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Sticky Inflation and Interest Rate Rules With Auction Prices

Von zur Mühlen, Peter - 2022

central bank attempts to exploit the correlation between auction prices and inflation. This question is examined using a …

Persistent link: https://www.econbiz.de/10013403499

Central bank information shocks and exchange rates

Franz, Thorsten - 2020 - This version: February 2020

The dynamic effects of ECB announcements, disentangled into pure monetary policy and central bank information shocks, on the euro (EUR) exchange rate are examined using a Bayesian Proxy Vector Autoregressive (VAR) model fed with high-frequency data. Contractionary monetary policy shocks result...

Persistent link: https://www.econbiz.de/10012180641

Macroeconomic risks and monetary policy in Central European countries : parallels in the Czech Republic, Hungary, and Poland

Ábel, István; Siklos, Pierre L. - In: Risks : open access journal 11 (2023) 11, pp. 1-26

Changes in interest rates, inflation, and exchange rates are the main components of macroeconomic risks (financial … form of flexible inflation targeting (FIT). It is characterized by an explicit concern over exchange rates. The empirical …

Persistent link: https://www.econbiz.de/10014436574

Greenspan and the Greenbook

Tchaidze, Robert R. - 2002

's Research Department prior to the Board meetings Using Greenbook forecasts allows calculation of future inflation shocks as …

Persistent link: https://www.econbiz.de/10010293458

How the Bundesbank really conducted monetary policy: An analysis based on real-time data

Gerberding, Christina; Worms, Andreas; Seitz, Franz - 2004

deviations of inflation from target, but not to monetary growth. This result is at odds with the Bundesbank's claim that it … Bundesbank took its monetary targets seriously, but also responded to deviations of expected inflation and output growth from …

Persistent link: https://www.econbiz.de/10010295652

Money-based interest rate rules: lessons from German data

Gerberding, Christina; Seitz, Franz; Worms, Andreas - 2007

rate response to deviations of the inflation rate from target, to the change in the output gap, to money demand shocks and …-term inflation expectations, monetary targeting introduces inertia and history-dependence into the monetary policy rule. This is …

Persistent link: https://www.econbiz.de/10010295843

An impact of country-specific economic developments on ECB decisions

Ullrich, Katrin - 2006

Council. However, the maximum inflation rate and the minimum economic sentiment of the euro area seem to have an effect on the …

Persistent link: https://www.econbiz.de/10010297820

Forecasting ECB monetary policy: accuracy is (still) a matter of geography

Berger, Helge; Ehrmann, Michael; Fratzscher, Marcel - 2006

Monetary policy in the euro area is conducted within a multi-country, multi-cultural, and multi-lingual context involving multiple central banking traditions. How does this heterogeneity affect the ability of economic agents to understand and to anticipate monetary policy by the ECB? Using a...

Persistent link: https://www.econbiz.de/10010299102

Optimal monetary policy in a small open economy with financial frictions

Merola, Rossana - 2010

inflation stability and whether, in the presence of financial frictions, the optimal outcome can be realized or approached more … inflation targeting cum exchange rate stabilization and a price-level targeting are more suitable rules in minimizing …

Persistent link: https://www.econbiz.de/10010299951

Taylor rules for CEE-EU countries: How much heterogeneity?

Sydykova, Meerim; Stadtmann, Georg - 2015

We derive Taylor rates for those CEE-EU countries which are not part of the Eurozone. The degree of heterogeneity decreased tremendously over time (2005 - 2015). Nevertheless, the business cycles are still not fully synchronized. As a consequence, joining the Eurozone seems to be premature and...

Persistent link: https://www.econbiz.de/10011390576