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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
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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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Purdah: on the rationale for central bank silence around policy meetings
Ehrmann, Michael; Fratzscher, Marcel - European Central Bank - 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/10005816165
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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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Forecasting ECB Monetary Policy; Accuracy is (Still) a Matter of Geography
Ehrmann, Michael; Fratzscher, Marcel; Berger, Helge - International Monetary Fund (IMF) - 2006
Monetary policy in the euro area is conducted within a multicountry, multicultural, and multilingual 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 European Central...
Persistent link: https://www.econbiz.de/10005825754
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Unchartered territory: Large-scale asset purchases by the European Central Bank
Bernoth, Kerstin; König, Philipp; Raab, Carolin; … - In: DIW Economic Bulletin 5 (2015) 13, pp. 189-198
purchase bonds, including euro area government bonds. The purchases are intended to anchor the rate of inflation and inflation … development of inflation in the euro area and outlines the main reasons for the recent decline in prices. It also discusses the …
Persistent link: https://www.econbiz.de/10010500470
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Unbekanntes Terrain: Anleihekäufe der Europäischen Zentralbank
Bernoth, Kerstin; König, Philipp; Reib, Carolin; … - In: DIW Wochenbericht 82 (2015) 13, pp. 307-316
Euroraum die Gefahr fiskalischer Dominanz, bei der eine künftige Bekämpfung der Inflation durch fiskalische Erwägungen … bonds, at its Council meeting in January. The purchases are intended to anchor the rate of inflation and inflation … fiscal dominance, implying that future control of inflation could be impeded by fiscal considerations. Moreover, asset …
Persistent link: https://www.econbiz.de/10010500484
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Unchartered Territory: Large-Scale Asset Purchases by the European Central Bank
Bernoth, Kerstin; König, Philipp; Raab, Carolin; … - In: DIW Economic Bulletin 5 (2015) 13, pp. 189-198
purchase bonds, including euro area government bonds. The purchases are intended to anchor the rate of inflation and inflation … development of inflation in the euro area and outlines the main reasons for the recent decline in prices. It also discusses the …
Persistent link: https://www.econbiz.de/10011210502
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Unbekanntes Terrain: Anleihekäufe der Europäischen Zentralbank
Bernoth, Kerstin; König, Philipp; Raab, Carolin; … - In: DIW Wochenbericht 82 (2015) 13, pp. 307-316
bonds, at its Council meeting in January. The purchases are intended to anchor the rate of inflation and inflation … fiscal dominance, implying that future control of inflation could be impeded by fiscal considerations. Moreover, asset …. Dies birgt im Euroraum die Gefahr fiskalischer Dominanz, bei der eine künftige Bekämpfung der Inflation durch fiskalische …
Persistent link: https://www.econbiz.de/10011210504
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Unbekanntes Terrain : Anleihekäufe der Europäischen Zentralbank
Bernoth, Kerstin; König, Philipp Johann; Reib, Carolin; … - In: DIW-Wochenbericht : Wirtschaft, Politik, Wissenschaft 82 (2015) 13, pp. 307-316
Euroraum die Gefahr fiskalischer Dominanz, bei der eine künftige Bekämpfung der Inflation durch fiskalische Erwägungen … bonds, at its Council meeting in January. The purchases are intended to anchor the rate of inflation and inflation … fiscal dominance, implying that future control of inflation could be impeded by fiscal considerations. Moreover, asset …
Persistent link: https://www.econbiz.de/10010496861