Michael Ehrmann

European Central Bank (ECB)

Sonnemannstrasse 22

Frankfurt am Main, 60314

Germany

Bank of Canada

234 Wellington Street

Ontario, Ottawa K1A 0G9

Canada

SCHOLARLY PAPERS

63

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1,788

Scholarly Papers (63)

Financial Systems and the Role of Banks in Monetary Policy Transmission in the Euro Area

Number of pages: 60 Posted: 17 Dec 2002
European Central Bank (ECB), Bank for International Settlements (BIS), Banco de España, Aix-Marseille University and Deutsche Bundesbank, Economics Department
Downloads 2,122 (9,917)
Citation 1

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Monetary policy transmission, financial structure, bank lending

Financial Systems and the Role of Banks in Monetary Policy Transmission in the Euro Area

Banque de France Working Paper No. 93
Number of pages: 50 Posted: 21 Dec 2010
European Central Bank (ECB), Bank for International Settlements (BIS), Aix-Marseille University, Deutsche Bundesbank, Economics Department and affiliation not provided to SSRN
Downloads 316 (132,716)
Citation 171

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monetary policy transmission, financial structure, bank lending

Financial Systems and the Role of Banks in Monetary Policy Transmission in the Euro Area

Bundesbank Series 1 Discussion Paper No. 2001,18
Number of pages: 60 Posted: 08 Jun 2016
European Central Bank (ECB), Bank for International Settlements (BIS), Banco de España, Aix-Marseille University and Deutsche Bundesbank, Economics Department
Downloads 18 (733,510)
Citation 3

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monetary policy transmission, financial structure, bank lending

2.
Downloads 1,435 ( 18,724)
Citation 28

Global Crises and Equity Market Contagion

Number of pages: 56 Posted: 03 Jun 2011 Last Revised: 26 Jul 2012
Columbia University - Columbia Business School, Finance, European Central Bank (ECB), DIW Berlin and European Central Bank (ECB)
Downloads 1,193 (24,249)
Citation 2

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contagion; financial crisis; equity markets; global transmission; market integration; country risk; factor model; financial policies; FX reserves, current account

Global Crises and Equity Market Contagion

ECB Working Paper No. 1381
Number of pages: 48 Posted: 13 Sep 2011
Columbia University - Columbia Business School, Finance, European Central Bank (ECB), DIW Berlin and European Central Bank (ECB)
Downloads 88 (392,336)

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Contagion, financial crisis, equity markets, global transmission, market integration, country risk, factor model, financial policies, FX reserves, current account

Global Crises and Equity Market Contagion

Number of pages: 55 Posted: 16 Mar 2012
Columbia University - Columbia Business School, Finance, European Central Bank (ECB), DIW Berlin and European Central Bank (ECB)
Downloads 70 (448,429)
Citation 4

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contagion, financial crisis, equity markets, global transmission, market integration, country risk, factor model, financial policies, FX reserves, current account

Global Crises and Equity Market Contagion

Netspar Discussion Paper No. 05/2011-070
Number of pages: 57 Posted: 31 Aug 2011 Last Revised: 23 Nov 2012
Columbia University - Columbia Business School, Finance, European Central Bank (ECB), DIW Berlin and European Central Bank (ECB)
Downloads 43 (563,131)
Citation 1

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contagion, financial crisis, equity markets, global transmission, market integration, country risk, factor model, financial policies, FX reserves, current account

Global Crises and Equity Market Contagion

NBER Working Paper No. w17121
Number of pages: 57 Posted: 20 Jun 2011 Last Revised: 14 Apr 2022
Columbia University - Columbia Business School, Finance, European Central Bank (ECB), DIW Berlin and European Central Bank (ECB)
Downloads 36 (601,872)
Citation 6

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Global Crises and Equity Market Contagion

CEPR Discussion Paper No. DP8438
Number of pages: 44 Posted: 16 Jun 2011
Columbia University - Columbia Business School, Finance, European Central Bank (ECB), DIW Berlin and European Central Bank (ECB)
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contagion, country risk, current account, equity markets, factor model, financial crisis, financial policies, FX reserves, global transmission, market integration

3.

Taking Stock: Monetary Policy Transmission to Equity Markets

Number of pages: 48 Posted: 22 Oct 2004
Michael Ehrmann and Marcel Fratzscher
European Central Bank (ECB) and DIW Berlin
Downloads 1,070 (28,830)
Citation 11

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monetary policy, stock market, credit channel, Tobin's q, financial constraints, S&P500, propensity score matching

Central Bank Communication and Monetary Policy: A Survey of Theory and Evidence

ECB Working Paper No. 898
Number of pages: 57 Posted: 14 May 2008
Princeton University - Department of Economics, European Central Bank (ECB), DIW Berlin, University of Groningen - Faculty of Economics and BusinessDe Nederlandsche Bank and De Nederlandsche Bank
Downloads 290 (145,438)
Citation 65

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Communication, central bank, monetary policy

Central Bank Communication and Monetary Policy: A Survey of Theory and Evidence

NBER Working Paper No. w13932
Number of pages: 74 Posted: 11 Apr 2008 Last Revised: 26 Jan 2022
Princeton University - Department of Economics, European Central Bank (ECB), DIW Berlin, University of Groningen - Faculty of Economics and BusinessDe Nederlandsche Bank and De Nederlandsche Bank
Downloads 204 (205,476)

