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Communication and decision-making by central bank committees : different strategies, same effectiveness?
Ehrmann, Michael (contributor);  … - 2005
The paper assesses the communication strategies of the Federal Reserve, the Bank of England and the European Central Bank and their effectiveness. We find that the effectiveness of communication is not independent from the decisionmaking process in the committee. The paper shows that the Federal...
Persistent link: https://www.econbiz.de/10003014292
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Equity and bond market signals as leading indicators of bank fragility
Groop, Reint; Vesala, Jukka; Vulpes, Giuseppe - 2002
Persistent link: https://www.econbiz.de/10001670918
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The role of the exchange rate for adjustment in boom and bust episodes
Martin, Reiner (contributor); Schuknecht, Ludger (contributor) - 2007
more slowly. Some Central and East European EU Member States are currently experiencing strong credit and asset price …
Persistent link: https://www.econbiz.de/10003554948
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What "hides" behind sovereign debt ratings?
Afonso, António (contributor); Gomes, Pedro (contributor);  … - 2007
In this paper we study the determinants of sovereign debt credit ratings using rating notations from the three main international rating agencies, for the period 1995-2005. We employ panel estimation and random effects ordered probit approaches to assess the explanatory power of several...
Persistent link: https://www.econbiz.de/10003410549
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Surprising comparative properties of monetary models : results from a new model database
Taylor, John B.; Wieland, Volker - 2010
In this paper we investigate the comparative properties of empirically-estimated monetary models of the U.S. economy. We make use of a new database of models designed for such investigations. We focus on three representative models: the Christiano, Eichenbaum, Evans (2005) model, the Smets and...
Persistent link: https://www.econbiz.de/10008688516
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Geography or skills : what explains Fed watchers' forecast accuracy of US monetary policy?
Berger, Helge (contributor); Ehrmann, Michael (contributor);  … - 2006
The paper shows that there is a substantial degree of heterogeneity in forecast accuracy among Fed watchers. Based on a novel database for 268 professional forecasters since 1999, the average forecast error of FOMC decisions varies 5 to 10 basis points between the best and worst-performers...
Persistent link: https://www.econbiz.de/10003396783
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Analysing and combining multiple credit assessments of financial institutions
Tabakis, Evangelos; Vinci, Anna - 2002
Persistent link: https://www.econbiz.de/10001670884
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Deeper, wider and more competitive? : monetary integration, Eastern enlargement and competitiveness in the European Union
Ottaviano, Gianmarco I. P. (contributor);  … - 2007
firms? And in the European context, have key elements of the EU strategy such as EMU and enlargement helped or hindered … located in participating economies. Enlargement has, instead, two contrasting effects. It improves the accessibility of EU …
Persistent link: https://www.econbiz.de/10003635984
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The Maastricht convergence criteria and optimal monetary policy for the EMU accession Countries
Lipińska, Anna (contributor) - 2008
The EMU accession countries are obliged to fulfill the Maastrich convergence criteria prior to entering the EMU. This paper uses a DSGE model of a two-sector small open economy, to address the following question: How do the Maastricht convergence criteria modify optimal monetary policy in an...
Persistent link: https://www.econbiz.de/10003778818
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Fiscal and monetary policy in the enlarged European Union (forthcoming)
Pogorelec, Sabina (contributor) - 2006
I build a quantitative two-country DSGE model of the European Union (EU) and investigate whether there are welfare … gains from fiscal policy cooperation between the new EU members and the euro area (EMU). Fiscal cooperation is defined in … firms in the new EU countries. When there is no foreign ownership in the new EU countries, the euro area is indifferent …
Persistent link: https://www.econbiz.de/10003358603