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The European Central Bank is planning a gradual reduction of government bond purchases under the asset purchase program it initiated in 2015. The present study by the German Institute for Economic Research analyzes the potential macroeconomic implications of different exit strategies. The...
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Economists and policy-makers have long sought the ideal framework for monetary policy as it is arguably one of the most important tools for government to influence the economy. Exchange rate and inflation are believed to be the most appealing anchors for providing guidance to the conduct of...
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Inflation in advanced economies is low by historical standards but there is no threat of deflation. Slower economic growth is caused by supply-side constraints rather than low inflation. Below-the-target inflation does not damage the reputation of central banks. Thus, central banks should not...
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This paper uses daily data for the period 2005-2011 to estimate the effects of monetary policy signals on the Nigeria … that central bank communications is potentially a viable tool of monetary policy implementation in Nigeria. The paper … suggests that the Central Bank of Nigeria should be careful in communicating to the markets and should have an optimal …
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