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The Pitch Rather than the Pit: Investor Inattention During FIFA World Cup Matches

ECB Working Paper No. 1424
Number of pages: 37 Posted: 21 Feb 2012
Michael Ehrmann and David-Jan Jansen
European Central Bank (ECB) and De Nederlandsche Bank
Downloads 410 (99,350)

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investor inattention, stock markets, trading volume, high‐frequency data, soccer

The Pitch Rather than the Pit: Investor Inattention During FIFA World Cup Matches

Number of pages: 37 Posted: 09 Mar 2012
Michael Ehrmann and David-Jan Jansen
European Central Bank (ECB) and De Nederlandsche Bank
Downloads 41 (573,863)
Citation 8

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investor inattention, stock markets, trading volume, high-frequency data, soccer

The Pitch Rather than the Pit: Investor Inattention During FIFA World Cup Matches

De Nederlandsche Bank Working Paper No. 337
Number of pages: 38 Posted: 17 Feb 2012
Michael Ehrmann and David-Jan Jansen
European Central Bank (ECB) and De Nederlandsche Bank
Downloads 34 (613,753)
Citation 3

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investor inattention, stock markets, trading volume, high-frequency data, soccer

6.

Monetary Policy Transmission in the Euro Area: Any Changes after Emu?

Number of pages: 50 Posted: 02 Dec 2003
Ignazio Angeloni and Michael Ehrmann
Italian Finance Ministry - International Financial Relations and European Central Bank (ECB)
Downloads 454 (88,972)
Citation 10

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Monetary policy transmission; euro; bank and financial integration

7.

Regime-Dependent Impulse Response Functions in a Markov-Switching Vector Autoregression Model

Bank of Finland Discussion Paper No. 11/2001
Number of pages: 27 Posted: 23 Jul 2002
Michael Ehrmann, Martin Ellison and Natacha Valla
European Central Bank (ECB), University of Oxford and European Union - European Investment Bank
Downloads 448 (90,322)
Citation 23

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vector autoregression, regime switching, shocks, new economy

Stocks, Bonds, Money Markets and Exchange Rates: Measuring International Financial Transmission

EFA 2005 Moscow Meetings Paper, ECB Working Paper No. 452
Number of pages: 49 Posted: 21 Feb 2005
Michael Ehrmann, Roberto Rigobon and Marcel Fratzscher
European Central Bank (ECB), Massachusetts Institute of Technology (MIT) - Sloan School of Management and DIW Berlin
Downloads 334 (125,298)

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international financial markets, integration, transmission, financial market linkages, identification, heteroskedasticity, asset pricing, United States, euro area

Stocks, Bonds, Money Markets and Exchange Rates: Measuring International Financial Transmission

NBER Working Paper No. w11166
Number of pages: 41 Posted: 30 Mar 2005 Last Revised: 05 Jan 2022
Michael Ehrmann, Roberto Rigobon and Marcel Fratzscher
European Central Bank (ECB), Massachusetts Institute of Technology (MIT) - Sloan School of Management and DIW Berlin
Downloads 54 (510,723)
Citation 16

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Communication of Monetary Policy in Unconventional Times

ECB Working Paper No. 2080
Number of pages: 47 Posted: 29 Jun 2017
European Central Bank (ECB), European Central Bank (ECB), Banque de France, European Central Bank (ECB), European Central Bank (ECB)CEPR, European Central Bank (ECB), European Central Bank (ECB) and European Central Bank (ECB) - Directorate General Research
Downloads 323 (129,836)

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central bank communication, unconventional monetary policy, asset purchase programme, forward guidance

Communication of Monetary Policy in Unconventional Times

CFS Working Paper, WP No. 578
Number of pages: 47 Posted: 27 Sep 2017
European Central Bank (ECB), European Central Bank (ECB), Banque de France, European Central Bank (ECB), European Central Bank (ECB)CEPR, European Central Bank (ECB), European Central Bank (ECB) and European Central Bank (ECB) - Directorate General Research
Downloads 57 (498,013)
Citation 23

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Central Bank Communication, Unconventional Monetary Policy, Asset Purchase Programme, Forward Guidance

10.

Inflation Persistence and Price-Setting Behaviour in the Euro Area - a Summary of the Ipn Evidence

ECB Occasional Paper No. 46
Number of pages: 58 Posted: 01 Jun 2006
Filippo Altissimo, Michael Ehrmann and Frank Smets
Brevan Howard Asset Management LLP, European Central Bank (ECB) and European Central Bank (ECB)
Downloads 362 (115,376)
Citation 4

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Price setting, inflation persistence, monetary policy, EMU

11.

Communication and Decision-Making by Central Bank Committees: Different Strategies, Same Effectiveness?

Number of pages: 56 Posted: 01 Jun 2005
Michael Ehrmann and Marcel Fratzscher
European Central Bank (ECB) and DIW Berlin
Downloads 276 (153,647)
Citation 38

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communication, monetary policy, committee, effectiveness, strategies, Federal Reserve, Bank of England, European Central Bank

12.

How Should Central Banks Communicate?

