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The Logic and Limits of the Federal Reserve Act

Menand, Lev - 2022

Over the past fourteen years, the U.S. Federal Reserve has rescued overleveraged financial companies, purchased trillions of dollars of mortgage-backed securities, and created novel facilities to support ordinary businesses, nonprofits, and local governments. While some argue that the Fed has...

Persistent link: https://www.econbiz.de/10013301921

How Elastic and Predictable Money Should Be : Flexible Monetary Policy Rules from the Great Moderation to the New Normal Times (1993-2023)

Masciandaro, Donato - 2023

The never ending debate on the optimal money elasticity and predictability, coupled with the recent wishes of the major central banks to normalize monetary policy, as well as to revise their best practices, motivate this paper. Its aim is to offer a review of the evolution of the modern concept...

Persistent link: https://www.econbiz.de/10014257290

Quasi Independence of Most Central Banks : Implications for Monetary Policy in Advanced Countries and Beyond

Ng, Wenfa - 2016

Persistent link: https://www.econbiz.de/10012979619

The European Central Bank’s Intricate Independence Versus Accountability Conundrum in the Post-Crisis Governance Framework

Amtenbrink, Fabian - 2019

legitimacy. A new generation of researchers, witnessing and in part affected by the course of events during the crisis, is … the ECB has transformed significantly during the crisis, not only raising concerns about the legitimacy of the position … discussing main determinants of the independence and democratic legitimacy of the ECB today, as well as identifying risks …

Persistent link: https://www.econbiz.de/10012889396

The German Federal Constitutional Court ruling and the European Central Bank's strategy

Feld, Lars P.; Wieland, Volker - 2020

The ruling of the German Federal Constitutional Court and its call for conducting and communicating proportionality assessments regarding monetary policy have been the subject of some controversy. However, it can also be understood as a way to strengthen the de-facto independence of the European...

Persistent link: https://www.econbiz.de/10012303171

The German Federal Constitutional Court ruling and the European Central Bank's strategy

Feld, Lars P.; Wieland, Volker - 2020

Persistent link: https://www.econbiz.de/10012309417

Unconventional Monetary Policy of the ECB during the Financial Crisis : An Assessment and New Evidence

Pattipeilohy, Christiaan - 2013

We first sketch how central banks have used unconventional monetary policy measures by using three indicators based on the composition of the balance sheet of eleven central banks. Our analysis suggests that although the ECB's balance sheet has increased dramatically during the crisis, the...

Persistent link: https://www.econbiz.de/10013080630

Rules versus human beings, and the mandate of the ECB

Fratzscher, Marcel - 2015

The actions by the European Central Bank (ECB) during the global and European crises have triggered a highly controversial debate, in particular in Germany, about the costs and benefits of the chosen policy path. The paper reviews, compares and evaluates the different arguments made in favour...

Persistent link: https://www.econbiz.de/10011651154

Causes of the outbreak of the Eurozone crisis : the role of the USA and the European Central Bank monetary policy

Białek, Natalia - In: E-Finanse : finansowy kwartalnik internetowy 11 (2015) 2, pp. 47-63

This paper argues that the loose monetary policy of two of the world’s most important financial institutions-the US Federal Reserve Board and the European Central Bank-were ultimately responsible for the outburst of global financial crisis of 2008 - 09. Unusually low interest rates in 2001 -...

Persistent link: https://www.econbiz.de/10011402491

The Future of Central Banking Under Post-Crisis Mandates

Cecchetti, Stephen G. - 2013

On 24-25 June 2010, the BIS held its Ninth Annual Conference, on "The future of central banking under post-crisis mandates" in Lucerne, Switzerland. The event brought together senior representatives of central banks and academic institutions who exchanged views on this topic. This volume...

Persistent link: https://www.econbiz.de/10013092148

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