hold for structural modelling frameworks where monetary policy is set according to Taylor-type rules or seeks to minimize … for both asset pricing and macroeconomic allocation under a welfare-based monetary policy conduct. Against this background …, the paper focuses on the impact of such preferences on the Ramsey approach to monetary policy within a medium-scale model …

This paper uses a time-varying Factor Augmented VAR to investigate the evolving transmission of monetary policy and … and disaggregated prices suggest that the response of inflation, money supply and asset prices to monetary policy and … policy shocks started having a bigger impact on prices, a smaller impact on activity and began contributing more to overall …

usefulness of ECB-Global and DCP for policy analysis, we explore the implications of the euro rivaling the US dollar as a second …, while those from euro area shocks are amplified; domestic euro area monetary policy effectiveness is hardly affected by the …

predicting inflation at longer (3-year) horizons. -- Inflation forecasting ; leading indicators ; monetary policy ; information … content of money ; fiscal policy ; New EU Member States …

policy can support the macroeconomic transmission of fiscal interventions. We employ a DSGE model with financial frictions … whereby the interplay of corporate, banks and sovereign solvency risk affect the transmission of fiscal policy. The output …

closer to zero. A key advantage of this approach is to capture the gradualism of the monetary policy normalization process …