ECB paper examines pre-Volcker monetary policy

ecb-frankfurt

A working paper, published by the European Central Bank (ECB) on May 25, examines monetary policy in the era before the governorship of Paul Volcker and the ‘Great Inflation'.

The authors, Florin Bilbiie and Roland Straub, use a dynamic general equilibrium model that focuses on asset market participation rather than policy mistakes by the Federal Reserve in the pre-Volcker era. They find evidence that changes in inflation outcomes in the two eras can be explained by increased asset market

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: