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Populism, Financial Inequality and Central Bank Independence : A Political Economics Approach

Masciandaro, Donato - 2018

This paper examines myopic, populist policies that guarantee short-term financial protection of the people from the elite without regard for long-term fiscal or monetary distortions. Assuming that citizens are financially heterogeneous, this paper shows that inefficient outcomes can arise when...

Persistent link: https://www.econbiz.de/10012922659

Review essay : Central banking in Italy

Maes, Ivo - 2023

Gianni Toniolo was one of Italy's, and Europe's, foremost economic historians. Unfortunately, he suddenly passed away … of Italy, Storia della Banca d'Italia. Tomo I. Formazione ed evoluzione di una banca centrale, 1893-1943 (History of the … Bank of Italy. Part I. Formation and evolution of a central bank, 1893-1943). Toniolo's history of the Bank of Italy …

Persistent link: https://www.econbiz.de/10014343128

The information content of survey data on expected price developments for monetary policy

Gerberding, Christina - 2001

to medium-run development of consumer prices in Germany, France and Italy. Furthermore, the analysis of the process of …-Verbraucherumfrage ermittelten Daten und die von Consensus Economics erhobenen Expertenprognosen für Deutschland, Frankreich und Italien. Die …

Persistent link: https://www.econbiz.de/10011419361

Financial stability and monetary policy

Hellwig, Martin - 2015 - This version: April 1, 2015

The paper gives an overview over issues concerning the role of financial stability in monetary policy. Historically, financial stability has figured highly among central banks ́objectives, with policy measures ranging from interest rate stabilization to serving as a lender of the last resort....

Persistent link: https://www.econbiz.de/10011301235

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

Shadow banking : policy challenges for central banks

Moe, Thorvald - 2014

Central banks responded with exceptional liquidity support during the financial crisis to prevent a systemic meltdown. They broadened their tool kit and extended liquidity support to nonbanks and key financial markets. Many want central banks to embrace this expanded role as "market maker of...

Persistent link: https://www.econbiz.de/10010356675

The coming US interest rate tightening cycle : smooth sailing or stormy waters?

Arteta, Carlos Ó.; Kose, M. Ayhan; Ohnsorge, Franziska; … - 2015

The U.S. Federal Reserve (Fed) is expected to start raising policy interest rates in the near term and thus commence a tightening cycle for the first time in nearly a decade. The taper tantrum episode of May-June 2013 is a reminder that even a long anticipated change in Fed policies can trigger...

Persistent link: https://www.econbiz.de/10011389408

Climate change and monetary policy in the euro are

2021

This paper analyses the implications of climate change for the conduct of monetary policy in the euro area. It first investigates macroeconomic and financial risks stemming from climate change and from policies aimed at climate mitigation and adaptation, as well as the regulatory and fiscal...

Persistent link: https://www.econbiz.de/10012650745

Macroprudential policy in central banks: integrated or separate? : survey among academics and central bankers

Malovaná, Simona; Hodula, Martin; Gric, Zuzana; … - 2022

We surveyed experts from academia, central banks and other regulatory institutions on the preferred institutional setup of macroprudential policy and the underlying interactions stemming from the conduct of monetary and macroprudential policy. We find substantial support for the integration...

Persistent link: https://www.econbiz.de/10013191391

Can unconventional monetary policy contribute to climate action?

Eliet-Doillet, Alice; Maino, Andrea - 2022

This paper investigates the impact of central banks when supporting policies aiming at greening the financial system. The July 2021 Monetary Policy Strategy Review of the European Central Bank unexpectedly dedicated a whole workstream to climate change. The announcement had a significant effect...

Persistent link: https://www.econbiz.de/10013192095

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