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A quantitative exploration of the opportunistic approach to disinflation
Aksoy, Yunus; Orphanides, Athanasios; Small, David; … - Center for Financial Studies - 2005
inflation and its target, and the gap between output and its potential. Under the opportunistic approach to disinflation a …
Persistent link: https://www.econbiz.de/10010986427
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Learning, Endogenous Indexation and Disinflation in the New-Keynesian Model
Wieland, Volker - Center for Financial Studies - 2008
disinflation under inflation targeting policies. The analysis is motivated by the disinflation performance of many inflation …-targeting countries, in particular the gradual Chilean disinflation with temporary annual targets. At the start of the disinflation … adaptive learning lowers the cost of disinflation. This reduction can be exploited by a gradual approach to disinflation. Firms …
Persistent link: https://www.econbiz.de/10005007625
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A Quantitative Exploration of the Opportunistic Approach to Disinflation
Aksoy, Yunus; Orphanides, Athanasios; Small, David; … - Center for Financial Studies - 2005
inflation and its target, and the gap between output and its potential. Under “the opportunistic approach to disinflation” a …
Persistent link: https://www.econbiz.de/10005600442
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Learning, endogenous indexation and disinflation in the New-Keynesian model
Wieland, Volker - Center for Financial Studies - 2008
disinflation under inflation targeting policies. The analysis is motivated by the disinflation performance of many inflation …-targeting countries, in particular the gradual Chilean disinflation with temporary annual targets. At the start of the disinflation … adaptive learning lowers the cost of disinflation. This reduction can be exploited by a gradual approach to disinflation. Firms …
Persistent link: https://www.econbiz.de/10011200313
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Imperfect knowledge, inflation expectations, and monetary policy
Orphanides, Athanasios; Williams, John C. - Center for Financial Studies - 2003
This paper investigates the role that imperfect knowledge about the structure of the economy plays in the formation of expectations, macroeconomic dynamics, and the efficient formulation of monetary policy. Economic agents rely on an adaptive learning technology to form expectations and to...
Persistent link: https://www.econbiz.de/10010986502
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Imperfect Knowledge, Inflation Expectations, and Monetary Policy
Orphanides, Athanasios; Williams, John C. - Center for Financial Studies - 2003
This paper investigates the role that imperfect knowledge about the structure of the economy plays in the formation of expectations, macroeconomic dynamics, and the efficient formulation of monetary policy. Economic agents rely on an adaptive learning technology to form expectations and to...
Persistent link: https://www.econbiz.de/10005120765
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Der Euro in stürmischen Zeiten : Beiträge von Otmar Issing zur Wirtschafts- und Währungspolitik am Center for Financial Studies 2006-2015
Issing, Otmar - Center for Financial Studies - 2016
Persistent link: https://www.econbiz.de/10011478326
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Risks to price stability, the zero lower bound and forward guidance: A real-time assessment
Coenen, Günter; Warne, Anders - Center for Financial Studies - 2013
This paper employs stochastic simulations of the New Area-Wide Model - microfounded open-economy model developed at the ECB - to investigate the consequences of the zero lower bound on nominal interest rates for the evolution of risks to price stability in the euro area during the recent...
Persistent link: https://www.econbiz.de/10010986359
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Money in monetary policy design under uncertainty: A formal characterization of ECB-style cross-checking
Beck, Günter W.; Wieland, Volker - Center for Financial Studies - 2006
The European Central Bank has assigned a special role to money in its two pillar strategy and has received much criticism for this decision. The case against including money in the central banks interest rate rule is based on a standard model of the monetary transmission process that underlies...
Persistent link: https://www.econbiz.de/10010986372