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New fiscal regulations for Europe
Fratzscher, Marcel; Kriwoluzky, Alexander; Michelsen, Claus - In: DIW weekly report : economy, politics, science : a … 9 (2019) 16/18, pp. 148-149
Current fiscal regulations worsened the economic situation in the euro area during the financial and sovereign debt crisis. Regulations that allow more flexibility during downturns and have a countercyclical effect are needed. Five suggestions for a new fiscal package: new spending rules,...
Persistent link: https://www.econbiz.de/10012007500
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A Stable and Social Europe: Fiscal Rules, a Stabilization Fund, Insolvency Rules, Gender Quota, Gender Pension Gaps, and Education. Reports
Fratzscher, Marcel; Kriwoluzky, Alexander; Michelsen, Claus - In: DIW Weekly Report 9 (2019) 16/18, pp. 148-159
Persistent link: https://www.econbiz.de/10012014957
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Stabiles und soziales Europa: Fiskalregeln, Stabilisierungsfonds, Insolvenzregeln, Gender Quote, Gender Pension Gaps, Bildung. Berichte
Weinhardt, Felix; Hammerschmid, Anna; Rowold, Carla; … - In: DIW Wochenbericht 86 (2019) 18, pp. 310-321
Persistent link: https://www.econbiz.de/10012016353
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Inflation targeting as a shock absorber
Fratzscher, Marcel; Große Steffen, Christoph; Rieth, Malte - In: Journal of international economics 123 (2020), pp. 1-16
Persistent link: https://www.econbiz.de/10012588312
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Neue Fiskalregeln für Europa
Fratzscher, Marcel; Kriwoluzky, Alexander; Michelsen, Claus - In: DIW-Wochenbericht : Wirtschaft, Politik, Wissenschaft 86 (2019) 18, pp. 310-311
Gegenwärtige Fiskalregeln haben in der Finanz- und Staatsschuldenkrise zu einer Verschärfung der wirtschaftlichen Situation im Euroraum geführt. Notwendig sind Regeln, die in schlechten Zeiten mehr Flexibilität erlauben und antizyklisch wirken. Fünf Vorschläge für neues Fiskalpaket: neue...
Persistent link: https://www.econbiz.de/10012007839
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The role of central bank transparency for guiding private sector forecasts
Ehrmann, Michael; Eijffinger, Sylvester C. W.; … - In: The Scandinavian journal of economics 114 (2012) 3, pp. 1018-1052
Persistent link: https://www.econbiz.de/10009714106
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Inflation targeting as a shock absorber
Fratzscher, Marcel; Große Steffen, Christoph; Rieth, Malte - 2018
We study the characteristics of inflation targeting as a shock absorber, using quarterly data for a large panel of … natural disasters. We find that inflation targeting improves macroeconomic performance following such exogenous shocks. It … lowers inflation, raises output growth, and reduces inflation and growth variability compared to alternative monetary regimes …
Persistent link: https://www.econbiz.de/10011790769
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Purdah: on the rationale for central bank silence around policy meetings
Ehrmann, Michael; Fratzscher, Marcel - 2008
Despite substantial differences in monetary policy and communication strategies, many central banks share the practice of purdah, a self-imposed guideline of abstaining from communication around policy meetings or other important events. This practice is remarkable, as it seems to contradict the...
Persistent link: https://www.econbiz.de/10011604914
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Euro area government bonds : integration and fragmentation during the sovereign debt crisis
Ehrmann, Michael; Fratzscher, Marcel - 2015
The paper analyzes the integration of euro area sovereign bond markets during the European sovereign debt crisis. It tests for contagion (i.e., an intensification in the transmission of shocks across countries), fragmentation (a reduction in spillovers) and flight-to-quality patterns, exploiting...
Persistent link: https://www.econbiz.de/10010508561
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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