- Are ECB’s Greek bond purchases really irrelevant for the private sector?
- Is Greg getting bailed out by his rich uncle?
- Taylor legislation? Rules versus discretion misunderstood
- Partisanship and dismal economics blogging
- Chris Auld’s 18 signs
- The case for negative nominal interest rates and how to attain them: Revisiting the Buiter-Eisler approach
- No Negative Rates in Euroland (yet)
- Reinhart and Rogoff’s coding mistake: Much Ado About Nothing
What is going on here?American Economic Review Ben Bernanke Central bank governance Central bank independence central banks Christopher A. Sims debt crisis debt rating Economic schools economists' joke Euro European Central Bank European Union Federal funds rate Federal Open Market Commitee Federal Reserve Financial crisis Fiscal multiplier Fiscal stimulus forecasting Gavin Davies Government bonds inflation Inflation targeting interest rate Jean Claude Trichet John B. Taylor John Cochrane John Maynard Keynes Lars Svensson Mario Draghi Michael Woodford Milton Friedman N. Gregory Mankiw New-Keynesian models Nobel Prize Paul Krugman policy rules Public debt Quantitative easing Ramsey model Ricardian Equivalence Securities Markets Programme seigniorage Standard & Poor's Taylor rule Thomas J. Sargent Treaty on European Union Unconventional monetary policy United States
Other economics/ economists' blogs:(Needless to say, I do not necessarily agree with them or endorse them.)
Tag Archives: Spurious correlation
The Fed and the ECB: “Spurious Bedfellows”
Some days ago, I wrote about an interesting post by Gavin Davies on his Financial Times blog, where he argued that European monetary policy, through the actions of the German Bundesbank and now the European Central Bank, follows the US Federal Reserve’s interest rate decisions with some delay. An observation leading him to label the FED and ECB “strange bedfellows”. The data behind the argument is seen in the following figure: The Federal Reserve’s policy intentions are throughout the period measured by the target value for the Federal Funds Rate (formally, this time series is discontinued as of December 2008, and I show the upper value of the 0-0.25% target … Continue reading
Posted in Economists, Macroeconomics, Monetary policy Tagged European Central Bank, Federal Reserve, Gavin Davies, German Bundesbank, Olumuyiwa Awe, Spurious correlation Comments Off on The Fed and the ECB: “Spurious Bedfellows”