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Central Bank Instruments, Fiscal Policy Regimes, and the Requirements for Equilibrium Determinacy

Schabert, Andreas - 2006

This paper examines the role of the monetary instrument choice for local equilibrium determinacy under sticky prices and different fiscal policy regimes. Corresponding to Benhabib et al.'s (2001) results for interest rate feedback rules, the money growth rate should not rise by more than one for...

Persistent link: https://www.econbiz.de/10010325633

Reform der geldpolitischen Strategie der Europäischen Zentralbank

Lommatzsch, Kirsten; Tober, Silke - In: DIW Wochenbericht 70 (2003) 7, pp. 110-117

Über die geldpolitische Strategie der Europäischen Zentralbank (EZB) ist in den vier Jahren ihres Bestehens vielfach …. Für ein deutlich über null liegendes Inflationsziel der Zentralbank spricht zudem, dass Qualitätsverbesserungen bei der … Inflationsmessung unvollständig erfasst werden und die Zentralbank bei konjunkturellen Übersteigerungen oder Einbrüchen einen gewissen …

Persistent link: https://www.econbiz.de/10011601416

Ausstieg aus der unkonventionellen Geldpolitik - die EZB sollte vorangehen: Kommentar

Belke, Ansgar - In: DIW Wochenbericht 77 (2010) 5, pp. 12

Persistent link: https://www.econbiz.de/10011602124

Committee Structure and its Implications for Monetary Policy Decision-making

Berk, Jan Marc; Bierut, Beata K. - 2003

We investigate the implications for the setting of interest rateswhen monetary policy decisions are taken by a committee, in whicha subset of members may meet prior to the voting in the committeeand therefore has the possibility to reach consensus ex ante to voteunanimously ex post. We allow for...

Persistent link: https://www.econbiz.de/10010324842

New Economy, Old Central Banks?

Berk, Jan Marc - 2002

Proponents of the so-called New Economy claim that it entails a structural change of the economy. Such a change, in turn, would require the central bank to rethink its monetary policy to the extent that traditional relationships between inf1ation and economic growth are no longer valid. But such...

Persistent link: https://www.econbiz.de/10010325031

The Effects of Learning in Interactive Monetary Policy Committees

Berk, Jan Marc; Bierut, Beata K. - 2004

We develop a theoretical framework for studying the effects of interaction on the quaJity of decision-making by monetary policy committees. We show that interaction, i.e. increasing one's expertise through an exchange of views, is most likely not to result in interdependent voting...

Persistent link: https://www.econbiz.de/10010325323

The Impact of Monetary Policy on Economic Activity - Evidence from a Meta-Analysis

Ridhwan, Masagus M.; de Groot, Henri L.F.; Nijkamp, Peter - 2010

This paper presents the findings a meta-analysis identifying the causes of variation in the impact of monetary policies on economic development. The sample of observations included in our meta-analysis is drawn from primary studies that uniformly employ Vector Autoregressive (VAR) models. Our...

Persistent link: https://www.econbiz.de/10010325708

Modeling Monetary Policy

Reynard, Samuel; Schabert, Andreas - 2009

We develop a macroeconomic framework where money issupplied against only few eligible securities in open marketoperations. The relationship between the policy rate,expected inflation and consumption growth is affected bymoney market conditions, i.e. the varying liquidity value ofeligible assets...

Persistent link: https://www.econbiz.de/10010325945

The Transmission of Monetary Policy through Conventional and Islamic Banks

Zaheer, Sajjad; Ongena, Steven; van Wijnbergen, Sweder - 2012

We investigate the differences in banks' responses to monetary policy shocks across bank size, liquidity, and type, i.e., conventional versus Islamic, in Pakistan between 2002:II to 2010:I. We find that following a monetary contraction, small banks with liquid balance sheets cut their lending...

Persistent link: https://www.econbiz.de/10010326374

Die Internationalisierung des chinesischen Renminbi: eine Chance für China

Stier, Olaf; Bernoth, Kerstin; Fisher, Alexander - In: DIW Wochenbericht 77 (2010) 20, pp. 10-15

Geldpolitik und ein freier Devisenhandel sind zwei der Eckpfeiler eines modernen Finanzwesens. Die Liberalisierung der …

Persistent link: https://www.econbiz.de/10011602172

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