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Technical advice in accordance with Article 39(b) 2 of the CRA Regulation regarding the appropriateness of the development of a European creditworthiness assessment for sovereign d...

European Securities and Markets Authority - 2014

Article 39b(2) of the CRA Regulation states that the European Commission shall adopt a report by end 2014 – after receiving ESMA’s technical advice – on the appropriateness of the development of a European creditworthiness assessment for sovereign debt.In its request for advice, the...

Persistent link: https://www.econbiz.de/10010392282

Credit Rating Agencies’ 2014 market share calculations for the purposes of Article 8d of the CRA Regulation

European Securities and Markets Authority - 2014

One of the objectives of the CRA Regulation is to increase competition in the markets for credit ratings by encouraging … issuers to use smaller credit rating agencies. To this end, Article 8d(1) of the CRA Regulation states that where issuers or … its website every year, indicating their total market share and the types of credit ratings issued. …

Persistent link: https://www.econbiz.de/10010480783

Measuring the time-inconsistency of US monetary policy

Surico, Paolo - 2003

This paper offers an alternative explanation for the behavior of postwar US inflation by measuring a novel source of monetary policy time-inconsistency due to Cukierman (2002). In the presence of asymmetric preferences, the monetary authorities end up generating a systematic inflation bias...

Persistent link: https://www.econbiz.de/10009635891

The output composition puzzle

Angeloni, Ignazio; Kashyap, Anil K.; Mojon, Benoît; … - 2003

We revisit recent evidence on how monetary policy affects output and prices in the U.S. and in the euro area. The response patterns to a shift in monetary policy are similar in most respects, but differ noticeably as to the composition of output changes. In the euro area investment is the...

Persistent link: https://www.econbiz.de/10009635907

Macroeconomic modelling of monetary policy

Klaeffling, Matt - 2003

This paper proposes a new paradigm for the analysis of monetary policy. From an econometric point of view this new approach is just as easy to implement as reduced form analysis, but is robust to the Lucas critique. It requires no explicit prior theory and yet it encompasses all standard DSGE...

Persistent link: https://www.econbiz.de/10009635920

Describing the Fed's conduct with Taylor rules

Castelnuovo, Efrem - 2003

In this paper we estimate simple Taylor rules paying particular attention to interest rate smoothing. Following English, Nelson, and Sack (2002), we employ a model in first differences to gain some insights into the presence and signifcance of the degree of partial adjustment as opposed to a...

Persistent link: https://www.econbiz.de/10009635982

Price stability and monetary policy effectiveness when nominal interest rates are bounded at zero

Coenen, Günter; Orphanides, Athanasios; Wieland, Volker - 2003

This paper employs stochastic simulations of a small structural rational expectations model to investigate the consequences of the zero bound on nominal interest rates. We ﬁnd that if the economy is subject to stochastic shocks similar in magnitude to those experienced in the U.S. over the...

Persistent link: https://www.econbiz.de/10009635983

Institutional change and economic performance in transition economies: the case of Poland

Tridico, Pasquale - 2004

Central and East European countries (CEEC) differ significantly with regards to their economic performance despite the fact that external policy prescriptions are very similar in all these countries. Extreme diversity and fragility in the performance of the main economic variables such as GDP...

Persistent link: https://www.econbiz.de/10009636774

Enlargement of the European Union

Europäische Kommission / Generaldirektion Erweiterung - 2001

Persistent link: https://www.econbiz.de/10009636776

Twinning in der Praxis

Europäische Kommission / Generaldirektion Erweiterung - 2001

Persistent link: https://www.econbiz.de/10009636780

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