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Inflation Targeting and Communication
Smídková, Katerina - 2008
methodology for the empirical evaluation of consistency in central bank communication. We find that the three communication tools …
Persistent link: https://www.econbiz.de/10012677665
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Writing Clearly : ECB's Monetary Policy Communication
Cihak, Martin - 2008
The paper presents a methodology for measuring the clarity of central bank communication, illustrating it with the case … of the European Central Bank (ECB) in 1999-2007. The analysis identifies the ECB's written communication as clear about … available. We also find that the additional information contained in the ECB's Monthly Bulletins helps to improve communication …
Persistent link: https://www.econbiz.de/10014409073
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Monetary Policy Coordination and the Role of Central Banks
Mohan, Rakesh; Kapur, Muneesh - International Monetary Fund (IMF) - 2014
The unconventional monetary policies (UMPs) pursued by the advanced economies (AEs) have posed macroeconomic challenges for the emerging market economies (EMEs) through volatile capital flows and exchange rates. AE central banks need to acknowledge and appreciate the spillovers resulting from...
Persistent link: https://www.econbiz.de/10010790334
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Platform Precommitment via Decentralization
Reuter, Marco - 2024
I study an entrepreneur's incentives to build a decentralized platform using a blockchain. The entrepreneur can either build the platform using a regular company and retain control of the platform, or build the platform using a blockchain and surrender control of the platform. In either case,...
Persistent link: https://www.econbiz.de/10015058696
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Macrofinancial modeling at central banks : recent developments and future directions
Roger, Scott; Vlček, Jan - 2012
This paper surveys dynamic stochastic general equilibrium models with financial frictions in use by central banks and discusses priorities for future development of such models for the purpose of monetary and financial stability analysis. It highlights the need to develop macrofinancial models...
Persistent link: https://www.econbiz.de/10009423918
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Peru : monetary and exchange rate policies, 1930 – 1980
Pastor, Gonzalo - 2012
This paper reviews monetary and exchange rate policies in Peru in 1930-80. The review covers major transformations to the world economy, including the post-1929 crash and WWII, and changing economic paradigms, such as the collapse of the gold standard and the rise and fall of the Bretton Woods...
Persistent link: https://www.econbiz.de/10009618509
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Monetization in low- and middle-income countries
McLoughlin, Cameron; Kinoshita, Noriaki - 2012
The degree of an economy's monetization, which has an important implication on economic growth, can be affected by the conduct of monetary policy, financial sector reform, and episodes of financial crises. The paper finds that monetization--measured by the ratio of broad money to nominal GDP--...
Persistent link: https://www.econbiz.de/10009618525
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Policy analysis and forecasting in the world economy : a panel unobserved components approach
Vitek, Francis - 2012
This paper develops a structural macroeconometric model of the world economy, disaggregated into thirty five national economies. This panel unobserved components model features a monetary transmission mechanism, a fiscal transmission mechanism, and extensive macrofinancial linkages, both within...
Persistent link: https://www.econbiz.de/10009618572
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How effective is monetary transmission in low-income countries? : a survey of the empirical evidence
Mishra, Prachi; Montiel, Peter - 2012
This paper surveys the evidence on the effectiveness of monetary transmission in low-income countries. It is hard to come away from this review with much confidence in the strength of monetary transmission in such countries. We distinguish between the ""facts on the ground"" and ""methodological...
Persistent link: https://www.econbiz.de/10009618588
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What drives the POLONIA spread in Poland?
Lu, Yinqiu - 2012
Since the start of the 2008 - 09 financial crisis, the Polish Overnight Index Average (POLONIA) has persistently been below the policy rate, suggesting a limited influence of the NBP's open market operations on the short-term interbank rate. In this regard, this paper analyzes the behavior of...
Persistent link: https://www.econbiz.de/10009621633