Details about Michael Ehrmann

Access statistics for papers by Michael Ehrmann.

Last updated 2019-06-04. Update your information in the RePEc Author Service.

Short-id: peh4

Working Papers

2019

1. Can more public information raise uncertainty? The international evidence on forward guidance
   Working Paper Series, European Central Bank

2017

2. Communication of monetary policy in unconventional times
   CFS Working Paper Series, Center for Financial Studies (CFS) View citations (11)
   Also in Working Paper Series, European Central Bank (2017) View citations (16)
3. Exploring Differences in Household Debt Across the United States and Euro Area Countries
   CSEF Working Papers, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy
4. Financial inclusion: what’s it worth?
   Working Paper Series, European Central Bank
   Also in Staff Working Papers, Bank of Canada (2016) View citations (3)
5. Necessity as the mother of invention: monetary policy after the crisis
   Working Paper Series, European Central Bank View citations (12)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2016) View citations (11)
   DNB Working Papers, Netherlands Central Bank, Research Department (2016) View citations (10)
   See also Journal Article in Economic Policy (2017)
6. Starting from a blank page? Semantic similarity in central bank communication and market volatility
   Working Paper Series, European Central Bank View citations (1)
   Also in Staff Working Papers, Bank of Canada (2016) View citations (4)

2015

7. Consumers' Attitudes and Their Inflation Expectations
   Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (US) View citations (1)
   See also Journal Article in International Journal of Central Banking (2017)
8. Euro Area Government Bonds: Integration and Fragmentation during the Sovereign Debt Crisis
   Discussion Papers of DIW Berlin, DIW Berlin, German Institute for Economic Research View citations (8)
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2015) View citations (8)
   Staff Working Papers, Bank of Canada (2015) View citations (8)
9. Exploring Differences in Household Debt Across Euro Area Countries and the United States
   Staff Working Papers, Bank of Canada View citations (13)

2014

10. Consumer Attitudes and the Epidemiology of Inflation Expectations
    Discussion Paper, Tilburg University, Center for Economic Research View citations (4)
    Also in Staff Working Papers, Bank of Canada (2014) View citations (4)
11. Household Risk Management and Actual Mortgage Choice in the Euro Area
    BCL working papers, Central Bank of Luxembourg View citations (18)
    Also in MEA discussion paper series, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy (2014) View citations (12)
    Staff Working Papers, Bank of Canada (2014) View citations (12)
    Working Paper Series, European Central Bank (2014) View citations (12)
12. It Hurts (Stock Prices) When Your Team Is About to Lose a Soccer Match
    Staff Working Papers, Bank of Canada
    Also in DNB Working Papers, Netherlands Central Bank, Research Department (2014)
    See also Journal Article in Review of Finance (2016)
13. Macroeconomic Experiences and Risk Taking of Euro Area Households
    Staff Working Papers, Bank of Canada View citations (7)
    Also in Working Paper Series, European Central Bank (2014) View citations (5)
    See also Journal Article in European Economic Review (2017)
14. Targeting Inflation from Below - How Do Inflation Expectations Behave?
    Staff Working Papers, Bank of Canada View citations (6)
    See also Journal Article in International Journal of Central Banking (2015)
15. The Global Crisis and Equity Market Contagion
    Discussion Papers of DIW Berlin, DIW Berlin, German Institute for Economic Research View citations (100)
    See also Journal Article in Journal of Finance (2014)

2013

16. The Euro exchange rate during the European sovereign debt crisis � dancing to its own tune?
    Bank of Estonia Working Papers, Bank of Estonia View citations (12)
17. The euro exchange rate during the European sovereign debt crisis - dancing to its own tune?
    Working Paper Series, European Central Bank View citations (9)
    See also Journal Article in Journal of International Money and Finance (2014)
18. The pricing of G7 sovereign bond spreads: the times, they are a-changin
    Working Paper Series, European Central Bank View citations (16)
    Also in MPRA Paper, University Library of Munich, Germany (2012) View citations (14)
    See also Journal Article in Journal of Banking & Finance (2014)

2012

19. Explaining EU Citizens' Trust in the ECB in Normal and Crisis Times
    Economics Series, Institute for Advanced Studies View citations (3)
    Also in Working Paper Series, European Central Bank (2012) View citations (5)
20. The pitch rather than the pit: investor inattention during FIFA World Cup matches
    DNB Working Papers, Netherlands Central Bank, Research Department View citations (8)
    Also in Working Paper Series, European Central Bank (2012) View citations (4)

