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Transmission of global financial shocks to EMU member states : the role of monetary policy and national factors

Gelman, Maria; Jochem, Axel; Reitz, Stefan - 2016

commercial banks to the Eurosystem's open market operations in conjunction with the redistribution of liquidity via the TARGET …

Persistent link: https://www.econbiz.de/10011495568

Would households understand average inflation targeting?

Hoffmann, Mathias; Pavlova, Lora; Mönch, Emanuel; … - 2022

Yes, they would. In a randomized control trial, we provide groups of respondents from the Bundesbank Online Panel Households with information about a hypothetical alternative ECB monetary policy regime akin to the Federal Reserve’s flexible average inflation targeting (AIT). Inflation...

Persistent link: https://www.econbiz.de/10013205445

Current account adjustment in EU countries : does euro-area membership make a difference?

Herrmann, Sabine; Jochem, Axel - 2013

The paper evaluates current account dynamics in countries with different exchange rate regimes within the EU. In this, the empirical analysis explicitly differentiates between countries with a flexible and a fixed exchange rate regime and members of a monetary union. In addition, we model the...

Persistent link: https://www.econbiz.de/10010211960

Channels of risk sharing in the eurozone : what can banking and capital market union achieve?

Hoffmann, Mathias; Maslov, Egor; Sørensen, Bent E.; … - In: IMF economic review 67 (2019) 3, pp. 443-495

Persistent link: https://www.econbiz.de/10012241630

Rebalancing the euro area : is wage adjustment in Germany the answer?

Hoffmann, Mathias; Kliem, Martin; Krause, Michael; … - 2020

We assess to what extent wage inflation policies in Germany could contribute to an economic rebalancing in the euro … and output in Germany and the rest of the euro area. The duration of constant interest rates and expectations about the … consists of Germany, the rest of the euro area, and the rest of the world. …

Persistent link: https://www.econbiz.de/10012184056

Forceful or persistent : wow the ECB's new inflation target affects households' inflation expectations

Hoffmann, Mathias; Mönch, Emanuel; Pavlova, Lora; … - 2023

We study how households adjust their medium-term inflation expectations under the new ECB strategy. We find that survey respondents make little difference between the previous strategy of targeting inflation rates close to but below 2% and the new strategy with a symmetric 2% target. Yet,...

Persistent link: https://www.econbiz.de/10014391441

Determinants of TARGET2 transactions of European banks based on micro-data

Drott, Constantin; Goldbach, Stefan; Jochem, Axel - 2022

Germany and the rest of the euro area. Using data from the German component of Eurosystem's real-time gross settlement system …

Persistent link: https://www.econbiz.de/10013411245

The Impact of the Euro on International Stability and Volatility

Gerlach, Stefan; Hoffmann, Mathias - Directorate-General Economic and Financial Affairs, … - 2008

We investigate the impact of EMU on macroeconomic volatility. The volatilities of inflation and nominal interest rates have declined, as has, more importantly, the volatility of real consumption growth. Since global volatility has fallen for reasons unrelated to EMU (the â€œgreat...

Persistent link: https://www.econbiz.de/10008577483