Similar Search Results

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

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

Wicksell at the Bank of Canada

Clinton, Kevin - Economics Department, Queen's University - 2006

Persistent link: https://www.econbiz.de/10005688239

175 years of financial risks and returns in central banking

Abildgren, Kim - 2016

Central banks around the world have substantial domestic and foreign financial assets and liabilities on their balance sheets reflecting their role as monetary authorities. This paper explores the long-term trends in risk and return in central banking using the central bank of Denmark, Danmarks...

Persistent link: https://www.econbiz.de/10011439749

Floor systems and the Friedman rule : the fiscal arithmetic of open market operations

Keister, Todd; Martin, Antoine; McAndrews, James Joseph - 2015

In a floor system of monetary policy implementation, the central bank remunerates bank reserves at or near the market rate of interest. Some observers have expressed concern that operating such a system will have adverse fiscal consequences for the public sector and may even require the...

Persistent link: https://www.econbiz.de/10011410519

Optimal degrees of transparency in monetary policymaking

Jensen, Henrik - 2001

price setters to infer the central bank's future policy intentions, thereby making current inflation more responsive to … policy actions. This induces the central bank to pay more attention to inflation rather than output gap stabilization. Then …, transparency may be disadvantageous. It may actually be a policy-distorting straitjacket if the central bank enjoys low-inflation …

Persistent link: https://www.econbiz.de/10011419293

From antigrowth bias to quantitative easing : the ECB's belated conversion?

Bibow, Jörg - 2016

This paper investigates the European Central Bank's (ECB) monetary policies. It identifies an antigrowth bias in the bank's monetary policy approach: the ECB is quick to hike, but slow to ease. Similarly, while other players and institutional deficiencies share responsibility for the euro's...

Persistent link: https://www.econbiz.de/10011481632

The Euro's savior? : assessing the ECB's crisis management performance and potential for crisis resolution

Bibow, Jörg - 2015

This study assesses the European Central Bank’s (ECB) crisis management performance and potential for crisis resolution. The study investigates the institutional and functional constraints that delineate the ECB’s scope for policy action under crisis conditions, and how the bank has actually...

Persistent link: https://www.econbiz.de/10011349470

The Swiss National Bank's fear of float

Berthold, Kristin; Stadtmann, Georg - In: Journal of central banking theory and practice 8 (2019) 2, pp. 51-64

We theoretically examine under which assumptions the impossible trinity holds. We also focus on the most recent Swiss experience and ask whether the SNB gained monetary independence by switching from a fixed to a floating exchange rate system in January 2015. The theoretical examination shows...

Persistent link: https://www.econbiz.de/10012016803

Does liquidity regulation impede the liquidity profile of collateral?

Schmidt, Kirsten - 2019

We analyze the pledging behavior of Euro area banks during the introduction of the liquidity coverage ratio (LCR). The LCR considers only a subset of central bank eligible assets and thereby offers banks an arbitrage opportunity to improve their regulatory ratio by altering their collateral...

Persistent link: https://www.econbiz.de/10011994641