2011

21. Central bank communication on financial stability
    NBP Working Papers, Narodowy Bank Polski, Economic Research Department View citations (19)
    Also in Working Paper Series, European Central Bank (2011) View citations (15)
    See also Journal Article in Economic Journal (2014)
22. Global Crises and Equity Market Contagion
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (109)
    Also in Working Paper Series, European Central Bank (2011) View citations (56)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2011) View citations (93)
23. Monetary Policy in the Media
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (24)
    Also in Working Paper Series, European Central Bank (2006) View citations (14)
    See also Journal Article in Journal of Money, Credit and Banking (2011)

2010

24. Macroprudential policy and central bank communication
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (7)
    See also Chapter (2011)
25. Politics and Monetary Policy
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (1)
    See also Journal Article in The Review of Economics and Statistics (2011)
26. The role of central bank transparency for guiding private sector forecasts
    Working Paper Series, European Central Bank View citations (7)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2009) View citations (2)
    See also Journal Article in Scandinavian Journal of Economics (2012)

2009

27. CONVERGENCE AND ANCHORING OF YIELD CURVES IN THE EURO AREA
    2009 Meeting Papers, Society for Economic Dynamics
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2007) View citations (29)
    Working Paper Series, European Central Bank (2007) View citations (18)
    Working Paper Series, Federal Reserve Bank of San Francisco (2007) View citations (11)
    See also Journal Article in The Review of Economics and Statistics (2011)
28. Memories of high inflation
    Working Paper Series, European Central Bank View citations (2)
    See also Journal Article in European Journal of Political Economy (2012)
29. Survey data on household finance and consumption: research summary and policy use
    Occasional Paper Series, European Central Bank
30. The reception of public signals in financial markets - what if central bank communication becomes stale?
    Working Paper Series, European Central Bank View citations (6)
    Also in NBP Working Papers, Narodowy Bank Polski, Economic Research Department (2009) View citations (4)

2008

31. Central Bank Communication and Monetary Policy: A Survey of Theory and Evidence
    Working Papers, Princeton University, Department of Economics, Center for Economic Policy Studies. View citations (280)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2008) View citations (458)
    DNB Working Papers, Netherlands Central Bank, Research Department (2008) View citations (455)
    Working Paper Series, European Central Bank (2008) View citations (513)
    See also Journal Article in Journal of Economic Literature (2008)
32. Geography or skills: what explains Fed Wachters' forecast accuracy of US monetary policy?
    Discussion Papers, Free University Berlin, School of Business & Economics
    Also in Working Paper Series, European Central Bank (2006) View citations (3)
33. Purdah: on the rationale for central bank silence around policy meetings
    Working Paper Series, European Central Bank View citations (11)
    See also Journal Article in Journal of Money, Credit and Banking (2009)
34. The predictability of monetary policy
    Occasional Paper Series, European Central Bank View citations (21)

2007

35. Explaining monetary policy in press conferences
    Working Paper Series, European Central Bank View citations (11)
    See also Journal Article in International Journal of Central Banking (2009)
36. Social value of public information: testing the limits to transparency
    Working Paper Series, European Central Bank View citations (18)

2006

37. Forecasting ECB Monetary Policy; Accuracy is (Still) a Matter of Geography
    IMF Working Papers, International Monetary Fund View citations (10)
    Also in Discussion Papers, Free University Berlin, School of Business & Economics (2006) View citations (8)
    Working Paper Series, European Central Bank (2006) View citations (23)
38. Global Financial Transmission of Monetary Policy Shocks
    CESifo Working Paper Series, CESifo Group Munich View citations (31)
    Also in Working Paper Series, European Central Bank (2006) View citations (34)
    See also Journal Article in Oxford Bulletin of Economics and Statistics (2009)
39. Inflation persistence and price-setting behaviour in the euro area: a summary of the IPN evidence
    Occasional Paper Series, European Central Bank View citations (59)
40. Inflation persistence and price-setting behaviour in the euro area: a summary of the Inflation Persistence Network evidence
    Working Paper Research, National Bank of Belgium View citations (36)
41. Rational inattention, inflation developments and perceptions after the euro cash changeover
    Working Paper Series, European Central Bank View citations (25)

2005

42. Communication and decision-making by central bank committees: different strategies, same effectiveness?
    Working Paper Series, European Central Bank View citations (42)
43. How should central banks communicate?
    Working Paper Series, European Central Bank View citations (28)
44. New Evidence on Inflation Persistence and Price Stickiness in the Euro Area: Implications for Macro Modelling
    Working Papers, Barcelona Graduate School of Economics View citations (5)
    Also in Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra (2005) View citations (39)
    See also Journal Article in Journal of the European Economic Association (2006)
45. Stocks, Bonds, Money Markets and Exchange Rates: Measuring International Financial Transmission
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (58)
    Also in Working Paper Series, European Central Bank (2005) View citations (88)
    See also Journal Article in Journal of Applied Econometrics (2011)
46. The timing of central bank communication
    Working Paper Series, European Central Bank View citations (5)
    See also Journal Article in European Journal of Political Economy (2007)
47. Transparency, disclosure and the federal reserve
    Working Paper Series, European Central Bank View citations (16)
    See also Journal Article in International Journal of Central Banking (2007)

