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The accuracy of a forecast targeting central bank
Skrove Falch, Nina; Nymoen, Ragnar - In: Economics: The Open-Access, Open-Assessment E-Journal 5 (2011) 2011-15, pp. 1-36
This paper evaluates inflation forecasts made by Norges Bank which is a successful forecast targeting central bank. It … is expected that Norges Bank produces inflation forecasts that are on average better than other forecasts, both naive … forecasts, and forecasts from econometric models outside the central bank. We find that the superiority of the bank's forecast …
Persistent link: https://www.econbiz.de/10010306877
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25 Jahre Euro: Viele Krisen gemeistert, viele Herausforderungen stehen an
Bernoth, Kerstin; Dietz, Sara; Lastra, Rosa M.; … - In: DIW Wochenbericht 91 (2024) 11, pp. 167-174
. Ihr Mandat, Preisstabilität zu gewährleisten, konnte die Europäische Zentralbank als Hüterin des Euro weitestgehend …
Persistent link: https://www.econbiz.de/10014512650
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Überschreitet die EZB mit ihren Staatsanleihekäufen ihr Mandat?
Matthes, Jürgen; Demary, Markus - In: Wirtschaftsdienst 93 (2013) 9, pp. 607-615
Die Staatsanleihekäufe der EZB sind zu einem Fall für das Bundesverfassungsgericht geworden. Die Autoren des IW Köln argumentieren, dass das Outright-Monetary-Transactions-Programm noch innerhalb der Grenzen des EZB-Mandats liegt, aber wegen seiner Nachteile nur temporär eingesetzt werden...
Persistent link: https://www.econbiz.de/10010327962
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The e-krona and the macroeconomy
Armelius, Hanna; Boel, Paola; Claussen, Carl Andreas; … - In: Sveriges Riksbank Economic Review (2018) 3, pp. 43-65
In this article, we discuss potential implications of an e-krona for the conduct of monetary policy and for macroeconomic developments in general. We argue that a universally accessible, non-interest-bearing e-krona supplied according to demand would establish a zero interest-rate floor for the...
Persistent link: https://www.econbiz.de/10012498393
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DSGE Models and Central Banks
Tovar, Camilo Ernesto - In: Economics: The Open-Access, Open-Assessment E-Journal 3 (2009) 2009-16, pp. 1-31
Over the past 15 years there has been remarkable progress in the specification and estimation of dynamic stochastic general equilibrium (DSGE) models. Central banks in developed and emerging market economies have become increasingly interested in their usefulness for policy analysis and...
Persistent link: https://www.econbiz.de/10010298635
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Global Inflation and Global Monetary Policy Tightening: Implications for the Euro Area
Moessner, Richhild; Xia, Fan Dora; Zampolli, Fabrizio - In: Intereconomics 58 (2023) 3, pp. 151-154
Persistent link: https://www.econbiz.de/10014334700
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The Activation Conditions of the Transmission Protection Instrument: Flawed by Design?
Arnold, Ivo J. M. - In: Intereconomics 58 (2023) 5, pp. 254-259
In 2022, the European Central Bank (ECB) introduced the Transmission ProtectionInstrument (TPI) to counter the risk of …
Persistent link: https://www.econbiz.de/10014459470
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The Political and Technical Aspects of Controlling Inflation
Gros, Daniel - In: Intereconomics 58 (2023) 3, pp. 133-135
After almost four decades of price stability, inflation has recently approached historical highs. Initially driven by global energy and food price increases, the magnitude of the surge in inflation caught central banks and markets by surprise. Price pressures are now increasingly broadening to...
Persistent link: https://www.econbiz.de/10014334696
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Reversing the Great Monetary Expansion
Angeloni, Ignazio - In: Intereconomics 58 (2023) 3, pp. 142-147
Persistent link: https://www.econbiz.de/10014334698
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The balance sheet channel of monetary policy transmission: Evidence from Nigeria
Olowofeso, Olorunsola E.; Bada, Abiodun S.; Bassey, Kufre J. - In: CBN Journal of Applied Statistics 05 (2014) 2, pp. 95-116
This paper assesses the existence of a balance sheet channel of monetary policy transmission in Nigeria by examining whether variation in the official interest rate, with respect to the 2007- 2008 global financial crisis, feeds through to the deposit money banks (DMBs) balance sheets, and...
Persistent link: https://www.econbiz.de/10011518790