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Forecasting the central bank’s inflation objective is a good rule of thumb

Diron, Marie; Mojon, Benoît - 2005

This paper first shows that the forecast error incurred when assuming that future inflation will be equal to the inflation target announced by the central bank is typically at least as small and often smaller than forecast errors of model-based and published inflation forecasts. It then shows...

Persistent link: https://www.econbiz.de/10011604610

Monetary target announcements, reputation and hysteresis

Grüner, Hans Peter - 1994

Two signaling games of monetary policy are considered: game one examines the effect of hysteresis on the labor market on the results of the repeated monetary policy game. Disciplinary effects of reputation disappear in presence of hysteresis. The second game compares weifare effects of monetary...

Persistent link: https://www.econbiz.de/10010397973

Social Trust and Central-Bank Independence

Berggren, Niclas; Daunfeldt, Sven-Olof; Hellström, Jörgen - 2012

credibility (or lack-of-trust) problem for monetary policy. This indicates a possible and until now unexplored link between social …

Persistent link: https://www.econbiz.de/10010320270

Corporate ‘excesses’ and financial market dynamics

Maddaloni, Angela; Pain, Darren - 2004

The recent corporate failures in the US and in Europe have considerably damaged investors’ confidence in the functioning of financial markets and the ability of the regulatory framework to safeguard their interest and prevent fraud. These episodes demonstrate that market failures exist, which...

Persistent link: https://www.econbiz.de/10011606169

Quasirenten, Prüferwechsel und rationale Adressaten

Stefani, Ulrike - 1999

In der Literatur zur Abschlußprüfung ist ein negativer Effekt eines ökonomischen Vorteils aus der wiederholten Mandatsannahme, der aufgrund von Transaktionskosten entsteht, auf die Unabhängigkeit des Abschlußprüfers diskutiert worden. Anders als die bisher vorgestellten Ansätze wird im...

Persistent link: https://www.econbiz.de/10010316294

Internal vs. external corporate social responsibility at U.S. banks

Bolton, Brian - In: International Journal of Financial Studies 8 (2020) 4, pp. 1-28

This study analyzes the effect that banks' investments in corporate social responsibility (CSR) have on bank performance. I find that banks' investments in CSR have a positive impact on financial performance, measured in terms of both accounting performance and stock market value. However, not...

Persistent link: https://www.econbiz.de/10013200312

Monetary policy and capital regulation in the US and Europe

Cohen-Cole, Ethan; Morse, Jonathan - 2010

From the onset of the 2007-2009 crisis, the Federal Reserve and the European Central Bank have aggressively lowered … interest rates. Both sets of changes are at odds with an anti-inflationary stance of monetary policy; indeed, as the crisis … Taylor rules for our economy that are consistent with a strong pro-inflationary reaction during financial crisis while …

Persistent link: https://www.econbiz.de/10011605268

Financial Development, Economic Growth and Corporate Governance

Winkler, Adalbert - 1998

During the last years the relationship between financial development and economic growth has received widespread attention in the literature on growth and development. This paper summarises in its first part the results of this research, stressing the growth-enhancing effects of an increased...

Persistent link: https://www.econbiz.de/10010330134

Structures and Trends in German Banking

Koetter, Michael; Nestmann, Thorsten; Stolz, Stéphanie; … - 2004

In this paper, we investigate the claim that German banks are special compared to banks in other industrialised economies. We show that banks are of particular importance to the German economy?as financial intermediary, as lender to the corporate sector, and as part of the corporate governance...

Persistent link: https://www.econbiz.de/10010260503

The Failure of Northern Rock: A multi-dimensional Case Study

Congdon, Tim; Goodhart, Charles A.E.; Eisenbeis, Robert A. - 2009

In August 2007 the United Kingdom experienced its first bank run in over 140 years. Although Northern Rock was not a particularly large bank (it was at the time ranked 7th in terms of assets) it was nevertheless a significant retail bank and a substantial mortgage lender. In fact, ten years...

Persistent link: https://www.econbiz.de/10011689937

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