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Point targets, tolerance bands, or target ranges? : inflation target types and the anchoring of inflation expectations
Ehrmann, Michael - 2021
Inflation targeting is implemented in different ways – most often by adopting point targets, by having tolerance bands … target types affect the anchoring of inflation expectations at shorter horizons differently. It tests two contradictory …. This suggests that there are some benefits to adopting intervals, but the central bank can anchor inflation expectations …
Persistent link: https://www.econbiz.de/10012508768
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Point targets, tolerance bands, or target ranges? : inflation target types and the anchoring of inflation expectations
Ehrmann, Michael - 2021
Inflation targeting is implemented in different ways - most often by adopting point targets, by having tolerance bands … target types affect the anchoring of inflation expectations at shorter horizons differently. It tests two contradictory …. This suggests that there are some benefits to adopting intervals, but the central bank can anchor inflation expectations …
Persistent link: https://www.econbiz.de/10012519532
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Forecasting ECB monetary policy: accuracy is (still) a matter of geography
Berger, Helge; Ehrmann, Michael; Fratzscher, Marcel - 2006
Monetary policy in the euro area is conducted within a multi-country, multi-cultural, and multi-lingual context involving multiple central banking traditions. How does this heterogeneity affect the ability of economic agents to understand and to anticipate monetary policy by the ECB? Using a...
Persistent link: https://www.econbiz.de/10010299102
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Forecasting ECB monetary policy : accuracy is (still) a matter of geography
Berger, Helge (contributor); Ehrmann, Michael (contributor);  … - 2006
Monetary policy in the euro area is conducted within a multi-country, multi-cultural, and multi-lingual context involving multiple central banking traditions. How does this heterogeneity affect the ability of economic agents to understand and to anticipate monetary policy by the ECB? Using a...
Persistent link: https://www.econbiz.de/10003370562
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Forecasting ECB Monetary Policy : Accuracy is (Still) a Matter of Geography
Ehrmann, Michael; Fratzscher, Marcel; Berger, Helge - 2021
Monetary policy in the euro area is conducted within a multi-country, multicultural, and multi-lingual context involving multiple central banking traditions. How does this heterogeneity affect the ability of economic agents to understand and to anticipate monetary policy by the ECB? Using a...
Persistent link: https://www.econbiz.de/10013318108
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Point Targets, Tolerance Bands, or Target Ranges? Inflation Target Types and the Anchoring of Inflation Expectations
Ehrmann, Michael - 2021
Inflation targeting is implemented in different ways – most often by adopting point targets, by having tolerance bands … target types affect the anchoring of inflation expectations at shorter horizons differently. It tests two contradictory …. This suggests that there are some benefits to adopting intervals, but the central bank can anchor inflation expectations …
Persistent link: https://www.econbiz.de/10013225749
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Point Targets, Tolerance Bands, or Target Ranges? Inflation Target Types and the Anchoring of Inflation Expectations
Ehrmann, Michael - 2021
Inflation targeting is implemented in different ways – most often by adopting point targets, by having tolerance bands … target types affect the anchoring of inflation expectations at shorter horizons differently. It tests two contradictory …. This suggests that there are some benefits to adopting intervals, but the central bank can anchor inflation expectations …
Persistent link: https://www.econbiz.de/10013231960
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Targeting inflation from below : how do inflation expectations behave?
Ehrmann, Michael - 2014
Inflation targeting (IT) had originally been introduced as a device to bring inflation down and stabilize it at low … levels. Given the current environment of persistently weak inflation in many advanced economies, IT central banks must now … bring inflation up to target. In this paper, the author tests to what extent inflation expectations are anchored in such …
Persistent link: https://www.econbiz.de/10010437970
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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
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Forecasting ECB monetary policy: accuracy is (still) a matter of geography
Berger, Helge; Ehrmann, Michael; Fratzscher, Marcel - 2006
Monetary policy in the euro area is conducted within a multi-country, multicultural, and multi-lingual context involving multiple central banking traditions. How does this heterogeneity affect the ability of economic agents to understand and to anticipate monetary policy by the ECB? Using a...
Persistent link: https://www.econbiz.de/10011604624