ECB Working Paper No. 557
Number of pages: 46 Posted: 05 Dec 2005
Michael Ehrmann and Marcel Fratzscher
European Central Bank (ECB) and DIW Berlin
Downloads 268 (158,364)
Citation 1

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communication, monetary policy, committee, effectiveness, economic outlook, Federal Reserve, Bank of England, European Central Bank

13.

Euro Area Inflation Differentials

Number of pages: 47 Posted: 10 Dec 2004
Ignazio Angeloni and Michael Ehrmann
Italian Finance Ministry - International Financial Relations and European Central Bank (ECB)
Downloads 267 (158,953)
Citation 3

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currency union, inflation differentials, inflation persistence, euro area

14.

Explaining Monetary Policy in Press Conferences

ECB Working Paper No. 767
Number of pages: 43 Posted: 28 Jun 2007
Michael Ehrmann and Marcel Fratzscher
European Central Bank (ECB) and DIW Berlin
Downloads 251 (169,047)
Citation 22

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Monetary policy, financial markets, real-time analysis, press conference, communication, European Central Bank

15.

Exchange Rates and Fundamentals: New Evidence from Real-Time Data

Number of pages: 47 Posted: 01 Dec 2004
Michael Ehrmann and Marcel Fratzscher
European Central Bank (ECB) and DIW Berlin
Downloads 251 (169,047)
Citation 4

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exchange rates, fundamentals, announcements, news, real-time data, United States, euro area, interdependence, US dollar euro, EMU

16.

Consumers' Attitudes and Their Inflation Expectations

FEDS Working Paper No. 2015-015, http://dx.doi.org/10.17016/FEDS.2015.015
Number of pages: 31 Posted: 19 Apr 2015
Michael Ehrmann, Damjan Pfajfar and Emiliano Santoro
European Central Bank (ECB), Board of Governors of the Federal Reserve System and University of Copenhagen - Department of Economics
Downloads 243 (174,343)
Citation 8

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Consumer Attitudes, Inflation Expectations, News on Inflation

17.
Downloads 236 (179,328)
Citation 49

Global Financial Transmission of Monetary Policy Shocks

ECB Working Paper No. 616, CESifo Working Paper Series No. 1710
Number of pages: 56 Posted: 05 May 2006
Michael Ehrmann and Marcel Fratzscher
European Central Bank (ECB) and DIW Berlin
Downloads 231 (182,579)
Citation 23

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global financial markets, monetary policy, transmission, financial integration, United States, advanced economies, emerging market economies

Global Financial Transmission of Monetary Policy Shocks

Oxford Bulletin of Economics and Statistics, Vol. 71, Issue 6, pp. 739-759, December 2009
Number of pages: 21 Posted: 20 Oct 2009
Michael Ehrmann and Marcel Fratzscher
European Central Bank (ECB) and DIW Berlin
Downloads 5 (860,811)

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18.

Transparency, Disclosure and the Federal Reserve

Number of pages: 45 Posted: 11 May 2005
Michael Ehrmann and Marcel Fratzscher
European Central Bank (ECB) and DIW Berlin
Downloads 231 (183,002)
Citation 2

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transparency; monetary policy; announcements; communication; disclosure

19.

Interdependence between the Euro Area and the Us: What Role for Emu?

Number of pages: 54 Posted: 04 Feb 2003
Michael Ehrmann and Marcel Fratzscher
European Central Bank (ECB) and DIW Berlin
Downloads 222 (189,940)
Citation 1

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Interdependence, announcements, money markets, real-time data, euro area

20.
Downloads 203 (206,569)
Citation 20

Central Bank Communication on Financial Stability

ECB Working Paper No. 1332
Number of pages: 38 Posted: 25 Apr 2011
Benjamin Born, Michael Ehrmann and Marcel Fratzscher
Frankfurt School of Finance & Management, European Central Bank (ECB) and DIW Berlin
Downloads 125 (309,095)

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central bank, financial stability, communication, event study

Central Bank Communication on Financial Stability

National Bank of Poland Working Paper No. 93
Number of pages: 39 Posted: 15 Sep 2011 Last Revised: 08 Jul 2016
Benjamin Born, Michael Ehrmann and Marcel Fratzscher
Frankfurt School of Finance & Management, European Central Bank (ECB) and DIW Berlin
Downloads 78 (421,858)
Citation 21

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central bank, financial stability, communication, event study

21.

The Predictability of Monetary Policy

ECB Occasional Paper No. 83
Number of pages: 41 Posted: 14 Mar 2008
European Central Bank (ECB) - Directorate General Economics, European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB) and International Monetary Fund
Downloads 195 (214,158)
Citation 4

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Predictability, central bank transparency, central bank communication

22.

