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Monetary policy, global liquidity and commodity price dynamics

Belke, Ansgar; Bordon, Ingo G.; Hendricks, Torben - 2010

This paper examines the interactions between money, interest rates, goods and commodity prices at a global level. For this purpose, we aggregate data for major OECD countries and follow the Johansen/Juselius cointegrated VAR approach. Our empirical model supports the view that, when controlling...

Persistent link: https://www.econbiz.de/10003931399

Still puzzling : evaluating the price puzzle in an empirically identified structural vector autoregression

Demiralp, Selva; Hoover, Kevin D.; Perez, Stephen J. - In: Empirical economics : a journal of the Institute for … 46 (2014) 2, pp. 701-731

Persistent link: https://www.econbiz.de/10010252755

Monetary dialogue 2009 - 2014 : looking backward, looking forward

Belke, Ansgar - 2014

gegenwärtig stark verändernden Geldpolitik. Die Diskussion wird geführt im Hinblick auf die Verwendung eines Zinsausblicks … Geldpolitik der EZB. …

Persistent link: https://www.econbiz.de/10010259542

Exit strategies and their impact on the Euro area : a model based view

Belke, Ansgar - 2014

Dieser Beitrag untersucht die Argumente für und gegen einen Ausstieg aus der expansiven Geldpolitik. Der Fokus liegt …

Persistent link: https://www.econbiz.de/10010227698

A more effective euro area monetary policy than OMTs : gold-backed sovereign debt

Belke, Ansgar - 2013

This paper argues that using gold as collateral for highly distressed bonds would bring great benefits to the euro area in terms of reduced financing costs and bridge-financing. It is mindful of the legal issues that this will raise and that such a suggestion will be highly controversial....

Persistent link: https://www.econbiz.de/10009771146

Monetary policy, stock prices and central banks cross-country comparisons of cointegrated VAR models

Belke, Ansgar; Wiedmann, Marcel - 2013

In this paper, we analyze the long-run behavior and short-run dynamics of stock markets across some selected developed and emerging economies – namely the United States, the Euro Area, Japan, the United Kingdom, Australia, South Korea, Thailand and Brazil – in the Cointegrated...

Persistent link: https://www.econbiz.de/10009779040

Finance access of SMEs : what role for the ECB?

Belke, Ansgar - 2013

Small and medium size enterprises (SMEs) of southern euro-area economies (e.g. Italy, Spain) pay significantly higher borrowing rates than their peers of the core (e.g. Germany, France) and this divergence is widening. It is argued that severe market failures prevent SMEs in southern euro area...

Persistent link: https://www.econbiz.de/10009779172

Driven by the markets? : ECB sovereign bond purchases and the securities markets programme

Belke, Ansgar - 2010

Analysten äußern Bedenken, dass durch die Anleihenkäufe von nun an die Geldpolitik von den nationalen Fiskalpolitiken dominiert …

Persistent link: https://www.econbiz.de/10008933298

The credibility of monetary policy announcements : empirical evidence for OECD countries since the 1960s

Belke, Ansgar; Freytag, Andreas; Keil, Jonas; … - 2012

Diese Arbeit untersucht den Einfluss der Glaubwürdigkeit von Geldpolitik auf die Preisstabilität. Eine regelgebundene … Geldpolitik wird häufig als ein wichtiges Instrument zur Erreichung von Preisstabilität angesehen. In empirischen Studien ist der … Zusammenhang zwischen einer regelgebundenen Geldpolitik und der Inflation jedoch häufig nur relativ schwach ausgeprägt. In der …

Persistent link: https://www.econbiz.de/10009580097

Does the ECB rely on a Taylor rule? : comparing ex-post with real time data

Belke, Ansgar; Klose, Jens - 2009

We assess the differences that emerge in Taylor rule estimations for the ECB when using ex-post data instead of real time forecasts and vice versa.We argue that previous comparative studies in this field mixed up two separate effects. First, the differences resulting from the use of ex-post and...

Persistent link: https://www.econbiz.de/10003877669