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An empirical analysis of bank concentration and monetary policy effectiveness

Severe, Sean - In: Journal of Financial Economic Policy 8 (2016) 2, pp. 163-182

Purpose Substantial research has been conducted on the direct effects of banking competition or lack thereof. However, little work has investigated how the market structure of banks can affect the transmission of monetary policy. The purpose of this paper is to investigate to what degree bank...

Persistent link: https://www.econbiz.de/10014867108

Why RMB should be more flexible

Kan, Yoke Yue - In: Journal of Financial Economic Policy 9 (2017) 02, pp. 156-173

Purpose This report examines the recent developments and trends relating to the Chinese government’s policy actions and the key issues that determine the choice of exchange rate regime in China. An up-to-date “stock-take” of the economic indicators is conducted to determine what is...

Persistent link: https://www.econbiz.de/10014867110

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

Muchlinski, Elke - 2009

Persistent link: https://www.econbiz.de/10010299153

The Eurosystem, the US Federal Reserve and the Bank of Japan: similarities and differences

Gerdesmeier, Dieter; Mongelli, Francesco Paolo; Roffia, … - 2007

The paper provides a systematic comparison of the Eurosystem, the US Federal Reserve and the Bank of Japan. These monetary authorities exhibit somewhat different status and tasks, which reflect different historical conditions and national characteristics. However, widespread changes in central...

Persistent link: https://www.econbiz.de/10011604788

Markets are a function of language: Notes on a narrative economics

Holmes, Douglas R. - 2019

Narratives are under-theorised and until recently under-recognised as core variables influencing the speed and direction of changes in expectations and, therefore, as core macroeconomic variables that shape the policy processes of central banks. The author examines below how the thousands of...

Persistent link: https://www.econbiz.de/10011984447

A macro-model to monetary transmission analysis in Tunisia$

Makni, Aymen - 2019

observed and anticipated changes in inflation and other economic variables. This model provides a useful framework detailing … monetary policy and helping policymakers mainly to react strongly to inflation. …

Persistent link: https://www.econbiz.de/10012049300

Effectiveness of Central Bank Independence via its Internal Characteristics

Griffin, Carroll H. - 2011

of central bank independence on inflation as promoting the theoretical benefits of a more stable and prosperous … activities; how does a government induce an agent to choose the formal economy. In the trade-off between inflation and reserve … requirements, the optimal policy is maximum inflation and minimum reserve requirements as increasing the steady-state utility of an …

Persistent link: https://www.econbiz.de/10009441677

The Fed’s response to the financial crisis: Pages from the BOJ playbook, or a whole new ball game?

Kuttner, Kenneth N. - 2009

Like the Bank of Japan (BOJ) a decade ago, the U.S. Federal Reserve (Fed) has recently taken a number of unprecedented steps to stabilize its foundering financial system. This paper describes the Fed’s and the BOJ’s responses to their countries’ crises, highlighting the similarities and...

Persistent link: https://www.econbiz.de/10009472131

Applying Complexity Theory to Interest Rates: Evidence of Critical Transitions in The Euro Area

van den End, Jan Willem - In: Credit and Capital Markets – Kredit und Kapital 52 (2019) 1, pp. 1-33

We apply complexity theory to financial markets to show that excess liquidity created by the Eurosystem has led to critical transitions in the configuration of interest rates. Complexity indicators turn out to be useful signals of tipping points and subsequent regime shifts in interest rates. We...

Persistent link: https://www.econbiz.de/10014523281

Ein Drei-Punkte-Plan zur Reform der Geldpolitik

Krueger, Malte - In: Credit and Capital Markets – Kredit und Kapital 46 (2013) 4, pp. 421-437

Prominente Ökonomen wie John B. Taylor oder William R. White sehen geldpolitische Fehler als wesentliche Ursache der gegenwärtigen Finanzkrise. Zentralbanken sind gegenwärtig jedoch hauptsächlich mit Trouble-Shooting und der Neugestaltung der Bankenregulierung beschäftigt. Unter Rückgriff...

Persistent link: https://www.econbiz.de/10014523929