Firm Size and Monetary Policy Transmission: Evidence from German Business Survey Data

Number of pages: 35 Posted: 12 Jul 2004
Michael Ehrmann
European Central Bank (ECB)
Downloads 172 (238,672)

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23.
Downloads 166 (245,946)
Citation 18

Monetary Policy in the Media

ECB Working Paper No. 679
Number of pages: 55 Posted: 10 Oct 2006
Helge Berger, Michael Ehrmann and Marcel Fratzscher
Free University Berlin - Department of Economics, European Central Bank (ECB) and DIW Berlin
Downloads 164 (248,858)

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monetary policy, ECB, communication, media, press, coverage, transparency, accountability

Monetary Policy in the Media

CEPR Discussion Paper No. DP8192
Number of pages: 27 Posted: 31 Jan 2011
Helge Berger, Michael Ehrmann and Marcel Fratzscher
Free University Berlin - Department of Economics, European Central Bank (ECB) and DIW Berlin
Downloads 2 (898,262)
Citation 7
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communication, coverage, ECB, media, monetary policy, press

Convergence and Anchoring of Yield Curves in the Euro Area

ECB Working Paper No. 817
Number of pages: 52 Posted: 19 Oct 2007
European Central Bank (ECB), DIW Berlin, Bilkent University - Department of Economics and University of California, Irvine - Department of Economics
Downloads 99 (364,094)

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bond markets, euro area, EMU, convergence, anchoring, credibility, monetary policy

Convergence and Anchoring of Yield Curves in the Euro Area

FRB of San Francisco Working Paper No. 2007-24
Number of pages: 46 Posted: 02 Nov 2007
European Central Bank (ECB), DIW Berlin, Bilkent University - Department of Economics and University of California, Irvine - Department of Economics
Downloads 55 (506,383)
Citation 25

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bond markets, euro area, EMU; convergence, anchoring, credibility

Convergence and Anchoring of Yield Curves in the Euro Area

CEPR Discussion Paper No. DP6456
Number of pages: 48 Posted: 30 May 2008
European Central Bank (ECB), DIW Berlin, Bilkent University - Department of Economics and University of California, Irvine - Department of Economics
Downloads 6 (850,189)
Citation 7
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anchoring, bond markets, convergence, credibility, EMU, euro area, monetary policy

Equal Size, Equal Role? Interest Rate Interdependence between the Euro Area and the United States

Number of pages: 52 Posted: 25 Aug 2004
Michael Ehrmann and Marcel Fratzscher
European Central Bank (ECB) and DIW Berlin
Downloads 83 (406,587)
Citation 2

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interdependence, announcements, news, money markets, real-time data, United States, euro area

Equal Size, Equal Role? Interest Rate Interdependence between the Euro Area and the United States

Number of pages: 40 Posted: 29 May 2004
Michael Ehrmann and Marcel Fratzscher
European Central Bank (ECB) and DIW Berlin
Downloads 73 (438,135)
Citation 7

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Interdependence, announcements, news, money markets, real-time data, United States, euro area

Interbank Lending and Monetary Policy Transmission: Evidence for Germany

Deutsche Bundesbank Working Paper No. 11/01; ECB Working Paper No. 73
Number of pages: 48 Posted: 05 Feb 2002
Andreas Worms and Michael Ehrmann
Deutsche Bundesbank, Economics Department and European Central Bank (ECB)
Downloads 139 (284,975)

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monetary policy, bank lending channel, interbank market

Interbank Lending and Monetary Policy Transmission: Evidence for Germany

Bundesbank Series 1 Discussion Paper No. 2001,11
Number of pages: 49 Posted: 08 Jun 2016
Michael Ehrmann and Andreas Worms
European Central Bank (ECB) and Deutsche Bundesbank, Economics Department
Downloads 11 (798,868)
Citation 1

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monetary policy, bank lending channel, interbank market

27.

The Euro Exchange Rate During the European Sovereign Debt Crisis - Dancing to Its Own Tune?

ECB Working Paper No. 1532
Number of pages: 46 Posted: 08 May 2013
Michael Ehrmann, Chiara Osbat, Jan Strasky and Lenno Uusküla
European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB) and Bank of Estonia
Downloads 147 (271,808)
Citation 1

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exchange rates, fundamentals, announcements, sovereign debt crisis

28.

Rational Inattention, Inflation Developments and Perceptions after the Euro Cash Changeover

ECB Working Paper No. 588
Number of pages: 52 Posted: 23 Mar 2006
Michael Ehrmann
European Central Bank (ECB)
Downloads 146 (273,305)
Citation 1

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rational inattention, perceived inflation, euro cash changeover

29.

The Global Crisis and Equity Market Contagion

DIW Berlin Discussion Paper No. 1352, Columbia Business School Research Paper No. 14-26
Number of pages: 64 Posted: 30 Jan 2014 Last Revised: 15 Sep 2014
Columbia University - Columbia Business School, Finance, European Central Bank (ECB), DIW Berlin and European Central Bank (ECB)
Downloads 145 (274,832)
Citation 43

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contagion, financial crisis, equity markets, global transmission, market integration, country risk, factor model, financial policies, FX reserves, current account

Necessity As the Mother of Invention: Monetary Policy after the Crisis

ECB Working Paper No. 2047
Number of pages: 62 Posted: 22 Apr 2017
Princeton University - Department of Economics, European Central Bank (ECB), University of Groningen - Faculty of Economics and BusinessDe Nederlandsche Bank and De Nederlandsche Bank
Downloads 66 (462,714)
Citation 1

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monetary policy, central banks, surveys

Necessity As the Mother of Invention Monetary Policy after the Crisis

De Nederlandsche Bank Working Paper No. 525
Number of pages: 64 Posted: 12 Oct 2016
Princeton University - Department of Economics, European Central Bank (ECB), University of Groningen - Faculty of Economics and BusinessDe Nederlandsche Bank and De Nederlandsche Bank
Downloads 55 (506,383)

