What happens if the government's willingness to stabilize a large stock of debt is waning, while the central bank is … in which the central bank becomes constrained by the zero lower bound. …

Central bank credit has expanded dramatically since the beginning of 2007 in some of the euro area member countries … an independent monetary policy. We find that inflation was the main determinant of central bank credit prior to 2007 …

This paper studies the monetary policy of the Federal Reserve (Fed) and the Bundesbank / European Central Bank (ECB …

impact of monetary policies. This practice is discussed on the Federal Reserve Bank of New York website, for example, where …

-inconsistent behavior in central bank interest rate setting is modeled by several Taylor rules. An empirical application provides evidence …

encountering the zero lower bound, in.ation tends to remain persistently below the central bank's target, even if monetary policy … interest rate falls. An asymmetric rule according to which the central bank accepts longer periods of in.ation above target …

With the global crisis, the policy stance around the world has been shaken by massive government and central bank … financed by the monopoly supply of central bank credit. Fiscal deficits can thus be considered functional to the objective of … bank credit, thus introducing national solvency risks. This is a crucial flaw in the institutional structure of Euroland …