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Micro Data on Nominal Rigidity, Inflation Persistence and Optimal Monetary Policy

Kara, Engin - 2010

The popular Calvo model with indexation (Christiano, Eichenbaum and Evans, 2005) and sticky information (Mankiw and Reis, 2002) model have guided much of the monetary policy discussion. The strength of these approaches is that they can explain the persistence of inflation. However, both of these...

Persistent link: https://www.econbiz.de/10013137714

Money-Based Interest Rate Rules : Lessons from German Data

Gerberding, Christina - 2016

The paper derives the monetary policy reaction function implied by money growth targeting. It consists of an interest rate response to deviations of the inflation rate from target, to the change in the output gap, to money demand shocks and to the lagged interest rate. In the second part, it is...

Persistent link: https://www.econbiz.de/10012991152

Simple Interest Rate Rules with a Role for Money

Scharnagl, Michael - 2016

The paper analyses the performance of simple interest rate rules which feature a response to noisy observations of inflation, output and money growth. The analysis is based on a small empirical model of the hybrid New Keynesian type which has been estimated on euro area data by Stracca (2007)....

Persistent link: https://www.econbiz.de/10012991255

Fiscal policy in the macroeconomic policy mix : a critique of the new consensus model and a comparison of macroeconomic policies in France, Germany, the UK and Sweden from a post-K...

Hein, Eckhard; Truger, Achim - 2008

ausschließlichen Konzentration auf die Geldpolitik als Stabilisierungsinstrument, wegen seiner mangelhaften Berücksichtigung der Rolle … von Löhnen und der Lohnpolitik und wegen seiner kompletten Vernachlässigung der stabilisierenden Rolle der Finanzpolitik …. Aus Post-Keynesianischer Sicht wird gezeigt, dass die Finanzpolitik eine wichtige Rolle für die makroökonomische …

Persistent link: https://www.econbiz.de/10003744540

Ordoliberalism, pragmatism and the eurozone crisis : how the German tradition shaped economic policy in Europe

Feld, Lars P.; Köhler, Ekkehard A.; Nientiedt, Daniel - 2015

German policy during the Eurozone crisis supposedly follows an ordoliberal tradition. In this paper, we discuss to what extent this contention holds and to what extent Germany pragmatically responded to different crisis phenomena. A proper analysis of ordoliberal thinking reveals that the...

Persistent link: https://www.econbiz.de/10011280050

Ordoliberalism, pragmatism and the Eurozone crisis : how the German tradition shaped economic policy in Europe

Feld, Lars P.; Köhler, Ekkehard A.; Nientiedt, Daniel - 2015 - This version: May 18, 2015

Persistent link: https://www.econbiz.de/10010528303

The "dark ages" of German macroeconomics and other alleged shortfalls in German economic thought

Feld, Lars P.; Köhler, Ekkehard A.; Nientiedt, Daniel - 2017

Ordoliberalism is often accused as being responsible for Germany's policy stance during the Eurozone crisis. Ordoliberalism originates from the so-called Freiburg School of Economics, founded by Walter Eucken during the 1930s at the University of Freiburg, which is in fact in Germany. It is...

Persistent link: https://www.econbiz.de/10011743490

How Loose, How Tight? A Measure of Monetary and Fiscal Stance for the Euro Area

Batini, Nicoletta - 2020

This paper builds a model-based dynamic monetary and fiscal conditions index (DMFCI) and uses it to examine the evolution of the joint stance of monetary and fiscal policies in the euro area (EA) and in its three largest member countries over the period 2007-2018. The index is based on the...

Persistent link: https://www.econbiz.de/10012828229

The reputation of a newborn central bank

Rotondi, Zeno; Vaciago, Giacomo - In: Quarterly review / Banca Nazionale del Lavoro, Roma 56 (2003), pp. 3-22

Persistent link: https://www.econbiz.de/10001781302

Fonctions de réaction des Banques centrales : Etats-Unis, Allemagne, Royaume-Uni, Japon

Raynaud, Emilie - 2001

Persistent link: https://www.econbiz.de/10001575868

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