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Firm-level exchange rate exposure in the Eurozone
Hutson, Elaine; O'Driscoll, Anthony
Using a sample of 1154 European firms from 11 countries, we show that firm-levelexchange exposure for Eurozone and non-Eurozone … European firms has increased sincethe introduction of the euro, but this rise was smaller for Eurozone than non … Eurozone countries, so the advent of the euroappears to have been associated with a shift in exchange risk from systematic to …
Persistent link: https://www.econbiz.de/10009475709
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Optimal Central Bank Conservatism and Monopoly Trade Unions
Berger, Helge; Hefeker, Carsten; Schoeb, Ronnie - 2000
The “conservative central banker” has come under attack recently. Explicitly modeling the interaction of a trade union with monetary policy, it has been argued that the standard solution to the inflationary bias in monetary policy might actually be welfare reducing if the trade union has an...
Persistent link: https://www.econbiz.de/10009447268
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Monetary Policy without Money: Hamlet without the Ghost
Laidler, David - 2003
Today' standard model of monetary policy has aggregate demand responding directly to an interest rate under the central bank's control, and ignores the role played by the quantity of money in the transmission mechanism. Even though monetary policy is usually aimed at controlling price level...
Persistent link: https://www.econbiz.de/10009447279
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Lietuvos pinigų politika
Baranovaitė, Marina - 2005
The object of the study – Lithuanian monetary policy. The purpose of the work – to estimate the level of achieved objectives of Lithuanian monetary policy and to forecast perspectives after joining to European Union. The main tasks: 1. to investigate the objectives, means and results of...
Persistent link: https://www.econbiz.de/10009478782
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Loud and clear? Can we hear when the SARB speaks?
Reid M.; Du Plessis S. - 2010
Inflation targeting is a forward-looking framework for monetary policy that has brought unprecedented transparency to the process of monetary policy. This paper aims to assess the degree to which the South African Reserve Bank's (SARB) Monetary Policy Committee (MPC) has, since the introduction...
Persistent link: https://www.econbiz.de/10009480479
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The sensitivity of south African inflation expectations to surprises
Reid M. - 2009
Price stability is widely recognised as the primary goal of modern monetary policy, and the management of private sector inflation expectations has become an essential channel through which this goal is achieved. This evaluation aims to improve the understanding of how the sensitivity of private...
Persistent link: https://www.econbiz.de/10009480481
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AN ANALYSIS ON MONETARY CONDITION INDEX IN TURKEY BY USING STRUCTURAL VAR ANALYSIS
AÇCI, Yunus; TASAR, Izzet - 2016
The Central Bank of Turkey (TCMB) has a significant power on aggregate demand and inflation expectation via monetary policy tools. While deciding monetary policies it’s a crucial question and a discussion topic for TCMB (Turkish Republic Central Bank) if the policy makers should take into...
Persistent link: https://www.econbiz.de/10011529234
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Hedger of last resort: evidence from Brazilian FX interventions, local credit, and global financial cycles
Gonzalez, Rodrigo Barbone; Khametshin, Dmitry; Peydró, … - 2020
Este documento demuestra que las políticas de un banco central local pueden atenuar los efectos del ciclo financiero global [Global Financial Cycle (GFC)]. Para su identificación, analizamos la variación del GFC y las intervenciones del Banco Central de Brasil en los mercados derivados de...
Persistent link: https://www.econbiz.de/10012523796
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How Important Are Foreign Shocks in Small Open Economy? The Case of Slovakia
Horváth, Roman; Rusnák, Marek - 2008
In this paper, we provide evidence on the nature and the relative importance of domestic and foreign shocks in Slovak economy based on block-restriction vector autoregression model in 1999-2007. We document well-functioning monetary transmission mechanism in Slovakia. Subject to various...
Persistent link: https://www.econbiz.de/10009477391
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Europos Centrinio banko veiklos teisinis reguliavimas
Narbutaitė, Gema - 2006
the Euro-zone. Moreover, the EMU creates conditions for economic and monetary stability all over Europe which allows for …
Persistent link: https://www.econbiz.de/10009478178