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Quantifying the effects of the CNB's exchange rate commitment : a synthetic control method approach

Opatrny, Matej - 2016

appreciating that were put in place in 2013. I focus its on the impact on output, unemployment, and inflation. I use the synthetic … connected to disturbances created by changes in excise taxes. The effect of the commitment on inflation is positive but not …

Persistent link: https://www.econbiz.de/10011515767

Finding new objectives, seeking new instruments

Cobham, David P. - 2024

This short paper use the perspective of the assignment problem to examine the evolution of the workings of monetary policy and the Monetary Policy Committee (MPC) of the Bank of England over its first 25 years. It outlines how the Bank, and the MPC, came across additional possible objectives and...

Persistent link: https://www.econbiz.de/10014471910

Macroprudential policies and dollarisation : implications for the financial system and a cross-exchange rate regime analysis

Bajrami, Fisnik - 2024

Macroprudential policy has gained prominence for promoting financial stability. In this paper, we assess the effectiveness of macroprudential policy in reducing credit growth over a 22-year period across 129 countries. Additionally, we investigate the interaction between macroprudential policy,...

Persistent link: https://www.econbiz.de/10014496532

Do we need central bank digital currency? Economics, technology and institutions

Gnan, Ernest (contributor); Masciandaro, Donato (contributor) - 2018

Persistent link: https://www.econbiz.de/10011985213

Wicksell at the Bank of Canada

Clinton, Kevin - 2006

price stability (or low inflation); an interest rate instrument controlled by the rates on settlement balances at the … inflation process has parallels in the modern Phillips curve. Moreover, in a mandate for price stability, one can find a logical …

Persistent link: https://www.econbiz.de/10011940701

Issuing a Wholesale Central Bank Digital Currency: Why and How

Pfister, Christian - In: Intereconomics 59 (2024) 1, pp. 35-40

Although there are currently four retail central bank digital currencies in circulation, no central bank has yet issued the wholesale form of a central bank digital currency. There are good reasons to do so, however, and central banks have already conducted projects in this area. A wholesale...

Persistent link: https://www.econbiz.de/10014485127

Flexible majority rules for cryptocurrency issuance

Gersbach, Hans - 2019

optimal money growth rates are realized if agents entering financial contracts anticipate ensuing inflation rates determined …

Persistent link: https://www.econbiz.de/10012140954

Is there a need for a coded language in central banking?

Muchlinski, Elke - 2009

Persistent link: https://www.econbiz.de/10003825008

Testing the monetary policy rule in the US : a reconsideration of the Fed's behaviour

Minford, Patrick; Ou, Zhirong - 2009

We calibrate a standard New Keynesian model with three alternative representations of monetary policy- an optimal timeless rule, a Taylor rule and another with interest rate smoothing- with the aim of testing which if any can match the data according to the method of indirect inference. We find...

Persistent link: https://www.econbiz.de/10003882196

How are inflation targets set?

Horváth, Roman; Matějů, Jakub - 2011

This paper aims to contribute to a better understanding on how inflation targets are set. For this reason, we first … inflation targets are set; we then estimate the determinants of the level of inflation target in 19 inflation targeting … than as a point). Inflation targets are found to reflect macroeconomic fundamentals. Higher level as well as higher …

Persistent link: https://www.econbiz.de/10008798081