of payment. This paper examines the...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015618518

Facts or feelings? : the role of relatable narratives in shaping inflation expectations

Ludolph, Melina; Giang Hong Nghiem; Tonzer, Lena - 2026

We examine whether combining factual information on inflation levels and forecasts with a narrative can persistently shape consumers' inflation expectations. In a preregistered randomized controlled trial with a representative sample of 3,000 German consumers, participants received either...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015654676

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Facts or feelings? : the role of relatable narratives in shaping inflation expectations

Ludolph, Melina; Giang Hong Nghiem; Tonzer, Lena - 2026

Book / Working Paper

Sustainable digital finance in central banking

Park, Ki Young; Ha, Hyuk Jin; Ryu, Jaemin - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015549149

Innovations and the layering of money and payments

Bindseil, Ulrich - 2026

This paper analyses the role of layering in the architecture of money and payment systems and how recent technological innovations affect it. Layering in payments, whereby payment ledgers are hierarchical to each other, and senior ledgers allow for interoperability between junior ledgers, has...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015618783

An in-depth assessment of the Central Bank of Malta's projections

Saliba, Maria Christine - 2026

This paper presents an in-depth analysis of the performance of the macroeconomic projections produced by Central Bank of Malta (CBM) staff. A real-time macroeconomic database published by the CBM is utilized, allowing for the computation of forecast errors based on the first official data...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015655280

To tokenize, or not to tokenize : the design question for a central bank digital currency

Chiu, Jonathan; Monnet, Cyril; Xu, Oliver Junye - 2026 - Last updated: May 7, 2026

This paper develops a general equilibrium model to assess central bank digital currency (CBDC) design in a monetary system where traditional banks and "crypto banks" (i.e., banks that issue stablecoins) coexist. We compare tokenized and non-tokenized CBDC, showing that their desirability depends...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015655361

Balancing volatility and returns in the Czech National Bank's foreign exchange portfolio

Adam, Tomáš; Michl, Aleš; Škoda, Michal - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015609222

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Balancing volatility and returns in the Czech National Bank's foreign exchange portfolio

Adam, Tomáš; Michl, Aleš; Škoda, Michal - 2023

Book / Working Paper

Balancing volatility and returns in the Czech National Bank's foreign exchange portfolio

Adam, Tomáš; Michl, Aleš; Škoda, Michal - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015609222

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Balancing volatility and returns in the Czech National Bank's foreign exchange portfolio

Adam, Tomáš; Michl, Aleš; Škoda, Michal - 2023

Book / Working Paper

Populistic surfing : consensus, monetary and banking policies

Favaretto, Federico; Masciandaro, Donato - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015609534

From cash to crypto: towards a consistent regulatory approach to illicit payments

Minto, Andrea; Kosse, Anneke; Shirakami, Takeshi; … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015609560

Social media as a monetary policy tool? : evidence from a survey experiment

Simpartl, Josef - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015610402

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Social media as a monetary policy tool? : evidence from a survey experiment

Simpartl, Josef - 2025

Book / Working Paper

Social media as a monetary policy tool? : evidence from a survey experiment

Simpartl, Josef - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015610402

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Social media as a monetary policy tool? : evidence from a survey experiment

Simpartl, Josef - 2025

Book / Working Paper

Effect of a funding-for- lending program : evidence from the Bank of Japan's COVID-19 operation

Gunji, Hiroshi; Ono, Arito; Shizume, Masato; Uchida, … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015611083

The effect of increased transparency on an individualistic monetary policy committee

Apel, Mikael; Blix Grimaldi, Marianna; Ahrenberg, Lars; … - 2026

Most empirical research on the effects of transparency on monetary policy committees is based on a natural experiment in 1993 at the Federal Reserve, when it was decided that transcripts of meetings would be released with a five-year lag. Evidence is found of both a conformity effect (reluctance...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015612448

Republic of Kazakhstan : Enhancing Monetary Analysis and Forecasting Capacity of the National Bank of Kazakhstan

Fukac, Martin - 2026

In August 2024, the IMF's CCAMTAC conducted a scoping mission at the request of the National Bank of Kazakhstan to enhance the forecasting capabilities of the Monetary Analysis Division. The mission evaluated the Division's current resources, tools, and data management practices, identifying...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015612589

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Republic of Kazakhstan : Enhancing Monetary Analysis and Forecasting Capacity of the National Bank of Kazakhstan

Fukac, Martin - 2025

Book / Working Paper

Republic of Kazakhstan : Enhancing Monetary Analysis and Forecasting Capacity of the National Bank of Kazakhstan

Fukac, Martin - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015612589

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Republic of Kazakhstan : Enhancing Monetary Analysis and Forecasting Capacity of the National Bank of Kazakhstan

Fukac, Martin - 2025

Book / Working Paper

Ukraine : Technical Assistance Report-Strengthening Macroeconomic Modeling in Support of Forecasting and Policy Analysis System (FPAS) at the National Bank of Ukraine (NBU)

