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Foreign exchange market interventions as monetary policy
Post, Erik - 2006
Least Squares and an Ordered Probit model. The empirical analysis uses daily intervention data for Australia, Japan and …
Persistent link: https://www.econbiz.de/10010321630
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Negative interest rates, capital flows and exchange rates
Ruprecht, Romina - 2020
This paper develops a dynamic general equilibrium model with two currencies to study the effect of negative interest rates on domestic money demand and exchange rates. Money demand for a currency depends on the relative ratio of the money market rate and the deposit rate of the central bank. If...
Persistent link: https://www.econbiz.de/10012244611
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Monetary policy under alternative exchange rate regimes in Central and Eastern Europe
Ziegler, Christina - 2012
Monetary policy in CEE is an important determinant in the wage bargaining process, because trade unions have to predict inflation as one component of future real wages. This paper scrutinizes whether countries in CEE that officially announce an inflation target are tempted to act...
Persistent link: https://www.econbiz.de/10010308235
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Economic policy in India: For economic stimulus, or for austerity and volatility?
Sen, Sunanda; DasGupta, Zico - 2014
The implementation of economic reforms under new economic policies in India was associated with a paradigmatic shift in monetary and fiscal policy. While monetary policies were solely aimed at "price stability" in the neoliberal regime, fiscal policies were characterized by the objective of...
Persistent link: https://www.econbiz.de/10010513081
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Narrative monetary policy surprises and the media
Larsen, Vegard Høghaug; Thorsrud, Leif Anders - 2019
communication accompanying interest rate meetings. Our proposed method is fast and simple, and relies on a Singular Value … surprises in central bank communication using this type of data and identification provides surprise measures that are … monetary policy literature associates with the information component of monetary policy communication. Our study highlights the …
Persistent link: https://www.econbiz.de/10012661551
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The Mystique of Central Bank Speak
Geraats, Petra M. - 2006
to create the perception of opacity. The optimal communication strategy for the central bank is to provide clarity about …
Persistent link: https://www.econbiz.de/10013370040
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Monetary policy communication: Evidence from Survey Data
Popovska-Kamnar, Neda - 2017
This paper summarizes the results of a Survey on Monetary policy Communication conducted among central banks in Central … transparency and communication strategies of the central banks. The results of the Survey reveal that today the central banks pay … process. The overall conclusion of the Monetary policy communication Survey is that the communication and the transparency of …
Persistent link: https://www.econbiz.de/10011785370
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Exchange rate floor and central bank balance sheets: Simple spillover tests of the Swiss franc
Alvero, Adrien; Fischer, Andreas M. - 2016
This paper examines spillover and spillback effects of unconventional monetary policies conducted by the European Central Bank (ECB) and Swiss National Bank (SNB) on the exchange rate's distribution. The empirical setup examines the price response of EURCHF risk reversal to a change in ECB and...
Persistent link: https://www.econbiz.de/10011629991
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Asymmetric exchange rate policy in inflation targeting developing countries
Benlialper, Ahmet; Cömert, Hasan; Öcal, Nadir - 2017
In the last decades, many developing countries abandoned their existing policy regimes and adopted inflation targeting (IT) by which they aimed to control inflation through the use of policy interest rates. During the period before the crisis, most of these countries experienced large...
Persistent link: https://www.econbiz.de/10011636631
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The Swiss franc's honeymoon
Janssen, Alexandra; Studer, Rahel - 2017
Starting from the stylized fact that the Swiss franc is a safe haven currency, this paper focuses on the determinants of the Swiss franc during the lower bound regime from September 2011 to January 2015. We describe the Swiss franc as a function of global market risk fundamentals and find that...
Persistent link: https://www.econbiz.de/10011663165