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The monetary policy of the European Central Bank : strategy and implementation ; the European Monetary Union

Issing, Otmar - In: CESifo Forum 1 (2000) 2, pp. 3-9

Persistent link: https://www.econbiz.de/10004998595

Future challenges for the ECB : the European Monetary Union

Remsperger, Hermann - In: CESifo Forum 1 (2000) 2, pp. 10-17

Persistent link: https://www.econbiz.de/10004998676

Imperfect Competition, Monetary Policy and Welfare in a Currency Area

Lombardo, Giovanni - Deutsche Bundesbank - 2002

auf die Wohlfahrt und die optimale Geldpolitik. Betrachtet werden zwei Möglichkeiten, wie die Wettbewerbsintensität am … die Geldpolitik effektiver sein, wenn die Länder größere Asymmetrien aufweisen. Diese Ergebnisse legen es nahe, dass die … intensiver ist. Die optimale Geldpolitik der Zentralbank der Währungsunion wird ermittelt und mit einer einfachen Taylor …

Persistent link: https://www.econbiz.de/10005083139

Taylor-Regel und Subprime-Krise - Eine empirische Analyse der US-amerikanischen Geldpolitik

Erler, Alexander; Krizanac, Damir - Volkswirtschaftliche Fakultät, … - 2009

This paper examines the impact of the U.S. monetary policy on the Subprime mortgage crisis using a modified taylor rule. The main finding is that during the pre-crisis period the short term rate deviated significantly from the estimated taylor rate. This deviation may have been a cause of the...

Persistent link: https://www.econbiz.de/10008458491

Geldpolitik und vorausschauende Taylor-Regeln ; Theorie und Empirie am Beispiel der Deutschen Bundesbank

Kamps, Christophe; Pierdzioch, Christian - Institut für Weltwirtschaft (IfW) - 2002

In diesem Beitrag wird aufgezeigt, dass sich die Geldpolitik der Deutschen Bundesbank im Zeitraum 1991 bis 1998 gut mit … period 1991 to 1998. The estimation results show that the Bundesbank stabilized both inflation and the output gap in the 1990 …

Persistent link: https://www.econbiz.de/10005818912

An Empirical Analysis of the Austrian Business Cycle Theory

Luther, William; Cohen, Mark - In: Atlantic Economic Journal 42 (2014) 2, pp. 153-169

The Austrian economists Ludwig von Mises and Friedrich A. Hayek developed a unique theory of the business cycle. In their view, an unsustainable boom ensues when the rate of interest prevailing in the market falls below the natural rate. The boom is characterized not only by an increase in...

Persistent link: https://www.econbiz.de/10010989100

El nivel de precios, la política monetaria y la regla de Taylor en una economía IS/LM de precios flexibles

Lizarazu Alanez, Eddy - In: Revista Nicolaita de Estudios Económicos VIII (2013) 2, pp. 7-34

We study a flexible price IS/LM economy in which the money supply and interest rate play the role of monetary policy instruments. If the central bank sets the nominal interest rate, the ambiguity in the price level is manifested. However, the equilibrium price level is permissible, if the...

Persistent link: https://www.econbiz.de/10010991609

The Fed’s TRAP

Erler, Alexander; Drescher, Christian; Križanac, Damir - In: Journal of Economics and Finance 37 (2013) 1, pp. 136-149

The article examines if US monetary policy implicitly responds to asset price booms. Using real-time data and a GMM framework we estimate a Taylor-type rule with an asset variable that captures phases of booms and busts in the real estate market. We identify quasi real-time booms and busts using...

Persistent link: https://www.econbiz.de/10010998980

Should monetary policy lean against the wind? - an analysis based on a DSGE model with banking

Gambacorta, Leonardo; Signoretti, Federico M - Bank for International Settlements (BIS) - 2013

The global financial crisis has reaffirmed the importance of financial factors for macroeconomic fluctuations. Recent work has shown how the conventional pre-crisis prescription that monetary policy should pay no attention to financial variables over and above their effects on inflation may no...

Persistent link: https://www.econbiz.de/10010849802

Forward-Looking and Backward-Looking Taylor Rules: Evidence from Pakistan

Tahir, Nadia - In: Lahore Journal of Economics 18 (2013) 2, pp. 121-145

This study uses the forward-looking rule and backward-looking Taylor rule to investigate the conduct of monetary policy in Pakistan during 1971–2011. We compare the pre- and post-reform periods, and find that the estimates obtained using the generalized method of moments indicate that no...

Persistent link: https://www.econbiz.de/10010861915

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