Details about Michael Ehrmann

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Workplace:	European Central Bank, (more information at EDIRC)

Access statistics for papers by Michael Ehrmann.

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Short-id: peh4

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Working Papers

2010

Macroprudential policy and central bank communication
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (11)
See also Chapter (2011)
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)
The Role of Central Bank Transparency for Guiding Private Sector Forecasts
Other publications TiSEM, Tilburg University, School of Economics and Management
Also in Working Paper Series, European Central Bank (2010) View citations (8)
CEPR Discussion Papers, C.E.P.R. Discussion Papers (2009) View citations (2)
See also Journal Article in Scandinavian Journal of Economics (2012)

2009

CONVERGENCE AND ANCHORING OF YIELD CURVES IN THE EURO AREA
2009 Meeting Papers, Society for Economic Dynamics
Also in Working Paper Series, Federal Reserve Bank of San Francisco (2007) View citations (11)
Working Paper Series, European Central Bank (2007) View citations (18)
CEPR Discussion Papers, C.E.P.R. Discussion Papers (2007) View citations (29)
See also Journal Article in The Review of Economics and Statistics (2011)
Memories of high inflation
Working Paper Series, European Central Bank View citations (2)
See also Journal Article in European Journal of Political Economy (2012)
Survey data on household finance and consumption: research summary and policy use
Occasional Paper Series, European Central Bank
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

Central Bank Communication and Monetary Policy: A Survey of Theory and Evidence
NBER Working Papers, National Bureau of Economic Research, Inc View citations (570)
Also in Working Papers, Princeton University, Department of Economics, Center for Economic Policy Studies. (2008) View citations (392)
DNB Working Papers, Netherlands Central Bank, Research Department (2008) View citations (567)
Working Paper Series, European Central Bank (2008) View citations (629)
See also Journal Article in Journal of Economic Literature (2008)
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)
Purdah: on the rationale for central bank silence around policy meetings
Working Paper Series, European Central Bank View citations (13)
See also Journal Article in Journal of Money, Credit and Banking (2009)
The predictability of monetary policy
Occasional Paper Series, European Central Bank View citations (21)

2007

Explaining monetary policy in press conferences
Working Paper Series, European Central Bank View citations (12)
See also Journal Article in International Journal of Central Banking (2009)
Social value of public information: testing the limits to transparency
Working Paper Series, European Central Bank View citations (18)

2006

Forecasting ECB Monetary Policy; Accuracy is (Still) a Matter of Geography
IMF Working Papers, International Monetary Fund
Also in Working Paper Series, European Central Bank (2006) View citations (24)
Discussion Papers, Free University Berlin, School of Business & Economics (2006) View citations (9)
Global Financial Transmission of Monetary Policy Shocks
CESifo Working Paper Series, CESifo View citations (32)
Also in Working Paper Series, European Central Bank (2006) View citations (35)
See also Journal Article in Oxford Bulletin of Economics and Statistics (2009)
Inflation persistence and price-setting behaviour in the euro area: a summary of the IPN evidence
Occasional Paper Series, European Central Bank View citations (60)
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 (37)
Rational inattention, inflation developments and perceptions after the euro cash changeover
Working Paper Series, European Central Bank View citations (25)

2005

Communication and decision-making by central bank committees: different strategies, same effectiveness?
Working Paper Series, European Central Bank View citations (44)
How should central banks communicate?
Working Paper Series, European Central Bank View citations (31)
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)
Stocks, Bonds, Money Markets and Exchange Rates: Measuring International Financial Transmission
NBER Working Papers, National Bureau of Economic Research, Inc View citations (61)
Also in Working Paper Series, European Central Bank (2005) View citations (91)
See also Journal Article in Journal of Applied Econometrics (2011)
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)
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

Equal size, equal role? Interdependence between the euro area and the United States
Working Paper Series, European Central Bank View citations (10)
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 (10)
Also in CFS Working Paper Series, Center for Financial Studies (CFS) (2003) View citations (1)
See also Journal Article in Economic Journal (2005)
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)
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)
Firm Size and Monetary Policy Transmission – Evidence from German Business Survey Data
CESifo Working Paper Series, CESifo View citations (7)
Also in Working Paper Series, European Central Bank (2000) View citations (29)
Economics Working Papers, European University Institute (2000) View citations (7)
Taking stock: monetary policy transmission to equity markets
Working Paper Series, European Central Bank View citations (180)

