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The European Central Bank’s operational framework and what it is missing : this paper attempts to fill in the gaps in the European Central Bank's framework review
Gotti, Giulia; Papadia, Francesco - 2024
In March 2024, the European Central Bank published the results of a review of its operational framework. After discussing how the ECB operational framework has changed since the Great Financial Crisis, we provide an assessment of the review, which we deem as premature, and highlight some gaps it...
Persistent link: https://www.econbiz.de/10015073398
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Interest rate bands of inaction and play-hysteresis in domestic investment : evidence for the euro area
Belke, Ansgar; Frenzel Baudisch, Coletta; Göcke, Matthias - 2019
The interest rate represents an important monetary policy tool to steer investment in order to reach price stability …. Therefore, implications of the exact form and magnitude of the interest rate-investment nexus for the European Central Bank … impact of changes in the interest rate on macroeconomic investment under certainty and under uncertainty to investigate …
Persistent link: https://www.econbiz.de/10012063971
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Interest rate bands of inaction and play-hysteresis in domestic investment : evidence for the Euro area
Belke, Ansgar; Frenzel Baudisch, Coletta; Göcke, Matthias - 2019
The interest rate represents an important monetary policy tool to steer investment in order to reach price stability …. Therefore, implications of the exact form and magnitude of the interest rate-investment nexus for the European Central Bank … impact of changes in the interest rate on macroeconomic investment under certainty and under uncertainty to investigate …
Persistent link: https://www.econbiz.de/10012099559
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Interest rate bands of inaction and play-hysteresis in domestic investment : evidence for the euro area
Belke, Ansgar; Frenzel Baudisch, Coletta; Göcke, Matthias - 2019
The interest rate represents an important monetary policy tool to steer investment in order to reach price stability …. Therefore, implications of the exact form and magnitude of the interest rate-investment nexus for the European Central Bank … impact of changes in the interest rate on macroeconomic investment under certainty and under uncertainty to investigate …
Persistent link: https://www.econbiz.de/10012034406
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Interest rate bands of inaction and play-hysteresis in domestic investment : evidence for the euro area
Belke, Ansgar; Frenzel Baudisch, Coletta; Göcke, Matthias - 2019
The interest rate represents an important monetary policy tool to steer investment in order to reach price stability …. Therefore, implications of the exact form and magnitude of the interest rate-investment nexus for the European Central Bank … impact of changes in the interest rate on macroeconomic investment under certainty and under uncertainty to investigate …
Persistent link: https://www.econbiz.de/10012151693
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Interest Rate Bands of Inaction and Play-Hysteresis in Domestic Investment : Evidence for the Euro Area
Belke, Ansgar Hubertus - 2019
The interest rate represents an important monetary policy tool to steer investment in order to reach price stability …. Therefore, implications of the exact form and magnitude of the interest rate-investment nexus for the European Central Bank … impact of changes in the interest rate on macroeconomic investment under certainty and under uncertainty to investigate …
Persistent link: https://www.econbiz.de/10012863789
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International capital flows at the security level : evidence from the ECB's Asset Purchase Programme
Bergant, Katharina; Fidora, Michael; Schmitz, Martin - 2020
that euro area investors (in particular investment funds and households) actively rebal- anced away from securities …
Persistent link: https://www.econbiz.de/10012197845
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Effective monetary policy conservatism : a comparison of 11 OECD countries
Berlemann, Michael; Hilscher, Kai - 2010
Modern monetary economists argue that institutional aspects such as central bank independence and central bank conservatism play an important role for the performance of an economy. In order to be able to compare the effects of different institutions it is necessary to measure both central bank...
Persistent link: https://www.econbiz.de/10009161907
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Are Capital Inflows Expansionary or Contractionary? Theory, Policy Implications, and Some Evidence
Blanchard, Olivier J. - 2018
The workhorse open-economy macro model suggests that capital inflows are contractionary because they appreciate the currency and reduce net exports. Emerging-market policymakers however believe that inflows lead to credit booms and rising output, and the evidence appears to go their way. To...
Persistent link: https://www.econbiz.de/10012936779
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Are Capital Inflows Expansionary or Contractionary? Theory, Policy Implications, and Some Evidence
Blanchard, Olivier J. - 2016
The workhorse open-economy macro model suggests that capital inflows are contractionary because they appreciate the currency and reduce net exports. Emerging market policy makers however believe that inflows lead to credit booms and rising output, and the evidence appears to go their way. To...
Persistent link: https://www.econbiz.de/10013002152