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Thema Geldpolitik

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498 Ergebnisse, ab 441
  • Forschungsprojekt

    The Provision of External Expertise in the Field of Monetary and Financial Affairs (Monetary Expert Panel)

    Aktuelles Projekt| Makroökonomie, Prognose und Konjunkturpolitik
  • Referierte Aufsätze Web of Science

    Understanding the Great Recession

    We argue that the vast bulk of movements in aggregate real economic activity during the Great Recession were due to financial frictions. We reach this conclusion by looking through the lens of an estimated New Keynesian model in which firms face moderate degrees of price rigidities, no nominal rigidities in wages, and a binding zero lower bound constraint on the nominal interest rate. Our model does ...

    In: American Economic Journal: Macroeconomics 7 (2015), 1, S. 110-167 | Lawrence J. Christiano, Martin S. Eichenbaum, Mathias Trabandt
  • Externe Monographien

    Floating with a Load of FX Debt?

    Countries with de jure floating exchange rate regimes are often reluctant to allow their currencies to float freely in practice. One reason why countries may wish to limit exchange rate volatility is potential negative balance sheet effects due to currency mismatches on the balance sheets of firms and households. In this paper, we show in a sample of 15 emerging market economies that countries with ...

    Washington D.C.: IMF, 2015, 35 S.
    (IMF Working Paper ; 15/284)
    | Tatsiana Kliatskova, Uffe Mikkelsen
  • DIW Berlin - Politikberatung kompakt 106 / 2015

    Is Globalization Reducing the Ability of Central Banks to Control Inflation? In-Depth Analysis

    2015| Christian Dreger, Malte Rieth, David Pothier
  • Diskussionspapiere 1496 / 2015

    The Real-Time Predictive Content of Asset Price Bubbles for Macro Forecasts

    This paper contributes to the debate of whether central banks can "lean against the wind" of emerging stock or house price bubbles. Against this background, the paper evaluates if new advances in real-time bubble detection, as brought forward by Phillips et al. (2011), can timely detect bubble emergences and collapses. Building on simulations, the paper shows that the detection capabilities of all ...

    2015| Benjamin Beckers
  • DIW Roundup 75 / 2015

    Monetary Policy and the Risk-Taking Channel

    Before the 2007 crisis, the trade-off between output and inflation played a leading role in the discussion of monetary policy. Instead, issues relating to financial stability played a less pronounced role in shaping the stance of monetary policy andwere limited to asset price dynamics. This Round-Up argues that the great interest that emerged after the 2007 crisis in the effects of monetary policy ...

    2015| Michele Piffer
  • DIW Wochenbericht 27 / 2015

    Über die Krise zur Einheit? 25 Jahre monetärer Integrationsprozess in Europa

    Am 1. Juli 1990 wurde mit dem Wegfall der Kapitalverkehrskontrollen in der Europäischen Wirtschaftsgemeinschaft die erste Stufe auf dem Weg zum Euro genommen. Der Weg dorthin war auch durch einen Kompromiss zwischen zwei Denkschulen gekennzeichnet – derjenigen, die davon ausging, dass der Schaffung der Zentralbank die weitergehende ökonomische Konvergenz und politische Integration folgen würde, und ...

    2015| Ferdinand Fichtner, Philipp König
  • DIW Economic Bulletin 27 / 2015

    A Stronger Union through Crisis? 25 Years of Monetary Integration in Europe

    On July 1, 1990, when capital controls in the European Economic Community were removed, the path was paved for the introduction of the euro. This path was marked by a compromise between two schools of thought—those who assumed that the creation of the European Central Bank would be followed by greater economic convergence and political integration, and those who saw the single currency as the coronation ...

    2015| Ferdinand Fichtner, Philipp König
  • DIW Berlin - Politikberatung kompakt 99 / 2015

    Quantitative Easing - What Are the Side Effects on Income and Wealth Distribution: In-Depth Analysis

    2015| Kerstin Bernoth, Philipp J. König, Benjamin Beckers, Caterina Forti Grazzini
  • Diskussionspapiere 1479 / 2015

    Euro Area Government Bonds: Integration and Fragmentation during the Sovereign Debt Crisis

    The paper analyzes the integration of euro area sovereign bond markets during the European sovereign debt crisis. It tests for contagion (i.e., an intensification in the transmission of shocks across countries), fragmentation (a reduction in spillovers) and flight-to-quality patterns, exploiting the heteroskedasticity of intraday changes in bond yields for identification. The paper finds that euro ...

    2015| Michael Ehrmann, Marcel Fratzscher
498 Ergebnisse, ab 441
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