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monetary policy; central banks; surveys

Necessity as the Mother of Invention: Monetary Policy after the Crisis

NBER Working Paper No. w22735
Number of pages: 68 Posted: 17 Oct 2016 Last Revised: 14 Feb 2021
Princeton University - Department of Economics, European Central Bank (ECB), University of Groningen - Faculty of Economics and BusinessDe Nederlandsche Bank and De Nederlandsche Bank
Downloads 17 (742,266)
Citation 20

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Forecasting ECB Monetary Policy: Accuracy is (Still) a Matter of Geography

ECB Working Paper No. 578
Number of pages: 49 Posted: 17 Jan 2006
Michael Ehrmann, Marcel Fratzscher and Helge Berger
European Central Bank (ECB), DIW Berlin and Free University Berlin - Department of Economics
Downloads 72 (441,563)

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monetary policy, ECB, forecast, geography, history, heterogeneity, Taylor rule, learning, transmission, survey data, communication

Forecasting ECB Monetary Policy: Accuracy is (Still) a Matter of Geography

IMF Working Paper No. 06/41
Number of pages: 42 Posted: 23 Mar 2006
Helge Berger, Michael Ehrmann and Marcel Fratzscher
Free University Berlin - Department of Economics, European Central Bank (ECB) and DIW Berlin
Downloads 63 (474,013)
Citation 1

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monetary policy, ECB, forecast, geography, history, heterogeneity, Taylor rule, learning, transmission, survey data, communication

32.

Memories of High Inflation

ECB Working Paper No. 1095
Number of pages: 42 Posted: 26 Sep 2009
Michael Ehrmann and Panagiota Tzamourani
European Central Bank (ECB) and Deutsche Bundesbank
Downloads 134 (292,028)
Citation 4

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inflation aversion, inflation memories, hyperinflation, World Values Survey, inflation targeting

33.

Household Risk Management and Actual Mortgage Choice in the Euro Area

ECB Working Paper No. 1631
Number of pages: 38 Posted: 11 Feb 2014
Michael Ehrmann and Michael Ziegelmeyer
European Central Bank (ECB) and Banque centrale du Luxembourg
Downloads 121 (315,133)
Citation 1

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mortgage choice, fixed-rate mortgage, adjustable-rate mortgage, household finance, monetary policy

34.

The Timing of Central Bank Communication

ECB Working Paper No. 565
Number of pages: 34 Posted: 29 Dec 2005
Michael Ehrmann and Marcel Fratzscher
European Central Bank (ECB) and DIW Berlin
Downloads 117 (322,643)
Citation 14

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communication, central bank, monetary policy, timing

35.

Social Value of Public Information - Testing the Limits to Transparency

ECB Working Paper No. 821
Number of pages: 42 Posted: 01 Nov 2007
Michael Ehrmann and Marcel Fratzscher
European Central Bank (ECB) and DIW Berlin
Downloads 115 (326,574)
Citation 2

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Communication, transparency, monetary policy, predictability

36.

Euro Area Government Bonds: Integration and Fragmentation During the Sovereign Debt Crisis

DIW Berlin Discussion Paper No. 1479
Number of pages: 37 Posted: 08 May 2015
Michael Ehrmann and Marcel Fratzscher
European Central Bank (ECB) and DIW Berlin
Downloads 113 (330,578)
Citation 4

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Sovereign debt, European crisis, integration, fragmentation, contagion, policy, ECB, high-frequency data, identification

Stock Return Comovement When Investors are Distracted: More, and More Homogeneous

ECB Working Paper No. 20202412
Number of pages: 32 Posted: 19 May 2020
Michael Ehrmann and David-Jan Jansen
European Central Bank (ECB) and De Nederlandsche Bank
Downloads 110 (338,883)

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comovement, investor attention, stock returns

Stock Return Comovement When Investors are Distracted: More, and More Homogeneous

CEPR Discussion Paper No. DP14713
Number of pages: 31 Posted: 08 May 2020 Last Revised: 18 May 2020
Michael Ehrmann and David-Jan Jansen
European Central Bank (ECB) and De Nederlandsche Bank
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comovement, investor attention, Stock returns

38.

The Pricing of G7 Sovereign Bond Spreads: The Times, They are A-Changin

ECB Working Paper No. 1520
Number of pages: 52 Posted: 08 Mar 2013
Antonello D'Agostino and Michael Ehrmann
European Stability Mechanism and European Central Bank (ECB)
Downloads 107 (343,155)

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sovereign spreads, fiscal policy, time‐varying coefficients

39.

It Hurts (Stock Prices) When Your Team is About to Lose a Soccer Match

De Nederlandsche Bank Working Paper No. 412
Number of pages: 37 Posted: 29 Jan 2014
Michael Ehrmann and David-Jan Jansen
European Central Bank (ECB) and De Nederlandsche Bank
Downloads 106 (345,361)
Citation 3

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investor mood, cross-listed firms, stock market efficiency, high-frequency data, soccer

40.

Uncertain Potential Output: Implications for Monetary Policy

Number of pages: 57 Posted: 10 Feb 2003
Michael Ehrmann and Frank Smets
European Central Bank (ECB) and European Central Bank (ECB)
Downloads 104 (349,797)
Citation 2

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Monetary policy rules; potential output; uncertainty

41.

