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Monetary policy rules for convergence to the Euro
Orlowski, Lucjan T. - 2008
This paper aims to devise a monetary policy instrument rule that is suitable for open economies undergoing monetary convergence to a common currency area. The open-economy convergence-consistent Taylor rule is forward-looking, consistent with monetary framework based on inflation targeting,...
Persistent link: https://www.econbiz.de/10011430801
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Macroeconomic preconditions of the realization of a new growth model
Drobyshevsky, Sergey; Sinelnikov-Murylev, Sergey - 2013
The model of the Russian economy that was formed in the 2000s does not match a new stable growth path, though it helped to calmly overcome the crisis of 2008 and 2009. The state needs to provide stability in the fields under its direct control, i.e. the budgetary and monetary policies. In the...
Persistent link: https://www.econbiz.de/10011430898
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Inflation Targeting and its Effects on Macroeconomic Performance
Petursson, Thorarinn G. - 2005
An increasing number of countries have adopted inflation targeting since New Zealand first adopted this framework in early 1990. Currently there are 21 countries using inflation targeting in every continent of the world. This paper discusses the characteristics of these countries and how the...
Persistent link: https://www.econbiz.de/10011689922
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ECB strategy: Best practice and new frontiers
Dullien, Sebastian; Tober, Silke - 2021
The ECB's strategy of inflation targeting as currently practiced requires only minor adjustments to allow the ECB to best provide price stability and support the EU's general economic policies. The key to inflation targeting is a distinct and symmetric inflation target that serves as a benchmark...
Persistent link: https://www.econbiz.de/10012606197
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Stabilising financial markets: Lending and market making as a last resort
Buiter, Willem H.; Cecchetti, Stephen G.; Dominguez, … - 2023
This report looks backwards to the worldwide use of (enhanced) lender of last resort (LOLR) and market maker of last resort (MMLR) facilities during the global financial and the pandemic crises. It discusses how LOLR and MMLR facilities have worked; looking ahead, it considers what benefits and...
Persistent link: https://www.econbiz.de/10014327938
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The East European financial crisis
Åslund, Anders - 2009
This paper discusses the global financial crisis of 2008/9 in thirteen countries, the ten new EU members that previously were communist and the three countries of Western former Soviet Union. Their problems were excessive current account deficits and private foreign debt, currency mismatches,...
Persistent link: https://www.econbiz.de/10011430838
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Breaking monetary policy rules in Russia
Korhonen, Iikka; Nuutilainen, Riikka - 2017
Persistent link: https://www.econbiz.de/10013168615
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Die geldpolitische Strategie der Europäischen Zentralbank: Was geändert werden sollte und was nicht
Feld, Lars P.; Fuest, Clemens; Haucap, Justus; … - 2021
Die Europäische Zentralbank (EZB) führt derzeit eine Überprüfung ihrer geldpolitischen Strategie durch. Die letzte … Mitgliedstaaten. Es sollte vermieden werden, dass die Geldpolitik fiskalisch dominiert wird. Das hierarchische Mandat der EZB mit … EZB stärker an quantitativen Referenzwerten (Zinsregeln, Geldmengenwachstum) orientieren. Die Transparenz der Geldpolitik …
Persistent link: https://www.econbiz.de/10012488262
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The monetary policy strategy of the European Central Bank: Review and recommendations
Feld, Lars P.; Fuest, Clemens; Haucap, Justus; … - 2021
The European Central Bank (ECB) is currently conducting a review of its monetary policy strategy. The last formal review took place in 2003. Now the focus is on the extent to which this strategy has contributed in recent years to fulfill the mandate set out in the Treaties of the European Union...
Persistent link: https://www.econbiz.de/10012598212
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International Investment and Firm Performance: Empirical Evidence from Small Open Economies
Kaitila, Ville; McQuinn, John; Siedschlag, Iulia; … - 2013
of foreign mergers and acquisitions on labour productivity and employment growth up to five years after acquisition. Our …
Persistent link: https://www.econbiz.de/10012037626