Narrow search
Showing 1 - 10 of 25,699
Cover Image
Alternative Indicator of Moneary Policy for a Small Open Economy
Cuche, Nicolas A. - 2000
economy. We use a two-stage non-recursive VAR model to identify monetary shocks. We construct then various overall monetary …We analyze several identification frameworks based on operating procedures to measure monetary policy in a small open …. Finally, our model is applied to the Swiss National Bank. Our main indicator reveals that the exchange rate was the dominant …
Persistent link: https://www.econbiz.de/10011430022
Cover Image
Alternative indicator of monetary policy for a small open economy
Cuche-Curti, Nicolas A. - 2000
economy. We use a two-stage non-recursive VAR model to identify monetary shocks. We construct then various overall monetary …We analyze several identification frameworks based on operating procedures to measure monetary policy in a small open …. Finally, our model is applied to the Swiss National Bank. Our main indicator reveals that the exchange rate was the dominant …
Persistent link: https://www.econbiz.de/10011398253
Cover Image
Monetary policy and hysteresis in potential output
Kienzler, Daniel; Schmid, Kai D. - 2013
propagation of macroeconomic shocks and persistent movements in output after monetary shocks. Our central policy implication of …
Persistent link: https://www.econbiz.de/10009772964
Cover Image
Superstar central bankers : conference paper
Neuenkirch, Matthias; Tillmann, Peter - 2014
The personalities of central bankers moved center stage during the recent financial crisis. Some central bankers even gained "superstar" status. In this paper, we evaluate the pivotal role of superstar central bankers by assessing the difference an outstanding governor makes to economic...
Persistent link: https://www.econbiz.de/10010487271
Cover Image
Complexity and monetary policy
Orphanides, Athanasios; Wieland, Volker - 2012
The complexity resulting from intertwined uncertainties regarding model misspecification and mismeasurement of the state of the economy defines the monetary policy landscape. Using the euro area as laboratory this paper explores the design of robust policy guides aiming to maintain stability in...
Persistent link: https://www.econbiz.de/10010392194
Cover Image
Monetary policy disconnect
Ballensiefen, Benedikt; Ranaldo, Angelo; Winterberg, Hannah - 2020 - This version: December 11, 2020
Although designed to support monetary policy, two crucial aspects of the central bank framework can disconnect the monetary policy transmission: banks' access to central bank deposits and Quantitative Easing (QE). We show how both hinder the monetary policy transmission through the main...
Persistent link: https://www.econbiz.de/10012387237
Cover Image
Central Bank communication and monetary policy predictability under uncertain economic conditions
Lehtimäki, Jonne O.; Palmu, Marianne - In: Journal of central banking theory and practice 8 (2019) 2, pp. 3-32
central bank communication during times of financial crisis. This is done by constructing an indicator to measure the … indicator is studied with ordered probit methods. The results show that predictability was reached relatively well at central …
Persistent link: https://www.econbiz.de/10012016799
Cover Image
Independence, conservatism and beyond : Central Bank design and central banker preferences in monetary policy economics (1981-2019)
Masciandaro, Donato - 2020
Using a political economy approach, this paper sheds light on how two factors – central bankers' preferences and the central bank's design – progressively assumed a crucial role in the evolution of monetary policy economics in the last four decades. The two factors jointly identify the...
Persistent link: https://www.econbiz.de/10012210741
Cover Image
How Important is Money in the Conduct of Monetary Policy?
Woodford, Michael - 2006
This paper was presented as the 2006 W.A. Mackintosh Lecture at Queen's University. I consider some of the leading arguments for assigning an important role to tracking the growth of monetary aggregates when making decisions about monetary policy. First, I consider whether ignoring money means...
Persistent link: https://www.econbiz.de/10011940718
Cover Image
Monetary persistence, imperfect competition, and staggering complementarities
Merkl, Christian; Snower, Dennis J. - 2005
This paper explores the influence of wage and price staggering on monetary persistence. First, our analysis indicates that the degree of monetary persistence generated by wage vis-à-vis price staggering depends on the relative competitiveness of the labor and product markets. We show that the...
Persistent link: https://www.econbiz.de/10010277975