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Assessing monetary policy effects using daily fed funds futures contracts

Hamilton, James D. - 2007

Persistent link: https://www.econbiz.de/10003594614

Optimal central bank design : benchmarks for the ECB

Berger, Helge (contributor) - 2006

The paper discusses key elements of optimal central bank design and applies its findings to the Eurosystem. A …

Persistent link: https://www.econbiz.de/10003301388

Finance, labour, capital, and international integration

Bertola, Giuseppe - 2016

Labour incomes depend on structural as well as politico-economic factors, because labour market policies partially remedy the financial market imperfections that make labour income shocks difficult to insure, and have different implications for labour and capital income. This paper illustrates...

Persistent link: https://www.econbiz.de/10011444492

Wedges : distribution, distortions, and market integration

Bertola, Giuseppe - 2017 - First draft March 2017. This draft August 2017

This paper proposes a stylized model of policy determination and imperfect international integration. A country-specific policy wedge corrects labor market imperfections and/or redistributes welfare across differently wealthy agents. Capital market integration with the rest of the world, indexed...

Persistent link: https://www.econbiz.de/10011718418

Too many cooks? Committees in monetary policy

Berger, Helge; Nitsch, Volker - 2008

How many people should decide about monetary policy? In this paper, we take an empirical perspective on this issue, analyzing the relationship between the number of monetary policy decision-makers and monetary policy outcomes. Using a new data set that characterizes Monetary Policy Committees...

Persistent link: https://www.econbiz.de/10010277737

Optimal central bank conservatism and monopoly trade unions

Berger, Helge; Hefeker, Carsten; Schöb, Ronnie - 2001

welfare gain associated with making the central bank less conservative than society, however if the outside option is in real … of central bank conservatism. …

Persistent link: https://www.econbiz.de/10011397779

Restructuring the ECB

Berger, Helge; Haan, Jakob de; Inklaar, Robert - 2003

size and voting power. One way to implement this principle is a rotation scheme for national central bank governors that …

Persistent link: https://www.econbiz.de/10011511101

One country, one vote? : labor market structure and voting rights in the ECB

Berger, Helge; Hefeker, Carsten - 2004

distribution in the European Central Bank (ECB) council. We show that, in a model where labor unions internalize the inflationary …

Persistent link: https://www.econbiz.de/10011402520

How should large and small countries be represented in a currency union?

Berger, Helge (contributor); Mueller, Till (contributor) - 2004

representation in a federal central bank addressing this question. Optimal voting weights reflect two opposing forces: the wish to …

Persistent link: https://www.econbiz.de/10002521678

Does conservatism matter? : a time series approach to central banking

Berger, Helge; Woitek, Ulrich - 1999

The empirical literature on central banking has found measures of central bank independence/conservatism to be …. We find that an increase in central bank conservatism leads to higher short-term interest rates and a more activist … economy, higher output and somewhat lower inflation. We also investigate the interaction between the central bank and the …

Persistent link: https://www.econbiz.de/10009781685