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Bringing the Central Bank into the Study of Currency Internationalization : Monetary Policy, Independence, and Internationalization

Chey, Hyoung-kyu - 2016

Despite the central bank's crucial position in the economy, as the issuer of the currency and the body responsible for monetary policy, its preferences regarding currency internationalization and its roles in that process have rarely been analyzed in the literature. This study attempts to fill...

Persistent link: https://www.econbiz.de/10012998303

What Have Central Banks in EMEs Learned About the International Transmission of Monetary Policy in Recent Years?

Barroso, Joao B. - 2014

This note considers the international transmission of monetary policy conditions to emerging market economies (EMEs) with a focus on Brazil's experience. The main points are as follows: (i) growing foreign participation in Brazil's domestic Treasury markets has increased the sensitivity of the...

Persistent link: https://www.econbiz.de/10013047075

Solving Global Financial Imbalances : A Plan for a World Financial Authority

Mirandola, Carlos Mauricio - 2013

This paper will propose a plan to reform international finance – the World Financial Authority (WFA) Plan. Under such a … effective, regaining traction and preventing contagion. A central instrument to this end is the creation of the World Financial … surrendered to the WFA by member countries. The WFA is being thought as a device to support the financial globalization, as well …

Persistent link: https://www.econbiz.de/10013095450

Monetary policy after the crisis

Gnan, Ernest (ed.); Belka, Marek (contributor) - 2011

Persistent link: https://www.econbiz.de/10009422829

Virtual currencies and their potential impact on financial markets and monetary policy

Dąbrowski, Marek; Janikowski, Lukasz - 2018

Virtual currencies are a contemporary form of private money. Thanks to their technological properties, their global transaction networks are relatively safe, transparent, and fast. This gives them good prospects for further development. However, they remain unlikely to challenge the dominant...

Persistent link: https://www.econbiz.de/10011929341

Four facts about international central bank communication

Bertsch, Christoph; Hull, Isaiah; Lumsdaine, Robin L.; … - 2024

This paper introduces a novel database of text features extracted from the speeches of 53 central banks from 1996 to 2023 using state-of-the-art NLP methods. We establish four facts: (1) central banks with floating and pegged exchange rates communicate differently, and these differences are...

Persistent link: https://www.econbiz.de/10014501000

Spread the word : international spillovers from central bank communication

Armelius, Hanna; Bertsch, Christoph; Hull, Isaiah; … - 2018

We use text analysis and a novel dataset to measure the sentiment component of central bank communications in 23 countries over the 2002-2017 period. Our analysis yields three key results. First, using directed networks, we show that comovement in sentiment across central banks is not reducible...

Persistent link: https://www.econbiz.de/10011911134

Does an independent central bank smooth exchange rate volatility? : evidence from time-varying panel causality analysis

Esen, Ömer; Çınar, Uğur - In: Journal of central banking theory and practice 13 (2024) 3, pp. 219-244

This paper empirically examines the effect of the central banks independence on exchange rate volatility by using a large data-set for the E7 (7 emerging countries) covering the period 1998-2017. This paper applies the time-varying panel causality analysis to obtain country-based results. The...

Persistent link: https://www.econbiz.de/10015076477

Party affiliation rather than former occupation : the background of central bank governors and its effect on monetary policy

Neuenkirch, Matthias; Neumeier, Florian - 2013 - This version: 30 July 2013

In this paper, we analyze the relationship between certain characteristics of incumbent central bank governors and their interest-rate-setting behavior. We focus on (i) occupational backgrounds, (ii) party affiliation, and (iii) experience in office and estimate augmented Taylor rules for 20...

Persistent link: https://www.econbiz.de/10009775039

Monetary policy after the crisis : a joint publication with the National Bank of Poland

Gnan, Ernest (ed.); Kokoszcynski, Ryszard (ed.); … - Conference Monetary Policy after the Crisis <2011, Warschau>; … - 2011

On 4 March 2011, SUERF – The European Money and Finance Forum and the National Bank of Poland jointly organised a conference on the theme of: "Monetary Policy after the Crisis". Following a call for papers with a large number of submissions, the scientific committee selected 9 papers, which...

Persistent link: https://www.econbiz.de/10011710723