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10 countries from Central and Eastern Europe (CEEC) that will join the EU 2004/7 the banking system is now dominated by …
Persistent link: https://www.econbiz.de/10001807083
The belief that the ECB follows the US Federal Reserve in setting its policy is so entrenched with market participants and commentators that the search for empirical support would seem to be a trivial task. However, this is not the case. We find that the ECB is indeed often influenced by the...
Persistent link: https://www.econbiz.de/10002749782
This paper studies the international coordination of monetary policies in the world economy. It carefully discusses the process of policy competition and the structure of policy cooperation. As to policy competition, the focus is on monetary competition between Europe and America. Similarly, as...
Persistent link: https://www.econbiz.de/10002846541
This paper studies the international coordination of monetary policies in the world economy. It carefully discusses the process of policy competition and the structure of policy cooperation. As to policy competition, the focus is on monetary competition between Europe and America. Similarly, as...
Persistent link: https://www.econbiz.de/10002932603
Persistent link: https://www.econbiz.de/10013465982
Persistent link: https://www.econbiz.de/10014364822
Persistent link: https://www.econbiz.de/10015204069
The ECB has been arguing in the past that since there is no trade-off between price stability and financial stability, the pursuit of price stability is the best a central bank can do to also maintain financial stability. We argue that there is a potential trade-off between price stability and...
Persistent link: https://www.econbiz.de/10003888991
This paper outlines important lessons for monetary policy. In particular, the role of inflation targeting, which was much acclaimed prior to the financial crisis and since then has not lost much of its endorsement, is critically reviewed. Ignoring the relation between monetary policy and asset...
Persistent link: https://www.econbiz.de/10009127161
Persistent link: https://www.econbiz.de/10009486309