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The Euro's savior? : assessing the ECB's crisis management performance and potential for crisis resolution
Bibow, Jörg - 2015
This study assesses the European Central Bank’s (ECB) crisis management performance and potential for crisis resolution …. The study investigates the institutional and functional constraints that delineate the ECB’s scope for policy action under … that the ECB may well stand out positively when compared to other important euro-area or national authorities involved in …
Persistent link: https://www.econbiz.de/10011349470
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Party affiliation rather than former occupation : the background of central bank governors and its effect on monetary policy
Neuenkirch, Matthias; Neumeier, Florian - 2013 - This version: 30 July 2013
In this paper, we analyze the relationship between certain characteristics of incumbent central bank governors and their interest-rate-setting behavior. We focus on (i) occupational backgrounds, (ii) party affiliation, and (iii) experience in office and estimate augmented Taylor rules for 20...
Persistent link: https://www.econbiz.de/10009775039
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Predicting monetary policy using artificial neural networks
Hinterlang, Natascha - 2020
This paper analyses the forecasting performance of monetary policy reaction functions using U.S. Federal Reserve's Greenbook real-time data. The results indicate that artificial neural networks are able to predict the nominal interest rate better than linear and nonlinearTaylor rule models as...
Persistent link: https://www.econbiz.de/10012256503
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Leaning against the parity
Ferreira, Alex Luiz - 2004
The paper presents evidence that the simultaneous relationship between uncovered interest rate parity (UIP) and a monetary policy function can explain the empirical failure of the former. Using the model proposed by McCallum (1994), we carry out tests for a sample of developed and emerging...
Persistent link: https://www.econbiz.de/10010290688
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Predicting monetary policy using artificial neural networks
Hinterlang, Natascha - 2020
This paper analyses the forecasting performance of monetary policy reaction functions using U.S. Federal Reserve's Greenbook real-time data. The results indicate that artificial neural networks are able to predict the nominal interest rate better than linear and nonlinearTaylor rule models as...
Persistent link: https://www.econbiz.de/10012254878
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Was ECB's monetary policy optimal?
Breuss, Fritz - 2002
Overall, the ECB managed monetary policy quite satisfactory in the first phase of EMU. Nevertheless, this paper asks …/2001. With a specific Taylor rule one can very well understand, how the ECB sets interest rates, but it turns out that monetary …
Persistent link: https://www.econbiz.de/10011492736
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Monetary policy between stability and growth
Fabris, Nikola - In: Journal of central banking theory and practice 13 (2024) 1, pp. 27-42
turnaround in monetary policy pursuits and a rapid rise in reference interest rates. The FED reacted much faster than the ECB and …
Persistent link: https://www.econbiz.de/10014496247
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Was ECB's Monetary Policy Optimal?
Breuss, Fritz - 2002
Overall, the ECB managed monetary policy quite satisfactory in the first phase of EMU. Nevertheless, this paper asks …/2001. With a specific Taylor rule one can very well understand, how the ECB sets interest rates, but it turns out that monetary …
Persistent link: https://www.econbiz.de/10011435104
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Will EMU Increase Eurosclerosis?
Bentolila, Samuel; Saint-Paul, Gilles - C.E.P.R. Discussion Papers - 2000
Economic and Monetary Union (EMU) depends on institutions and preferences. We then use the calibrated model to analyse how EMU …
Persistent link: https://www.econbiz.de/10005124134
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Complexity and monetary policy
Orphanides, Athanasios; Wieland, Volker - Center for Financial Studies - 2012
simple interest rate rule is employed to interpret ECB policy since 1999. An evaluation of alternative policy rules across 11 … growth as the one used to interpret ECB policy is quite robust as long as it responds to current outcomes of these variables. …
Persistent link: https://www.econbiz.de/10010958780