2026

This Technical Assistance followed a request by the National Bank of Ukraine for a review of their existing Quarterly Projection Model (QPM) and Forecasting and Policy Analysis System (FPAS). Although the NBU had an established FPAS, which benefited from previous IMF TA, the existing model-based...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015612632

Rules vs. discretion and the role of the central bank

El-Shagi, Makram; Gerth, Florian; Philemon, Paul Lukuliko - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015613464

The expert assessment within Banca d'Italia's in-house credit assessment system

Esposito, Lorenzo; Guglielmi, Massimo; Monterisi, Francesco - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015613766

A public-private partnership? : central bank funding and credit supply

Chavaz, Matthieu; Elliott, David; Monroe, Win - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015613835

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A public-private partnership? : central bank funding and credit supply

Chavaz, Matthieu; Elliott, David; Monroe, Win - 2025

Book / Working Paper

A public-private partnership? : central bank funding and credit supply

Chavaz, Matthieu; Elliott, David; Monroe, Win - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015613835

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A public-private partnership? : central bank funding and credit supply

Chavaz, Matthieu; Elliott, David; Monroe, Win - 2025

Book / Working Paper

Monetary policy committees, independence, and influence

Colla de Robertis, Esteban - 2026

We develop a model of monetary policy committee decision-making, building on the framework of games played through agents (GPTA). Interest groups seek to influence policy by offering action-contingent contracts to committee members. The resulting equilibrium admits a simple characterization and...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015615291

Central bank digital currency and Gresham's law : an experimental analysis

Baeriswyl, Romain; Boun My, Kene; Cornand, Camille - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015615535

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Central bank digital currency and Gresham's law : an experimental analysis

Baeriswyl, Romain; Boun My, Kene; Cornand, Camille - 2025

Book / Working Paper

Central bank digital currency and Gresham's law : an experimental analysis

Baeriswyl, Romain; Boun My, Kene; Cornand, Camille - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015615535

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Central bank digital currency and Gresham's law : an experimental analysis

Baeriswyl, Romain; Boun My, Kene; Cornand, Camille - 2025

Book / Working Paper

Inflation expectations and a conservative central banker : evidence from a natural experiment

Grebe, Moritz; Tillmann, Peter - 2026

This paper studies the response of inflation expectations to an exogenous shift in central bank preferences. We use the unexpected announcement of the resignation of Jens Weidmann, the president of the Deutsche Bundesbank, in 2021 as a natural experiment constituting a rare case of an exogenous...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015615749

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Inflation expectations and a conservative central banker : evidence from a natural experiment

Grebe, Moritz; Tillmann, Peter - 2025

Book / Working Paper

The spillovers of LSAPs on banks in the euro area

Graziano, Marco; Koechlin, Marius; Tischbirek, Andreas - 2026

We study the spillovers of large-scale asset purchases (LSAPs) in the U.S. on financial intermediation in the euro area using bank-level supervisory data and high-frequency identified policy surprises. Our detailed panel data permit us to trace the impact of LSAPs through bank balance sheets. We...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015592007

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The spillovers of LSAPs on banks in the euro area

Graziano, Marco; Koechlin, Marius; Tischbirek, Andreas - 2026

Book / Working Paper

Personal financial planning and the propensity of central bank digital currency adoption

El Kalak, Izidin; Nourallah, Mustafa; Timmerman, Inga - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015592810

The spillovers of LSAPs on banks in the euro area

Graziano, Marco; Koechlin, Marius; Tischbirek, Andreas - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015605573

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The spillovers of LSAPs on banks in the euro area

Graziano, Marco; Koechlin, Marius; Tischbirek, Andreas - 2026

Book / Working Paper

MTBE V2025 : new version of the quarterly model of the Banco deEespaña

Aguilar, Pablo; Ghirelli, Corinna; Hurtado, Samuel - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015589746

Central bank digital currency, flight-to-quality, and bank-runs in an agent-based model

Barucci, Emilio; Gurgone, Andrea; Iori, Giulia; Azzone, … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015591185

Lender of Last Resort and financial systemic risks in times of economic stability : evidence from 55 countries

Miao, Wenlong; Ma, Yuxian; Huo, Yuanyuan - 2026

As a cornerstone of the modern financial safety net, the Lender of Last Resort (LOLR) is essential in mitigating liquidity crises and containing financial contagion. However, during periods of economic stability, risk-taking incentives in the banking sector may undermine its effectiveness. Using...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015591371

Every signal counts : effects of ECB presidents' textual and voice sentiments on financial markets

Jurkšas, Linas; Kaminskas, Rokas; Akstinaitė, Vita - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015605059

ECB Council members' objectives and public debt at home : evidence from an AI-based textual analysis

Heinemann, Friedrich; Kemper, Jan - 2026

We examine the changing attention that ECB Governing Council members pay to different policy objectives by analysing more than 4,600 speeches given between the establishment of the ECB and the summer of 2024. Alongside the primary objective of price stability, we consider the following potential...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015607686

