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Uncertainty about Federal Reserve policy and Its transmission to emerging economies : evidence from Twitter

Tillmann, Peter - 2016

It is well known that a tightening or easing of the United States' monetary policy affects financial markets in emerging economies. This paper argues that uncertainty about future monetary policy is a separate transmission channel. We focus on the taper tantrum episode in 2013, a period with an...

Persistent link: https://www.econbiz.de/10011546623

Remittance flows and U.S. monetary policy

Machasio, Immaculate; Tillmann, Peter - 2021 - This version: October 27, 2021

Remittance inflows are driven by macroeconomic conditions in the home and the host economies, respectively. In this paper, we study the effect of U.S. monetary policy on remittance flows into economies in Latin American and the Caribbean. The role of Fed policy for remittances has not yet been...

Persistent link: https://www.econbiz.de/10012694427

The macroeconomic impact of unconventional monetary policy shocks

Meinusch, Annette; Tillmann, Peter - 2014

With the Federal Funds rate approaching the zero lower bound, the U.S. Federal Reserve adopted a range of unconventional monetary policy measures known as Quantitative Easing (QE). Quantifying the impact QE has on the real economy, however, is not straightforward as standard tools such as VAR...

Persistent link: https://www.econbiz.de/10010338158

The macroeconomic impact of unconventional monetary policy shocks : conference paper

Meinusch, Annette; Tillmann, Peter - 2014

Persistent link: https://www.econbiz.de/10010482445

Stock market response to COVID-19, containment measures and stabilization policies : the case of Europe

Klose, Jens; Tillmann, Peter - 2022

Policymakers imposed constraints on public life in order to contain the Covid-19 pandemic. At the same time, fiscal and monetary policy implemented a large range of of expansionary measures to limit the economic consequences of the pandemic and stimulate the recovery. In this paper, we assess...

Persistent link: https://www.econbiz.de/10012887221

COVID-19 and financial markets : a panel analysis for European countries

Klose, Jens; Tillmann, Peter - 2020

In order to fight the economic consequences of the COVID-19 pandemic, monetary and fiscal policy announced a large variety of support packages which are often unprecedented in size. In this paper, we provide an empirical analysis of the responses of European financial markets to these policy...

Persistent link: https://www.econbiz.de/10012224892

Quantitative easing and tapering uncertainty : evidence from Twitter

Meinusch, Annette; Tillmann, Peter - 2015

responses to identify a belief shock. The results show that shocks to tapering beliefs have profound effects on interest rates …

Persistent link: https://www.econbiz.de/10010494862

ECB vs Bundesbank : diverging tones and policy effectiveness

Tillmann, Peter; Walter, Andreas - 2018

-term interest rates respond less strongly to a monetary policy shock if ECB-Bundesbank communication is more cacophonous than on …

Persistent link: https://www.econbiz.de/10011858943

Household expectations and dissent among policymakers

Grebe, Moritz; Tillmann, Peter - 2022

This paper studies the impact of dissent in the ECB's Governing Council on uncertainty surrounding households' inflation expectations. We conduct a randomized controlled trial using the Bundesbank Online Panel Households. Participants are provided with alternative information treatments...

Persistent link: https://www.econbiz.de/10013278899

News shocks spillovers : how the euro area responds to expected Fed policy

Rudel, Paul; Tillmann, Peter - 2018

monetary policy news shock based on a VAR model. A monetary news shock is equivalent to new information about the Fed's future … monetary policy becoming available today. One example of a monetary news shock is a Forward Guidance announcement, where the … shocks. We estimate the response of the euro area to an expected future policy tightening of the Fed. The U.S. news shock …

Persistent link: https://www.econbiz.de/10011921241