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

56

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825

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1,979

Scholarly Papers (56)

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 1,954 (8,571)
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 314 (107,304)
Citation 168

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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 14 (642,065)

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monetary policy transmission, financial structure, bank lending

2.
Downloads 1,384 ( 15,137)
Citation 26

Global Crises and Equity Market Contagion

Number of pages: 56 Posted: 03 Jun 2011 Last Revised: 26 Jul 2012
Columbia Business School - Finance and Economics, European Central Bank (ECB), DIW Berlin and European Central Bank (ECB)
Downloads 1,165 (19,311)
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

ECB Working Paper No. 1381
Number of pages: 48 Posted: 13 Sep 2011
Columbia Business School - Finance and Economics, European Central Bank (ECB), DIW Berlin and European Central Bank (ECB)
Downloads 85 (329,630)

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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 Business School - Finance and Economics, European Central Bank (ECB), DIW Berlin and European Central Bank (ECB)
Downloads 67 (378,742)
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 Business School - Finance and Economics, European Central Bank (ECB), DIW Berlin and European Central Bank (ECB)
Downloads 39 (485,055)
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
Columbia Business School - Finance and Economics, European Central Bank (ECB), DIW Berlin and European Central Bank (ECB)
Downloads 23 (576,640)
Citation 5

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Global Crises and Equity Market Contagion

CEPR Discussion Paper No. DP8438
Number of pages: 44 Posted: 16 Jun 2011
Columbia Business School - Finance and Economics, European Central Bank (ECB), DIW Berlin and European Central Bank (ECB)
Downloads 5 (712,897)
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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 1,014 (24,176)
Citation 10

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

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 385 (84,928)

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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 39 (485,055)
Citation 5

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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 33 (515,022)
Citation 2

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

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 Business and De Nederlandsche Bank
Downloads 261 (130,638)
Citation 52

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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: 28 Jul 2010
Princeton University - Department of Economics, European Central Bank (ECB), DIW Berlin, University of Groningen - Faculty of Economics and Business and De Nederlandsche Bank
Downloads 190 (177,749)

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6.

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 434 (74,459)
Citation 21

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vector autoregression, regime switching, shocks, new economy

7.

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 424 (76,565)
Citation 8

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Monetary policy transmission; euro; bank and financial integration

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 326 (102,928)

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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: 07 Jul 2010
Michael Ehrmann, Roberto Rigobon and Marcel Fratzscher
European Central Bank (ECB), Massachusetts Institute of Technology (MIT) - Sloan School of Management and DIW Berlin
Downloads 49 (441,732)
Citation 15

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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 329 (102,483)

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Price setting, inflation persistence, monetary policy, EMU

10.

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 267 (128,224)
Citation 35

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

11.

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 252 (136,088)
Citation 3

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currency union, inflation differentials, inflation persistence, euro area

12.

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 243 (141,059)
Citation 1

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

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) - Directorate General Research, CEPR, European Central Bank (ECB), European Central Bank (ECB) and European Central Bank (ECB) - Directorate General Research
Downloads 187 (180,333)

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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) - Directorate General Research, CEPR, European Central Bank (ECB), European Central Bank (ECB) and European Central Bank (ECB) - Directorate General Research
Downloads 38 (489,738)
Citation 19

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

14.
Downloads 222 (153,884)
Citation 48

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 218 (156,114)
Citation 22

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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 4 (721,281)
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15.

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 217 (157,178)
Citation 1

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

16.

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 214 (159,174)
Citation 1

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

17.

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 209 (162,736)
Citation 3

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transparency; monetary policy; announcements; communication; disclosure

18.

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 193 (175,359)
Citation 21

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

19.

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 177 (189,382)
Citation 3

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Predictability, central bank transparency, central bank communication

20.

