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Did Monetary Laxity in Japan Cause the Bubble?
Posen, Adam S. - In: CESifo Forum 4 (2003) 4, pp. 21-26
Persistent link: https://www.econbiz.de/10005013171
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The credibility of monetary policy announcements: Empirical evidence for OECD countries since the 1960s
Belke, Ansgar; Freytag, Andreas; Keil, Jonas; … - In: International Review of Economics & Finance 33 (2014) C, pp. 217-227
and an institutional framework enforcing the commitment. We further propose a proxy variable for monetary credibility in …
Persistent link: https://www.econbiz.de/10010930983
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Central Bank Independence - Economic and Political Dimensions
Issing, Ottmar - In: National Institute Economic Review 196 (2006) 1, pp. 66-76
This article reviews the empirical evidence and theoretical arguments for central bank independence, including political economy considerations. It concludes that the optimal institutional framework to keep inflation lastingly under control is based on granting independence to central banks and...
Persistent link: https://www.econbiz.de/10010631143
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Reflections on the Current Fashion For Central Bank Independence
Bibow, Jörg - EconWPA - 2001
This paper challenges the time-inconsistency case for central bank independence. It argues that the time-inconsistency literature not only seriously confuses the substance of the rules versus discretion debate, but also posits an implausible view of monetary policy. Most worrisome, the...
Persistent link: https://www.econbiz.de/10005561151
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Europe, Time to Wake Up! Change of monetary policy instruments — reduction of public debt (interest burdens), system of fiscal and monetary objectives — central bank independence...
Bánfi, Tamás; Bánfi, Attila; Bánfi, Zoltán - In: Public Finance Quarterly 58 (2013) 2, pp. 219-229
The economic crisis arising in 2008 has severely limited the options of economic policy in Hungary. The absence of fiscal expansion, and deficiencies in the coordination of fiscal and monetary policy have had a negative impact on the effectiveness of measures in economic policy to boost economic...
Persistent link: https://www.econbiz.de/10010826233
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Gefährdet der Ankauf von Staatsanleihen die Unabhängigkeit der EZB?
Sauer, Beate - In: Credit and Capital Markets 46 (2013) 1, pp. 29-52
Since May 2010 at the latest, the ECB has been criticized for financing government bonds – at least indirectly – and for tolerating to be put under pressure by the fiscal side. The ECB itself has justified its securities markets programme and, thus, its government bond purchases by the need...
Persistent link: https://www.econbiz.de/10010757748
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Glaubwürdigkeit der Geldpolitik : eine empirische Analyse unter besonderer Berücksichtigung der Europäischen Zentralbank
Hamella, Sandra - ifo Leibniz-Institut für Wirtschaftsforschung an der …
Geldpolitik mit Hilfe von qualitativen Befragungsdaten. Besonderes Augenmerk liegt dabei auf der Untersuchung der Glaubwürdigkeit … der Europäischen Zentralbank (EZB), die als vergleichsweise junge Institution Reputation aufbauen muss. Grundlage der … Arbeit ist eine im Rahmen des World Economic Survey des ifo Instituts für Wirtschaftsforschung, München, durchgeführte …
Persistent link: https://www.econbiz.de/10008791353
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Effects of reputation and credibility on monetary policy: theory and evidence for Brazil Abstract Purpose-The purpose of this paper is to demonstrate that both the reputation of th...
Montes, Gabriel Caldas; Bastos, Julio Cesar Albuquerque - In: Journal of Economic Studies 3 (2014), pp. 387-387
Persistent link: https://www.econbiz.de/10010933488
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Social Trust and Central-Bank Independence
Berggren, Niclas; Daunfeldt, Sven-Olof; Hellström, Jörgen - Institutet för Näringslivsforskning (IFN) - 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/10010699278
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Central Bank Financial Strength and Credibility: A Simple Dynamic Optimization Model
Tanaka, Atsushi - School of Economics, Kwansei Gakuin University - 2013
credibility. We discuss some factors affecting the transversality condition and show that what is important to satisfy the … condition and thus to maintain central bank credibility is not capital alone but the financial strength that generates no …
Persistent link: https://www.econbiz.de/10010632970