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Berger, Helge; Ehrmann, Michael; Fratzscher, Marcel - 2021

Media coverage of monetary policy actions is a central channel of a central bank's communication with the wider public, and thus an important factor for its credibility and policy effectiveness. This paper analyses the coverage which ECB monetary policy decisions receive in the print media, and...

Persistent link: https://www.econbiz.de/10013317451

A Global Monetary Tsunami? On the Spillovers of US Quantitative Easing

Fratzscher, Marcel - 2012

The paper analyses the global spillovers of the Federal Reserve's unconventional monetary policy measures since 2007 …. First, we find that Fed measures in the early phase of the crisis (QE1), but not since 2010 (QE2), were highly effective in … monetary policy since 2007 has contributed to portfolio reallocation as well as a re-pricing of risk in global financial …

Persistent link: https://www.econbiz.de/10013099158

Social Value of Public Information - Testing the Limits to Transparency

Ehrmann, Michael - 2014

Transparency has become an almost universal virtue among central banks. The paper tests empirically, for the case of the Federal Reserve, two hypotheses about central bank transparency derived from the debate of Morris and Shin (2002) and Svensson (2006). First, the paper finds that the...

Persistent link: https://www.econbiz.de/10012751806