2004

48. Equal size, equal role? Interdependence between the euro area and the United States
    Working Paper Series, European Central Bank View citations (10)
49. Equal size, equal role? interest rate interdependence between the euro area and the United States
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) View citations (9)
    Also in CFS Working Paper Series, Center for Financial Studies (CFS) (2003) View citations (1)
    See also Journal Article in Economic Journal (2005)
50. Euro area inflation differentials
    Working Paper Series, European Central Bank View citations (74)
    See also Journal Article in The B.E. Journal of Macroeconomics (2007)
51. Exchange rates and fundamentals: new evidence from real-time data
    Working Paper Series, European Central Bank View citations (15)
    See also Journal Article in Journal of International Money and Finance (2005)
52. Firm Size and Monetary Policy Transmission – Evidence from German Business Survey Data
    CESifo Working Paper Series, CESifo Group Munich View citations (7)
    Also in Working Paper Series, European Central Bank (2000) View citations (18)
    Economics Working Papers, European University Institute (2000) View citations (7)
53. Taking stock: monetary policy transmission to equity markets
    Working Paper Series, European Central Bank View citations (159)

2003

54. Monetary policy transmission in the euro area: New evidence from micro data on firms and banks
    Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers), HAL View citations (32)
    See also Journal Article in Journal of the European Economic Association (2003)
55. Monetary policy transmission in the euro area: any changes after EMU?
    Working Paper Series, European Central Bank View citations (142)

2002

56. Financial Systems and the Role of Banks in Monetary Policy Transmission in the Euro Area.Author-Name: Ehrmann, M
    Working papers, Banque de France View citations (11)
57. Interdependence between the euro area and the US: what role for EMU?
    Working Paper Series, European Central Bank View citations (34)
    See also Journal Article in Proceedings (2003)

2001

58. Financial Systems and the Role of Banks in Monetary Policy Transmission in the Euro Area
    Working Papers, Banco de España View citations (97)
    Also in Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area (2001) View citations (28)
    Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank (2001) View citations (103)
    Working Paper Series, European Central Bank (2001) View citations (88)
59. Interbank Lending and Monetary Policy Transmission: Evidence for Germany
    Working Papers, Quebec a Montreal - Recherche en gestion View citations (17)
    Also in Working Paper Series, European Central Bank (2001) View citations (5)
    Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank (2001) View citations (26)
60. Regime-dependent impulse response functions in a Markov-switching vector autoregression model
    Research Discussion Papers, Bank of Finland View citations (12)
    See also Journal Article in Economics Letters (2003)
61. Uncertain Potential Output: Implications for Monetary Policy
    Computing in Economics and Finance 2001, Society for Computational Economics View citations (20)
    Also in Working Paper Series, European Central Bank (2001) View citations (23)
    Working Papers, Quebec a Montreal - Recherche en gestion (2001) View citations (41)
    See also Journal Article in Journal of Economic Dynamics and Control (2003)

2000

62. Does Inflation Targeting Increase Output volatility? An International Comparison of Policy Maker's Preferences and Outcomes
    Working Papers Central Bank of Chile, Central Bank of Chile View citations (10)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1999) View citations (130)
    See also Chapter (2002)
63. The Exchange Rate - A Shock-Absorber or Source of Shocks? A Study of Four Open Economies
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (16)
    Also in EUI-RSCAS Working Papers, European University Institute (EUI), Robert Schuman Centre of Advanced Studies (RSCAS) (2000) View citations (27)
    See also Journal Article in Journal of International Money and Finance (2006)

