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What Should Central Banks Target? Evidence on the Impact of Monetary Policy Regimes on Economic Growth

Wong, Kin Ming - 2015

Economists and policy-makers have long sought the ideal framework for monetary policy as it is arguably one of the most important tools for government to influence the economy. Exchange rate and inflation are believed to be the most appealing anchors for providing guidance to the conduct of...

Persistent link: https://www.econbiz.de/10013024911

Does low inflation pose a risk to economic growth and central banks reputation?

Dąbrowski, Marek - 2020

Inflation in advanced economies is low by historical standards but there is no threat of deflation. Slower economic growth is caused by supply-side constraints rather than low inflation. Below-the-target inflation does not damage the reputation of central banks. Thus, central banks should not...

Persistent link: https://www.econbiz.de/10012230450

Macroeconomics, nonlinearities, and the business cycle

Reif, Magnus - 2019

Im Zentrum dieser Dissertation steht das Beschreiben und Erklären von Konjunkturdynamiken. Motiviert durch den außerordentlich starken wirtschaftlichen Einbruch in 2008/2009 betont die Arbeit dabei die Wichtigkeit der Nutzung von nichtlinearen Modellansätzen. Die Dissertation kann als Beitrag...

Persistent link: https://www.econbiz.de/10012154125

Exchange rate targeting versus inflation targeting : empirical analysis of the impact on employment and economic growth

Krušković, Borivoje - In: Journal of central banking theory and practice 9 (2020) 2, pp. 67-85

This paper analyses the effects of two alternative monetary strategies (exchange rate targeting and inflation targeting) on economic growth and employment. On the panel of 18 countries for the period from 1996 to 2013, I tested the hypothesis that countries in exchange rate targeting have a...

Persistent link: https://www.econbiz.de/10012305750

Nicht zu früh bremsen! : der Einfluss der Geldpolitik auf die langfristige Wirtschaftsentwicklung in Deutschland und den USA

Schettkat, Ronald; Sun, Rongrong - 2009

Europa war. Die Bundesbank –Europas „Zentralbank“ vor Etablierung der EZB- hat eine asymmetrische Geldpolitik in dem Sinne … Neutralität von Geldpolitik wurde diese bei der Suche nach den Ursachen europäischer Arbeitslosigkeit verschont. Tatsächlich … Arbeitsmarktinstitutionen. Wir argumentieren, dass das Zusammenwirken negativer Schocks und einer restriktiven Geldpolitik die wesentliche –wenn …

Persistent link: https://www.econbiz.de/10003836155

Early exit from ECB bond purchase program could reduce GDP growth and inflation

Clemens, Marius; Gebauer, Stefan; Rieth, Malte - In: DIW economic bulletin 7 (2017) 49, pp. 533-540

The European Central Bank is planning a gradual reduction of government bond purchases under the asset purchase program it initiated in 2015. The present study by the German Institute for Economic Research analyzes the potential macroeconomic implications of different exit strategies. The...

Persistent link: https://www.econbiz.de/10011750746

Secular Stagnation, R&D, Public Investment and Monetary Policy : A Global-Model Perspective

Cova, Pietro - 2017

We evaluate the global macroeconomic effects of fiscal and monetary policy measures to counterbalance secular stagnation by simulating a five-region New Keynesian model of the world economy, calibrated to the United States (US), the euro area (EA), Japan (JP), China (CH), and the rest of the...

Persistent link: https://www.econbiz.de/10012941766

Essays in monetary policy and comprehensive income accounting : inferring time-varying central bank preferences and the value of ideas

Beechey, Meredith Jane - 2005

Persistent link: https://www.econbiz.de/10003380174

Short-term forecasts of euro area GDP growth

Angelini, Elena; Camba-Méndez, Gonzalo; Giannone, Domenico - 2008

This paper evaluates models that exploit timely monthly releases to compute early estimates of current quarter GDP (now-casting) in the euro area. We compare traditional methods used at institutions with a new method proposed by Giannone, Reichlin, and Small (2005). The method consists in...

Persistent link: https://www.econbiz.de/10003794044

Growth prospects, the natural interest rate, and monetary policy

Fiedler, Salomon; Gern, Klaus-Jürgen; Jannsen, Nils; … - 2019

The recovery from the Global Financial Crisis was characterized by sluggish output growth and by inflation remaining persistently below the inflation targets of central banks in many advanced economies despite an unprecedented monetary expansion. Ten years after the Global Financial Crisis, GDP...

Persistent link: https://www.econbiz.de/10012022449

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