Narrow search
Showing 1 - 10 of 2,213
Cover Image
Anticipation and Surprises in Central Bank Interest Rate Policy : The Case of the Bundesbank
International Monetary Fund - 1998
Market reaction to a change in official interest rates will depend on the extent to which the change is anticipated, and on how it is interpreted as a signal of future policy. In this paper, a technique is developed to separate the anticipated and unanticipated components of such changes and is...
Persistent link: https://www.econbiz.de/10014400820
Cover Image
Lessons for monetary policy : what should the consensus be?
Issing, Otmar - 2011
Persistent link: https://www.econbiz.de/10009486309
Cover Image
The Design of EMU
Begg, David K. H. - 1997
Pursuit of price stability may, but need not, exacerbate output fluctuations. This paper discusses the monetary strategy of the European Central Bank, the intermediate targets that this should entail, and implications for accountability, transparency, and reputation. Country-specific shocks will...
Persistent link: https://www.econbiz.de/10014403347
Cover Image
The ECB'S Money Pillar : An Assessment
Jaeger, Albert - 2003
This paper discusses the case for a money pillar in the European Central Bank''s (ECB) monetary policy strategy. Time-series evidence for industrial countries based on frequency-domain and unobserved-components analysis suggests that money can play a useful role in gauging and constraining...
Persistent link: https://www.econbiz.de/10014403843
Cover Image
Bank lobbying : regulatory capture and beyond
Igan, Deniz; Lambert, Thomas - 2019
In this paper, we discuss whether and how bank lobbying can lead to regulatory capture and have real consequences … through an overview of the motivations behind bank lobbying and of recent empirical evidence on the subject. Overall, the … interpreted as a call for an outright ban of lobbying, they point in the direction of a need for rethinking the framework …
Persistent link: https://www.econbiz.de/10012103556
Cover Image
Distributional effects of monetary policy
Bonifacio, Valentina; Brandao Marques, Luis; Budina, Nina; … - 2021
As central banks across the globe have responded to the COVID-19 shock by rounds of extensive monetary loosening, concerns about their inequality impact have grown. But rising inequality has multiple causes and its relationship with monetary policy is complex. This paper highlights the channels...
Persistent link: https://www.econbiz.de/10012605530
Cover Image
Monetary policy frameworks : an index and new evidence
Unsal, D. Filiz; Papageorgiou, Chris; Garbers, Hendre - 2022
We provide a multidimensional characterization of monetary policy frameworks across three pillars: Independence and Accountability, Policy and Operational Strategy, and Communications (IAPOC). We construct the IAPOC index by analyzing central banks' laws and websites for 50 advanced economies,...
Persistent link: https://www.econbiz.de/10013170321
Cover Image
Following Germany'S Lead : Using International Monetary Linkages to Identify the Effect of Monetary Policyon the Economy
International Monetary Fund - 2005
-looking monetary policy decisions. The bias is higher for countries whose monetary policy was more independent of Germany …
Persistent link: https://www.econbiz.de/10014400699
Cover Image
EMU and Long Interest Rates in Germany
Zettelmeyer, Jeromin - 1996
The presence of an “EMU premium” in German long rates is tested by examining the co-movement of German and other European yields, as well as the exchange rate of the private ECU, in reaction to EMU-related events. If German yields incorporate an “EMU premium” while other European...
Persistent link: https://www.econbiz.de/10014397813
Cover Image
Market Information and Signaling in Central Bank Operations, Or, How often Should a Central Bank Intervene?
International Monetary Fund - 1997
A central bank must decide on the frequency with which it will conduct open market operations and the variability in short-term money market that it will allow. It is shown how the optimal operating procedure balances the value of attaining an immediate target and broadcasting the central...
Persistent link: https://www.econbiz.de/10014400555