Journal Articles

2018

1. Measures of underlying inflation for the euro area
   Economic Bulletin Articles, 2018, 4

2017

2. Consumers' Attitudes and Their Inflation Expectations
   International Journal of Central Banking, 2017, 13, (1), 225-259 View citations (8)
   See also Working Paper (2015)
3. Euro area government bonds – Fragmentation and contagion during the sovereign debt crisis
   Journal of International Money and Finance, 2017, 70, (C), 26-44 View citations (21)
4. Macroeconomic experiences and risk taking of euro area households
   European Economic Review, 2017, 91, (C), 146-156
   See also Working Paper (2014)
5. Monetary Policy after the Crisis
   ifo DICE Report, 2017, 15, (1), 12-13
6. Mortgage Choice in the Euro Area: Macroeconomic Determinants and the Effect of Monetary Policy on Debt Burdens
   Journal of Money, Credit and Banking, 2017, 49, (2-3), 469-494 View citations (3)
7. Necessity as the mother of invention: monetary policy after the crisis
   Economic Policy, 2017, 32, (92), 707-755 View citations (9)
   See also Working Paper (2017)
8. The Pitch Rather Than the Pit: Investor Inattention, Trading Activity, and FIFA World Cup Matches
   Journal of Money, Credit and Banking, 2017, 49, (4), 807-821 View citations (2)
9. What will monetary policy look like after the crisis?
   Research Bulletin, 2017, 39

2016

10. It Hurts (Stock Prices) When Your Team is about to Lose a Soccer Match
    Review of Finance, 2016, 20, (3), 1215-1233 View citations (2)
    See also Working Paper (2014)

2015

11. Targeting Inflation from Below: How Do Inflation Expectations Behave?
    International Journal of Central Banking, 2015, 11, (4), 213-249 View citations (39)
    See also Working Paper (2014)

2014

12. Central Bank Communication on Financial Stability
    Economic Journal, 2014, 124, (577), 701-734 View citations (20)
    See also Working Paper (2011)
13. The Global Crisis and Equity Market Contagion
    Journal of Finance, 2014, 69, (6), 2597-2649 View citations (98)
    See also Working Paper (2014)
14. The euro exchange rate during the European sovereign debt crisis – Dancing to its own tune?
    Journal of International Money and Finance, 2014, 49, (PB), 319-339 View citations (15)
    See also Working Paper (2013)
15. The pricing of G7 sovereign bond spreads – The times, they are a-changin
    Journal of Banking & Finance, 2014, 47, (C), 155-176 View citations (33)
    See also Working Paper (2013)

2013

16. Dispersed communication by central bank committees and the predictability of monetary policy decisions
    Public Choice, 2013, 157, (1), 223-244 View citations (8)
17. Explaining European Union Citizens’ Trust in the European Central Bank in Normal and Crisis Times
    Scandinavian Journal of Economics, 2013, 115, (3), 781-807 View citations (22)

2012

18. Communicating About Macro-prudential Supervision – A New Challenge for Central Banks
    International Finance, 2012, 15, (2), 179-203 View citations (8)
19. Memories of high inflation
    European Journal of Political Economy, 2012, 28, (2), 174-191 View citations (29)
    See also Working Paper (2009)
20. The News Content of Macroeconomic Announcements: What if Central Bank Communication Becomes Stale?
    International Journal of Central Banking, 2012, 8, (3), 1-53 View citations (15)
21. The Role of Central Bank Transparency for Guiding Private Sector Forecasts
    Scandinavian Journal of Economics, 2012, 114, (3), 1018-1052 View citations (57)
    See also Working Paper (2010)

2011

22. Convergence and Anchoring of Yield Curves in the Euro Area
    The Review of Economics and Statistics, 2011, 93, (1), 350-364 View citations (50)
    See also Working Paper (2009)
23. Geography, skills or both: What explains Fed watchers' forecast accuracy of US monetary policy?
    Journal of Macroeconomics, 2011, 33, (3), 420-437 View citations (3)
24. Inflation Developments and Perceptions after the Euro Cash Changeover
    German Economic Review, 2011, 12, (1), 33-58 View citations (25)
25. Monetary Policy in the Media
    Journal of Money, Credit and Banking, 2011, 43, (4), 689-709 View citations (27)
    See also Working Paper (2011)
26. Politics and Monetary Policy
    The Review of Economics and Statistics, 2011, 93, (3), 941-960 View citations (15)
    See also Working Paper (2010)
27. Stocks, bonds, money markets and exchange rates: measuring international financial transmission
    Journal of Applied Econometrics, 2011, 26, (6), 948-974 View citations (121)
    See also Working Paper (2005)

2009

28. Explaining Monetary Policy in Press Conferences
    International Journal of Central Banking, 2009, 5, (2), 42-84 View citations (34)
    See also Working Paper (2007)
29. Forecasting ECB monetary policy: Accuracy is a matter of geography
    European Economic Review, 2009, 53, (8), 1028-1041 View citations (19)
30. Global Financial Transmission of Monetary Policy Shocks
    Oxford Bulletin of Economics and Statistics, 2009, 71, (6), 739-759 View citations (58)
    See also Working Paper (2006)
31. Purdah-On the Rationale for Central Bank Silence around Policy Meetings
    Journal of Money, Credit and Banking, 2009, 41, (2-3), 517-528 View citations (24)
    See also Working Paper (2008)

