substantially more effective if they deviate from the prevalent policy "mantra". They also tend to reduce market volatility whereas … the stance and direction of monetary policy as well as the occurrence of actual interventions. This suggests that oral … interventions might constitute, on a short-term basis, an effective and largely autonomous policy tool. …

eventstudy approach. Both the time-series approach based on option contracts and the event-study methodology yield compelling …

currencies since the 1970s. Using an event-study approach, the paper finds evidence that the G7 has been overall effective in … degree endogenous to the policy process itself. The findings indicate that the reputation and credibility of the G7, as well …

Bundesbank monetary policy strategy contributed to this success. We analyze the strategy as it was conceived, communicated and … policy over the period 1975-1998. We compare the Bundesbank's monetary policy rule with those of the FED and of the Bank of … England. We find that the Bundesbank's policy reaction function was characterized by strong persistence of policy rates as …

We investigate the impact of expectations about future climate policy on investment decisions of fossil fuel firms. Our …

this pattern and tests them in a natural experiment from Germany. The first hypothesis is that fiscal redistribution … away from less distortionary tax instruments, despite their superior efficiency properties; the third is that distortionary …

to study contagion potential of an exogenous default shock via counterparty credit and funding risks. We construct …