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The zero-interest-rate and the role of the exchange rate for monetary policy in Japan

Coenen, Günter; Wieland, Volker - 2003

Persistent link: https://www.econbiz.de/10001757651

The zero-interest-rate and the role of the exchange rate for monetary policy in Japan

Coenen, Günter; Wieland, Volker - 2003

interest rates as experienced in Japan since the mid-1990s. Our analysis is based on an estimated model of Japan, the United … impact of the zero bound on the effectiveness of interest rate policy in Japan in terms of stabilizing output and inflation … the zero bound and evade a potential liquidity trap. Finally, we investigate the international consequences of these …

Persistent link: https://www.econbiz.de/10009765351

Opting out of the great inflation : German monetary policy after the break down of Bretton Woods

Beyer, Andreas; Gaspar, Vítor; Gerberding, Christina; … - 2008

During the turbulent 1970s and 1980s the Bundesbank established an outstanding reputation in the world of central banking. Germany achieved a high degree of domestic stability and provided safe haven for investors in times of turmoil in the international financial system. Eventually the...

Persistent link: https://www.econbiz.de/10003864082

Money in monetary policy design : monetary cross-checking in the New-Keynesian Model

Beck, Günter W.; Wieland, Volker - 2009

In the New-Keynesian model, optimal interest rate policy under uncertainty is formulated without reference to monetary aggregates as long as certain standard assumptions on the distributions of unobservables are satisfied. The model has been criticized for failing to explain common trends in...

Persistent link: https://www.econbiz.de/10003887442

Central banks : paradise lost

Issing, Otmar - 2012

Persistent link: https://www.econbiz.de/10009554282

Learning, endogenous indexation and disinflation in the New-Keynesian model

Wieland, Volker (contributor) - 2008

This paper introduces adaptive learning and endogenous indexation in the New-Keynesian Phillips curve and studies disinflation under inflation targeting policies. The analysis is motivated by the disinflation performance of many inflation-targeting countries, in particular the gradual Chilean...

Persistent link: https://www.econbiz.de/10003750117

Price stability and monetary policy effectiveness when nominal interest rates are bounded at zero

Coenen, Günter (contributor); … - 2003

Persistent link: https://www.econbiz.de/10001815184

A small estimated euro area model with rational expectations and nominal rigidities

Coenen, Günter; Wieland, Volker - 2003

Persistent link: https://www.econbiz.de/10001788610

Price stability and monetary policy effectiveness when nominal interest rates are bounded at zero

Coenen, Günter; Orphanides, Athanasios; Wieland, Volker - 2003

Persistent link: https://www.econbiz.de/10001788615

A small estimated euro area model with rational expectations and nominal rigidities

Coenen, Günter; Wieland, Volker - 2003

In this paper we estimate a small model of the euro area to be used as a laboratory for evaluating the performance of alternative monetary policy strategies. We start with the relationship between output and inflation and investigate the fit of the nominal wage contracting model due to Taylor...

Persistent link: https://www.econbiz.de/10009765350