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The role of central bank capital revisited
Bindseil, Ulrich; Manzanares, Andrés; Weller, Benedict - 2004
comprehensive, model of the relationship between a central bank's balance sheet structure and its inflation performance. The first …
Persistent link: https://www.econbiz.de/10011604438
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The role of IMF conditionality for central bank independence
Kern, Andreas; Reinsberg, Bernhard; Rau-Goehring, Matthias - 2020
This paper studies the role of the International Monetary Fund (IMF) in promoting central bank independence (CBI). While anecdotal evidence suggests that the IMF has been playing a vital role for CBI, the underlying mechanisms of this influence are not well understood. We argue that the IMF has...
Persistent link: https://www.econbiz.de/10012422126
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Transforming "sympathetic interlocutors" into veto players
Reinsberg, Bernhard; Kern, Andreas; Rau-Goehring, Matthias - 2021
International organizations (IOs) often drive policy change in member countries. Given IOs' limited political leverage over a member country, previous research argues that IOs rely on a combination of hard pressures (i.e., conditionality) and soft pressures (i.e., socialization) to attain their...
Persistent link: https://www.econbiz.de/10012422180
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Ideology and monetary policy: The role of political parties' stances in the ECB's parliamentary hearings
Fraccaroli, Nicolò; Giovannini, Alessandro; Jamet, … - 2022
We investigate whether ideology drives the sentiments of parliamentarians when they speak to the central bank they hold accountable. To this end, we collect textual data on the quarterly hearings of the ECB President before the European Parliament from 1999 to 2019. We apply sentiment analysis...
Persistent link: https://www.econbiz.de/10013272146
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The Role of IMF Conditionality for Central Bank Independence
Kern, Andreas - 2020
This paper studies the role of the International Monetary Fund (IMF) in promoting central bank independence (CBI). While anecdotal evidence suggests that the IMF has been playing a vital role for CBI, the underlying mechanisms of this influence are not well understood. We argue that the IMF has...
Persistent link: https://www.econbiz.de/10012824247
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The Economics of Central Bank Digital Currency
Ahnert, Toni; Assenmacher, Katrin; Hoffmann, Peter; … - 2022
This paper provides a structured overview of the burgeoning literature on the economics of CBDC. We document the economic forces that shape the rise of digital money and review motives for the issuance of CBDC. We then study the implications for the financial system and discuss of a number of...
Persistent link: https://www.econbiz.de/10013403003
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Does product market competition reduce inflation? Evidence from EU countries and sectors
Przybyla, Marcin; Roma, Moreno - 2005
In this paper we explore the link between the intensity of product market competition and inflation rates across EU … countries and sectors. We consider long-term averages of inflation rates in order to remove the cyclical behavior of inflation … product market competition, as proxied by the level of mark-up in particular, is an important driver of inflation …
Persistent link: https://www.econbiz.de/10011604499
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Time or state dependent price setting rules? Evidence from Portuguese micro data
Dias, Daniel; Robalo Marques, Carlos; Santos Silva, … - 2005
setting behaviour of Portuguese firms. Inflation, the level of economic activity and the magnitude of the last price change …
Persistent link: https://www.econbiz.de/10011604557
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Global inflation
Ciccarelli, Matteo; Mojon, Benoît - 2005
This paper shows that inflation in industrialized countries is largely a global phenomenon. First, inflations of (22 … associated to Global Inflation is not only due to the trend components of inflation (up from 1960 to 1980 and down thereafter …) but also to fluctuations at business cycle frequencies. Second, Global Inflation is, consistently with standard models of …
Persistent link: https://www.econbiz.de/10011604583
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Excess money growth and inflation dynamics
Roffia, Barbara; Zaghini, Andrea - 2007
The paper analyses the short-run impact of periods of strong monetary growth on inflation dynamics for 15 …
Persistent link: https://www.econbiz.de/10011604795