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The Independence of the European Central Bank

Neyer, Ulrike - In: Credit and Capital Markets – Kredit und Kapital 52 (2019) 1, pp. 35-68

The ECB is formally independent of instructions from any government. During and after the financial crisis and the acute sovereign debt crisis in the euro area, the ECB has used new instruments and has taken on new tasks and responsibilities. This has led to discussions about the independence of...

Persistent link: https://www.econbiz.de/10014521951

Monetary Policy and Asset Price Bubbles: A Nonlinear Policy Rule

Mislin, Alexander - In: Credit and Capital Markets – Kredit und Kapital 49 (2016) 4, pp. 507-514

Geldpolitik und Vermögenspreisblasen: Eine nichtlineare Politikregel Die jüngste Debatte um das Konzept des …

Persistent link: https://www.econbiz.de/10014522118

The Non-Standard Monetary Policy Measures of the ECB: Motivations, Effectiveness and Risks

Neri, Stefano; Siviero, Stefano - In: Credit and Capital Markets – Kredit und Kapital 51 (2018) 4, pp. 513-560

Dieser Beitrag untersucht die Herausforderungen, vor denen die Europäische Zentralbank seit dem Ausbruch der globalen … Transmissionsmechanismus zu wahren und die Kreditversorgung des privaten Sektors sicherzustellen, die Grenzen der konventionellen Geldpolitik …

Persistent link: https://www.econbiz.de/10014522193

Sparen, Sparkultur und die neuen Wege der Geldpolitik

Fahrenschon, Georg - In: Credit and Capital Markets – Kredit und Kapital 50 (2017) 2, pp. 121-129

Der Beitrag behandelt die Auswirkungen der expansiven Geldpolitik auf das Sparen und die Sparkultur. Dem Konstrukt der … geringere Renten in den staatlichen Systemen der Altersvorsorge zu erwarten. Durch die Geldpolitik fehlt darüber hinaus der … Verschiebungen der europäischen Geldpolitik bis hin zu direkten Aktivitäten auf den Kapitalmärkten mit der marktwirtschaftlichen …

Persistent link: https://www.econbiz.de/10014522246

Monetary policies and the achievement of bank profit objective

Omankhanlen, Alex; Ilori, Noah; Isibor, Areghan; Okoye, … - In: Journal of Central Banking Theory and Practice 10 (2021) 2, pp. 201-220

This study examined the nexus between monetary policy and the achievement of a bank's profit objective. There have been lots of arguments about the benefits of monetary policy implementation on deposit money bank's operations, since the policies have been seen to impact on their performance....

Persistent link: https://www.econbiz.de/10014558375

Does the effectiveness of monetary policy depend on the choice of policy instrument? Empirical evidence from South Korea

Zuniga, Martha Cruz; Senbet, Dawit - In: Journal of Central Banking Theory and Practice 12 (2023) 2, pp. 239-265

This study provides robust evidence on how the choice ofthe policy instrument for monetary policy influences its impact oneconomic activity. We study the case of South Korea for the period1980-2017. We use FAVAR models that allow a comprehensive explo-ration of different areas of economic...

Persistent link: https://www.econbiz.de/10014558380

Central Bank independence: The case of North African Central Banks

Haoudi, Amina; Touati, Ali Bennagem - In: Journal of Central Banking Theory and Practice 12 (2023) 3, pp. 61-85

The independence of Central Banks is still considered tobe a credibility factor in ensuring price stability. Thus, many centralbanks in transition countries have undergone a change in their stat-utes in order to achieve greater independence from governments. Inthis vein, within a decade, North...

Persistent link: https://www.econbiz.de/10014558403

Modeling which factors impact interest rates

Wang, Guizhou; Hausken, Kjell - In: Journal of Central Banking Theory and Practice 12 (2023) 2, pp. 211-237

The Taylor (1993) rule for determining interest rates is generalized to account for three additional variables: The money supply, money velocity, and the unemployment rate. Thus, five parameters, i.e. weights assigned to the deviation in the inflation rate, the deviation in real GDP (Gross...

Persistent link: https://www.econbiz.de/10014558406

Who should you listen to in a crisis? Differences in communication of central bank policymakers

Lehtimäki, Jonne; Palmu, Marianne - In: Journal of Central Banking Theory and Practice 11 (2022) 3, pp. 33-57

Communication has become a vital part of modern monetary policy, and its importance is even higher during a crisis when a central bank has to calm the markets down. This paper studies the information content of different styles of communication from individual central bank policymakers in the...

Persistent link: https://www.econbiz.de/10014558415

Uncertainty and effectiveness of monetary policy: A bayesian Markov switching-VAR analysis

Nain, Zulquar; Kamaiah, Bandi - In: Journal of Central Banking Theory and Practice 9 (2020) S1, pp. 237-265

There is a growing body of literature examining the effectiveness of the monetary policy on the macroeconomy in different contexts for developed and developing countries. However, lately, especially after the GFC, the focus of research shifted to examine the role of uncertainty in economic...

Persistent link: https://www.econbiz.de/10014558427