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ECB council members' objectives and public debt at home : evidence from an AI-based textual analysis

Heinemann, Friedrich; Kemper, Jan - 2026

Book / Working Paper

ECB council members' objectives and public debt at home : evidence from an AI-based textual analysis

Heinemann, Friedrich; Kemper, Jan - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015606329

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ECB Council members' objectives and public debt at home : evidence from an AI-based textual analysis

Heinemann, Friedrich; Kemper, Jan - 2026

Book / Working Paper

Public discourse on retail payments and the case of CBDC

Bindseil, Ulrich - 2026

The retail payment industry is significant, affects every citizen and is a very precondition for a modern society based on the division of labor. It is characterized by two-sidedness, strong network effects, high fixed costs, high concentration and high profitability of successful firms,...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015624553

Who's in? : household-targeted government policies and the role of financial literacy in market participation

Filippin, Maria Elena - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015625014

The life experience of central bankers and monetary policy decisions: a cross-country dataset

Madeira, Carlos - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015625232

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The life experience of central bankers and monetary policy decisions : a cross-country dataset

Madeira, Carlos - 2025

Book / Working Paper

Do actions match words? reassessing the Taylor rule in an emerging-market context

Garga, Vaishali; Gryzb, Benjamin; Sengupta, Rajeswari - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015625542

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Do actions match words? : reassessing the Taylor rule in an emerging-market context

Garga, Vaishali; Sengupta, Rajeswari - 2026 - This version: July 2026

Edition: This version: July 2026

Book / Working Paper

Monetary policy in india : the long road to inflation targeting

Sengupta, Rajeswari - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015625560

Central Bank independence, transparency, and interaction with fiscal policy : the case of a small open economy

Trabelsi, Emna - 2026

This study examines the determinants of inflation volatility in Tunisia, focusing on central bank independence (CBI), economic transparency, and macroeconomic fundamentals. Although CBI is widely regarded as essential for monetary credibility, its effectiveness depends on its institutional...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015626050

Monetary anchors in a digital age : a historical perspective on the ECB's digital euro and US stablecoins

Greitens, Jan - 2026

This paper contributes to current debates surrounding the digital euro and US stablecoins by unpacking the present day relevance of two important episodes in monetary history: Prussia's effort in the 18th century to implement a uniform coinage standard across the Holy Roman Empire, and the 19th...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015626439

Heaven or earth? : the evolving role of global shocks for domestic monetary policy

Forbes, Kristin; Ha, Jongrim; Kose, M. Ayhan - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015626685

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Heaven or earth? : the evolving role of global shocks for domestic monetary policy

Forbes, Kristin; Ha, Jongrim; Kose, M. Ayhan - 2026

Book / Working Paper

Payment needs and the size of the Federal Reserve's balance sheet

Reis, Ricardo - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015626901

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Payment needs and the size of the federal reserve's balance sheet

Reis, Ricardo - 2026

Book / Working Paper

Heaven or earth? : the evolving role of global shocks for domestic monetary policy

Forbes, Kristin; Ha, Jongrim; Kose, M. Ayhan - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015619058

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Heaven or earth? : the evolving role of global shocks for domestic monetary policy

Forbes, Kristin; Ha, Jongrim; Kose, M. Ayhan - 2026

Book / Working Paper

Central bank communication on financial stability : a shadowed sibling? : the tale of Central Europe

Martin, Reiner; Mohácsi, Piroska Nagy; Evdokimova, Tatiana - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015627248

Monetary policy and central banking : challenges in the current environment : editorial

Evans, Anthony J. - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015628616

The architecture of central bank transparency : accounting information and financial stability as structural pillars of Monetary Policy Transparency

Bhiri, Sana; BenMabrouk, Houda - 2026

This article offers a structural reappraisal of central bank Monetary Policy Transparency (MPT) by explicitly incorporating two dimensions that have long remained peripheral in the literature: Accounting Information Transparency (AIT) and Financial Stability Transparency (FST). Building on a...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015628630

Extraordinary forward guidance in Canada during the pandemic

Sutherland, Christopher - 2026 - Last updated: January 19, 2026

We consider two trade-offs inherent to extraordinary forward guidance (EFG): potency versus flexibility, and the credibility of forward guidance versus the credibility of inflation targeting.We argue that the form of EFG used by the Bank of Canada during the COVID‑19 pandemic balanced both...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015637561

At cross-purposes : how prudential and monetary rate policies create asymmetric frictions in the banking sector

Widiyanti, Shandra; Siregar, Hermanto; Ratnawati, Anny; … - 2026

Indonesia's financial system is bank-centric, with banks managing approximately 78% of the nation's financial assets; therefore, the effectiveness of monetary policy transmission depends on banks' responsiveness to the central bank's interest rate policy (the BI Rate). However, a policy-relevant...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015639037

Move fast and break everything : crypto, democrats and deregulation

Ferguson, Thomas; Chen, Jie; Lalisse, Matthias; … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015639801