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Monetary Policy Pass-Through to Interest Rates: Stylized Facts from 30 European Countries
Beyer, Robert - 2024
The extent to which changes in monetary policy rates lead to changes in loan and deposit rates for households and firms, referred to as 'pass-through', is an important ingredient of monetary policy transmission to output and prices. Using data on seven different bank interest rates in 30...
Persistent link: https://www.econbiz.de/10015058763
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Measures of Underlying Inflation in the Euro Area : Assessment and Role for Informing Monetary Policy
Stavrev, Emil - 2006
Intro -- Contents -- I. INTRODUCTION -- II. TAXONOMY OF UNDERLYING INFLATION INDICATORS -- III. FEATURES OF THE …
Persistent link: https://www.econbiz.de/10012690993
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The Information Content of Money in Forecasting Euro Area Inflation
Stavrev, Emil - 2008
money in forecasting euro-area inflation. We compare the predictive performance within and among various classes of … contains relevant information for inflation in some model classes. Money-based New Keynesian DSGE models and VARs incorporating …
Persistent link: https://www.econbiz.de/10012677626
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Structural Reforms in the Euro Area : Economic Impact and Role of Synchronization Across Markets and Countries
Schule, Werner - 2006
Persistent link: https://www.econbiz.de/10012691025
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Euro Area Monetary Policy in Uncharted Waters
Stavrev, Emil - 2009
We analyze the European Central Bank's (ECB's) response to the global financial crisis. Our results suggest that even during the crisis, the core part of ECB's monetary policy transmission-from policy rates to market rates-has continued to operate, but at a decreased efficiency. We also find...
Persistent link: https://www.econbiz.de/10012677859
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Writing Clearly : ECB's Monetary Policy Communication
Cihak, Martin - 2008
inflation factors and the overall forecast risk; in contrast, the bulletin's communication on monetary shocks has a negative …
Persistent link: https://www.econbiz.de/10014409073
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Navigating the Well-Being Effects of Monetary Policy: Evidence from the Euro Area
El Herradi, Mehdi - 2023
Central banks have recently adjusted their communication strategies to enhance engagement with the general public, yet there is limited understanding of public sentiment regarding monetary policy announcements. This paper investigates whether monetary policy announcements influence household...
Persistent link: https://www.econbiz.de/10015058896
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ECB Euro Liquidity Lines
Albrizio, Silvia - 2023
Central bank liquidity lines have gained momentum since the global financial crisis as a crosscurrency liquidity management tool. We provide a complete timeline of the ECB liquidity line announcements and study their signalling and spillback effects. The announcement of an ECB euro liquidity...
Persistent link: https://www.econbiz.de/10015059508
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U.S. and Euro Area Monetary and Fiscal Interactions During the Pandemic: A Structural Analysis
Hodge, Andrew - 2022
"below, but close to 2 percent" to a formal symmetric inflation targeting regime in the euro area or from flexible to average … inflation targeting in the U.S. is shown to boost output and inflation in both regions. Meanwhile, the fiscal packages approved … output and inflation as changing the monetary policy frameworks . Simultaneously implementing these policies is mutually …
Persistent link: https://www.econbiz.de/10015060056
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The ECB's Future Monetary Policy Operational Framework: Corridor or Floor?
Brandão-Marques, Luis - 2024
This paper reviews the trade-offs involved in the choice of the ECB's monetary policy operational framework. As long as the ECB's supply of reserves remains well in excess of the banks' demand, the ECB will likely continue to employ a floor system for implementing the target interest rate in...
Persistent link: https://www.econbiz.de/10015058579