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 167 (199,203)

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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 79 (344,777)
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 71 (366,778)
Citation 16

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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

Economic Journal, Vol. 115, No. 506, pp. 928-948, October 2005
Number of pages: 21 Posted: 06 Dec 2005
Michael Ehrmann and Marcel Fratzscher
European Central Bank (ECB) and DIW Berlin
Downloads 14 (642,065)
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22.
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Citation 36

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 gemeinnützige GmbH, European Central Bank (ECB) and DIW Berlin
Downloads 85 (329,630)

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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 gemeinnützige GmbH, European Central Bank (ECB) and DIW Berlin
Downloads 69 (372,625)
Citation 15

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central bank, financial stability, communication, event study

Central Bank Communication on Financial Stability

The Economic Journal, Vol. 124, Issue 577, pp. 701-734, 2014
Number of pages: 34 Posted: 17 Jun 2014
Benjamin Born, Michael Ehrmann and Marcel Fratzscher
Frankfurt School of Finance & Management gemeinnützige GmbH, European Central Bank (ECB) and DIW Berlin
Downloads 0
Citation 11
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23.
Downloads 151 (216,829)
Citation 15

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 149 (219,603)

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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 (741,801)
Citation 5
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communication, coverage, ECB, media, monetary policy, press

24.

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 144 (225,321)
Citation 1

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exchange rates, fundamentals, announcements, sovereign debt crisis

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 136 (236,542)

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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 7 (696,714)
Citation 1

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monetary policy, bank lending channel, interbank market

26.

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 141 (229,062)
Citation 1

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rational inattention, perceived inflation, euro cash changeover

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 87 (324,878)

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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 45 (458,230)
Citation 26

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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 (704,775)
Citation 5
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anchoring, bond markets, convergence, credibility, EMU, euro area, monetary policy

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 70 (369,672)

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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 61 (397,811)
Citation 1

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

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 Business and De Nederlandsche Bank
Downloads 62 (394,552)

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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 Business and De Nederlandsche Bank
Downloads 50 (437,766)

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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: 26 Oct 2016
Princeton University - Department of Economics, European Central Bank (ECB), University of Groningen - Faculty of Economics and Business and De Nederlandsche Bank
Downloads 16 (626,877)
Citation 12

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30.

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 122 (256,362)
Citation 4

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

31.

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 Business School - Finance and Economics, European Central Bank (ECB), DIW Berlin and European Central Bank (ECB)
Downloads 120 (259,519)
Citation 36

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

32.

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 111 (274,437)
Citation 8

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Consumer Attitudes, Inflation Expectations, News on Inflation

33.

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 106 (283,345)
Citation 2

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Communication, transparency, monetary policy, predictability

34.

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 101 (292,893)
Citation 1

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

35.

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 100 (294,866)
Citation 12

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communication, central bank, monetary policy, timing

36.

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 100 (294,866)
Citation 2

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Monetary policy rules; potential output; uncertainty

37.

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 97 (300,627)
Citation 3

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

38.

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 92 (311,105)
Citation 3

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

39.

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 92 (311,105)

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sovereign spreads, fiscal policy, time‐varying coefficients

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 85 (329,630)

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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 (712,897)
Citation 2
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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

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 89 (317,550)
Citation 5

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

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
Downloads 51 (433,892)
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
Downloads 37 (494,662)
Citation 3

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

43.

Does Inflation Targeting Increase Output Volatility? an International Comparison of Policymakers' Preferences and Outcomes

NBER Working Paper No. w7426
Number of pages: 37 Posted: 06 Feb 2000 Last Revised: 02 Apr 2001
Stephen G. Cecchetti and Michael Ehrmann
Brandeis International Business School and European Central Bank (ECB)
Downloads 81 (336,456)
Citation 1

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44.

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
Downloads 60 (395,608)
Citation 4

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

45.

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

46.

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 2

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

47.

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)
Downloads 49 (434,121)
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price-setting, inflation persistence, monetary policy, EMU

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
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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

49.

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)
Downloads 41 (466,186)
Citation 2

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

50.

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 5

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

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) - Directorate General Research 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) - Directorate General Research and European Central Bank (ECB) - Directorate General Research
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Citation 4
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central bank communication, disagreement, forward guidance, heterogeneous beliefs, Macroeconomic news

52.

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 10

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

53.

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 gemeinnützige GmbH, European Central Bank (ECB) and DIW Berlin
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Citation 1
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central bank, communication, economic policy, financial stability, macroprudential

54.

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

55.

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 7
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contagion, ECB, European crisis, fragmentation, high-frequency data, identification, integration, policy, sovereign debt

56.

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 3
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Eurobarometer, European Central Bank, global financial crisis, public opinion, trust