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This article compares two types of monetary policy rules - the Taylor-Rule and the Orphanides-Rule - with respect to their forecasting properties for the policy rates of the European Central Bank. In this respect the basic rules, results from estimated models and augmented rules are compared....
Persistent link: https://www.econbiz.de/10012063951
This article compares two types of monetary policy rules - the Taylor-Rule and the Orphanides-Rule - with respect to their forecasting properties for the policy rates of the European Central Bank. In this respect the basic rules, results from estimated models and augmented rules are compared....
Persistent link: https://www.econbiz.de/10012034314
Persistent link: https://www.econbiz.de/10003785833
drivers of asset prices are global liquidity conditions. Central banks flooded the markets with ample liquidity. Mopping up … this excess liquidity will be one major task for central banks worldwide, which needs to be done in a coordinated fashion …. Moreover, our analysis has shown that liquidity will first show up in asset price inflation and only later in consumer goods …
Persistent link: https://www.econbiz.de/10003934687
vagabonding global liquidity, there is a strong case for globally coordinating monetary exit strategies. Given unsurmountable …
Persistent link: https://www.econbiz.de/10003958646
task - the coordination of the non-exit is more likely than the coordination of the exit. -- Geldpolitik ; Fiskalpolitik …
Persistent link: https://www.econbiz.de/10008855893
vagabonding global liquidity, there is a strong case for globally coordinating monetary exit strategies. Given unsurmountable …
Persistent link: https://www.econbiz.de/10003961040
A series of crises and emergency interest rate cuts has brought global interest rates towards zero and government debt to historical records. The paper discusses the exit options from unconventional monetary policies and unsustainable government debt. First, the paper sheds light on the...
Persistent link: https://www.econbiz.de/10008748343
area. According to our results, global liquidity shocks are a driving force of the global economy and various national … indicate that global liquidity shocks have recently become more important as a determinant for house prices. In general, global …
Persistent link: https://www.econbiz.de/10003879570
area. According to our results, global liquidity shocks are a driving force of the global economy and various national … indicate that global liquidity shocks have recently become more important as a determinant for house prices. In general, global …
Persistent link: https://www.econbiz.de/10003884937