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A Collective Household Model of Time Allocation - a Comparison of Native Dutch and Immigrant Households in the Netherlands

Klaveren, Chris van - 2008

Although the number of immigrant households in the Netherlands is substantial, the labor supply choices of this group … time to different activities. In order to do so, we empirically estimate a collective household labor supply model. The … main findings are that: (1) Leisure and household income are the most important variables in the utility function of the …

Persistent link: https://www.econbiz.de/10012774044

Greenspan Shrugs : Central Bank Communication, Formal Pronouncements and Bond Market Volatility

Chirinko, Robert S. - 2013

This paper presents empirical evidence on one aspect of central bank communication policy - formal pronouncements by central bankers - to better understand whether this channel matters and, if so, the nature of the information being transmitted. We examine the relationship between three types of...

Persistent link: https://www.econbiz.de/10013081706

Transparency, Flexibility and Macroeconomic Stabilization

Geraats, Petra M. - 2014

Many central banks have become more transparent during the last decade, in particular about macroeconomic prospects. This paper shows that such economic transparency could give central banks greater flexibility to respond to macroeconomic shocks. In particular, it allows central banks to...

Persistent link: https://www.econbiz.de/10013057641

Monetary Policy Transparency

Geraats, Petra M. - 2014

There has been a remarkable rise in the transparency of monetary policy during the last two decades. This paper provides an overview of the ways in which central banks have been providing more information about their monetary policymaking. Furthermore, it reviews the theoretical literature on...

Persistent link: https://www.econbiz.de/10013058509

Forward Guidance Contracts

Gersbach, Hans - 2015

We examine “Forward Guidance Contracts”, which make central bankers' utility contingent on the precision of interest-rate forecasts for some time. Such Forward Guidance Contracts are a flexible commitment device and can improve economic performance when the economy is stuck in a liquidity...

Persistent link: https://www.econbiz.de/10013021419

Political Pressures and Monetary Mystique

Geraats, Petra M. - 2021

Central bank independence and transparency have become best practice in monetary policy. This paper cautions that transparency about economic information may not be beneficial in the absence of central bank independence. The reason is that it reduces monetary uncertainty, which could make the...

Persistent link: https://www.econbiz.de/10013317033

Transparency of Monetary Policy : Theory and Practice

Geraats, Petra M. - 2021

Transparency has become one of the main features of monetary policymaking during the last decade. This paper establishes some stylized facts. In addition, it provides a systematic overview of the practice of monetary policy transparency around the world. It shows much diversity in information...

Persistent link: https://www.econbiz.de/10013318125

The Role of Information and Experience for Households’ Inflation Expectations

Conrad, Christian; Enders, Zeno; Glas, Alexander - 2021

Based on a new survey of German households, we investigate the role of information channels and lifetime experience for households' inflation expectations. We show that the types of information channels that households use to inform themselves about monetary policy are closely related to their...

Persistent link: https://www.econbiz.de/10013315213

Lender of Last Resort and Bank Closure Policy

Freixas, Xavier; Parigi, Bruno Maria - 2021

During the last decades a consensus has emerged that it is impossible to disentangle liquidity shocks from solvency shocks. As a consequence the classical lender of last resort rules, as defined by Thornton and Bagehot, based on lending to solvent illiquid institutions appear ill-suited to this...

Persistent link: https://www.econbiz.de/10013316536

MPC Heterogeneity and Household Balance Sheets

Fagereng, Andreas - 2019

to consume (MPCs). Our main contribution is to document how MPCs vary with household characteristics and prize size, and …

Persistent link: https://www.econbiz.de/10012898430

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