Narrow search
Showing 1 - 10 of 105
Cover Image
Geldpolitik und Vermögensmärkte
Dreger, Christian; Wolters, Jürgen - In: Vierteljahrshefte zur Wirtschaftsforschung 78 (2009) 1, pp. 56-65
. Andererseits wäre im Fall steigender Vermögenspreise eine restriktivere Geldpolitik erforderlich, die die Dynamik von Produktion … die USA, den Euroraum, Japan und Großbritannien spezifiziert. Während die Geldpolitik keinen Einfluss auf die Entwicklung … eine restriktivere Geldpolitik bei nicht fundamental begründeten Preissteigerungen tatsächlich dämpfend auf die Entwicklung …
Persistent link: https://www.econbiz.de/10010377866
Cover Image
Central Bank Instruments, Fiscal Policy Regimes, and the Requirements for Equilibrium Determinacy
Schabert, Andreas - 2006
This paper examines the role of the monetary instrument choice for local equilibrium determinacy under sticky prices and different fiscal policy regimes. Corresponding to Benhabib et al.'s (2001) results for interest rate feedback rules, the money growth rate should not rise by more than one for...
Persistent link: https://www.econbiz.de/10010325633
Cover Image
Committee Structure and its Implications for Monetary Policy Decision-making
Berk, Jan Marc; Bierut, Beata K. - 2003
We investigate the implications for the setting of interest rateswhen monetary policy decisions are taken by a committee, in whicha subset of members may meet prior to the voting in the committeeand therefore has the possibility to reach consensus ex ante to voteunanimously ex post. We allow for...
Persistent link: https://www.econbiz.de/10010324842
Cover Image
New Economy, Old Central Banks?
Berk, Jan Marc - 2002
Proponents of the so-called New Economy claim that it entails a structural change of the economy. Such a change, in turn, would require the central bank to rethink its monetary policy to the extent that traditional relationships between inf1ation and economic growth are no longer valid. But such...
Persistent link: https://www.econbiz.de/10010325031
Cover Image
The Effects of Learning in Interactive Monetary Policy Committees
Berk, Jan Marc; Bierut, Beata K. - 2004
We develop a theoretical framework for studying the effects of interaction on the quaJity of decision-making by monetary policy committees. We show that interaction, i.e. increasing one's expertise through an exchange of views, is most likely not to result in interdependent voting...
Persistent link: https://www.econbiz.de/10010325323
Cover Image
The Impact of Monetary Policy on Economic Activity - Evidence from a Meta-Analysis
Ridhwan, Masagus M.; de Groot, Henri L.F.; Nijkamp, Peter - 2010
This paper presents the findings a meta-analysis identifying the causes of variation in the impact of monetary policies on economic development. The sample of observations included in our meta-analysis is drawn from primary studies that uniformly employ Vector Autoregressive (VAR) models. Our...
Persistent link: https://www.econbiz.de/10010325708
Cover Image
Modeling Monetary Policy
Reynard, Samuel; Schabert, Andreas - 2009
We develop a macroeconomic framework where money issupplied against only few eligible securities in open marketoperations. The relationship between the policy rate,expected inflation and consumption growth is affected bymoney market conditions, i.e. the varying liquidity value ofeligible assets...
Persistent link: https://www.econbiz.de/10010325945
Cover Image
The Transmission of Monetary Policy through Conventional and Islamic Banks
Zaheer, Sajjad; Ongena, Steven; van Wijnbergen, Sweder - 2012
We investigate the differences in banks' responses to monetary policy shocks across bank size, liquidity, and type, i.e., conventional versus Islamic, in Pakistan between 2002:II to 2010:I. We find that following a monetary contraction, small banks with liquid balance sheets cut their lending...
Persistent link: https://www.econbiz.de/10010326374
Cover Image
Gut geschlagen: Geldpolitik der EZB in der Finanzmarktkrise
Bley, Andreas - In: Vierteljahrshefte zur Wirtschaftsforschung 78 (2009) 1, pp. 66-82
Die EZB hat während der Finanzkrise insgesamt die richtigen Entscheidungen getroffen. Das moderne und flexible geldpolitische Instrumentarium musste im Verlauf der Krise nur wenig angepasst werden, um die Banken ausreichend mit Liquidität zu versorgen. Die Zinspolitik stand bis zum Sommer 2008...
Persistent link: https://www.econbiz.de/10010377870
Cover Image
On the Optimality of Decisions
Berk, Jan Marc; Bierut, Beata - 2004
Most monetary policy committees decide on interest rates using a simple majority voting rule. Given the inherent heterogeneity of committee members, this voting rule is suboptimal in terms of the quality of the interest rate decision, but popular for other (political) reasons. We show that a...
Persistent link: https://www.econbiz.de/10010325243