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Designing target rules for international monetary policy cooperation
Benigno, Gianluca (contributor);  … - 2004
Persistent link: https://www.econbiz.de/10002527947
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Die Theorie der optimalen Währungsräume und die politische Reformfähigkeit - ein vernachlässigtes Kriterium
Heinemann, Friedrich - 1998
In this paper, a short survey is given on the contents and some problems of the theory of optimal currency areas. In … conventional theory is inspired by a phenomenon that can be observed for example in Germany but also in other European countries … the nominal exchange rate. The conventional theory with the focus on private agents' behaviour - e.g. in the context of …
Persistent link: https://www.econbiz.de/10013428120
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Too much too soon : instability and indeterminacy with forward-looking rules
Batini, Nicoletta; Pearlman, Joseph - 2002
This paper extends the existing literature on the uniqueness and stability conditions for an equilibrium under inflation-forecast-based (IFB) rules. It shows that, for a variety of New Keynesian sticky-price and sticky-inflation models, these are a function not just of the degree of...
Persistent link: https://www.econbiz.de/10011517930
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Central bank's two-way communication with the public and inflation dynamics
Aoki, Kosuke (contributor); Kimura, Takeshi (contributor) - 2008
Using a model of island economy where financial markets aggregate dispersed information of the public, we analyze how two-way communication between the central bank and the public affects inflation dynamics. When inflation target is observable and credible to the public, markets provide the bank...
Persistent link: https://www.econbiz.de/10003867884
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Robustly optimal monetary policy
Sheedy, Kevin D. (contributor) - 2007
Persistent link: https://www.econbiz.de/10003595280
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Credibility of monetary regimes: is inflation targeting different?
Kunter, Kürşat; Janssen, Norbert G. J. - 2002
Persistent link: https://www.econbiz.de/10001644514
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Evaluating effectiveness of price level targeting in the presence of increasing uncertainty
Kara, Engin; Pirzada, Ahmed - 2021
Persistent link: https://www.econbiz.de/10012820404
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Hitting the elusive inflation target
Bianchi, Francesco; Melosi, Leonardo; Rottner, Matthias - 2021
Since the 2001 recession, average core inflation has been below the Federal Reserve’s 2% target. This deflationary bias is a predictable consequence of a symmetric monetary policy strategy that fails to recognize the risk of encountering the zero-lower-bound. An asymmetric rule according to...
Persistent link: https://www.econbiz.de/10012651566
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Inflation target credibility in times of high inflation
Coleman, Winnie; Nautz, Dieter - 2022
We use a representative online survey to investigate the inflation expectations of German consumers and the credibility of the ECB's inflation target during the recent high inflation period. We find that credibility has trended downwards since summer 2021, reaching an all-time low in April 2022....
Persistent link: https://www.econbiz.de/10013285915
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Monetary policy and endogenous financial crises
Boissay, Frédéric; Collard, Fabrice; Galí, Jordi; … - 2022
We study whether a central bank should deviate from its objective of price stability to promote financial stability. We tackle this question within a textbook New Keynesian model augmented with capital accumulation and microfounded endogenous financial crises. We compare several interest rate...
Persistent link: https://www.econbiz.de/10013259617