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Central banks and inflation : where do we stand and how did we get here?

Whelan, Karl - 2021

The inability of central banks to attain their target inflation rates in recent years has raised questions about the … extent to which central banks can control the inflation process. This paper discusses the evolution of thought and evidence … since the 1960s on the determinants of inflation and the role that should be played by central banks. The paper highlights …

Persistent link: https://www.econbiz.de/10012615951

Does social trust speed up reforms? : the case of central-bank independence

Berggren, Niclas; Daunfeldt, Sven-Olov; Hellström, Jörgen - 2015

Many countries have undertaken central-bank independence reforms, but the years of implementation differ. What explains such differences in timing? This is of interest more broadly, as it sheds light on factors that matter for the speed at which economic reforms come about. We study a rich set...

Persistent link: https://www.econbiz.de/10010459611

The quality of eligible collateral and monetary stability : an empirical analysis

Lehmbecker, Philipp - 2008

investigates to what extent the quality of eligible collateral is able to explain inflation employing the first comprehensive … statistically significant correlation between QEC and average inflation is found. This result is robust to the use of control …

Persistent link: https://www.econbiz.de/10010206377

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

Inflation targeting as a shock absorber

Fratzscher, Marcel; Große Steffen, Christoph; Rieth, Malte - 2018

We study the characteristics of inflation targeting as a shock absorber, using quarterly data for a large panel of … natural disasters. We find that inflation targeting improves macroeconomic performance following such exogenous shocks. It … lowers inflation, raises output growth, and reduces inflation and growth variability compared to alternative monetary regimes …

Persistent link: https://www.econbiz.de/10011790769

Quantitative easing: new normal or emergency measure?

Bartkiewicz, Piotr - In: Contemporary economics 14 (2020) 3, pp. 306-319

developed economies to raise economic growth and inflation in the aftermath of the Global Financial Crisis. These programmes can …

Persistent link: https://www.econbiz.de/10012301645

Necessity as the mother of invention : monetary policy after the crisis

Blinder, Alan S.; Ehrmann, Michael; Haan, Jakob de; … - 2017

We ask whether recent changes in monetary policy due to the financial crisis will be temporary or permanent. We present evidence from two surveys - one of central bank governors, the other of academic specialists. We find that central banks in crisis countries are more likely to have resorted to...

Persistent link: https://www.econbiz.de/10011635320

Monetary policy transparency

Geraats, Petra M. - 2014

There has been a remarkable rise in the transparency of monetary policy during the last two decades. This paper provides an overview of the ways in which central banks have been providing more information about their monetary policymaking. Furthermore, it reviews the theoretical literature on...

Persistent link: https://www.econbiz.de/10010237274

Great power, great responsibility : addressing the underestimated issue of central bank's social responsibility

Vallet, Guillaume - In: Journal of central banking theory and practice 10 (2021) 3, pp. 23-39

This paper deals with the neglected issue of central banks' social responsibility. Since central banks exert the "structural power" on economies as well as on societies, their power should be regulated and controlled by society through a reliable framework of social responsibility. To that aim,...

Persistent link: https://www.econbiz.de/10012650849

Central Bank response to COVID-19

Ramos-Francia, Manuel; García-Verdú, Santiago - In: Latin American journal of central banking : LAJCB 3 (2022) 3, pp. 1-11

The COVID-19 crisis has been, above all, a tragic public health crisis. It has entailed an enormous effort to respond to the demand for health services. In it, fiscal authorities have led the economic policy responses. For their part, central banks responded swiftly by easing their monetary...

Persistent link: https://www.econbiz.de/10013393387