We revisit recent evidence on how monetary policy affects output and prices in the US and in
the euro area. The response patterns to a shift in monetary policy are similar in most …

This paper reviews research carried out on exchange rates and monetary policy by central
banks that participated at the Autumn Meeting of Central Bank Economists on" Exchange …

Calling into question the meaning of “independence” in contemporary central banking, the
present article investigates the social origins and post-crisis persistence of the European …

This paper uses an open economy DSGE model to analyse the short and long run
quantitative impact of a permanent oil price increase for output and inflation in the euro area …

This paper reviews the existing empirical evidence on the short term impact on prices of
fiscal variables and assesses it against new results from harmonised simulations, conducted …

In this article, we analyse the conduct of optimal monetary policy for the new euro area. The
aggregate euro area economy is modelled to have relatively sluggish adjustment properties …

This paper studies the design and effects of monetary and fiscal policy in the euro area. To
do so, a stylized two‐region model of monetary and fiscal policy rules in the EMU is built. We …

This paper estimates a linearised DSGE model for the euro area. The model is New
Keynesian and allows for a role for oil usage and endogenous price markups. The …

In this paper, we aim to design a monetary policy for the euro area that is robust to the high
degree of model uncertainty at the start of monetary union and allows for learning about …

This paper analyzes monetary policy in a stylized New-Keynesian model. A number of
issues are focused upon:(i) optimal monetary policy under commitment or discretion versus …