"true" forecasts of real time data for several periods are employed. -- European Central Bank ; monetary policy ; real time …

in order to account for variations within these variables over time. We argue that measures of money and credit growth … the Fed is concerned, the impact of consumer price inflation, and money and credit growth turns negative during the crisis … the ECB during the crisis. -- Subprime crisis ; federal reserve ; European Central Bank ; equilibrium real interest rate …

time-variant index of central bank independence with government ideology. The results show that leftist governments have … somewhat lower short-term nominal interest rates than rightwing governments when central bank independence is low. In contrast …, short-term nominal interest rates are higher under leftist governments when central bank independence is high. The effect is …