Narrow search
Showing 1 - 10 of 45
Cover Image
Is the View from the Eurotower Purely European? National Divergence and ECB Interest Rate Policy
Heinemann, Friedrich; Huefner, Felix P. - 2002
The official view on ECB monetary policy claims that monetary decisions are based solely on average data for the euro zone and that diverging regional developments are disregarded. However, experience from other two tier central banks and theoretical considerations suggest that this official...
Persistent link: https://www.econbiz.de/10010297739
Cover Image
A Comparison Between the Fed and the ECB: Taylor Rules
Ullrich, Katrin - 2003
This paper analyzes whether Taylor-type policy rules can be used to describe the behavior of the Federal Reserve and the European Central Bank from the beginning of 1999 until mid 2002. Since there was no common monetary policy for the Euro area before 1999, we examine if the average Central...
Persistent link: https://www.econbiz.de/10010298135
Cover Image
The impact of monetary instruments on shock absorption in EU-Countries
Müller, Claudia; Buscher, Herbert S. - 1999
The main characteristic of the implementation of the European Monetary Union (EMU) is the transition from various national currencies to the Euro, the common European currency. A final fixing of the individual bilateral exchange rates of all European countries involved in the Monetary Union...
Persistent link: https://www.econbiz.de/10010297617
Cover Image
Decision-Making of the ECB: Reform and Voting Power
Ullrich, Katrin - 2004
The ECB reform is designed to meet the challenges of an enlarged monetary union in the ECB Council. The reform is assessed by analysing alternatives for the classification of governors into groups of the rotation scheme like the synchronisation of the economic development of the member states....
Persistent link: https://www.econbiz.de/10010297393
Cover Image
Does it Pay to Watch Central Bankers' Lips? The Information Content of ECB Wording
Heinemann, Friedrich; Ullrich, Katrin - 2005
In this analysis, the informational content of central bank rhetoric is assessed based on the experience with the ECB since 1999. Among the ECB?s communication channels we focus on the monthly press conferences. Based on a counting of certain signal words we construct a wording indicator...
Persistent link: https://www.econbiz.de/10010297482
Cover Image
Inflation Expectations of Experts and ECB Communication
Ullrich, Katrin - 2007
The communication policy of the European Central Bank attracts a lot of attention from financial markets. This paper analyses the informational content of the monthly introductory statements of the ECB president explaining interest rate decisions with regard to inflation expectations of...
Persistent link: https://www.econbiz.de/10010297941
Cover Image
Why do financial market experts misperceive future monetary policy decisions?
Schmidt, Sandra; Nautz, Dieter - 2010
This paper investigates why financial market experts misperceive the interest rate policy of the European Central Bank (ECB). Assuming a Taylor-rule-type reaction function of the ECB, we use qualitative survey data on expectations about the future interest rate, inflation, and output to discover...
Persistent link: https://www.econbiz.de/10010300740
Cover Image
Unterschiede zwischen Fiskal- und Geldpolitik und die Konsequenzen für eine Delegation
Ullrich, Katrin - 2005
Geldpolitik politisch unabhängig auf der supranationalen Ebene für die Länder der Europäischen Währungsunion gemeinsam … der unabhängigen Geldpolitik bei nationaler, abhängiger Fiskalpolitik durch die Veränderung der strategischen … Einsatzmöglichkeiten. Die Delegation der Geldpolitik auf die supranationale Ebene lockert eher die Beschränkungen für die Fiskalpolitik, da …
Persistent link: https://www.econbiz.de/10010297481
Cover Image
Monetary Policy Implementation and the Federal Funds Rate
Nautz, Dieter; Schmidt, Sandra - 2008
This paper investigates how the implementation of monetary policy affects the dynamics and the volatility of the federal funds rate. Since the early 1980s, the most important changes in the Fed?s conduct of monetary policy refer to the role of the federal funds rate target and the reserve...
Persistent link: https://www.econbiz.de/10010298035
Cover Image
Unterschiede zwischen Fiskal- und Geldpolitik und die Konsequenzen für eine Delegation
Ullrich, Katrin - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2005
Geldpolitik politisch unabhängig auf der supranationalen Ebene für die Länder der Europäischen Währungsunion gemeinsam … der unabhängigen Geldpolitik bei nationaler, abhängiger Fiskalpolitik durch die Veränderung der strategischen … Einsatzmöglichkeiten. Die Delegation der Geldpolitik auf die supranationale Ebene lockert eher die Beschränkungen für die Fiskalpolitik, da …
Persistent link: https://www.econbiz.de/10005098325