Refine
Document Type
- Working Paper (12)
- Article (1)
Keywords
- Asset Prices (1)
- ECB (1)
- Financial Stability (1)
- Inflation (1)
- Inflation Targeting (1)
- Monetary Policy (1)
- Monetary Targeting (1)
- Policy Rules (1)
- Price Stability (1)
Institute
- Center for Financial Studies (CFS) (13) (remove)
-
Lessons for monetary policy: what should the consensus be?
(2011)
- This paper outlines important lessons for monetary policy. In particular, the role of inflation targeting, which was much acclaimed prior to the financial crisis and since then has not lost much of its endorsement, is critically reviewed. Ignoring the relation between monetary policy and asset prices, as is the case in this monetary policy approach, can lead to financial instability. In contrast, giving, inter alia, monetary factors a role in central banks’ policy decisions, as is done in the ECB’s encompassing approach, helps prevent these potentially harmful side effects and thus allows for fostering financial stability. Finally, this paper makes a case against increasing the central banks’ inflation target. JEL Classification: E44, E52, E58 Keywords: Inflation Targeting, Asset Prices, Financial Stability, ECB
-
Der Weg aus der Krise : mehr Europa! Welches Europa?
(2012)
- Vortrag im Rahmen der Weimarer Reden 11. März 2012: - Einführung - Was ist mit „Europa“ gemeint? - Europa als politisches Ziel - Integration über die Wirtschaft - Die Rolle der einheitlichen Währung - Dimensionen der Krise - Transferunion, Fiskalunion, Politische Union
