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Capital market development, corporate governance and the credibility of exchange rate pegs
Castrén, Olli; Takalo, Tuomas - 2000
Persistent link: https://www.econbiz.de/10001554426
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Ideology and monetary policy : the role of political parties' stances in the ECB's parliamentary hearings
Fraccaroli, Nicolò; Giovannini, Alessandro; Jamet, … - 2022
We investigate whether ideology drives the sentiments of parliamentarians when they speak to the central bank they hold accountable. To this end, we collect textual data on the quarterly hearings of the ECB President before the European Parliament from 1999 to 2019. We apply sentiment analysis...
Persistent link: https://www.econbiz.de/10012939688
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Optimal monetary policy rules with labor market frictions
Faia, Ester (contributor) - 2006
deviate from the strict inflation targeting since the policy maker faces a typical unemployment/inflation trade-off. In this … (hence the output gap) since the latter also depends on the evolution of unemployment. The matching frictions add a … matches. Hence optimal monetary policy features unemployment targeting along with inflation targeting …
Persistent link: https://www.econbiz.de/10003396811
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Robust monetary rules under unstructured and structured model uncertainty
Levine, Paul (contributor); Pearlman, Joseph (contributor) - 2008
This paper compares two contrasting approaches to robust monetary policy design. The first developed by Hansen and Sargent (2003, 2007) assumes unstructured model uncertainty and uses a minimax robustness criterion to design monetary rules. This contrasts with an older literature that structures...
Persistent link: https://www.econbiz.de/10003778827
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Optimal monetary policy rules for the euro area : an analysis using the area wide model
Dieppe, Alistair (contributor); Küster, Keith (contributor) - 2004
Persistent link: https://www.econbiz.de/10002125159
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The performance and robustness of interest-rate rules in models of the euro area
Adalid, Ramón; Coenen, Günter; McAdam, Peter; … - 2005
In this paper, we examine the performance and robustness of optimised interest-rate rules in four models of the euro area which differ considerably in terms of size, degree of aggregation, relevance of forward-looking behavioural elements and adherence to micro-foundations. Our findings are...
Persistent link: https://www.econbiz.de/10003001830
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Passive monetary policy and active fiscal policy in a monetary union
Maćkowiak, Bartosz; Schmidt, Sebastian - 2023
? How are the price levels in the member countries determined? We extend the fiscal theory of the price level to the case of …
Persistent link: https://www.econbiz.de/10013553440
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Labour tax reforms, cross-country coordination and the monetary policy stance in the euro area : a structural model-based approach
Jacquinot, Pascal; Lozej, Matija; Pisani, Massimiliano - 2018
We evaluate the effects of permanently reducing labour tax rates in the euro area (EA) by simulating a large-scale open economy dynamic general equilibrium model. The model features the EA as a monetary union, split in two regions (Home and the rest of the EA - REA), the US, and the rest of the...
Persistent link: https://www.econbiz.de/10011792134
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Macroeconomic stabilisation properties of a euro area unemployment insurance scheme
Kaufmann, Christoph; Attinasi, Maria Grazia; … - 2020
supranational unemployment insurance scheme. The model is calibrated to the euro area's core and periphery and features a rich …-regional correlation of unemployment and in ation increases by up to 52% and 27%, respectively, compared to the decentralised setting. The …
Persistent link: https://www.econbiz.de/10012241162
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Inflation and inflation uncertainty in the euro area
Caporale, Guglielmo Maria; Onorante, Luca; Paesani, Paolo - 2010
This paper estimates a time-varying AR-GARCH model of inflation producing measures of inflation uncertainty for the euro area, and investigates their linkages in a VAR framework, also allowing for the possible impact of the policy regime change associated with the start of EMU in 1999. The main...
Persistent link: https://www.econbiz.de/10003993972