Narrow search
Showing 1 - 10 of 292
Cover Image
Monetary policy for an open economy : an alternative framework with optimising agents and sticky prices
McCallum, Bennett T.; Nelson, Edward - 2001
The new open-economy macroeconomics seeks to provide an improved basis for monetary and exchange-rate policy through the construction of open-economy models that feature rational expectations, optimising agents, and slowly adjusting prices of goods. This paper promotes an alternative approach...
Persistent link: https://www.econbiz.de/10011518033
Cover Image
Inflation expectations, inflation target credibility and the COVID-19 pandemic : new evidence from Germany
Coleman, Winnie; Nautz, Dieter - 2021
citizens in January 2019 that is designed to measure long-term inflation expectations and the credibility of the inflation … target. Our results indicate that credibility has decreased in our sample period, particularly in the course of the deep … several years, credibility has declined mainly because Germans increasingly expect that inflation will be much higher than 2 …
Persistent link: https://www.econbiz.de/10012590362
Cover Image
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 …
Persistent link: https://www.econbiz.de/10013285915
Cover Image
The credibility of the ECB's inflation target in times of Corona : new evidence from an online survey
Coleman, Winnie; Nautz, Dieter - 2020 - This version: June 8, 2020
Evidence on the credibility of a central bank's inflation target typically refers to the anchoring of survey …-varying credibility of the inflation target. Our results indicate that credibility has significantly decreased in our sample period … below 2% for several years, credibility has declined mainly because Germans increasingly expect that inflation will be much …
Persistent link: https://www.econbiz.de/10012225643
Cover Image
Toward a holistic approach to central bank trust
Eickmeier, Sandra; Petersen, Luba - 2024
We examine public trust in the European Central Bank (ECB) and its determinants using data from the Bundesbank Household Panel survey for Germany. Employing an interdisciplinary approach that integrates insights from political science and psychology, we offer a fresh perspective on the factors...
Persistent link: https://www.econbiz.de/10014632327
Cover Image
Is globalization the root cause of declining inflation?
Hukkinen, Juhana; Virén, Matti E. E. - 2022
This paper examines the reasons for the declining path of inflation since the 1970s. In particular, it focusses on the role of globalization - covering both changes in the global market structure and technical and structural developments in trade and production. In addition, the paper deals with...
Persistent link: https://www.econbiz.de/10014551656
Cover Image
Central bank communication and the perception of monetary policy by financial market experts
Schmidt, Sandra; Nautz, Dieter - 2010
This paper investigates why financial market experts misperceive the interest rate policy of the European Central Bank (ECB). Assuming a Taylor-rule-type reaction function of the ECB, we use qualitative survey data on expectations about the future interest rate, inflation, and output to discover...
Persistent link: https://www.econbiz.de/10008796249
Cover Image
Do financial markets react to Bank of England communication?
Reeves, Rachel (contributor); Sawicki, Michael (contributor) - 2005
perceived credibility. Since the 1990s central banks have placed more emphasis on clear communications and transparency as …
Persistent link: https://www.econbiz.de/10003384156
Cover Image
Monetary transmission right from the start : the (dis)connection netween the money market and the ECB’s main refinancing rates
Abbassi, Puriya; Nautz, Dieter - 2010
The relation between the ECB's main refinancing (MRO) rates and the money market is key for the monetary transmission process in the euro area. This paper investigates how money market rates respond to the new information revealed by MRO auctions. Our results confirm a stabilizing level...
Persistent link: https://www.econbiz.de/10003962841
Cover Image
Distributional consequences of asset price inflation in the euro area
Adam, Klaus; Tzamourani, Panagiota - 2015
We study the distributional consequences of housing price, bond price and equity price increases for Euro Area households using data from the Household Finance and Consumption Survey (HFCS). The capital gains from bond price and equity price increases turn out to be concentrated among relatively...
Persistent link: https://www.econbiz.de/10011316626