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Political Leaders’ Socioeconomic Background and Fiscal Performance in Germany

Hayo, Bernd; Neumeier, Florian - Volkswirtschaft Abteilung, Fachbereich … - 2011

This paper investigates whether the socioeconomic status of the head of government helps explain fiscal performance. Applying sociological research that attributes differences in people’s ways of thinking and acting to their relative standing within society, we test whether the social status...

Persistent link: https://www.econbiz.de/10009369305

Stability Criteria and Convergence: The Role of the System of National Accounts for Fiscal Policy in Europe

Brück, Tilman; Cors, Andreas; Zimmermann, Klaus F.; … - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2002

The standardisation of the European systems of national accounts has progressed significantly in recent years. Some room for interpretation remains in regard to some accounting standards, the periodicity of the data, and the quality of the forecasts of budget deficits. Yet national accounts data...

Persistent link: https://www.econbiz.de/10005069043

Livelihood and Care of the Elderly: Determinants of Public Attitudes in Japan

Hayo, Bernd; Ono, Hiroyuki - Volkswirtschaft Abteilung, Fachbereich … - 2009

of the elderly in Japan. Using four waves of individual-level annual data from the Japanese General Social Survey … increasingly more consistent in their support for a government-based social security system in Japan. …

Persistent link: https://www.econbiz.de/10005685605

Comparing Public Attitudes Towards Providing for the Livelihood of the Elderly in Two aging Sodieties: Germany and Japan

Hayo, Bernd; Ono, Hiroyuki - Volkswirtschaft Abteilung, Fachbereich … - 2007

Germany and Japan. Applying an ordered logit model to individual data from representative public opinion surveys, it is … inclination towards a government-based pension system in the case of Japan but positively in Germany. Other significant influences … are the pensioner status of the respondents in Japan and their political position in the case of German data. …

Persistent link: https://www.econbiz.de/10005685638

Relative-Price Changes and Demand Factors in the Period of Quantitative Easing in Japan

Hayo, Bernd; Ono, Hiroyuki - Volkswirtschaft Abteilung, Fachbereich … - 2010

Concentrating on the period of quantitative easing in Japan, this paper reexamines the correlation between the …

Persistent link: https://www.econbiz.de/10008642868

Interbank lending and monetary policy transmission: evidence for Germany

Ehrmann, Michael; Worms, Andreas - Deutsche Bundesbank - 2001

This paper presents empirical evidence on the behaviour of interbank lending in Germany after a monetary policy impulse. Our VAR analysis shows that following a monetary contraction, the banking system as a whole attracts additional funds from foreign banks. Whereas small cooperative and savings...

Persistent link: https://www.econbiz.de/10005083202

Explaining monetary policy in press conferences

Ehrmann, Michael; Fratzscher, Marcel - European Central Bank - 2007

The question how best to communicate monetary policy decisions remains a highly topical issue among central banks. Focusing on the experience of the European Central Bank, this paper studies how explanations of monetary policy decisions at press conferences are perceived by financial markets....

Persistent link: https://www.econbiz.de/10005344820

Monetary Policy Committee Transparency: Measurement,Determinants, and Economic Effects

Hayo, Bernd; Mazhar, Ummad - Volkswirtschaft Abteilung, Fachbereich … - 2011

This paper studies monetary policy committee transparency (MPCT) based on a new index that measures central bankers’ educational and professional backgrounds as disclosed through central bank websites. Based on a novel cross-sectional data set covering 75 central banks, we investigate the...

Persistent link: https://www.econbiz.de/10009322966

The timing of central bank communication

Ehrmann, Michael; Fratzscher, Marcel - European Central Bank - 2005

This paper explores whether there are systematic patterns as to when members of the decision-making committees of the Federal Reserve, the Bank of England and the European Central Bank communicate with the public, and under what circumstances such communication has the ability to move financial...

Persistent link: https://www.econbiz.de/10005816134

Purdah: on the rationale for central bank silence around policy meetings

Ehrmann, Michael; Fratzscher, Marcel - European Central Bank - 2008

Despite substantial differences in monetary policy and communication strategies, many central banks share the practice of purdah, a self-imposed guideline of abstaining from communication around policy meetings or other important events. This practice is remarkable, as it seems to contradict the...

Persistent link: https://www.econbiz.de/10005816165