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Dismantling the boundaries of the ECB's monetary policy mandate : the CJEU's OMT judgement and its consequences
Feld, Lars P. (contributor); Fuest, Clemens (contributor);  … - Stiftung Marktwirtschaft / Kronberger Kreis - 2016
The German Federal Constitutional Court (Bundesverfassungsgericht) submitted an order for referral to the European Court of Justice (CJEU) in 2014, asking it to clarify the compatibility of the "Outright Monetary Transactions" (OMT)-Programme with European Union law. The OMT-Programme prepares...
Persistent link: https://www.econbiz.de/10011445584
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Quantitative Easing : A Rationale and Some Evidence from Japan
Wieland, Volker - 2010
This paper reviews the rationale for quantitative easing when central bank policy rates reach near zero levels in light of recent announcements regarding direct asset purchases by the Bank of England, the Bank of Japan, the U.S. Federal Reserve and the European Central Bank. Empirical evidence...
Persistent link: https://www.econbiz.de/10013149980
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Surprising Comparative Properties of Monetary Models : Results from a New Data Base
Taylor, John B. - 2010
In this paper we investigate the comparative properties of empirically-estimated monetary models of the U.S. economy. We make use of a new data base of models designed for such investigations. We focus on three representative models: the Christiano, Eichenbaum, Evans (2005) model, the Smets and...
Persistent link: https://www.econbiz.de/10012757616
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Robustness of Simple Monetary Policy Rules Under Model Uncertainty
Levin, Andrew T.; Wieland, Volker; Williams, John C. - 2021
In this paper, we investigate the properties of alternative monetary policy rules using four structural macroeconometric models: the Fuhrer-Moore model, Taylor's Multi-Country Model, the MSR model of Orphanides and Wieland, and the FRB staff model. All four models incorporate the assumptions of...
Persistent link: https://www.econbiz.de/10013223571
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Die geldpolitische Strategie der Europäischen Zentralbank : was geändert werden sollte und was nicht
Feld, Lars P. (contributor); Fuest, Clemens (contributor);  … - Stiftung Marktwirtschaft / Kronberger Kreis - 2021
Die Europäische Zentralbank (EZB) führt derzeit eine Überprüfung ihrer geldpolitischen Strategie durch. Die letzte … Mitgliedstaaten. Es sollte vermieden werden, dass die Geldpolitik fiskalisch dominiert wird. Das hierarchische Mandat der EZB mit … EZB stärker an quantitativen Referenzwerten (Zinsregeln, Geldmengenwachstum) orientieren. Die Transparenz der Geldpolitik …
Persistent link: https://www.econbiz.de/10012483382
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Die Rolle von Bargeld in der Geldtheorie und Geldpolitik
Wieland, Volker - In: 3. Bargeldsymposium der Deutschen Bundesbank 2016, (pp. 44-61). 2016
Persistent link: https://www.econbiz.de/10011720739
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Die geldpolitische Strategie der Europäischen Zentralbank$dwas geändert werden sollte und was nicht
Feld, Lars P. (contributor); Fuest, Clemens (contributor);  … - Stiftung Marktwirtschaft / Kronberger Kreis - 2021
The European Central Bank (ECB) is currently conducting a review of its monetary policy strategy. The last formal review took place in 2003. Now the focus is on the extent to which this strategy has contributed in recent years to fulfill the mandate set out in the Treaties of the European Union...
Persistent link: https://www.econbiz.de/10012593332