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Central banks : from overburdening to decline?

Issing, Otmar - 2016

"Institutional Overburdening" to a large extent was a consequence of the "Great Moderation". This term indicates that it was a period in which inflation had come down from rather high levels. Growth and employment were at least satisfying and variability of output had substantially declined. It...

Persistent link: https://www.econbiz.de/10011540869

EZB ; Europäische Zentralbank ; Geldpolitik

Issing, Otmar - 2020

This Policy White Paper assesses several main elements of ECB's upcoming review of its monetary policy strategy, announced in January 2020. Four aspects of the review are discussed in detail: i) ECB's definition of price stability and the arguments for and against inflation targeting; ii) the...

Persistent link: https://www.econbiz.de/10012223712

Forward guidance : a new challenge for central banks ; [contribution to the Athens Symposium "Banking Union, Monetary Policy and Economic Growth" Athens, 19 June 2014]

Issing, Otmar - 2014

In a contribution prepared for the Athens Symposium on “Banking Union, Monetary Policy and Economic Growth”, Otmar Issing describes forward guidance by central banks as the culmination of the idea of guiding expectations by pure communication. In practice, he argues, forward guidance has...

Persistent link: https://www.econbiz.de/10010366280

Robustness, validity, and significance of the ECB's asset quality review and stress test exercise

Steffen, Sascha - 2014

As we are moving toward a eurozone banking union, the European Central Bank (ECB) is going to take over the regulatory oversight of 128 banks in November 2014. To that end, the ECB conducted a comprehensive assessment of these banks, which included an asset quality review (AQR) and a stress...

Persistent link: https://www.econbiz.de/10010425030

Challenges for monetary policy

Issing, Otmar - 2013

The financial crisis which started in 2007 has caused a tremendous challenge for monetary policy. The simple concept of inflation targeting has lost its position as state of the art. There is a debate on whether the mandate of a central bank should not be widened. And, indeed, monetary policy...

Persistent link: https://www.econbiz.de/10010225328

Wie ist das EU-Konzept zur Bankenunion zu bewerten?

Lautenschläger, Sabine; Gstädtner, Thomas; Steffen, Sascha - In: Ifo Schnelldienst 66 (2013) 01, pp. 03-13

Mit den Beschlüssen zur europäischen Regulierung im Dezember 2012 hat die EU einen Schritt in Richtung Bankenunion gemacht. Nach Ansicht von Sabine Lautenschläger, Deutsche Bundesbank, braucht Europa Zeit, um eine europäische Bankenaufsicht und einen europäischen Abwicklungsmechanismus auf...

Persistent link: https://www.econbiz.de/10010877400

Monetary policy and balance sheet adjustment

Issing, Otmar - 2014

In the wake of the Global Financial Crisis that started in 2007, policymakers were forced to respond quickly and forcefully to a recession caused not by short-term factors, but rather by an over-accumulation of debt by sovereigns, banks, and households: a so-called "balance sheet recession."...

Persistent link: https://www.econbiz.de/10010362902

Wohin steuert die Europäische Währungsunion?

Issing, Otmar - In: Ifo Schnelldienst 66 (2013) 13, pp. 12-16

Vortrag von Prof. Dr. Dr. h.c. mult.Otmar Issing, Präsident des Center for Financial Studies, Goethe-Universität Frankfurt

Persistent link: https://www.econbiz.de/10010877500

ifo Konjunkturprognose 2003/2004: Erholung erst im nächsten Jahr

Nierhaus, Wolfgang; Hahn, Elke; Kuntze, Oscar-Erich; … - In: Ifo Schnelldienst 56 (2003) 13, pp. 13-38

fallen nach und nach weg; die überall deutlich expansive Geldpolitik kann damit ihre stimulierende Wirkung stärker entfalten …

Persistent link: https://www.econbiz.de/10005013285

Finanz- und Geldpolitik - Vernichten sie Arbeitsplätze?

Nerb, Gernot; Langmantel, Erich; Juchems, Alexander - In: Ifo Schnelldienst 47 (1994) 16-17, pp. 20-27

Der Bericht analysiert den Zusammenhang zwischen Finanz- und Geldpolitik im Hinblick auf die Schaffung oder Vernichtung … Arbeitsteilung zwischen Fiskal- und Geldpolitik, der Keynessche Ansatz der Steuerung der Gesamtnachfrage sowie die Geldpolitik mit … restriktiver Geldpolitik und andererseits von moderater Lohnentwicklung und wachsendem BIP ausgegangen wird. Die Auswirkungen der …

Persistent link: https://www.econbiz.de/10005056118