Starting from a Blank Page? Semantic Similarity in Central Bank Communication and Market Volatility

ECB Working Paper No. 2023
Number of pages: 37 Posted: 24 Feb 2017
Michael Ehrmann and Jonathan Talmi
European Central Bank (ECB) and Government of Canada - Bank of Canada
Downloads 100 (358,968)
Citation 10

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Central Bank Communication, Bank of Canada, Semantic Similarity, Volatility, ARCH Models

42.

Clear, Consistent and Engaging: ECB Monetary Policy Communication in a Changing World

ECB Occasional Paper No. 2021/274
Number of pages: 91 Posted: 23 Sep 2021 Last Revised: 19 Jan 2022
European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), Deutsche Bundesbank, European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB) - Directorate General International and European Relations, European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), Bank of Italy, European Central Bank (ECB) - Directorate General Research, Národná banka Slovenska, European Central Bank (ECB) - Directorate General International and European Relations, European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), Banco de España, European Central Bank (ECB), Frankfurt School of Finance and Management, European Central Bank (ECB), European Central Bank (ECB), Deutsche Bundesbank, Deutsche Bundesbank, Oesterreichische Nationalbank (OeNB), Bank of Greece, European Central Bank (ECB), European Central Bank (ECB), Bank of Greece, European Central Bank (ECB), European Central Bank (ECB), Bank of Slovenia, National Bank of Belgium, European Central Bank (ECB), Banque de France, Goethe University Frankfurt, Bank of Finland, Deutsche Bundesbank, Latvijas Banka, Deutsche BundesbankGoethe University Frankfurt - House of Finance, Banco de España, De Nederlandsche Bank, Národná banka Slovenska, Bank of Estonia, National Bank of Belgium, Central Bank of Cyprus and European Central Bank (ECB)
Downloads 98 (363,695)

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accountability, central bank, forward guidance, transparency, trust

The Role of Central Bank Transparency for Guiding Private Sector Forecasts

ECB Working Paper No. 1146
Number of pages: 44 Posted: 26 Jan 2010
European Central Bank (ECB), Tilburg University (CentER) - Department of Economics and DIW Berlin
Downloads 89 (389,521)
Citation 2

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central banking, transparency, disagreement, survey expectations, monetary policy, inflation targeting, central bank communication, forecasting

The Role of Central Bank Transparency for Guiding Private Sector Forecasts

CEPR Discussion Paper No. DP7585
Number of pages: 41 Posted: 11 Jan 2010
European Central Bank (ECB), Tilburg University (CentER) - Department of Economics and DIW Berlin
Downloads 5 (860,811)
Citation 3
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central bank communication, central banking, disagreement, forecasting, inflation targeting, monetary policy, survey expectations, transparency

The Role of Central Bank Transparency for Guiding Private Sector Forecasts

The Scandinavian Journal of Economics, Vol. 114, Issue 3, pp. 1018-1052, 2012
Number of pages: 35 Posted: 23 Aug 2012
European Central Bank (ECB), Tilburg University (CentER) - Department of Economics and DIW Berlin
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Central bank communication, disagreement, inflation targeting, monetary policy, survey expectations

44.

The Ecb's Price Stability Framework: Past Experience, and Current and Future Challenges

ECB Occasional Paper No. 2021269
Number of pages: 128 Posted: 23 Sep 2021 Last Revised: 18 Nov 2021
Bank of Italy, European Central Bank (ECB), European Central Bank (ECB), Banque de France - Centre de Recherche, Bank of Latvia, ECB -DG Monetary Policy, De Nederlandsche Bank, European Central Bank (ECB), Bank of Portugal, European Central Bank (ECB), European Central Bank (ECB), Bank of Italy, European Central Bank (ECB), Banque de France, Bank of Finland - Research, Central Bank of Cyprus, Deutsche BundesbankEuropean Central Bank (ECB)University of Kiel, European Central BankECB, European Central Bank (ECB), Central Bank of Ireland, Banco de España, Bank of Italy, Deutsche Bundesbank, Deutsche Bundesbank, Banque de France, European Central Bank (ECB), European Central Bank (ECB), De Nederlandsche Bank, European Central Bank, University of St. Gallen, European Central Bank (ECB) - Directorate General Research, European Central Bank (ECB), Bank of Finland, Central Bank of Ireland, European Central Bank (ECB), Deutsche Bundesbank, European Central Bank (ECB), Národná banka Slovenska, European Central Bank (ECB), European Central Bank (ECB), Banque de France, Deutsche Bundesbank, Bank of Greece, European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), Frankfurt School of Finance and Management, European Central Bank, European Central Bank, Banco de España, European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), Deutsche Bundesbank, National Bank of Belgium, Bank of Italy and Bank of Italy
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effective lower bound, euro area, European Central Bank, monetary policy strategy, price stability

45.

Does Inflation Targeting Increase Output Volatility? an International Comparison of Policymakers&Apos; Preferences and Outcomes

NBER Working Paper No. w7426
Number of pages: 37 Posted: 06 Feb 2000 Last Revised: 18 Apr 2021
National Bureau of Economic Research (NBER)Brandeis International Business School and European Central Bank (ECB)
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Citation 2

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Geography or Skills: What Explains Fed Watchers' Forecast Accuracy of Us Monetary Policy?