2008

32. Central Bank Communication and Monetary Policy: A Survey of Theory and Evidence
    Journal of Economic Literature, 2008, 46, (4), 910-45 View citations (523)
    See also Working Paper (2008)

2007

33. Communication by Central Bank Committee Members: Different Strategies, Same Effectiveness?
    Journal of Money, Credit and Banking, 2007, 39, (2-3), 509-541 View citations (143)
34. Euro Area Inflation Differentials
    The B.E. Journal of Macroeconomics, 2007, 7, (1), 1-36 View citations (81)
    See also Working Paper (2004)
35. The timing of central bank communication
    European Journal of Political Economy, 2007, 23, (1), 124-145 View citations (37)
    See also Working Paper (2005)
36. Transparency, Disclosure, and the Federal Reserve
    International Journal of Central Banking, 2007, 3, (1), 179-225 View citations (28)
    See also Working Paper (2005)

2006

37. Central bank communication
    Research Bulletin, 2006, 5, 2-5 View citations (2)
38. New Evidence on Inflation Persistence and Price Stickiness in the Euro Area: Implications for Macro Modeling
    Journal of the European Economic Association, 2006, 4, (2-3), 562-574 View citations (89)
    See also Working Paper (2005)
39. The exchange rate - A shock-absorber or source of shocks? A study of four open economies
    Journal of International Money and Finance, 2006, 25, (6), 874-893 View citations (34)
    See also Working Paper (2000)

2005

40. Equal Size, Equal Role? Interest Rate Interdependence Between the Euro Area and the United States
    Economic Journal, 2005, 115, (506), 928-948 View citations (116)
    See also Working Paper (2004)
41. Exchange rates and fundamentals: new evidence from real-time data
    Journal of International Money and Finance, 2005, 24, (2), 317-341 View citations (71)
    See also Working Paper (2004)

2004

42. Bank Networks and Monetary Policy Transmission
    Journal of the European Economic Association, 2004, 2, (6), 1148-1171 View citations (53)
43. Monetary transmission in diverse economies, Lavan Mahadeva and Peter Sinclair (eds.), Cambridge University Press, Cambridge, 2002
    International Journal of Finance & Economics, 2004, 9, (1), 81-82

2003

44. Interdependence between the Euro area and the U.S.: what role for EMU?
    Proceedings, 2003 View citations (8)
    See also Working Paper (2002)
45. Monetary Policy Announcements and Money Markets: A Transatlantic Perspective
    International Finance, 2003, 6, (3), 309-28 View citations (48)
46. Monetary Policy Transmission in the Euro Area: New Evidence From Micro Data on Firms and Banks
    Journal of the European Economic Association, 2003, 1, (2-3), 731-742 View citations (42)
    See also Working Paper (2003)
47. Monetary transmission in the euro area: early evidence
    Economic Policy, 2003, 18, (37), 469-501 View citations (54)
48. Regime-dependent impulse response functions in a Markov-switching vector autoregression model
    Economics Letters, 2003, 78, (3), 295-299 View citations (110)
    See also Working Paper (2001)
49. The Effects of Monetary Policy in the Euro Area
    Oxford Review of Economic Policy, 2003, 19, (1), 58-72 View citations (50)
50. Uncertain potential output: implications for monetary policy
    Journal of Economic Dynamics and Control, 2003, 27, (9), 1611-1638 View citations (86)
    See also Working Paper (2001)

2000

51. Comparing monetary policy transmission across European countries
    Review of World Economics (Weltwirtschaftliches Archiv), 2000, 136, (1), 58-83 View citations (61)

Chapters

2011

1. How Should Central Banks Deal with a Financial Stability Objective? The Evolving Role of Communication as a Policy Instrument
   Chapter 9 in Handbook of Central Banking, Financial Regulation and Supervision, 2011 View citations (1)
2. Macroprudential policy and central bank communication
   A chapter in Macroprudential regulation and policy, 2011, vol. 60, pp 107-110
   See also Working Paper (2010)

2006

3. The Euro and the Transmission of Monetary Policy
   Chapter 7 in Long-run Growth and Short-run Stabilization, 2006 View citations (4)

2002

4. Does Inflation Targeting Increase Output Volatility?: An International Comparison of Policymakers' Preferences and Outcomes
   Chapter 9 in Monetary Policy: Rules and Transmission Mechanisms, 2002, vol. 4, pp 247-274 View citations (15)
   See also Working Paper (2000)

Software Items