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What can keep euro area inflation high?

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Optimal monetary policy rules in an estimated sticky-information model

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The mystique surrounding the Central Bank's balance sheet, applied to the European crisis

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The mystique surrounding the central bank's balance sheet, applied to the European crisis

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The mystique surrounding the central bank's balance sheet, applied to the European crisis

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The mystique surrounding the central bank's balance sheet, applied to the European crisis

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The Mystique Surrounding the Central Bank's Balance Sheet, Applied to the European Crisis

Reis, Ricardo - 2013

In spite of the mystique behind a central bank's balance sheet, its resource constraint bounds the dividends it can distribute by the present value of seignorage, which is a modest share of GDP. Moreover, the statutes of the Federal Reserve or the ECB make it difficult for it to redistribute...

Persistent link: https://www.econbiz.de/10013087884

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