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The Collateral Framework of the Eurosystem and Its Fiscal Implications

Eberl, Jakob Korbinian - 2016

This thesis was written by Jakob Eberl while having been a research assistant at the Center for Economic Studies (CES) at the University of Munich. It was completed in December 2015 and accepted as a doctoral thesis by the Department of Economics at the University of Munich in May 2016. The...

Persistent link: https://www.econbiz.de/10011698359

The predictability of monetary policy

Blattner, Tobias; Catenaro, Marco; Ehrmann, Michael; … - 2008

Current best practice in central banking views a high level of monetary policy predictability as desirable. A clear distinction, however, has to be made between short-term and longer-term predictability. While short-term predictability can be narrowly defined as the ability of the public to...

Persistent link: https://www.econbiz.de/10011606235

Central Banking and the Choice of Currency Regime in Accession Countries

Buiter, Willem H.; Grafe, Clemens - 2001

The subject matter of this paper is the design of appropriate Central Banking arrangements and exchange rate regimes for those former centrally planned Central and East European countries that are candidates for full membership in the European Union. We give an overview of the existing...

Persistent link: https://www.econbiz.de/10011689895

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

Clear, consistent and engaging: ECB monetary policy communication in a changing world

2021

This paper examines the importance of central bank communication in ensuring the effectiveness of monetary policy and in underpinning the credibility, accountability and legitimacy of independent central banks. It documents how communication has become a monetary policy tool in itself; one...

Persistent link: https://www.econbiz.de/10012661656

Does the crisis experience call for a new paradigm in monetary policy?

Taylor, John B. - 2010

This paper shows that the monetary policy paradigm that was in place before the financial crisis worked very well and that the crisis occurred only after policy makers deviated from that paradigm. The paper also evaluates monetary policy during the financial crisis by dividing the crisis into...

Persistent link: https://www.econbiz.de/10011430849

Information and Uncertainty in the Theory of Monetary Policy

Wagner, Helmut - 2007

Theory and practice of monetary policy have changed significantly over the past three decades. A very important part of today's monetary policy is management of the expectations of private market participants. Publishing and justifying the central bank's best forecast of inflation, output, and...

Persistent link: https://www.econbiz.de/10011689928

Assessing the preparedness of WAMZ countries for migration to inflation targeting framework

Olowofeso, Olorunsola E.; John-Sowe, Maimuna; Diallo, … - 2021

Inflation targeting (IT) has become the dominant monetary policy framework around the world and most of the countries that have adopted it have successfully improved their monetary policy regime. The objective of this paper is to assess WAMZ member countries' readiness to adopt inflation...

Persistent link: https://www.econbiz.de/10013362893

Disclosure of climate change risk in credit ratings: An analytical framework to perform a status-quo assessment of the disclosure of climate change risks in rating methodologies and ratings reports by selected credit rating agencies

Breitenstein, Miriam; Ciummo, Stefania; Walch, Florian - 2022

Climate change can be a source of financial risk. This paper examines how credit rating agencies accepted by the Eurosystem incorporate climate change risk in their credit ratings. It also analyses how rating agencies disclose their assessments of climate change risks to rating users. The paper...

Persistent link: https://www.econbiz.de/10013480192

Évaluation de l'état de préparation des pays de la ZMAO à la migration vers un cadre de ciblage de l'inflation

Olowofeso, Olorunsola E.; John-Sowe, Maimuna; Diallo, … - 2021

Persistent link: https://www.econbiz.de/10014278241