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The Role of Short Rates and Foreign Long Rates in the Determination of Long-Term Interest Rates

Fell, J.P.C. - European Central Bank - 1996

This study examines the changing relationship between domestic long-term , domestic short-term and foreign long-term interest rates.

Persistent link: https://www.econbiz.de/10005641235

Empirical assessment of Monetary Policy Instruments and Procedures (MPIP) in EU Countries.

Escriva, J.L.; Fagan, F.P. - European Central Bank - 1996

This paper provides empirical evidence on the use of monetary policy instruments and procedures (MPIP) in EU countries. In particular, it focuses on three important issues which arise in this context. Fist, we examine the structural position of the EU money markets. Second , evidence is...

Persistent link: https://www.econbiz.de/10005641237

Acquisition versus greenfield: the impact of the mode of foreign bank entry on information and bank lending rates

Claeys, Sophie; Hainz, Christa - European Central Bank - 2006

Policy makers often decide to liberalize foreign bank entry but at the same time restrict the mode of entry. We study how different entry modes affect the interest rate for loans in a model in which domestic banks possess private information about their incumbent clients but foreign banks have...

Persistent link: https://www.econbiz.de/10005222403

National prices and wage setting in a currency union

Sánchez, Marcelo - European Central Bank - 2009

Existing work on wage bargaining (as exemplified by Cukierman and Lippi, 2001) typicallypredicts more aggressive wage setting under monetary union. This insight has not beenconfirmed by the EMU experience, which has been characterised by wage moderation,thereby eliciting criticism from Posen and...

Persistent link: https://www.econbiz.de/10005866574

The reception of public signals in financial marketswhat if central bank communication becomes stale?

Ehrmann, Michael; Sondermann, David - European Central Bank - 2009

-term interest rates to the Bank of England’s inflation report andto macroeconomic announcements. Due to the quarterly frequency at …, the more timehas elapsed since the latest release of an inflation report, market volatility shouldincrease, the price …

Persistent link: https://www.econbiz.de/10005866483

Optimal simple monetary policy rules and non-atomistic wage setters in a New-Keynesian framework

Gnocchi, Stefano - European Central Bank - 2006

non-atomistic unions. It is shown that concentrated labor markets call for more aggressive inflation stabilization. This …

Persistent link: https://www.econbiz.de/10005344846

Opting out of the Great Inflation: German monetary policy after the break down of Bretton Woods

Beyer, Andreas; Gaspar, Vítor; Gerberding, Christina; … - European Central Bank - 2009

interpreted, first and foremost, as a commitment device. In our setting, a monetary target helps anchoring inflation and inflation … well as a strong response to deviations of inflation from target and to the activity growth gap. In contrast, the response …

Persistent link: https://www.econbiz.de/10005002749

Maintaining low inflation: money, interest rates, and policy stance

Reynard, Samuel - European Central Bank - 2007

qualitative and quantitative information on subsequent inflation. The usefulness of monetary analysis is contrasted to weaknesses … in modeling monetary policy and inflation with respectively short-term interest rates and real activity measures. The … analysis sheds light on the recent change in inflation volatility and persistence as well as on the Phillips curve flattening …

Persistent link: https://www.econbiz.de/10005530771

The central bank as a risk manager: quantifying and forecasting inflation risks

Kilian, Lutz; Manganelli, Simone - European Central Bank - 2003

situation poses to price stability. We propose to regard the central banker as a risk manager who aims to contain inflation …

Persistent link: https://www.econbiz.de/10005530801

Forecasting inflation and tracking monetary policy in the euro area: does national information help?

Cristadoro, Riccardo; Venditti, Fabrizio; Saporito, Giuseppe - European Central Bank - 2008

the Generalized Dynamic Factor model to develop a set of core inflation indicators that, combining national data with area …

Persistent link: https://www.econbiz.de/10005530864

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