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The Symmetry of ECB Monetary Policy Impact Under Scrutiny : An Assessment

Serati, Massimiliano - 2020

transmission of the monetary impulses across the Eurozone. Adopting a Bayesian Time-Varying parameter FAVAR model that fixes the …

Persistent link: https://www.econbiz.de/10012854694

The Monetary Transmission Mechanism in the Euro Area : Has It Changed with the EMU? A VAR Approach, with Fiscal Policy and Financial Stress Considerations

Afonso, António - 2014

We study whether the adoption of the Euro and a single monetary policy have brought about a change in the monetary transmission mechanism and between the interactions of monetary policy, fiscal policy and financial stress in the Euro area. We find that the stylized facts of monetary transmission...

Persistent link: https://www.econbiz.de/10013050644

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/10012989691

Considerations on the monetary policy framework of the European Central Bank

Tosato, Andrea Giorgio - 2022

This working paper offers some considerations on the monetary policy framework of the European Central Bank. The trade-offs arising from adopting a point target configuration over a range target one are assessed in terms of their flexibility vs. inflation anchoring properties. This layout is...

Persistent link: https://www.econbiz.de/10012802090

In the Absence of Fiscal Union, the Eurozone Needs a More Flexible Monetary Policy

Alessandrini, Pietro - 2018

. Eurozone policymakers have ignored these inter-member imbalances and have instead concentrated on union-wide imbalances, so … controlling the distribution of liquidity among Member States, resulting from inter-member external imbalances. Our proposal is …

Persistent link: https://www.econbiz.de/10012930480

In the Absence of Fiscal Union, the Eurozone Needs a More Flexible Monetary Policy : A Comment

Terzi, Andrea - 2018

raised here. First, diverging current account imbalances shaped the eurozone countries' vulnerability, but were not a cause … of the euroarea 2010-2012 liquidity crisis. Second, A&F's quantity-theoretic view of monetary policy implementation is …

Persistent link: https://www.econbiz.de/10012930492

In the Absence of Fiscal Union, the Eurozone Needs a More Flexible Monetary Policy : A Reply

Alessandrini, Pietro - 2018

fragility of the member countries of the euroarea, but were not the cause of the liquidity crisis that occurred between 2010 and … competitiveness, sticky real exchange rates, persistent trade deficits, sudden stops in capital flows, and vanishing liquidity can … account for a liquidity crisis independent of fiscal irresponsibility; and that their original model simply shows that, in the …

Persistent link: https://www.econbiz.de/10012930497

Oil price shock in the US and the euro area - evidence from the shadow rate and the term premium

Pažický, Martin - In: Národohospodářský obzor : časopis věnovaný … 21 (2021) 3, pp. 309-346

The aim of this article is to investigate the consequences of oil price changes for the economy of the US and the euro area. Oil price transmission channel is assessed using Granger causalities and structural vector autoregressive (VAR) specifications (applying the Cholesky factorization and the...

Persistent link: https://www.econbiz.de/10012651358

Monetary and macroprudential policy interactions in a model of the European Union

Dennis, Richard; Ilbas, Pelin - 2022

We use the two-country euro-area model developed by Quint and Rabanal (2014) to study policymaking in the European Monetary Union (EMU). We focus on strategic interactions: 1) between an EMU-level monetary authority and an EMU-level macroprudential authority, and; 2) between an EMU-level monetary...

Persistent link: https://www.econbiz.de/10013291498

Looking into the rear-view mirror : lessons from Japan for the Eurozone and the U.S?

Siklos, Pierre L. - In: Asia and the global economy : AGE 1 (2021) 1, pp. 1-20

experiences of the U.S. and the Eurozone. There are important differences between these three economies and some striking …

Persistent link: https://www.econbiz.de/10012816140