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Euro Area monetary policy shocks: impact on financial asset prices during the crisis?
Jardet, C.; Monks, A. - Banque de France - 2014
We use high-frequency intraday interest rate data to measure euro area monetary policy shocks on the days of ECB interest rate announcements between 2002 and 2013. In line with Gürkaynak et al. (2005), we look at monetary policy shocks along two time dimensions: one related to the current level...
Persistent link: https://www.econbiz.de/10010938544
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Inflation Targeting in Colombia, 2002–12
Hofstetter, Marc; Hamann, Franz; Urrutia, Miguel - In: ECONOMIA JOURNAL OF THE LATIN AMERICAN AND CARIBBEAN … (2014)
After decades using monetary aggregates as the main instrument of monetary policy and having different varieties of crawling peg exchange rate regimes, Colombia adopted a full-fledged inflation-targeting (IT) regime in 1999, with inflation as the nominal anchor, a floating exchange rate, and the...
Persistent link: https://www.econbiz.de/10010945756
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Identifying the Interdependence between US Monetary Policy and the Stock Market
Bjørnland, Hilde C.; Leitemo, Kai - Økonomisk institutt, Universitetet i Oslo - 2005
-run and long-run restrictions that maintains the qualitative properties of a monetary policy shock found in the established … fall by 1.5 percent due to a monetary policy shock that raises the federal funds rate by ten basis points. A stock price … shock increasing stock prices by one percent leads to an increase in the interest rate of five basis points. Stock price …
Persistent link: https://www.econbiz.de/10005207304
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Identifying the interdependence between US monetary policy and the stock market
Bjørnland, Hilde C.; Leitemo, Kai - Norges Bank - 2008
-run and long-run restrictions that maintains the qualitative properties of a monetary policy shock found in the established … stock prices immediately fall by 7-9 percent due to a monetary policy shock that raises the federal funds rate by 100 basis … points. A stock price shock increasing real stock prices by one percent leads to an increase in the interest rate of close to …
Persistent link: https://www.econbiz.de/10005481436
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Identifying the interdependence between US monetary policy and the stock market
Bjørnland, Hilde; Leitemo, Kai - Suomen Pankki - 2005
-run and long-run restrictions that maintains the qualitative proper-ties of a monetary policy shock found in the established … fall by 1.5 per cent due to a monetary policy shock that raises the federal funds rate by ten basis points. A stock price … shock in-creasing stock prices by one per cent leads to an increase in the interest rate of five basis points. Stock price …
Persistent link: https://www.econbiz.de/10005423727
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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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Inflation Targeting in Colombia, 2002-2012
Hamann, Franz; Hofstetter, Marc; Urrutia, Miguel - BANCO DE LA REPÚBLICA - 2014
After decades using monetary aggregates as the main instrument of monetary policy and having different varieties of crawling peg exchange rate regimes, Colombia adopted a full-fledged inflation-targeting (IT) regime in 1999, with inflation as the nominal anchor, a floating exchange rate, and the...
Persistent link: https://www.econbiz.de/10010828188
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Monetary Policy and Excessive Bank Risk Taking
Agur, Itai; Demertzis, Maria - de Nederlandsche Bank - 2010
negative shock. …
Persistent link: https://www.econbiz.de/10008774017
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Did the Crisis Change it All? Evidence from Monetary and Fiscal Policy
Mitreska, Ana; Kadievska Vojnovic, Maja; Georgievska, Ljupka - Volkswirtschaftliche Fakultät, … - 2010
The recent financial and economic crisis has triggered bold and diverse policy responses to prevent further, sharper and prolonged adverse effects to the financial and the real sector. The measures for alleviating the cycle were a feature both of the advanced and the emerging and developing...
Persistent link: https://www.econbiz.de/10011111273
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Inflation Targeting in Colombia, 2002-2012
Hamann, Franz; Hofstetter, Marc; Urrutia, Miguel - UNIVERSIDAD DE LOS ANDES-CEDE - 2014
Abstract After decades using monetary aggregates as the main instrument of monetary policy and having different varieties of crawling peg exchange rate regimes, Colombia adopted a full-fledged inflation-targeting (IT) regime in 1999, with inflation as the nominal anchor, a floating exchange...
Persistent link: https://www.econbiz.de/10010763879