ECB Working Paper No. 695
Number of pages: 40 Posted: 07 Dec 2006
Helge Berger, Michael Ehrmann and Marcel Fratzscher
Free University Berlin - Department of Economics, European Central Bank (ECB) and DIW Berlin
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Citation 2

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monetary policy, forecast; Federal Reserve, FOMC, geography, skills, heterogeneity, survey data, communication, United States

Geography or Skills: What Explains Fed Watchers' Forecast Accuracy of US Monetary Policy?

AFA 2008 New Orleans Meetings Paper
Number of pages: 32 Posted: 12 Feb 2007
Helge Berger, Michael Ehrmann and Marcel Fratzscher
Free University Berlin - Department of Economics, European Central Bank (ECB) and DIW Berlin
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Citation 3

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monetary policy, forecast, Federal Reserve, FOMC, geography, skills, heterogeneity, survey data, communication, United States

Central Bank Communication with Non-Experts: A Road to Nowhere?

ECB Working Paper No. 2021/2594
Number of pages: 63 Posted: 05 Oct 2021
Michael Ehrmann, Alena Wabitsch and Alena Wabitsch
European Central Bank (ECB) and University of Oxfordaffiliation not provided to SSRN
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central bank communication, monetary policy, non-experts, social media

Central Bank Communication with Non-Experts - a Road to Nowhere?

CEPR Discussion Paper No. DP16525
Number of pages: 62 Posted: 22 Sep 2021
Michael Ehrmann, Alena Wabitsch and Alena Wabitsch
European Central Bank (ECB) and University of Oxfordaffiliation not provided to SSRN
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central bank communication, monetary policy, non-experts, social media

48.

Explaining EU Citizens’ Trust in the ECB in Normal and Crisis Times

ECB Working Paper No. 1501
Number of pages: 31 Posted: 09 Feb 2013
Michael Ehrmann, Michel Soudan and Livio Stracca
European Central Bank (ECB), European Central Bank (ECB) and European Central Bank (ECB)
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Citation 3

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Trust, Eurobarometer, global financial crisis, public opinion, European Central Bank

49.

Purdah: On the Rationale for Central Bank Silence Around Policy Meetings

ECB Working Paper No. 868
Number of pages: 39 Posted: 26 Feb 2008
Michael Ehrmann and Marcel Fratzscher
European Central Bank (ECB) and DIW Berlin
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Citation 7

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Purdah, communication, transparency, monetary policy, interest rates, effectiveness, Federal Reserve

50.

Inflation Persistence and Price-Setting Behaviour in the Euro Area: A Summary of the Inflation Persistence Network Evidence

National Bank of Belgium Working Paper No. 95
Number of pages: 58 Posted: 09 Oct 2010
Filippo Altissimo, Michael Ehrmann and Frank Smets
affiliation not provided to SSRN, European Central Bank (ECB) and European Central Bank (ECB)
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Citation 103

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price-setting, inflation persistence, monetary policy, EMU

51.

The Reception of Public Signals in Financial Markets: What if Central Bank Communication Becomes Stale?

ECB Working Paper No. 1077
Number of pages: 35 Posted: 24 Aug 2009
Michael Ehrmann and David Sondermann
European Central Bank (ECB) and European Central Bank (ECB)
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public signals, inflation reports, monetary policy, interest rates, announcement effects, co-ordination of beliefs, Bank of England

Point Targets, Tolerance Bands, or Target Ranges? Inflation Target Types and the Anchoring of Inflation Expectations

ECB Working Paper No. 2021/2562
Number of pages: 47 Posted: 01 Jun 2021
Michael Ehrmann
European Central Bank (ECB)
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Point Targets, Tolerance Bands, or Target Ranges? Inflation Target Types and the Anchoring of Inflation Expectations

CESifo Working Paper No. 9034
Number of pages: 45 Posted: 23 Apr 2021
Michael Ehrmann
European Central Bank (ECB)
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Citation 1

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Point Targets, Tolerance Bands, or Target Ranges? Inflation Target Types and the Anchoring of Inflation Expectations

CEPR Discussion Paper No. DP16046
Number of pages: 46 Posted: 14 May 2021
Michael Ehrmann
European Central Bank (ECB)
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53.

Monetary Policy Communication: Perspectives from Former Policy Makers at the ECB

ECB Working Paper No. 2021/2627
Number of pages: 43 Posted: 18 Dec 2021
European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB) and Central Bank of Ireland
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central bank communication, monetary policy, survey

54.