2003

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 (34)
Also in Post-Print, HAL (2003) View citations (22)
See also Journal Article in Journal of the European Economic Association (2003)
Monetary policy transmission in the euro area: any changes after EMU?
Working Paper Series, European Central Bank View citations (147)

2002

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 (12)
Interdependence between the euro area and the US: what role for EMU?
Working Paper Series, European Central Bank View citations (58)
See also Journal Article in Proceedings (2003)

2001

Financial Systems and the Role of Banks in Monetary Policy Transmission in the Euro Area
Working Papers, Banco de España View citations (104)
Also in Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area (2001) View citations (32)
Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank (2001) View citations (110)
Working Paper Series, European Central Bank (2001) View citations (158)
Interbank Lending and Monetary Policy Transmission: Evidence for Germany
Working Papers, Quebec a Montreal - Recherche en gestion View citations (19)
Also in Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank (2001) View citations (28)
Working Paper Series, European Central Bank (2001) View citations (25)
Regime-dependent impulse response functions in a Markov-switching vector autoregression model
Research Discussion Papers, Bank of Finland View citations (13)
See also Journal Article in Economics Letters (2003)
Uncertain Potential Output: Implications for Monetary Policy
Computing in Economics and Finance 2001, Society for Computational Economics View citations (20)
Also in Working Papers, Quebec a Montreal - Recherche en gestion (2001) View citations (41)
Working Paper Series, European Central Bank (2001) View citations (24)
See also Journal Article in Journal of Economic Dynamics and Control (2003)

2000

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 (131)
See also Chapter (2002)
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

2020

Starting from a blank page? Semantic similarity in central bank communication and market volatility
Journal of Monetary Economics, 2020, 111, (C), 48-62
See also Working Paper (2017)
The European Systemic Risk Board – governance and early experience
Journal of Economic Policy Reform, 2020, 23, (3), 290-308

2019

Can more public information raise uncertainty? The international evidence on forward guidance
Journal of Monetary Economics, 2019, 108, (C), 93-112 View citations (6)
See also Working Paper (2019)
How to signal the future path of interest rates? The international evidence on forward guidance
Research Bulletin, 2019, 61

2018

Measures of underlying inflation for the euro area
Economic Bulletin Articles, 2018, 4 View citations (3)

2017

Consumers' Attitudes and Their Inflation Expectations
International Journal of Central Banking, 2017, 13, (1), 225-259 View citations (21)
See also Working Paper (2015)
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 (37)
Macroeconomic experiences and risk taking of euro area households
European Economic Review, 2017, 91, (C), 146-156 View citations (7)
See also Working Paper (2014)
Monetary Policy after the Crisis
ifo DICE Report, 2017, 15, (01), 12-13
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 (6)
Necessity as the mother of invention: monetary policy after the crisis
Economic Policy, 2017, 32, (92), 707-755 View citations (38)
See also Working Paper (2017)
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 (3)
What will monetary policy look like after the crisis?
Research Bulletin, 2017, 39

2016

It Hurts (Stock Prices) When Your Team is about to Lose a Soccer Match
Review of Finance, 2016, 20, (3), 1215-1233 View citations (4)
See also Working Paper (2014)

2015

Targeting Inflation from Below: How Do Inflation Expectations Behave?
International Journal of Central Banking, 2015, 11, (4), 213-249 View citations (57)
See also Working Paper (2014)

2014

Central Bank Communication on Financial Stability
Economic Journal, 2014, 124, (577), 701-734 View citations (38)
See also Working Paper (2011)
The Global Crisis and Equity Market Contagion
Journal of Finance, 2014, 69, (6), 2597-2649 View citations (139)
See also Working Paper (2014)
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 (17)
See also Working Paper (2013)
The pricing of G7 sovereign bond spreads – The times, they are a-changin
Journal of Banking & Finance, 2014, 47, (C), 155-176 View citations (37)
See also Working Paper (2013)

2013

Dispersed communication by central bank committees and the predictability of monetary policy decisions
Public Choice, 2013, 157, (1), 223-244 View citations (11)
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 (31)

2012

Communicating About Macro-prudential Supervision – A New Challenge for Central Banks
International Finance, 2012, 15, (2), 179-203 View citations (11)
Memories of high inflation
European Journal of Political Economy, 2012, 28, (2), 174-191 View citations (38)
See also Working Paper (2009)
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 (17)
The Role of Central Bank Transparency for Guiding Private Sector Forecasts
Scandinavian Journal of Economics, 2012, 114, (3), 1018-1052 View citations (69)
See also Working Paper (2010)

