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We study the yield curve control in Eurozone. We apply Chen, Cúrdia and Ferrero (2012) model that uses a financial friction to break Wallace's neutrality. We calibrate a bond supply shock that corresponds to the observed change in the time premium in euro area when the APP program was...
Persistent link: https://www.econbiz.de/10012221811
growth by approximate 2 percentage points in 2020-2021 and inflation by 0.5 percentage points. The longer-term refinancing …
Persistent link: https://www.econbiz.de/10012622376
inflation environments. The results show that the macroeconomic outcome de-pends on whether the conventional or modified Taylor … rule is used, and whether the central bank is operating in a low or high inflation environment. …
Persistent link: https://www.econbiz.de/10012170972
We study the effect of quantitative tightening both without forward guidance and with higher for longer guidance. This is done by simulating quantitative tightening strategies in a dynamic stochastic general equilibrium model estimated with the euro area data. Quantitative tightening is...
Persistent link: https://www.econbiz.de/10014483114
This article looks into global central bank messaging on the Twitter social media platform. At the end of 2021, a total of 122 central banks and monetary authorities had registered accounts on Twitter At that time, approximately two-thirds of world's central banks and monetary author- ities were...
Persistent link: https://www.econbiz.de/10014526688
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. The world in 2022: slower growth, higher inflation, interest rate hikes .-- C. Effects on the region: large differences …
Persistent link: https://www.econbiz.de/10013329423
This study aims to explore the extent to which changes in wealth contributes to inflation utilizing a highly flexible …
Persistent link: https://www.econbiz.de/10014573996
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