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Household risk management and actual mortgage choice in the euro area
Ehrmann, Michael; Ziegelmeyer, Michael - European Central Bank - 2014
of household risk management: income volatility reduces the take-out of ARMs, while increasing duration and relative size …
Persistent link: https://www.econbiz.de/10010753753
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Dispersed communication by central bank committees and the predictability of monetary policy decisions
Ehrmann, Michael; Fratzscher, Marcel - In: Public Choice 157 (2013) 1, pp. 223-244
The paper asks whether members of central bank decision-making committees should communicate with the public in a collegial manner, by conveying the consensus or majority view of the committee, or in an individualistic way, by providing the diversity of views among the committee members. It...
Persistent link: https://www.econbiz.de/10010864384
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Convergence and Anchoring of Yield Curves in the Euro Area
Ehrmann, Michael; Fratzscher, Marcel; Gürkaynak, Refet S. - C.E.P.R. Discussion Papers - 2007
We study the convergence of European bond markets and the anchoring of inflation expectations in euro area countries … substantial increase in the anchoring of long-term inflation expectations since EMU, particularly for Italy and Spain, which since …
Persistent link: https://www.econbiz.de/10005067658
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Politics and Monetary Policy
Ehrmann, Michael; Fratzscher, Marcel - C.E.P.R. Discussion Papers - 2010
interest rates. Three factors explain the different preferences. First, politicians put relatively less weight on inflation …
Persistent link: https://www.econbiz.de/10008784739
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Monetary Policy in the Media
Berger, Helge; Ehrmann, Michael; Fratzscher, Marcel - C.E.P.R. Discussion Papers - 2011
, which tends to report more negatively on ECB policy decisions when inflation exceeds the inflation target. …
Persistent link: https://www.econbiz.de/10008854477
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The role of central bank transparency for guiding private sector forecasts
Ehrmann, Michael; Eijffinger, Sylvester C W; … - C.E.P.R. Discussion Papers - 2009
announcing a quantified inflation objective, other forms of communication, or by publishing central banks’ inflation and output … (economic) transparency, and given our findings that disagreement among inflation expectations in the general public is not …
Persistent link: https://www.econbiz.de/10008458290
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Equal size, equal role? Interest rate interdependence between the Euro area and the United States
Ehrmann, Michael; Fratzscher, Marcel - Center for Financial Studies - 2003
This paper investigates whether the degree and the nature of economic and monetary policy interdependence between the United States and the euro area have changed with the advent of EMU. Using real-time data, it addresses this issue from the perspective of financial markets by analysing the...
Persistent link: https://www.econbiz.de/10010958641
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Equal size, equal role? Interdependence between the euro area and the United States
Ehrmann, Michael; Fratzscher, Marcel - European Central Bank - 2004
This paper investigates whether the degree and the nature of economic and monetary policy interdependence between the United States and the euro area have changed with the advent of EMU. Using real-time data, it addresses this issue from the perspective of financial markets by analysing the...
Persistent link: https://www.econbiz.de/10005070391