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The gender promotion gap : evidence from central banking

Hospido, Laura; Laeven, Luc; Lamo, Ana - 2019

We examine gender differences in career progression and promotions in central banking, a stereotypical male-dominated occupation, using confidential anonymized personnel data from the European Central Bank (ECB) during the period 2003-2017. A wage gap emerges between men and women within a few...

Persistent link: https://www.econbiz.de/10012003645

What measure of inflation should a developing country central bank target?

Anand, Rahul; Prasad, Eswar S.; Zhang, Boyang - 2015

In closed or open economy models with complete markets, targeting core inflation enables monetary policy to maximize welfare by replicating the flexible price equilibrium. We analyze this result in the context of developing economies, where a large proportion of households are credit constrained...

Persistent link: https://www.econbiz.de/10011307888

Distributional effects of monetary policy in emerging market economies

Prasad, Eswar S.; Zhang, Boyang - 2015

We develop a two-sector, heterogeneous-agent model with incomplete financial markets to study the distributional effects and aggregate welfare implications of alternative monetary policy rules in emerging market economies. Relative to inflation targeting, exchange rate management benefits...

Persistent link: https://www.econbiz.de/10011309046

Optimal price indices for targeting inflation under incomplete markets

Anand, Rahul; Prasad, Eswar S. - 2010

In models with complete markets, targeting core inflation enables monetary policy to maximize welfare by replicating the flexible price equilibrium. In this paper, we develop a twosector two-good closed economy new Keynesian model to study the optimal choice of price index in markets with...

Persistent link: https://www.econbiz.de/10008810538

Hyperbolic discounting and positive optimal inflation

Graham, Liam; Snower, Dennis J. - 2011

The Friedman rule states that steady-state welfare is maximized when there is deflation at the real rate of interest. Recent work by Khan et al (2003) uses a richer model but still finds deflation optimal. In an otherwise standard new Keynesian model we show that, if households have hyperbolic...

Persistent link: https://www.econbiz.de/10009306325

Monetary policy, growth and employment in developing areas : a review of the literature

Junankar, Pramod N. - 2019

In this paper we review the literature on the impact that monetary policy has on growth and employment in developing … investment and technological change and hence on economic growth and on employment. There is very little research about the … direct links between monetary policy and employment. The impact of growth on employment depends on what are the main drivers …

Persistent link: https://www.econbiz.de/10011988624

How successful are banking sector reforms in emerging market economies? : evidence from impact of monetary policy on levels and structures of firm debt in India

Bhaumik, Sumon Kumar; Kutan, Ali Mustafa; Majumdar, Sudipa - 2016

Many emerging markets have undertaken significant financial sector reforms especially in their banking sectors that have been quite critical for both financial development and real economic activity. In this paper, we investigate the success of banking reforms in India where significant banking...

Persistent link: https://www.econbiz.de/10011493763

Distributional effects of macroeconomic policy choices in emerging market economies

Prasad, Eswar S. - 2013

Distributional consequences typically receive limited attention in economic models that analyze the effects of monetary and financial sector policies. These consequences deserve more attention since financial markets are incomplete, imperfect, and economic agents' access to them is often...

Persistent link: https://www.econbiz.de/10010222156

Design choices for central bank digital currency: policy and technical considerations

Allen, Sarah; Capkun, Srdjan; Eyal, Ittay; Fanti, Giulia; … - 2020

Central banks around the world are exploring and in some cases even piloting Central Bank Digital Currencies (CBDCs). CBDCs promise to realize a broad range of new capabilities, including direct government disbursements to citizens, frictionless consumer payment and money-transfer systems, and a...

Persistent link: https://www.econbiz.de/10012256941

Committee decision-making under the threat of leaks

Fehrler, Sebastian; Hahn, Volker - 2020

Leaks are pervasive in politics. Hence, many committees that nominally operate under secrecy de facto operate under the threat that information might be passed on to outsiders. We study theoretically and experimentally how this possibility affects the behavior of committee members and the...

Persistent link: https://www.econbiz.de/10012295187

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