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Monetary policy in transition: Essays on monetary policy transmission mechanism in China
Koivu, Tuuli - 2012
emerged as the second biggest economy in the world. In this study, we seek to illuminate the role of the monetary policy in … China differs substantially from what is typical for an advanced market economy, where an independent central bank often … that China's monetary-policy implementation and its transmission to the real economy still rely heavily on quantitative …
Persistent link: https://www.econbiz.de/10012148910
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The timing of central bank communication
Ehrmann, Michael; Fratzscher, Marcel - 2005
This paper explores whether there are systematic patterns as to when members of the decision-making committees of the Federal Reserve, the Bank of England and the European Central Bank communicate with the public, and under what circumstances such communication has the ability to move financial...
Persistent link: https://www.econbiz.de/10011604611
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Monetary policy committee transparency: Measurement, determinants, and economic effects
Hayo, Bernd; Mazhar, Ummad - 2011
This paper studies monetary policy committee transparency (MPCT) based on a new index that measures central bankers' educational and professional backgrounds as disclosed through central bank websites. Based on a novel cross-sectional data set covering 75 central banks, we investigate the...
Persistent link: https://www.econbiz.de/10010286350
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The Canadian debt-strategy model: An overview of the principal elements
Bolder, David Jamieson; Deeley, Simon - 2011
As part of managing a debt portfolio, debt managers face the challenging task of choosing a strategy that minimizes the cost of debt, subject to limitations on risk. The Bank of Canada provides debt-management analysis and advice to the Government of Canada to assist in this task, with the...
Persistent link: https://www.econbiz.de/10010289664
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Central Bank Instruments, Fiscal Policy Regimes, and the Requirements for Equilibrium Determinacy
Schabert, Andreas - 2006
This paper examines the role of the monetary instrument choice for local equilibrium determinacy under sticky prices and different fiscal policy regimes. Corresponding to Benhabib et al.'s (2001) results for interest rate feedback rules, the money growth rate should not rise by more than one for...
Persistent link: https://www.econbiz.de/10010325633
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Monetary conservatism and fiscal policy
Adam, Klaus; Billi, Roberto M. - 2006
price economy with monopolistic distortions. Monetary policy determines nominal interest rates and fiscal policy provides …
Persistent link: https://www.econbiz.de/10011604709
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Monetary policy on the way out of the crisis
von Hagen, Jürgen - 2009
Senior Non-Resident Fellow Jürgen von Hagen offers his recommendations for the proper monetary policy to lead the eurozone out of the crisis. He argues that the tentative recovery in the euro area indicates that both monetary and fiscal policy can be normalised soon. However, because delaying...
Persistent link: https://www.econbiz.de/10010273710
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The Collateral Framework of the Eurosystem and Its Fiscal Implications
Eberl, Jakob Korbinian - 2016
This thesis was written by Jakob Eberl while having been a research assistant at the Center for Economic Studies (CES) at the University of Munich. It was completed in December 2015 and accepted as a doctoral thesis by the Department of Economics at the University of Munich in May 2016. The...
Persistent link: https://www.econbiz.de/10011698359
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Monetary financing in the euro area: A free lunch?
Tober, Silke - In: Intereconomics 50 (2015) 4, pp. 214-220
Two recent proposals for overcoming the euro area crisis make the case for monetary financing of the public sector. Watt proposes that the ECB finances public investment directly, while Pâris and Wyplosz contend that public debt may be effectively restructured by burying parts of it in the...
Persistent link: https://www.econbiz.de/10011773250
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Central bank haircut policy
Chapman, James; Chiu, Jonathan; Molico, Miguel - 2010
We present a model of central bank collateralized lending to study the optimal choice of the haircut policy. We show that a lending facility provides a bundle of two types of insurance: insurance against liquidity risk as well as insurance against downside risk of the collateral. Setting a...
Persistent link: https://www.econbiz.de/10010280009