Narrow search
Showing 1 - 10 of 19,655
Cover Image
Monetary policy rules and the effective lower bound in the Euro area
Haavio, Markus; Laine, Olli-Matti - 2021
We analyze the economic performance of di§erent monetary policy strategies, or rules, in a low interest rate environment, using simulations with a DSGE model which has been estimated for the euro area. We study how often the e§ective lower bound of interest rates (ELB) is likely to bind, and...
Persistent link: https://www.econbiz.de/10012499974
Cover Image
A small estimated euro area model with rational expectations and nominal rigidities
Coenen, Günter; Wieland, Volker - 2003
In this paper we estimate a small model of the euro area to be used as a laboratory for evaluating the performance of alternative monetary policy strategies. We start with the relationship between output and inflation and investigate the fit of the nominal wage contracting model due to Taylor...
Persistent link: https://www.econbiz.de/10009765350
Cover Image
The design of a 'two-pillar' monetary policy strategy
Dai, Meixing - 2009
, this study shows how a two-pillar monetary policy strategy as practiced by the European central bank (ECB) can be conceived … growth rate corresponding to inflation target could reinforce the credibility of central bank announcements and the role of …. Three feedback monetary targeting rules, of which the design depends on economic structure and central bank preferences, are …
Persistent link: https://www.econbiz.de/10003847261
Cover Image
How should large and small countries be represented in a currency union?
Berger, Helge; Müller, Till - 2004
representation in a federal central bank addressing this question. Optimal voting weights reflect two opposing forces: the wish to … Bundesbank and not always optimal. -- Central Bank ; Federal Central Bank ; currency union ; optimal representation ; voting …
Persistent link: https://www.econbiz.de/10009303502
Cover Image
A dynamic yield curve model with stochastic volatility and non-Gaussian interactions : an empirical study of non-standard monetary policy in the euro area
Mesters, Geert; Schwaab, Bernd; Koopman, Siem Jan - 2014
yields in Germany, France, Italy and Spain have been affected by monetary policy measures of the European Central Bank. We …
Persistent link: https://www.econbiz.de/10010362975
Cover Image
Monetary policy in EMU when the transmission is asymmetric and uncertain
De Grauwe, Paul; Sénégas, Marc-Alexandre - 2003
In this paper we address the issue of how transmission uncertainty could affect the choice between a federal monetary policy based on national data and one on aggregated data.We find that the uncertainty about the transmission process increases the need to take into account information about...
Persistent link: https://www.econbiz.de/10011506467
Cover Image
Optimal Monetary and Fiscal Policy in the EMU : Does Fiscal Policy Coordination Matter?
Forlati, Chiara - 2011
coordinated. Indeed, in that case the common central bank does not stabilize the average union inflation as if it were in a closed …
Persistent link: https://www.econbiz.de/10013134297
Cover Image
Estimation of Monetary Policy Preferences in a Forward-Looking Model : A Bayesian Approach
Ilbas, Pelin - 2010
In this paper we adopt a Bayesian approach towards the estimation of the monetary policy preference parameters in a general equilibrium framework. We start from the model presented by Smets and Wouters (2003) for the euro area where, in the original set up, monetary policy behaviour is described...
Persistent link: https://www.econbiz.de/10013137593
Cover Image
Output Gaps and Robust Monetary Policy Rules
Billi, Roberto M. - 2012
central bank's ability to stimulate the economy during downturns. In such an environment, greater policy stimulus may be …
Persistent link: https://www.econbiz.de/10013104578
Cover Image
Has the EMU Reduced Wage Growth and Unemployment? Testing a Model of Trade Union Behaviour
Mikosch, Heiner - 2013
centralization lets the central bank react less flexibly to national business cycle movements. This increases the amplitude of …
Persistent link: https://www.econbiz.de/10013093430