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Do financial markets allow the independence of central banks?

Miró, Damià Rey; Piffaut, Pedro; Zurdo, Ricardo Palomo - In: Journal of central banking theory and practice 13 (2024) 1, pp. 5-26

The research work presented below addresses the possible concern of central bank independence through the development and application of econometric models. The complexity of the modelling has allowed a step further in corroborating that financial independence is not only linked to the...

Persistent link: https://www.econbiz.de/10014496228

Monetary Policy and Fears of Financial Instability

Brousseau, Vincent; Detken, Carsten - 2021

consists of a self-fulfilling belief linking the stability of inflation to the smoothness of the interest rate path. A policy … focusing only on a fixed-horizon inflation forecast neglects the potential effects of this belief on the variance of inflation …

Persistent link: https://www.econbiz.de/10013320710

Monetary Policy Transmission and the Impact on Financial Markets, Inflation and the Real Economy

Van Holle, Frederiek - 2019

into account expected inflation and some measure of the expected output gap. On the other hand, realized inflation and …

Persistent link: https://www.econbiz.de/10012864709

Monetary Policy in an Era of Capital Market Inflation

Toporowski, Jan - 1999

The theory of capital market inflation argues that the values of long-term securities markets are determined by a … postulated by Keynes in his theory of the speculative demand for money. Moreover, while the increased fragility of banking is an … immediate effect, capital market inflation also creates an unstable Ponzi financing structure in the capital market as a whole …

Persistent link: https://www.econbiz.de/10014181950

Inflation: thruway of ECB's monetary policy

Seidl, Christian - 2023

Part of the present inflation is caused by the breakdown of globalization, in particular supply chains, part is caused … the past and in the presence. This paper attributes inflation decisively to the overwhelming money creation by the …

Persistent link: https://www.econbiz.de/10013553631

Frictions in the interbank market and uncertain liquidity needs : implications for monetary policy implementation

Bucher, Monika; Hauck, Achim; Neyer, Ulrike - 2014 - [rev.]

This paper shows that depending on the distribution of banks' uncertain liquidity needs and on how monetary policy is implemented, frictions in the interbank market may reinforce the effectiveness of monetary policy. These frictions imply that with its lending and deposit facilities the central...

Persistent link: https://www.econbiz.de/10010384796

Frictions in the interbank market and uncertain liquidity needs : implications for monetary policy implementation

Bucher, Monika; Hauck, Achim; Neyer, Ulrike - 2014

This paper shows that depending on the distribution of banks' uncertain liquidity needs and on how monetary policy is implemented, frictions in the interbank market may reinforce the effectiveness of monetary policy. The frictions imply that with its lending and deposit facilities the central...