Deflation Risk in the Euro Area and Central Bank Credibility

2016 ◽  
Author(s):  
Gabriele Galati ◽  
Zion Gorgi ◽  
Chen Zhou
Keyword(s):  
Central Bank ◽  
Euro Area ◽  
Central Bank Credibility

Deflation risk in the euro area and central bank credibility

2018 ◽  
Vol 167 ◽  
pp. 124-126 ◽  
Author(s):  
Gabriele Galati ◽  
Zion Gorgi ◽  
Richhild Moessner ◽  
Chen Zhou
Keyword(s):  
Central Bank ◽  
Euro Area ◽  
Central Bank Credibility

Forward Guidance and the Role of Central Bank Credibility under Heterogeneous Beliefs

2018 ◽  
Author(s):  
Gavin Goy ◽  
Cars H. Hommes ◽  
Kostas Mavromatis
Keyword(s):  
Central Bank ◽  
Heterogeneous Beliefs ◽  
Forward Guidance ◽  
Central Bank Credibility

Dramatis Institutiones

2017 ◽  
Author(s):  
C. Randall Henning
Keyword(s):  
European Union ◽  
Central Bank ◽  
International Monetary Fund ◽  
Euro Area ◽  
European Central Bank ◽  
The European Union ◽  
European Central ◽  
Regime Complex ◽  
Basic Facts ◽  
Institutional Conflict

The regime complex for crisis finance in the euro area included the European Council, Council of the European Union, and Eurogroup in addition to the three institutions of the troika. As the member states acted largely, though not exclusively, through the council system, these bodies stood at the center of the institutional mix. This chapter reviews the institutions as a prelude to examining the dilemmas that confronted them over the course of the crises. It presents a brief review of some of the basic facts about their origins, membership, and organization. Each section then delves more deeply into these institutions’ governance and principles to understand their capabilities and strategic challenges. As a consequence of different mandates and design, the European Commission, European Central Bank, and International Monetary Fund diverged with respect to their approach to financing, adjustment, conditionality, and debt sustainability. This divergence set the stage for institutional conflict in the country programs.

scholarly journals Central Bank Credibility and the Persistence of Inflation and Inflation Expectations

2012 ◽  
Vol 2012 (117) ◽  
Author(s):  
J. Scott Davis ◽  
Keyword(s):  
Central Bank ◽  
Inflation Expectations ◽  
Central Bank Credibility

scholarly journals Efektivitas Kredibilitas Bank Sentral terhadap Inflasi bagi Produsen dan Konsumen di Indonesia

2020 ◽  
Vol 20 (2) ◽  
pp. 174-196
Author(s):  
Rakhmat Prabowo ◽  
Mohamad Ikhsan
Keyword(s):  
Central Bank ◽  
Method Of Moments ◽  
Price Index ◽  
Generalized Method Of Moments ◽  
Wholesale Price ◽  
Producer Price ◽  
Core Inflation ◽  
Wholesale Price Index ◽  
The Impact ◽  
Central Bank Credibility

This study is intended to explain the impact of central bank credibility on inflation in Indonesia at the producer and consumer level. In this study, Central Bank Credibility is measured using an index with values between 0 (zero credibility) and 1 (perfect credibility). Generalized Method of Moments (GMM) method is used to analyze the impact of central bank credibility on inflation. Based on the results, central bank credibility can reduce inflation on both producer and consumer price. Central bank credibility is more sensitive towards producer price index compared to Gross Domestic Product (GDP) deflator and wholesale price index while at the consumer level, central bank credibility is more sensitive towards core inflation compared to headline inflation. -------------------------------------- Penelitian ini menjelaskan dampak kredibilitas Bank Sentral terhadap inflasi di Indonesia. Dampak kredibilitas Bank Sentral dianalisis pada tingkat produsen maupun konsumen. Untuk mengukur kredibilitas Bank Sentral, penelitian ini menggunakan indeks kredibilitas bernilai 0 (zero credibility) hingga 1 (perfect credibility). Metode Generalized Method of Moments (GMM) digunakan untuk menganalisis dampak kredibilitas Bank Sentral terhadap inflasi. Berdasarkan hasil empiris, kredibilitas Bank Sentral cenderung lebih memengaruhi inflasi pada Indeks Harga Produsen (IHP) dibandingkan Indeks Harga Perdagangan Besar (IHPB) dan deflator Produk Domestik Bruto (PDB). Kredibilitas Bank Sentral lebih memengaruhi inflasi inti dibandingkan dengan inflasi umum. Dari hasil empiris diketahui bahwa kredibilitas Bank Sentral lebih memengaruhi inflasi pada sisi produsen dibandingkan konsumen.

scholarly journals The Effect of Central Bank Credibility on Forward Guidance in an Estimated New Keynesian Model

2021 ◽  
Vol 2019 (375) ◽  
Author(s):  
Stephen J. Cole ◽  
◽  
Enrique Martínez-García ◽  
Keyword(s):  
Central Bank ◽  
New Keynesian ◽  
New Keynesian Model ◽  
Forward Guidance ◽  
Keynesian Model ◽  
Central Bank Credibility

Central Bank Credibility: An Historical and Quantitative Exploration

2016 ◽  
pp. 62-144 ◽  
Author(s):  
Michael D. Bordo ◽  
Pierre L. Siklos
Keyword(s):  
Central Bank ◽  
Central Bank Credibility
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