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Forecasting ECB monetary policy: accuracy is (still) a matter of geography
Berger, Helge; Ehrmann, Michael; Fratzscher, Marcel - 2006
and to anticipate monetary policy by the ECB? Using a database of surveys of professional ECB policy forecasters in 24 …
Persistent link: https://www.econbiz.de/10011604624
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Monetary policy in the media
Berger, Helge; Ehrmann, Michael; Fratzscher, Marcel - 2006
, and thus an important factor for its credibility and policy effectiveness. This paper analyses the coverage which ECB … that the press critically discusses the ECB’s policy decisions in the context of prior market expectations and of the … inflation environment, and that the media’s coverage of decisions is generally highly responsive to ECB communication – in …
Persistent link: https://www.econbiz.de/10011604725
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How much does the public know about the ECB's monetary policy? Evidence from a survey of Dutch households
van der Cruijsen, Carin; Jansen, David-Jan; de Haan, Jakob - 2010
households, we investigate these questions for the case of the European Central Bank (ECB). Our findings suggest that knowledge … on the ECB’s objectives is far from perfect. Both a weak desire to be informed and unawareness of insufficient knowledge …
Persistent link: https://www.econbiz.de/10011605311
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Monetary policy and bank equity values in a time of low interest rates
Ampudia, Miguel; van den Heuvel, Skander - 2018
statements and press conferences announcing monetary policy actions taken by the ECB. We find that an unexpected decrease of 25 …
Persistent link: https://www.econbiz.de/10012142043
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Monetary policy rules in the pre-EMU era: Is there a common rule?
Eleftheriou, Maria; Gerdesmeier, Dieter; Roffia, Barbara - 2006
Despite the great importance and final success of the convergence process that led to the establishment of the European Monetary Union, there is no clear agreement regarding the monetary policy pursued in the member countries during the convergence process. This paper contributes to the...
Persistent link: https://www.econbiz.de/10011604705
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Maintaining low inflation: money, interest rates, and policy stance
Reynard, Samuel - 2007
This paper presents a systematic empirical relationship between money and subsequent prices and output, using US, euro area and Swiss data since the 1960-70s. Monetary developments, unlike interest rate stance measures, are shown to provide qualitative and quantitative information on subsequent...
Persistent link: https://www.econbiz.de/10011604802
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The effects of monetary policy on unemployment dynamics under model uncertainty: evidence from the US and the euro area
Altavilla, Carlo; Ciccarelli, Matteo - 2009
This paper explores the role that the imperfect knowledge of the structure of the economy plays in the uncertainty surrounding the effects of rule-based monetary policy on unemployment dynamics in the euro area and the US. We employ a Bayesian model averaging procedure on a wide range of models...
Persistent link: https://www.econbiz.de/10011605135
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Monetary Policy Rules in the Pre-Emu Era : Is There a Common Rule?
Eleftheriou, Maria - 2006
Despite the great importance and final success of the convergence process that led to the establishment of the European Monetary Union, there is no clear agreement regarding the monetary policy pursued in the member countries during the convergence process. This paper contributes to the...
Persistent link: https://www.econbiz.de/10012779824
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Central Bank Misperceptions and the Role of Money in Interest Rate Rules
Beck, Günter W. - 2008
Research with Keynesian-style models has emphasized the importance of the output gap for policies aimed at controlling inflation while declaring monetary aggregates largely irrelevant. Critics, however, have argued that these models need to be modified to account for observed money growth and...
Persistent link: https://www.econbiz.de/10012768875
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Forecasting ECB Monetary Policy : Accuracy is (Still) a Matter of Geography
Ehrmann, Michael; Fratzscher, Marcel; Berger, Helge - 2021
and to anticipate monetary policy by the ECB? Using a database of surveys of professional ECB policy forecasters in 24 …
Persistent link: https://www.econbiz.de/10013318108