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Opting out of the Great Inflation : German monetary policy after the break down of Bretton Woods
Beyer, Andreas; Gaspar, Vítor; Gerberding, Christina - 2009
During the turbulent 1970s and 1980s the Bundesbank established an outstanding reputation in the world of central banking. Germany achieved a high degree of domestic stability and provided safe haven for investors in times of turmoil in the international financial system. Eventually the...
Persistent link: https://www.econbiz.de/10003831853
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Discretionary policy, multiple equilibria, and monetary instruments
Schabert, Andreas (contributor) - 2005
This paper examines monetary policy implementation in a sticky price model. The central bank's plan under discretionary optimization is entirely forward-looking and exhibits multiple equilibrium solutions if transactions frictions are not negligibly small. The central bank can then implement...
Persistent link: https://www.econbiz.de/10003162225
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Monetary policy, neutrality and the environment
Faria, João Ricardo; McAdam, Peter; Viscolani, Bruno - 2021
We study the interaction between monetary and fiscal policies in a Ramsey-Sidrauski model augmented with environmental capital. Equilibrium solutions are studied through the "Green Golden Rule". Despite the non-separability of money in utility and intertemporally nonseparable preferences, money...
Persistent link: https://www.econbiz.de/10012594070
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The daily and policy-relevant liquidity effects
Thornton, Daniel L. - 2008
The phrase liquidity effectʺ was introduced by Milton Friedman (1969) to describe the first of three effects on interest rates caused by an exogenous change in the money supply. The lack of empirical support for the liquidity effect using monthly and quarterly data using various monetary and...
Persistent link: https://www.econbiz.de/10003826053
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The optimal mix of taxes on money, consumption and income
De Fiore, Fiorella; Teles, Pedro - 2002
Persistent link: https://www.econbiz.de/10001670899
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Knightian uncertainty and credit cycles
Gerba, Eddie; Żochowski, Dawid - 2017
The Great Recession has been characterised by the two stylized facts: the buildup of leverage in the household sector in the period preceding the recession and a protracted economic recovery that followed. We attempt to explain these two facts as an information friction, whereby agents are...
Persistent link: https://www.econbiz.de/10011656163
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Finance and growth in the EU
De Ávila, Diego Romero - 2003
deregulation and harmonisation of banking laws at the EU level has brought about on growth over the last 40 years. Our main …
Persistent link: https://www.econbiz.de/10009635911
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Evaluating the real effect of bank branching deregulation : comparing contiguous counties across U.S. state borders
Huang, Rocco R. (contributor) - 2007
change borders to estimate treatment effects for 23 separate deregulation events. To distinguish real treatment effects from … in five out of the 23 deregulation events examined. Hinterland countiesʺ within the still-regulated states, but farther …-border spillover of deregulation effects may invalidate the empirical design …
Persistent link: https://www.econbiz.de/10003507197
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Financial market integration and loan competition : when is entry deregulation socially beneficial?
Kaas, Leo (contributor) - 2004
Persistent link: https://www.econbiz.de/10002555017
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Finance and growth in the EU : new evidence from the liberalisation and harmonisation of the banking industry
Romero-Ávila, Diego (contributor) - 2003
Persistent link: https://www.econbiz.de/10001820911