broadly echoes policy makers’ concerns about bank disintermediation and financial stability risks, it also provides conditions …

broadly echoes policy makers' concerns about bank disintermediation and financial stability risks, it also provides conditions …

both bank and country-level data. As outright bank failures have been rare in Europe, the paper introduces a novel dataset … are that complementing bank specific vulnerabilities with indicators for macro-financial imbalances and banking sector … vulnerabilities improves model performance and yields useful out-of-sample predictions of bank distress during the current financial …

information, greater 'openness' (i.e. more information) need not always enhance the 'clarity' of central bank communication. In … central bank and its audience. …

This paper assumes that a central bank commits itself to maintaining an inflation target and then asks what measure of … the inflation rate the central bank should use if it wants to maximize economic stability. The paper first formalizes this … that the central bank should use a price index that gives substantial weight to the level of nominal wages. …

This paper explores the role of central bank capital in ensuring that central banks focus on price stability in … comprehensive, model of the relationship between a central bank's balance sheet structure and its inflation performance. The first …&L) of a central bank always remains positive, despite adverse shocks, assuming a stability oriented monetary policy. The …

“Forecast targeting,” forward-looking monetary policy that uses central-bank judgment to construct optimal policy …, including the central bank’s judgment. It cannot be summarized as a simple reaction function such as a Taylor rule. Fortunately …