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Monetary dialogue 2009 - 2014 : looking backward, looking forward

Belke, Ansgar - 2014

regarding its focus range, to make it even more effective. In our view, the transparency/accountability issue represented by a … optimal degree of ECB transparency and accountability towards the EP, the key democratic institution. … gegenwärtig stark verändernden Geldpolitik. Die Diskussion wird geführt im Hinblick auf die Verwendung eines Zinsausblicks …

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

Central bank communication : managing expectations through the monetary dialogue

Belke, Ansgar - 2017

, coordinated messages that are anchored in the central banks' mandate are essential. We focus upon transparency and "forward … effectiveness of central bank’s policies can be improved through more transparency and "forward guidance". We do so by highlighting … Kontext einer sich entwickelnden neuen unkonventionellen Geldpolitik. Kommunikation wird als eine geldpolitische Politikoption …

Persistent link: https://www.econbiz.de/10011644116

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

Forecasting ECB policy rates with different monetary policy rules

Belke, Ansgar; Klose, Jens - 2019

This article compares two types of monetary policy rules - the Taylor-Rule and the Orphanides-Rule - with respect to their forecasting properties for the policy rates of the European Central Bank. In this respect the basic rules, results from estimated models and augmented rules are compared....

Persistent link: https://www.econbiz.de/10012034314

Non-standard monetary policy measures : magic wand or tiger by the tail?

Belke, Ansgar - 2013

can be improved through more transparency and “forward guidance”. …

Persistent link: https://www.econbiz.de/10010195538

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

European monetary policy and the ECB rotation model voting power of the core versus the periphery

Belke, Ansgar; Schnurbein, Barbara von - 2010

We analyze the ECB Governing Council’s voting procedures. The literature has by now discussed numerous aspects of the rotation model but does not account for many institutional aspects of the voting procedure of the GC. Using the randomization scheme based on the multilinear extension (MLE) of...

Persistent link: https://www.econbiz.de/10003950863

(When) should a non-euro country join the banking union?

Belke, Ansgar; Dobrza´nska, Anna; Gros, Daniel; Smaga, … - 2016

We analyze the benefits and costs of a non-euro country opting-in to the banking union. The decision to opt-in depends on the comparison between the assessment of the banking union attractiveness and the robustness of a national safety net. The benefits of opting-in are still only potential and...

Persistent link: https://www.econbiz.de/10011446695

From cash to central bank digital currencies and cryptocurrencies : a balancing act between modernity and monetary stability

Belke, Ansgar; Beretta, Edoardo - 2019

The paper explores the precarious balance between modernizing monetary systems by means of digital currencies (either issued by the central bank itself or independently) and safeguarding financial stability as also ensured by tangible payment (and saving) instruments like paper money. Which...

Persistent link: https://www.econbiz.de/10012034364