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To our knowledge, this paper is the first to discuss the response of European energy commodity prices to unexpected monetary policy surprises from the European Central Bank. Using the Rigobon (2003) identification through heteroscedasticity method, we find a significant and positive response...
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Wende in der Geldpolitik, bei zugleich geringer Verzinsung der hohen Wertpapierbestände, führten zu massiver Kritik. Die … gerechtfertigt noch hilfreich. Schließlich haben die EWU-Staaten aufgrund der ultra-expansiven Geldpolitik des Eurosystems sehr lange …
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Marvin Goodfriend's (2014) insightful, informative and provocative work explains concisely and convincingly why the Fed needs rules and boundaries. This paper reviews the broader institutional design problem regarding the effectiveness of the central bank in practice and confirms the need for...
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