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The credibility of the ECB's inflation target in times of Corona : new evidence from an online survey
Coleman, Winnie; Nautz, Dieter - 2020 - This version: June 8, 2020
Evidence on the credibility of a central bank's inflation target typically refers to the anchoring of survey …-varying credibility of the inflation target. Our results indicate that credibility has significantly decreased in our sample period … below 2% for several years, credibility has declined mainly because Germans increasingly expect that inflation will be much …
Persistent link: https://www.econbiz.de/10012225643
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Monetary union and macroeconomic stabilization
Groll, Dominik - 2013
It is conventionally held that countries are worse off by forming a monetary union when it comes to macroeconomic stabilization. However, this conventional view relies on assuming that monetary policy is conducted optimally. Relaxing the assumption of optimal monetary policy not only uncovers...
Persistent link: https://www.econbiz.de/10010202935
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Monetary union and macroeconomic stabilization
Groll, Dominik - 2014 - This version: February 14, 2014
It is conventionally held that countries are worse off by forming a monetary union when it comes to macroeconomic stabilization. However, this conventional view relies on assuming that monetary policy is conducted optimally. Relaxing the assumption of optimal monetary policy not only uncovers...
Persistent link: https://www.econbiz.de/10011415479
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Monetary commitment and the level of public debt
Gnocchi, Stefano; Lambertini, Luisa - 2016
We analyze the interaction between committed monetary policy and discretionary fiscal policy in a model with public debt, endogenous government expenditures, distortive taxation and nominal rigidities. Fiscal decisions lack commitment but are Markovperfect. Monetary commitment to an interest...
Persistent link: https://www.econbiz.de/10011431600
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The Predictability of Monetary Policy
Blattner, Tobias Sebastian - 2008
circumstances and contingencies. In this broader sense, longer-term predictability is also closely related to the credibility of the …
Persistent link: https://www.econbiz.de/10012772989
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Ideology and monetary policy : the role of political parties' stances in the ECB's parliamentary hearings
Fraccaroli, Nicolò; Giovannini, Alessandro; Jamet, … - 2022
We investigate whether ideology drives the sentiments of parliamentarians when they speak to the central bank they hold accountable. To this end, we collect textual data on the quarterly hearings of the ECB President before the European Parliament from 1999 to 2019. We apply sentiment analysis...
Persistent link: https://www.econbiz.de/10012939688
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Policy Maker's Credibility with Predetermined Instruments for Forward-Looking Targets
Chatelain, Jean-Bernard; Ralf, Kirsten - 2020
credibility of stabilization policy. The backward-looking case is such that the simple-rule parameters can be the solution of …
Persistent link: https://www.econbiz.de/10014090355
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The predictability of monetary policy
Blattner, Tobias; Catenaro, Marco; Ehrmann, Michael; … - 2008
circumstances and contingencies. In this broader sense, longer-term predictability is also closely related to the credibility of the …
Persistent link: https://www.econbiz.de/10011641200
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The predictability of monetary policy
Blattner, Tobias; Catenaro, Marco; Ehrmann, Michael; … - 2008
Persistent link: https://www.econbiz.de/10013439631
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Inflation persistence and robust monetary policy design
Coenen, Günter - 2003
This paper investigates the performance of optimised interest rate rules when there is uncertainty about a key determinant of the monetary transmission mechanism, namely the degree of persistence characterising the inflation process. The paper focuses on the euro area and utilises two variants of...
Persistent link: https://www.econbiz.de/10009635885