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The Role of Transparency in the Conduct of Monetary Policy

Minegishi, Makoto; Cournède, Boris - Economics Department, Organisation de Coopération et … - 2009

la transparence dans la conduite de la politique monétaire<BR>À rebours des habitudes de secrets et d’opacité qui ont pu … prévaloir par le passé, la transparence constitue désormais un moyen essentiel de mise en œuvre de la politique monétaire. Une … transparence. Les résultats empiriques sont cohérents avec l’hypothèse selon laquelle la transparence contribue à l’efficacité de …

Persistent link: https://www.econbiz.de/10008498035

Credit, Financial Stability, and the Macroeconomy

Taylor, Alan M. - C.E.P.R. Discussion Papers - 2015

Since the 2008 global financial crisis, and after decades of relative neglect, the importance of the financial system and its episodic crises as drivers of macroeconomic outcomes has attracted fresh scrutiny from academics, policy makers, and practitioners. Theoretical advances are following a...

Persistent link: https://www.econbiz.de/10011213304

THE INFLUENCES OF INFLATION ON THE MONETARY POLICY INTEREST

Emilia, Popa Coralia - In: Annals of Faculty of Economics 1 (2012) 2, pp. 582-587

In the context of sovereign debt crisis in Europe, a crisis entirely felt also in the direct relation between credit institutions, the National Bank of Romania (NBR) adopted a monetary policy strategy meant to determine the reinforcement of its image, by initiating in the autumn of 2011 a new...

Persistent link: https://www.econbiz.de/10010617375

Mind the output gap: the disconnect of growth and inflation during recessions and convex Phillips curves in the euro area

Gross, Marco; Semmler, Willi - 2017

We develop a theoretical model that features a business cycle-dependent relation between out- put, price inflation and inflation expectations, augmenting the model by Svensson (1997) with a nonlinear Phillips curve that reflects the rationale underlying the capacity constraint theory (Macklem...

Persistent link: https://www.econbiz.de/10011606049

Evolução da política do recolhimento compulsório no Brasil pós-real

Cavalcanti, Marco A. F. H.; Vonbun, Christian - 2013

We present a detailed survey of changes in the reserve requirement system in Brazil and analyze the system's main functions and goals during the period from 1994 to 2012. We identify four different subperiods with respect to the use of this policy tool. In the first subperiod, from july 1994 to...

Persistent link: https://www.econbiz.de/10010331102

Bernanke's paradox: Can he reconcile his position on the federal budget with his recent charge to prevent deflation

Tcherneva, Pavlina R. - 2010

This paper examines Federal Reserve Chairman Ben Bernanke's recipe for deflation fighting and the specific policy actions he took in the aftermath of the 2008 financial crisis. Both in his academic and in his policy work, Bernanke has made the case that monetary policy is able to stem...

Persistent link: https://www.econbiz.de/10010286488

The European Central Bank and why things are the way they are: A historic monetary policy pivot point and moment of (relative) clarity

Dubois, Robert - 2012

Not since the Great Depression have monetary policy matters and institutions weighed so heavily in commercial, financial, and political arenas. Apart from the eurozone crisis and global monetary policy issues, for nearly two years all else has counted for little more than noise on a relative...

Persistent link: https://www.econbiz.de/10010286538

The natural rate of interest in emerging Asia: Long-term trends and the impact of crises

Tanaka, Kensuke; Ibrahim, Prasiwi; Brekelmans, Sybrand - 2021

This paper studies the evolution of the natural interest rate in five Southeast Asian countries and considers the effect of economic shocks on the natural interest rate in these countries. The natural interest rate is the interest rate that would prevail in an economy in equilibrium and in the...

Persistent link: https://www.econbiz.de/10012610158

25 Jahre Euro: Viele Krisen gemeistert, viele Herausforderungen stehen an

Bernoth, Kerstin; Dietz, Sara; Lastra, Rosa M.; … - In: DIW Wochenbericht 91 (2024) 11, pp. 167-174

Im Jahr 2024 feiert der Euro sein 25-jähriges Bestehen. Die Stabilität des Euroraums und damit der europäischen Gemeinschaftswährung wurde seit dem Jahr 1999 mehrfach auf die Probe gestellt, insbesondere während der weltweiten Finanzkrise 2008/09 und der sich anschließenden europäischen...

Persistent link: https://www.econbiz.de/10014512650

Monetary Policy Responses to the Crisis and Exit Strategies

Minegishi, Makoto; Cournède, Boris - Economics Department, Organisation de Coopération et … - 2010

Central banks have responded with exceptional vigour to the crisis by using their traditional interest-rate tools to their limits and deploying a wide range of unconventional measures. This paper documents these responses in a systematic way, reviews the evidence about their impact, and...

Persistent link: https://www.econbiz.de/10008542499

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