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Central Bank accountability and transparency: theory and some evidence
Eijffinger, Sylvester C. W.; Hoeberichts, Marco - 2000
Geldpolitik und die Frage, wer die endgültige Verantwortung für die Geldpolitik trägt. Das Papier zeigt auf, dass die …
Persistent link: https://www.econbiz.de/10010295694
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Exchange rate dynamics, expectations, and monetary policy
Chen, Qianying - 2011
This paper re-investigates the implications of monetary policy rules on changes in exchange rate, in a risk-adjusted, uncovered interest parity model with unrestricted parameters, emphasizing the importance of modeling market expectations of monetary policy. I use consensus forecasts as a proxy...
Persistent link: https://www.econbiz.de/10010305998
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The Stabilizing Properties of Floating Exchange Rates: Some International Evidence
Bergvall, Anders - 2002
This paper analyzes the stabilizing properties of alternative monetary policy regimes. In practice there is a choice between two broad types of monetary policy regimes: a fixed exchange rate regime or a floating exchange rate regime. In this paper I compare exchange rate targeting with different...
Persistent link: https://www.econbiz.de/10010321739
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Unions, wage setting and monetary policy uncertainty
Grüner, Hans Peter; Hayo, Bernd; Hefeker, Carsten - 2005
Recent theoretical research has studied extensively the link between wage setting and monetary policymaking in unionized economies. This paper addresses the question of the role of monetary uncertainty from both an empirical and theoretical point of view. Our analysis is based on a simple model...
Persistent link: https://www.econbiz.de/10011604536
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Unconventional monetary policy and the great recession - Estimating the impact of a compression in the yield spread at the zero lower bound
Baumeister, Christiane; Benati, Luca - 2010
We explore the macroeconomic impact of a compression in the long-term bond yield spread within the context of the Great Recession of 2007-2009 via a Bayesian time-varying parameter structural VAR. We identify a ‘pure’ spread shock which, leaving the short-term rate unchanged by construction,...
Persistent link: https://www.econbiz.de/10011605304
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Dancing together at arm’s length? – The interaction of central banks with governments in the G7
Bodea, Cristina; Huemer, Stefan - 2010
Central bank independence is a common feature in advanced economies. Delegation of monetary policy to an independent central bank with a clear mandate for price stability has proven to be successful in keeping a check on inflation and providing a trusted currency. However, it is also a fact that...
Persistent link: https://www.econbiz.de/10011606272
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Geldpolitik und Vermögensmärkte
Dreger, Christian; Wolters, Jürgen - In: Vierteljahrshefte zur Wirtschaftsforschung 78 (2009) 1, pp. 56-65
. Andererseits wäre im Fall steigender Vermögenspreise eine restriktivere Geldpolitik erforderlich, die die Dynamik von Produktion … die USA, den Euroraum, Japan und Großbritannien spezifiziert. Während die Geldpolitik keinen Einfluss auf die Entwicklung … eine restriktivere Geldpolitik bei nicht fundamental begründeten Preissteigerungen tatsächlich dämpfend auf die Entwicklung …
Persistent link: https://www.econbiz.de/10010377866
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Do central banks react to house prices?
Finocchiaro, Daria; Queijo von Heideken, Virginia - 2007
The substantial fluctuations in house prices recently experienced by many industrialized economies have stimulated a vivid debate on the possible implications for monetary policy. In this paper, we ask whether the U.S. Fed, the Bank of Japan and the Bank of England have reacted to house prices....
Persistent link: https://www.econbiz.de/10010320802
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Transmission de la politique monétaire et crédit bancaire : une application à cinq pays de l'OCDE
Barrán Cabrera, Fernando; Coudert, Virginie; Mojon, Benoît - 1994
Persistent link: https://www.econbiz.de/10000890127
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Monetary policy and financial innovations in five industrial countries : the U.K., the U.S.A., West Germany, France and Japan
Frowen, Stephen F. (ed.) - 1992
Persistent link: https://www.econbiz.de/10000826796