Macroeconomic Experiences and Risk Taking of Euro Area Households

ECB Working Paper No. 1652
Number of pages: 38 Posted: 20 Mar 2014
Miguel Ampudia and Michael Ehrmann
Boston University - Department of Economics and European Central Bank (ECB)
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Citation 5

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risk‐taking behaviour, household finance, learning, portfolio choice, rare disasters

Voting Right Rotation, Behavior of Committee Members and Financial Market Reactions: Evidence from the U.S. Federal Open Market Committee

ECB Working Paper No. 2021/2569
Number of pages: 56 Posted: 22 Jun 2021
Michael Ehrmann, Robin Tietz and Bauke Visser
European Central Bank (ECB), Cass Business School - Faculty of Finance and Erasmus University Rotterdam - Department of Economics
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Voting right rotation, behavior of committee members and financial market reactions: Evidence from the U.S. Federal Open Market Committee

Tinbergen Institute Discussion Paper 2021-050/VII
Number of pages: 54 Posted: 08 Jun 2021
Michael Ehrmann, Robin Tietz and Bauke Visser
European Central Bank (ECB), Cass Business School - Faculty of Finance and Erasmus University Rotterdam - Department of Economics
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voting right rotation, monetary policy committee, central bank communication, FOMC, financial market response

Voting Right Rotation, Behavior of Committee Members and Financial Market Reactions: Evidence from the U.S. Federal Open Market Committee

IMF Working Paper No. 2022/105
Number of pages: 44 Posted: 07 Jun 2022
Michael Ehrmann, Robin Tietz and Bauke Visser
European Central Bank (ECB), International Monetary Fund (IMF) and Erasmus University Rotterdam - Department of Economics
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voting right rotation, monetary policy committee, central bank communication, FOMC, financial market response

Voting Right Rotation, Behavior of Committee Members and Financial Market Reactions: Evidence from the U.S. Federal Open Market Committee

CEPR Discussion Paper No. DP16213
Number of pages: 55 Posted: 14 Jul 2021
Michael Ehrmann, Robin Tietz and Bauke Visser
European Central Bank (ECB), Cass Business School - Faculty of Finance and Erasmus University Rotterdam - Department of Economics
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Can More Public Information Raise Uncertainty? The International Evidence on Forward Guidance

ECB Working Paper No. 2263
Number of pages: 53 Posted: 17 Apr 2019
European Central Bank (ECB), Banque de France, European Central Bank (ECB) and European Central Bank (ECB) - Directorate General Research
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Citation 1

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central bank communication, heterogeneous beliefs, forward guidance, disagreement, macroeconomic news

Can More Public Information Raise Uncertainty? The International Evidence on Forward Guidance

CEPR Discussion Paper No. DP13977
Number of pages: 43 Posted: 07 Oct 2019
European Central Bank (ECB), HEC Paris, European Central Bank (ECB) and European Central Bank (ECB) - Directorate General Research
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Citation 7
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central bank communication, disagreement, forward guidance, heterogeneous beliefs, Macroeconomic news

57.

Consumer Attitudes and the Epidemiology of Inflation Expectations

CentER Discussion Paper Series No. 2014-029
Number of pages: 36 Posted: 24 Apr 2014
Michael Ehrmann, Damjan Pfajfar and Emiliano Santoro
European Central Bank (ECB), Board of Governors of the Federal Reserve System and Catholic University of the Sacred Heart of Milan - Department of Economics
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Citation 7

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Survey Infl‡ation Expectations; News on In‡flation; Information Stickiness; Consumer Attitudes.

58.

The Reception of Public Signals in Financial Markets – What if Central Bank Communication Becomes Stale?

National Bank of Poland Working Paper No. 66
Number of pages: 30 Posted: 24 Jan 2011
Michael Ehrmann and David Sondermann
European Central Bank (ECB) and European Central Bank (ECB)
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Citation 11

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public signals; inflation reports; monetary policy; interest rates; announcement effects; co-ordination of beliefs; Bank of England

59.

Macroprudential Policy and Central Bank Communication

CEPR Discussion Paper No. DP8094
Number of pages: 44 Posted: 29 Nov 2010
Benjamin Born, Michael Ehrmann and Marcel Fratzscher
Frankfurt School of Finance & Management, European Central Bank (ECB) and DIW Berlin
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central bank, communication, economic policy, financial stability, macroprudential

60.

Politics and Monetary Policy

CEPR Discussion Paper No. DP8143
Number of pages: 44 Posted: 06 Dec 2010
Michael Ehrmann and Marcel Fratzscher
European Central Bank (ECB) and DIW Berlin
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Citation 1
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delegation, European Central Bank, interest rates, monetary policy, time inconsistency

61.

Exploring Differences in Household Debt Across the United States and Euro Area Countries

CEPR Discussion Paper No. DP15368
Number of pages: 47 Posted: 03 Nov 2020
Adam Smith Business School, University of Glasgow, European Central Bank (ECB) and European Central Bank (ECB) - Directorate General Research
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counterfactual decompositions, debt burden, Household Debt, household finance

62.

Euro Area Government Bonds-Integration and Fragmentation During the Sovereign Debt Crisis

CEPR Discussion Paper No. DP10583
Number of pages: 37 Posted: 12 May 2015
Michael Ehrmann and Marcel Fratzscher
European Central Bank (ECB) and DIW Berlin
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Citation 10
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contagion, ECB, European crisis, fragmentation, high-frequency data, identification, integration, policy, sovereign debt

63.

Explaining European Union Citizens’ Trust in the European Central Bank in Normal and Crisis Times

The Scandinavian Journal of Economics, Vol. 115, Issue 3, pp. 781-807, 2013
Number of pages: 27 Posted: 20 Jun 2013
Michael Ehrmann, Michel Soudan and Livio Stracca
European Central Bank (ECB), European Central Bank (ECB) and European Central Bank (ECB)
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Citation 5

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Eurobarometer, European Central Bank, global financial crisis, public opinion, trust