Interests and 'Independence': The European Central Bank and the Theory of Bureaucracy. by Forder, J

“…The European Central Bank has an unprecedented degree of statutory independence. …”

The Case for an Independent European Central Bank: A Reassessment of Evidence and Sources. by Forder, J

Learning, uncertainty and central bank activism in an economy with strategic interactions. by Ellison, M, Valla, N

A mark-up model of inflation for the euro area. by Bowdler, C, Jansen, E

The Assessment: Macroeconomic Policy after EMU. by Allsopp, C, Vines, D

“…We focus on three important elements: the wage-fixing authorities in each country, the fiscal authorities in each country, and the single European Central Bank (ECB). We identify serious problems which might arise in coordinating both the wage-setters and the fiscal authorities, and argue that these problems could be exacerbated if the ECB conducts monetary policy inappropriately. …”

Inflation and output volatility under asymmetric incomplete information. by Carboni, G, Ellison, M

The Limits of "Independence" and the Policy of the ECB. by Forder, J

“…It is argued that the European Central Bank's independence is not as secure as it seems and that as a result it has appreciable institutional incentives to protect and enhance its position. …”

Some Issues in Modeling and Forecasting Inflation in South Africa. by Aron, J, Muellbauer, J

“…Central banks’ caution about inflation risks (expressed, for example, in the Federal Reserve minutes of 16 September 2008, released on 7 October, and the European Central Bank’s 2 October 2008 statement about the decision to leave interest rates unchanged) may have been understandable, given the inflation shocks of 2008. …”

Forecasting economic aggregates by disaggregates. by Hendry, D, Hubrich, K

Central Banks’ ‘Green Shift’ and the Energy Transition by Eliet-Doillet, A, Maino, A

“…In this paper, we first focus on the European Central Bank and the Bank of England, as they are among the first and more active institutions that have been implementing ‘green’ policies. …”

Economic forecasting : some lessons from recent research. by Hendry, D, Clements, M

Combining disaggregate forecasts or combining disaggregate information to forecast an aggregate. by Hendry, D, Hubrich, K

Interactions between Monetary Policy and Fiscal Rules. by Leith, C, Wren-Lewis, S

“…The Fiscal Stability Pact for EMU suggests that constraints on fiscal policy are thought by policy makers to be necessary to ensure that the independent European central bank can control inflation. In this paper we examine the interrelationship between monetary and fiscal policy when both follow simple rules. …”

System-wide stress testing & systemic risk by Kleinnijenhuis, AM

“…</p> <p>The cornerstone of my thesis is the development of a generic network-based method, comprised of these five building blocks (i.e. institutions, contracts, markets, constraints and behaviour), for system-wide stress testing – which has gained traction from leading central banks, including the Bank of England and the European Central Bank. Using this method, I implement two data-driven models to address some of the most salient financial stability questions of today. …”

Central bank swaps then and now: swaps and dollar liquidity in the 1960s by Catherine Schenk, McCauley, RN

“…In particular, we spotlight how in the 1960s the Federal Reserve, working in conjunction with the BIS and European central banks, repeatedly used swaps to manage eurodollar funding liquidity and Libor yields. …”