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Monetary policy and capital regulation in the US and Europe
Cohen-Cole, Ethan; Morse, Jonathan - 2010
From the onset of the 2007-2009 crisis, the Federal Reserve and the European Central Bank have aggressively lowered … interest rates. Both sets of changes are at odds with an anti-inflationary stance of monetary policy; indeed, as the crisis … Taylor rules for our economy that are consistent with a strong pro-inflationary reaction during financial crisis while …
Persistent link: https://www.econbiz.de/10011605268
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Financial reputation, market interventions and debt issuance by banks: a truncated two-part model approach
Camba-Méndez, Gonzalo; Carbó-Valverde, Santiago; … - 2014
financial crisis, but had a negligible impact on uncollateralised debt issuance decisions. …
Persistent link: https://www.econbiz.de/10011605786
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The first twenty years of the European Central Bank: Monetary policy
Hartmann, Philipp; Smets, Frank - 2018
On 1 June 2018 the ECB celebrated its 20th anniversary. This paper provides a comprehensive view of the ECB's monetary policy over these two decades. The first section provides a chronological account of the macroeconomic and monetary policy developments in the euro area since the adoption of...
Persistent link: https://www.econbiz.de/10012142063
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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
Does the general public know what central banks do? Is this kind of knowledge relevant? Using a survey of Dutch 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...
Persistent link: https://www.econbiz.de/10011605311
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The (ir)relevance of the nominal lower bound for real yield curve analysis
Schupp, Fabian - 2020
I propose a new term structure model for euro area real and nominal interest rates which explicitly incorporates a time-varying lower bound for nominal interest rates. Results suggest that the lower bound is of importance in structural analyses implying time-varying impulse responses of yield...
Persistent link: https://www.econbiz.de/10012422138
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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 - 2011
Does the general public know what central banks do? Is this kind of knowledge relevant? Using a survey of Dutch 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...
Persistent link: https://www.econbiz.de/10013132595
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Forecasting Euro Area Inflation Using Targeted Predictors : Is Money Coming Back?
Falagiarda, Matteo - 2017
This paper sheds new light on the information content of monetary and credit aggregates for future price developments in the euro area. Overall, we find strong variation in the information content of these variables over time. We show that monetary and credit aggregates are very often selected...
Persistent link: https://www.econbiz.de/10012963628
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Unconventional Monetary Policy and the Anchoring of Inflation Expectations
Ciccarelli, Matteo - 2017
The effects of the unconventional monetary policy (UMP) measures undertaken by the U.S. Federal Reserve (and other major central banks) remain a crucial topic for research. This paper investigates their effects on the anchoring of long-term inflation expectations, a key dimension of UMP that has...
Persistent link: https://www.econbiz.de/10012963931
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Trust in the Central Bank and Inflation Expectation
Christelis, Dimitris - 2020
Using micro data from the 2015 Dutch CentERpanel, we examine whether trust in the European Central Bank (ECB) influences individuals' expectations and uncertainty about future inflation, and whether it anchors inflation expectations. We find that higher trust in the ECB lowers inflation...
Persistent link: https://www.econbiz.de/10012841204
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Inflation Trends in Asia : Implications for Central Banks
Garcia, Juan A. - 2019
Trend inflation estimates for 12 of the largest Asian economies over 1995-2018 offer important insights on inflation dynamics and inflation expectations. The disinflationary shocks that hit the region since 2014 were partly transitory, but their effects have been different depending on the...
Persistent link: https://www.econbiz.de/10012858259