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The impact of the crisis and unconventional monetary policy on European inflation dynamics : evidence from a three-period structural model and six countries
Schäfer, Benjamin - In: Review of economics 69 (2018) 2, pp. 87-110
Persistent link: https://www.econbiz.de/10012010186
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The Phillips Curve at the ECB
Eser, Fabian; Karadi, Peter; Lane, Philip R.; Moretti, Laura - 2020
We explain the role of the Phillips Curve at the ECB in the analysis of the economic outlook and the formulation of monetary policy. First, revisiting the structural Phillips Curve, we highlight the challenges in recovering structural parameters from reduced-form estimates and relate the...
Persistent link: https://www.econbiz.de/10012435565
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Understanding inflation dynamics and monetary policy
Constâncio, Vítor - In: Inflation dynamics and monetary policy : a symposium …, (pp. 455-483). 2016
Persistent link: https://www.econbiz.de/10011539024
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Inflation: failures of inflation targeting : a European perspective
Springler, Elisabeth - In: Frontiers of heterodox macroeconomics, (pp. 173-221). 2019
underlying macroeconomic consensus is that inflation rates of 2% are consistent with a stable rise of economic growth. While most … not an outcome of inflation targeting. The paper firstly revises the theoretical background of inflation targeting and … is presented, which critically discusses the necessary framework under which tools of inflation targeting might work to …
Persistent link: https://www.econbiz.de/10012195547
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The European Central Bank's strategy review and the management of inflation expectations
Wohlmann, Monika - In: Eurasian Business and Economics Perspectives : …, (pp. 241-256). 2022
Persistent link: https://www.econbiz.de/10013462066
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Indicator-based estimates of the output gap in the euro area
Weiske, Sebastian - 2019
The output gap is a key variable of business cycle analysis and policy. Obtaining reliable estimates for it, is very difficult, though. Most real-time estimates are frequently revised over time. The idea of this paper is to use various indicators, for example from business surveys, that (i) were...
Persistent link: https://www.econbiz.de/10012309596
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Sectoral wage rigidities and labour and product market institutions in the euro area
Anderton, Bob; Hantzsche, Arno; Savsek, Simon; Tóth, Máté - In: Open economies review 28 (2017) 5, pp. 923-965
Persistent link: https://www.econbiz.de/10011804527
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The financial accelerator in the euro area : new evidence using a mixture VAR model
Bennani, Hamza; Burgard, Jan Pablo; Neuenkirch, Matthias - 2021 - First draft: November 23, 2020 ; this version: May 17, 2021
We estimate a logit mixture vector autoregressive model describing monetary policy transmission in the euro area over the period 2003Q1-2019Q4 with a special emphasis on credit conditions. With the help of this model, monetary policy transmission can be described as mixture of two states (e.g.,...
Persistent link: https://www.econbiz.de/10013328355
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Structural and cyclical determinants of bank interest-rate pass-through in the Eurozone
Leroy, Aurélien; Lucotte, Yannick - In: Comparative economic studies 58 (2016) 2, pp. 196-225
Persistent link: https://www.econbiz.de/10011665257
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Information Effects of Euro Area Monetary Policy : new evidence from high-frequency futures data
Kerssenfischer, Mark - 2019
Central bank announcements have strong effects on interest rates, but small or even counterintuitive effects on economic expectations. Based on tick-by-tick futures prices on bonds and stock prices, I confirm these seemingly puzzling results for the euro area and provide evidence that they are...
Persistent link: https://www.econbiz.de/10012265893