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The Ecb's Price Stability Framework : Past Experience, and Current and Future Challenges

Cecioni, Martina; Coenen, Günter; Motto, Roberto; le … - 2021

designed. At the time, the main concern of the Governing Council was to anchor inflation at low levels in face of the … low-inflation environment has created the concrete risk of de-anchoring of longer-term inflation expectations. Addressing … low inflation is different from addressing high inflation. The ability of the ECB (and central banks globally) to provide …

Persistent link: https://www.econbiz.de/10013210725

DP17784 Credibility gains from communicating with the public : evidence from the ECB's new monetary policy strategy

Ehrmann, Michael; Georgarakos, Dimitris; Kenny, Geoff - 2023

Persistent link: https://www.econbiz.de/10013477819

Credibility Gains from Communicating with the Public : Evidence from the ECB's New Monetary Policy Strategy

Ehrmann, Michael; Georgarakos, Dimitris; Kenny, Geoff - 2023

We show that the announcement of the ECB’s Strategy Review and the revision of its inflation target in summer 2021 went … persistent credibility gains, even after inflation increased …

Persistent link: https://www.econbiz.de/10014254531

Communication of monetary policy in unconventional times

Coenen, Günter; Ehrmann, Michael; Gaballo, Gaetano; … - 2017

Monetary policy communication is particularly important during unconventional times, because high uncertainty about the economy, the introduction of new policy tools and possible limits to the central bank 's toolkit could hamper the predictability of policy actions. We study how monetary policy...

Persistent link: https://www.econbiz.de/10011663996

Communication of monetary policy in unconventional times

Coenen, Günter; Ehrmann, Michael; Gaballo, Gaetano; … - 2017

Monetary policy communication is particularly important during unconventional times, because high uncertainty about the economy, the introduction of new policy tools and possible limits to the central bank's toolkit could hamper the predictability of policy actions. We study how monetary policy...

Persistent link: https://www.econbiz.de/10011755761

Central bank communication by ??? : the economics of public policy leaks

Ehrmann, Michael; Gnan, Phillipp; Rieder, Kilian - 2023

Leaks of confidential information emanating from public institutions have been the focus of a long-standing line of research. Yet, their determinants as well as their potential impact on public views and on policy effectiveness remain elusive. To address this gap, we study leaks from central...

Persistent link: https://www.econbiz.de/10014380707