Narrow search
Showing 1 - 10 of 306
Cover Image
Monetary Policy Transparency
Geraats, Petra - CESifo - 2014
There has been a remarkable rise in the transparency of monetary policy during the last two decades. This paper …. Furthermore, it reviews the theoretical literature on monetary policy transparency and relevant empirical findings. The focus is …
Persistent link: https://www.econbiz.de/10010737509
Cover Image
Modeling Two Macro Policy Instruments - Interest Rates and Aggregate Capital Requirements
Gersbach, Hans; Hahn, Volker - CESifo - 2011
We present a simple neoclassical model to explore how an aggregate bank-capital requirement can be used as a macroeconomic policy tool and how this additional tool interacts with monetary policy. Aggregate bank-capital requirements should be adjusted when the economy is hit by cost-push shocks...
Persistent link: https://www.econbiz.de/10009320780
Cover Image
Inflation Targets Versus International Monetary Integration - A Canadian Perspective
Laidler, David - CESifo - 2002
The debate about Canadian-U.S. monetary integration is surveyed. The choice is among overall monetary orders,rather than exchange rate regimes and questions of policy credibility and political accountability are crucial. Canada’s recent economic performance under inflation targets, and...
Persistent link: https://www.econbiz.de/10005406116
Cover Image
Central Bank Independence and Conservatism under Uncertainty: Substitutes or Complements?
Hefeker, Carsten; Zimmer, Blandine - CESifo - 2011
The paper examines the optimal combination of central bank independence and conservatism in the presence of uncertain central bank preferences. We develop a model of endogenous monetary policy delegation in which government chooses the central bank's degree of inde-pendence and conservatism so...
Persistent link: https://www.econbiz.de/10008833933
Cover Image
Transparency, Flexibility and Macroeconomic Stabilization
Geraats, Petra - CESifo - 2014
. This paper shows that such economic transparency could give central banks greater flexibility to respond to macroeconomic …
Persistent link: https://www.econbiz.de/10010877697
Cover Image
Economic Policy Uncertainty, Trust and Inflation Expectations
Istrefi, Klodiana; Piloiu, Anamaria - CESifo - 2013
Theory and evidence suggest that in an environment of well-anchored expectations, temporary news or shocks to economic variables, should not affect agents’ expectations of inflation in the long term. Our estimated structural VARs show that both long- and short-term inflation expectations are...
Persistent link: https://www.econbiz.de/10010670794
Cover Image
Goals and Rules in Central Bank Design
Walsh, Carl - CESifo - 2015
Beginning with the Reserve Bank of New Zealand Act of 1989, central banking reforms have focused on assigning clear goals for which monetary policy authorities can be held accountable. Inflation targeting regimes provide examples of such goal-based policy frameworks. An alternative approach,...
Persistent link: https://www.econbiz.de/10011242154
Cover Image
Interpreting How Others Interpret It: Social Value of Public Information
Gizatulina, Alia - CESifo - 2012
This paper studies the social value of public information in environments without common knowledge of data-generating process. We show that the stronger is the coordination motive behind agents behaviour, the more they would like to interpret private or public signals in the way that they...
Persistent link: https://www.econbiz.de/10010583887
Cover Image
Trends in Monetary Policy Transparency
Geraats, Petra - CESifo - 2009
Transparency has become a prominent feature of monetary policy. This paper provides an overview of central bank … communication practices and is the first to systematically analyze transparency trends throughout the world and across monetary … inflation and economic development have undergone larger increases in transparency. Moreover, it shows that greater transparency …
Persistent link: https://www.econbiz.de/10005051564
Cover Image
Inflation Targeting by Debtor Central Banks in Emerging Market Economies
Löffler, Axel; Schnabl, Gunther; Schobert, Franziska - CESifo - 2010
Given buoyant capital inflows and managed exchange rates the majority of emerging market central banks have continued to accumulate massive foreign reserves. If left unsterilized, the liquidity expansion can threaten domestic macroeconomic stability. To contain domestic inflation these central...
Persistent link: https://www.econbiz.de/10008511598