Narrow search
Showing 1 - 10 of 409
Cover Image
The Roles of Monetary Policy in the Process of Economic Reform in Eastern Europe
Bofinger, Peter - C.E.P.R. Discussion Papers - 1990
The first part of the paper analyzes the inflationary risks associated with price liberalization, the welfare costs of inflation and the difficulties of East European central banks in pursuing non-inflationary policies. The main obstacles are the low credibility of stabilization policies and a...
Persistent link: https://www.econbiz.de/10005123602
Cover Image
Central Bank Communication and Output Stabilization
Eijffinger, Sylvester C W; Hoeberichts, Marco; … - C.E.P.R. Discussion Papers - 2004
Some central banks have a reputation for being secretive. A justification for this behaviour that we find in the literature is that being transparent about operations and beliefs hinders the central bank in achieving the best outcome. In other words, a central bank needs flexibility and...
Persistent link: https://www.econbiz.de/10005124006
Cover Image
Monetary Discipline, Germany, and the European Monetary System
Melitz, Jacques - C.E.P.R. Discussion Papers - 1987
Germany in the EMS and is consistent with the evidence that membership has induced several countries to disinflate more than …
Persistent link: https://www.econbiz.de/10005791579
Cover Image
With a Bang, Not a Whimper: Pricking Germany's 'Stock Market Bubble' in 1927 and the Slide into Depression
Voth, Hans-Joachim - C.E.P.R. Discussion Papers - 2002
Asset price inflation presents central banks with a puzzle. I examine the case of Germany, 1925-7, when the Reichsbank …
Persistent link: https://www.econbiz.de/10005792124
Cover Image
Why Does the Yield Curve Predict Economic Activity? Dissecting the Evidence for Germany and the United States
Smets, Frank; Tsatsaronis, Kostas - C.E.P.R. Discussion Papers - 1997
This paper investigates why the slope of the yield curve predicts future economic activity in Germany and the United … spread in that country. However, the main reason for the stronger leading indicator property in Germany is the positive … at lag four in Germany and almost nothing in the United States. …
Persistent link: https://www.econbiz.de/10005123911
Cover Image
Sectoral Regulators and the Competition Authority: Which Relationship is Best?
Barros, Pedro Pita; Hoernig, Steffen - C.E.P.R. Discussion Papers - 2004
consider how this relationship performs in the presence of institutional biases and lobbying efforts. It is found that the best … higher, and decisions are less vulnerable to lobbying. …
Persistent link: https://www.econbiz.de/10005662069
Cover Image
A Political Economy Model of Infrastructure Allocation: An Empirical Assessment
Cadot, Olivier; Röller, Lars-Hendrik; Stephan, Andreas - C.E.P.R. Discussion Papers - 1999
This paper proposes a simultaneous-equation approach to the estimation of the contribution of transport infrastructure accumulation to regional growth. We model explicitly the political-economy process driving infrastructure investments; in doing so, we eliminate a potential source of bias in...
Persistent link: https://www.econbiz.de/10005666545
Cover Image
Special Interest Politics and Aid Fungibility
Lahiri, Sajal; Raimondos-Møller, Pascalis - C.E.P.R. Discussion Papers - 2000
We develop a political-economic model of aid fungibility. A donor country gives aid to a recipient government for the benefit of a target group. However, the recipient government accepts political contributions from a lobby group not targeted by the donor and transfers a fraction of the aid to...
Persistent link: https://www.econbiz.de/10005667087
Cover Image
How Elections Matter: Theory and Evidence from Environmental Policy
List, John; Sturm, Daniel M - C.E.P.R. Discussion Papers - 2004
popular view that choices on secondary policy instruments are largely determined by lobbying, we find strong effects of …
Persistent link: https://www.econbiz.de/10005789133
Cover Image
Safety Nets Within Banks
Felgenhauer, Mike; Grüner, Hans Peter - C.E.P.R. Discussion Papers - 2007
We study how banks should protect their credit departments against the external influence from potential borrowers. We analyze four mechanisms that are widespread in practice: a credit board with unanimity or simple majority, a hierarchy and an advisory system. A bank faces a trade-off between...
Persistent link: https://www.econbiz.de/10005791309