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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
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QE in the euro area : has the PSPP benefited peripheral bonds?
Belke, Ansgar; Gros, Daniel - 2019
The asset purchase programme of the euro area, active between 2015 and 2018, constitutes an interesting special case of Quantitative Easing (QE) because the ECB’s Public Sector Purchase Programme (PSPP) involved the purchase of peripheral euro area government bonds, which were clearly not...
Persistent link: https://www.econbiz.de/10011994801
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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
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Interest rate bands of inaction and play-hysteresis in domestic investment : evidence for the euro area
Belke, Ansgar; Frenzel Baudisch, Coletta; Göcke, Matthias - 2019
unterscheiden. Dies stellt eine Herausforderung für eine gemeinsame Geldpolitik dar. Hingegen verändert die Berücksichtigung von …
Persistent link: https://www.econbiz.de/10012034406