2011

Convergence and Anchoring of Yield Curves in the Euro Area
The Review of Economics and Statistics, 2011, 93, (1), 350-364 View citations (58)
See also Working Paper (2009)
Geography, skills or both: What explains Fed watchers' forecast accuracy of US monetary policy?
Journal of Macroeconomics, 2011, 33, (3), 420-437 View citations (8)
Inflation Developments and Perceptions after the Euro Cash Changeover
German Economic Review, 2011, 12, (1), 33-58 View citations (21)
Monetary Policy in the Media
Journal of Money, Credit and Banking, 2011, 43, (4), 689-709
Also in Journal of Money, Credit and Banking, 2011, 43, (4), 689-709 (2011) View citations (37)
See also Working Paper (2011)
Politics and Monetary Policy
The Review of Economics and Statistics, 2011, 93, (3), 941-960 View citations (20)
See also Working Paper (2010)
Stocks, bonds, money markets and exchange rates: measuring international financial transmission
Journal of Applied Econometrics, 2011, 26, (6), 948-974 View citations (139)
See also Working Paper (2005)

2009

Explaining Monetary Policy in Press Conferences
International Journal of Central Banking, 2009, 5, (2), 42-84 View citations (48)
See also Working Paper (2007)
Forecasting ECB monetary policy: Accuracy is a matter of geography
European Economic Review, 2009, 53, (8), 1028-1041 View citations (25)
Global Financial Transmission of Monetary Policy Shocks*
Oxford Bulletin of Economics and Statistics, 2009, 71, (6), 739-759 View citations (72)
See also Working Paper (2006)
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 (32)
Also in Journal of Money, Credit and Banking, 2009, 41, (2‐3), 517-528 (2009)
See also Working Paper (2008)

2008

Central Bank Communication and Monetary Policy: A Survey of Theory and Evidence
Journal of Economic Literature, 2008, 46, (4), 910-45 View citations (638)
See also Working Paper (2008)

2007

Communication by Central Bank Committee Members: Different Strategies, Same Effectiveness?
Journal of Money, Credit and Banking, 2007, 39, (2-3), 509-541 View citations (180)
Also in Journal of Money, Credit and Banking, 2007, 39, (2‐3), 509-541 (2007) View citations (6)
Euro Area Inflation Differentials
The B.E. Journal of Macroeconomics, 2007, 7, (1), 1-36 View citations (87)
See also Working Paper (2004)
The timing of central bank communication
European Journal of Political Economy, 2007, 23, (1), 124-145 View citations (48)
See also Working Paper (2005)
Transparency, Disclosure, and the Federal Reserve
International Journal of Central Banking, 2007, 3, (1), 179-225 View citations (32)
See also Working Paper (2005)

2006

Central bank communication
Research Bulletin, 2006, 5, 2-5 View citations (2)
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 (100)
See also Working Paper (2005)
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 (37)
See also Working Paper (2000)

2005

Equal Size, Equal Role? Interest Rate Interdependence Between the Euro Area and the United States
Economic Journal, 2005, 115, (506), 928-948 View citations (123)
See also Working Paper (2004)
Exchange rates and fundamentals: new evidence from real-time data
Journal of International Money and Finance, 2005, 24, (2), 317-341 View citations (77)
See also Working Paper (2004)

2004

Bank Networks and Monetary Policy Transmission
Journal of the European Economic Association, 2004, 2, (6), 1148-1171 View citations (62)
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

Interdependence between the Euro area and the U.S.: what role for EMU?
Proceedings, 2003 View citations (8)
See also Working Paper (2002)
Monetary Policy Announcements and Money Markets: A Transatlantic Perspective
International Finance, 2003, 6, (3), 309-328
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 (44)
See also Working Paper (2003)
Monetary transmission in the euro area: early evidence
Economic Policy, 2003, 18, (37), 469-501 View citations (58)
Regime-dependent impulse response functions in a Markov-switching vector autoregression model
Economics Letters, 2003, 78, (3), 295-299 View citations (120)
See also Working Paper (2001)
The Effects of Monetary Policy in the Euro Area
Oxford Review of Economic Policy, 2003, 19, (1), 58-72 View citations (55)
Uncertain potential output: implications for monetary policy
Journal of Economic Dynamics and Control, 2003, 27, (9), 1611-1638 View citations (92)
See also Working Paper (2001)

2000

Comparing monetary policy transmission across European countries
Review of World Economics (Weltwirtschaftliches Archiv), 2000, 136, (1), 58-83 View citations (63)

Chapters

2011

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)
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

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

2002

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)