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Measuring the effects of monetary policy in the euro area : the role of anticipated policy

Gottschalk, Jan; Höppner, Florian - 2001 - This Version: August 2001

This paper investigates within a SVAR framework the effects of anticipated monetary policy in the euro area. Building on a procedure recently proposed by Cochrane yielding the response of output to an anticipated monetary policy impulse, we show that in the past twenty years anticipated monetary...

Persistent link: https://www.econbiz.de/10011538850

Measuring the effects of monetary policy in the euro area : the role of anticipated policy

Gottschalk, Jan; Höppner, Florian - 2001

This paper investigates within a SVAR framework the effects of anticipated monetary policy in the euro area. Building on a procedure recently proposed by Cochrane which yields the response of output to an anticipated monetary policy impulse, we show that in the past twenty years anticipated...

Persistent link: https://www.econbiz.de/10011476356

Monetary policy and inequality : a two-way relation

Thiel, Luzie - 2023

on aggregate demand is amplified in this setup by inequality between saver and hand-to-mouth households. The …

Persistent link: https://www.econbiz.de/10013541937

How should central banks react to household inflation heterogeneity?

Neyer, Ulrike; Stempel, Daniel - 2022

less under that regime. After a negative supply shock, a central bank only considering the household experiencing the … investigates how central banks should react to household inflation heterogeneity in a tractable New Keynesian model. We include two … of the households' consumer price inflation rates or their individual rates, respectively. After a negative demand shock …

Persistent link: https://www.econbiz.de/10012803661

Quantifying "quantitative tightening" (QT) : how many rate hikes is QT equivalent to?

Wei, Bin - 2022

How many interest rate hikes is quantitative tightening (QT) equivalent to? In this paper, I examine this question based on the preferred-habitat model in Vayanos and Vila (2021). I define the equivalence between rate hikes and QT such that they both have the same impact on the 10-year yield....

Persistent link: https://www.econbiz.de/10013279323

Effects of foreign and domestic central bank government bond purchases in a small open economy DSGE model : evidence from Sweden before and during the coronavirus pandemic

Akkaya, Yildiz; Belfrage, Carl-Johan; Di Casola, Paola; … - 2023

This paper evaluates the macroeconomic effects of foreign and domestic central bank government bond purchases on the Swedish economy before and during the Corona pandemic using a small open economy DSGE model with segmented asset markets. In this model, the effects of foreign and domestic...

Persistent link: https://www.econbiz.de/10014232954

An unconventional approach to evaluate the Bank of England's asset purchase program

Neuenkirch, Matthias - 2016 - This version: November 2, 2016

Empirical papers analysing the transmission of (unconventional) monetary policy typically rely on a vector autoregressive framework. In this paper, I complement these studies and employ a matching approach to examine the impact of the Bank of England's asset purchase program on macroeconomic...

Persistent link: https://www.econbiz.de/10011553983

Quantitative easing in the euro area : an event study approach

Urbschat, Florian; Watzka, Sebastian - 2017

We examine the effects of the Asset Purchase Programme (APP) gradually introduced by the European Central Bank from September 2014 onwards. Studying the short-term reaction of financial markets after APP press releases, we analyse the development of bond yields and spreads around these releases....

Persistent link: https://www.econbiz.de/10011743065

Quantitative easing in the Euro Area

Urbschat, Florian; Watzka, Sebastian - 2017

Persistent link: https://www.econbiz.de/10011641961

Uncertainty about Federal Reserve policy and Its transmission to emerging economies : evidence from Twitter

Tillmann, Peter - 2016

It is well known that a tightening or easing of the United States' monetary policy affects financial markets in emerging economies. This paper argues that uncertainty about future monetary policy is a separate transmission channel. We focus on the taper tantrum episode in 2013, a period with an...

Persistent link: https://www.econbiz.de/10011546623