Artikel
ECB policies effective in the euro area and Germany
The European Central Bank has engaged in a wide range of nonstandard monetary policy measures since 2007. Each new tool was accompanied by an intense public debate on its effectiveness. This study evaluates the average effect of these measures on the macro-economy. The estimates show that unexpected changes in monetary policy that lower euro-area sovereign bond yields lead to a significant rise in real GDP, consumer prices, inflation expectations, and credit volume in the euro area. The effects on the German economy are very similar. All in all, the evaluation shows that non-standard monetary policy shocks are effective and contribute to fulfilling the central bank's mandate.
- Sprache
-
Englisch
- Erschienen in
-
Journal: DIW Economic Bulletin ; ISSN: 2192-7219 ; Volume: 6 ; Year: 2016 ; Issue: 7 ; Pages: 83-91 ; Berlin: Deutsches Institut für Wirtschaftsforschung (DIW)
- Klassifikation
-
Wirtschaft
Monetary Policy
Central Banks and Their Policies
Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
- Thema
-
central banks
monetary policy
inflation
structural VAR
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Rieth, Malte
Piffer, Michele
Hachula, Michael
- Ereignis
-
Veröffentlichung
- (wer)
-
Deutsches Institut für Wirtschaftsforschung (DIW)
- (wo)
-
Berlin
- (wann)
-
2016
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Rieth, Malte
- Piffer, Michele
- Hachula, Michael
- Deutsches Institut für Wirtschaftsforschung (DIW)
Entstanden
- 2016
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