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Estimating the Effects of Political Pressure on the Fed : A Narrative Approach with New Data

Drechsel, Thomas - National Bureau of Economic Research - 2024

inflation strongly and persistently, (ii) lead to statistically weak negative effects on activity, (iii) contributed to … having a stronger effect on inflation expectations. Quantitatively, increasing political pressure by half as much as Nixon …

Persistent link: https://www.econbiz.de/10014544739

Asymmetric effects of conventional and unconventional monetary policy when rates are low

Laine, Olli-Matti; Pihlajamaa, Matias - 2023 - This version: March 2023

We study asymmetric inflation effects of both conventional and unconventional monetary policy in the euro area during …

Persistent link: https://www.econbiz.de/10014231034

Quantifying the effects of the CNB's exchange rate commitment : a synthetic control method approach

Opatrny, Matej - 2016

appreciating that were put in place in 2013. I focus its on the impact on output, unemployment, and inflation. I use the synthetic … connected to disturbances created by changes in excise taxes. The effect of the commitment on inflation is positive but not …

Persistent link: https://www.econbiz.de/10011515767

The European Central Bank's QE : A New Hope

Wieladek, Tomasz - 2016

We examine the impact of the ECB's QE on Euro Area real GDP and core CPI with a Bayesian VAR, estimated on monthly data from 2012M6 to 2016M4. We assess the total impact via a counter-factual exercise, country-by-country and through alternative transmission channels. QE announcement shocks are...

Persistent link: https://www.econbiz.de/10012986934

The ECB's policy, the recovery fund and the importance of trust : the case of Greece

Dimakopoulou, Vasiliki; Oikonomidēs, Geōrgios; … - 2021

This paper, using a microfounded macroeconomic model that embeds the key features of the Greek economy, studies the efficacy of the various policy measures taken, at national and EU level, to cushion the economic effects of the pandemic shock. The paper attempts to give quantitative answers to...

Persistent link: https://www.econbiz.de/10012650611

ECB-Global : Introducing ECB's Global Macroeconomic Model for Spillover Analysis

Dieppe, Alistair - 2017

In a highly interlinked global economy a key question for policy makers is how foreign shocks and policies transmit to the domestic economy. We develop a semi-structural multi-country model with rich real and financial channels of international shock propagation for the euro area, the US, Japan,...

Persistent link: https://www.econbiz.de/10012958272

The Repeal of the Glass-Steagall Act and the Federal Reserve's Extraordinary Intervention During the Global Financial Crisis

Nersisyan, Yeva - 2015

Before the global financial crisis, the assistance of a lender of last resort was traditionally thought to be limited to commercial banks. During the crisis, however, the Federal Reserve created a number of facilities to support brokers and dealers, money market mutual funds, the commercial...

Persistent link: https://www.econbiz.de/10013029747

Learning About Policy from Federal Reserve History

Meltzer, Allan H. - 2010

The paper summarizes some of the main findings about domestic monetary policy from my three volume history. It finds that the Federal Open Market Committee concentrates excessively on the very near-term and rarely discusses medium or long-term implications. Also it has never agreed on a model...

Persistent link: https://www.econbiz.de/10013148153

The Macroeconomic Effects of the Federal Reserve's Unconventional Monetary Policies

Engen, Eric M.; Laubach, Thomas; Reifschneider, David - 2021

unconventional policy since early 2009. Our analysis suggests that the net stimulus to real activity and inflation was limited by the … occurred in the absence of the unconventional policy actions--does not occur until early 2015, while the peak inflation effect …--adding 1/2 percentage point to the inflation rate--is not anticipated until early 2016 …

Persistent link: https://www.econbiz.de/10014087877

The collateral policy of central banks : an analysis focusing on the eurosystem

Weber, Christopher - 2016

Zentralbank theoretisch zu fundieren. Sie wird dazu in Haircut- und Quantitypolicy gegliedert und klassischer Zinspolitik …

Persistent link: https://www.econbiz.de/10011741966