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Bond market fire sales and turbulence in the Norwegian FX market in March 2020
Alstadheim, Ragna; Nordal, Kjell Bjørn; Syrstad, Olav B.; … - 2021
The world witnessed a meltdown in financial markets in March 2020 as the Covid-19 pandemic hit the global economy. In this memo we document how the turbulence affected Norwegian financial markets. We describe possible mechanisms behind the stress in the Norwegian foreign exchange and bond...
Persistent link: https://www.econbiz.de/10012661607
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Inflation persistence and price-setting behaviour in the euro area – a summary of the IPN evidence
Altissimo, Filippo; Ehrmann, Michael; Smets, Frank - 2006
This paper provides a summary of current knowledge on inflation persistence and price stickiness in the euro area, based on research findings that have been produced in the context of the Inflation Persistence Network. The main findings are - i) Under the current monetary policy regime, the...
Persistent link: https://www.econbiz.de/10011606198
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Structural features of distributive trades and their impact on prices in the euro area
2011
The distributive trades sector, which is primarily accounted for by wholesale and retail trade, is not only economically important in its own right, but also relevant to monetary policy. Ultimately, it is retailers who set the actual prices of most consumer goods. They are the main interface...
Persistent link: https://www.econbiz.de/10011606280
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Fiscal policy in the EU in the crisis: A model-based approach
Székely, István P.; Roeger, Werner; Veld, Jan in 't - 2011
This paper uses a multi region DSGE model with collateral constrained households and residential investment to examine the effectiveness of fiscal policy stimulus measures in a credit crisis. The paper explores alternative scenarios which differ by the type of budgetary measure, its length, the...
Persistent link: https://www.econbiz.de/10011430871
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Warum die Volkswirtschaften der Eurozone den USA und Großbritannien seit der Finanzkrise hinterherhinken: Zur Rolle von Unterschieden in der Geld- und Fiskalpolitik
Heimberger, Philipp - 2016
Wirtschaftsräume wird in zwei Dimensionen analysiert; zum einen anhand eines Überblicks zur Geldpolitik der EZB nach dem Ausbruch der … Wachstum und Beschäftigung, was die Eurozonenwirtschaft im Zusammenspiel mit der über weite Strecken zögerlichen Geldpolitik … prozyklische, krisenverstärkende Fiskalpolitik befördert. Die EZB ist mit ihrer seit Anfang 2015 betriebenen Geldpolitik des …
Persistent link: https://www.econbiz.de/10012100198
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Implications of Globalization for Monetary Policy
Wagner, Helmut - 2002
This paper argues that the implications of globalization for monetary policy come mainly through two channels: On the one hand, the many structural changes, which are associated with the globalization process, cause an increase in uncertainty surrounding monetary policy. This leads to an...
Persistent link: https://www.econbiz.de/10011689901
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On the stance of macroprudential policy
Cecchetti, Stephen G.; Suárez, Javier - 2021
In this report we outline how a formulating normative measure of macroprudential policy stance requires a framework containing objectives, tools and transmission mechanisms. To complement the currently prevailing narrative approach, we apply lessons from the monetary policy to macroprudential...
Persistent link: https://www.econbiz.de/10014327917
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Studie im Auftrag der Deutschen Bank AG, Frankfurt am Main zum Thema: "Analyse der Forward-Rate Bias Strategie der Deutschen Bank". Endbericht
Schröder, Michael; Wang, Qingwei; Rotfuß, Waldemar - 2006
Persistent link: https://www.econbiz.de/10010527526
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The role of offshore financial centers in the process of Renminbi internationalization
Cheung, Yin-Wong - 2014
Persistent link: https://www.econbiz.de/10013168579