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Seit seinem Amtsantritt als US-Notenbankchef im Februar 2006 hat Ben Bernanke die amerikanische Geldpolitik auf den … umfangreichen Stützungsprogramme der US-Notenbank (Fed) nicht nur die US-Wirtschaft stabilisieren, sondern auch die Inflation … anheizen könnten. Der Beitrag beleuchtet die Geldpolitik Bernankes, beschreibt die Maßnahmen der Fed und diskutiert die Risiken …
Persistent link: https://www.econbiz.de/10011692991
inflation is inertial. Microeconomic data indicate that firms change prices frequently. We formulate and estimate a model which … resolves this apparent micro - macro conflict. Our model is consistent with post-war U.S. evidence on inflation inertia even …
Persistent link: https://www.econbiz.de/10011584699
Central bank balance sheets swelled in size in response to the financial crisis of 2007-09. In this article we discuss what makes them different from the balance sheets of other institutions, how they've been used in the past, and how they might evolve in the future as means to implement novel...
Persistent link: https://www.econbiz.de/10012952961
In this paper we analyse developments in the composition of central bank balance sheets for a large set of central banks in a unified framework. Since 2007, central banks in advanced economies have experienced pronounced changes in balance sheet composition as a consequence of unconventional...
Persistent link: https://www.econbiz.de/10012969529
In this paper we analyse developments in the composition of central bank balance sheets for a large set of central banks in a unified framework. Since 2007, central banks in advanced economies have experienced pronounced changes in balance sheet composition as a consequence of unconventional...
Persistent link: https://www.econbiz.de/10012994818
We first sketch how central banks have used unconventional monetary policy measures by using three indicators based on the composition of the balance sheet of eleven central banks. Our analysis suggests that although the ECB's balance sheet has increased dramatically during the crisis, the...
Persistent link: https://www.econbiz.de/10013080630
Digital money is a logical step in a process of continuous technological advancement in payment systems. In response, central banks are reviewing their conduct of monetary operations in light of the new shape of financial markets and systems. The impact of digital money will depend on the type...
Persistent link: https://www.econbiz.de/10014236308
The present article proposes to draw on the recent experiences of many central banks of advanced economies and the evolution of their operational frameworks in the new context of increased domestic liquidity, when analysing the operations of central banks that engage in exchange rate management...
Persistent link: https://www.econbiz.de/10014327478
Ein Ziel der EZB ist es, die Preisstabilität in der Eurozone zu gewährleisten. Beim Streben nach Preisstabilität zielt die EZB darauf ab, Preissteigerungsraten von unter, aber nahe 2% sicherzustellen. Mit dieser quantitativen Definition will die EZB eine Verankerung der Inflationserwartungen...
Persistent link: https://www.econbiz.de/10011692656
Persistent link: https://www.econbiz.de/10011696014