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Monetary policy spillovers and emerging market credit : the impact of Federal Reserve communications on sovereign CDS spreads

Fender, Ingo; Hayo, Bernd; Neuenkirch, Matthias - 2011

In this paper, we study the effects of US target rate changes and related communications by members of the Federal Reserve Board of Governors on spreads for emerging market sovereign credit default swaps (CDS). Using GARCH models, we find that during the pre-financial crisis sub-sample (April...

Persistent link: https://www.econbiz.de/10009304122

Violations of the "rules of the game" and the credibility of the classical gold standard, 1880 - 1914

Bordo, Michael D.; MacDonald, Ronald - 1997

Persistent link: https://www.econbiz.de/10000973758

Rules, discretion, and central bank independence : the German experience 1880 - 1989

Eschweiler, Bernhard - 1993

Persistent link: https://www.econbiz.de/10000877523

Violations of the 'rules of the game' and the credibility of the classical gold standard, 1880 - 1914

Bordo, Michael D.; MacDonald, Ronald - 1997

Persistent link: https://www.econbiz.de/10000637483

Central Banks : Evolution and Innovation in Historical Perspective

Bordo, Michael D. - 2017

Central banks have evolved for close to four centuries. This paper argues that for two centuries central banks caught up to the strategies followed by the leading central banks of the era; the Bank of England in the eighteenth and nineteenth centuries and the Federal Reserve in the twentieth...

Persistent link: https://www.econbiz.de/10012947026

Rules, Discretion, and Central Bank Independence : The German Experience 1880-1989

eschweiler, Bernard; Bordo, Michael D. - 2021

best. Monetary policy in Germany during the past one hundred years provides an excellent case to assess the empirical … authority in 1876, Germany has participated in four monetary regimes: the pre-war gold standard, the inter-war gold standard … in Germany was always geared toward maintaining price stability with the exception of the two world war periods. Germany …

Persistent link: https://www.econbiz.de/10013224864

Good Versus Bad Deflation : Lessons from the Gold Standard Era

Bordo, Michael D.; Landon-Lane, John S.; Redish, Angela - 2021

experience of the United States, the United Kingdom, and Germany in the late nineteenth century during a period characterized by …

Persistent link: https://www.econbiz.de/10013237965

Violations of the `Rules of the Game' and the Credibility of the Classical Gold Standard, 1880-1914

Bordo, Michael D.; MacDonald, Ronald - 2021

This paper examines the recently noted finding that the Classical gold standard represented a credible, well-behaved target zone system from the perspective of the well-documented failure of countries to play by the rules of the game in the classical period. In particular, we test an hypothesis...

Persistent link: https://www.econbiz.de/10013239352

Superstar central bankers : conference paper

Neuenkirch, Matthias; Tillmann, Peter - 2014

The personalities of central bankers moved center stage during the recent financial crisis. Some central bankers even gained "superstar" status. In this paper, we evaluate the pivotal role of superstar central bankers by assessing the difference an outstanding governor makes to economic...

Persistent link: https://www.econbiz.de/10010487271

Rules, discretion, and central bank independence : the German experience 1880-1989

Eschweiler, Bernard; Bordo, Michael D. - 1993

monetary policy to an independent and conservative central bank can be second best. Monetary policy in Germany during the past … independence in monetary policy making. Since the creation of a central monetary authority in 1876, Germany has participated in …

Persistent link: https://www.econbiz.de/10011577141