Showing 1 - 10 of 7,644
Union (including the new (2021) monetary policy strategy of the Eurosystem and its implementation amidst the ‘inflation …
Persistent link: https://www.econbiz.de/10014077291
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 implementation of economic reforms under new economic policies in India was associated with a paradigmatic shift in monetary and fiscal policy. While monetary policies were solely aimed at "price stability" in the neoliberal regime, fiscal policies were characterized by the objective of...
Persistent link: https://www.econbiz.de/10010385761
Many central banks discuss the introduction of a Central Bank Digital Currency (CBDC). Empirical evidence suggests that households may differ in their willingness to hold CBDC. Against this background, this paper investigates the macroeconomic effects of different CBDC regimes in a New Keynesian...
Persistent link: https://www.econbiz.de/10014229087
In response to the COVID-19 pandemic, G7 central banks have launched asset purchase programs in anticipation of an increase in government bond offerings to finance ballooning fiscal deficits. As the volume of government bonds owned by private investors is not expected to rise during the current...
Persistent link: https://www.econbiz.de/10012833335
Employing huge economic stimulus packages was a common response of many policy leaders during the past financial crisis. In Germany for instance, the government enacted two fiscal packages with an overall volume of approximately 80 billion Euros. On the other hand, the distortions in the banking...
Persistent link: https://www.econbiz.de/10013053647
Notwithstanding the Ukrainian banking system's resilience under war, there are devaluation and inflation pressures. In … priority of inflation targeting and a freely floating exchange rate in favour of monetary financing of the budget deficit. The … slight increase of deposits rates, DGBs did not restrain inflation due to the lack of alternative monetary financing of the …
Persistent link: https://www.econbiz.de/10014263862
sustained increase in inflation. In response, the succeeding Volcker-Greenspan FOMCs rejected an activist monetary policy in … favor of a neutral policy. That policy concentrated on achieving low trend inflation and abandoned any attempt to lower … unemployment by exploiting the inflation-unemployment trade-offs promised by the Phillips curve. The success or failure of the FOMC …
Persistent link: https://www.econbiz.de/10013291209
Monetary-policy rules are attempts to cope with the implications of having a medium of exchange whose value exceeds its cost of production. Two classes of monetary rules can be identified: (1) price rules that target the value of money in terms of a real commodity, e.g., gold, or in terms of...
Persistent link: https://www.econbiz.de/10014121191
We evaluate the effects of targeted credit injections of the central bank in the euro area. The aggregate policy impacts of credit easing on financial markets, bank lending and key macroeconomic variables are measured with a novel identification approach based on high-frequency web search data....
Persistent link: https://www.econbiz.de/10014364058