Similar Search Results

Monetary transmission right from the start : the (dis)connection netween the money market and the ECB’s main refinancing rates

Abbassi, Puriya; Nautz, Dieter - 2010

process in the euro area. This paper investigates how money market rates respond to the new information revealed by MRO …

Persistent link: https://www.econbiz.de/10003962841

The (in)stability of money demand in the Euro area

Nautz, Dieter; Rondorf, Ulrike - 2010

instability of euro area money demand. Our results obtained from panel estimation indicate that the observed instability of … analysis in the euro area. This paper uses country-specific monetary aggregates to shed more light on the economics behind the … ; euro area …

Persistent link: https://www.econbiz.de/10008664568

Inflation, price dispersion and market integration through the lens of a monetary search model

Becker, Sascha O.; Nautz, Dieter - 2010

Recent monetary search models emphasize that the real effects of inflation via its impact on price dispersion depend on the level of search costs and, thus, on the level of market integration. For less integrated markets, the inflation-price dispersion nexus is predicted to be asymmetrically...

Persistent link: https://www.econbiz.de/10003952539

Central bank communication and the perception of monetary policy by financial market experts

Schmidt, Sandra; Nautz, Dieter - 2010

This paper investigates why financial market experts misperceive the interest rate policy of the European Central Bank (ECB). Assuming a Taylor-rule-type reaction function of the ECB, we use qualitative survey data on expectations about the future interest rate, inflation, and output to discover...

Persistent link: https://www.econbiz.de/10008796249

Inflation and growth : new evidence from a dynamic panel threshold analysis

Kremer, Stephanie; Bick, Alexander; Nautz, Dieter - 2009

We introduce a dynamic panel threshold model to shed new light on the impact of inflation on long-term economic growth. The empirical analysis is based on a large panel-data set including 124 countries during the period from 1950 to 2004. For industrialized countries, our results confirm the...

Persistent link: https://www.econbiz.de/10003876000

A note on testing the monetary model of the exchange rate

Moersch, Mathias; Nautz, Dieter - In: Applied financial economics 11 (2001) 3, pp. 261-268

Persistent link: https://www.econbiz.de/10001688784

The dynamic impact of macroeconomic news on long-term inflation expectations

Hachula, Michael; Nautz, Dieter - 2017

Well-anchored inflation expectations should not react to short-term oriented macroeconomic news. This paper analyzes the dynamic response of inflation expectations to macro news shocks in a structural VAR model. As identification of structural macro news shocks is controversial, we use a proxy...

Persistent link: https://www.econbiz.de/10011647611

Divisia monetary aggregates for a heterogeneous euro area

Brill, Maximilian; Nautz, Dieter; Sieckmann, Lea - 2019 - This version: June 25, 2019

We introduce a Divisia monetary aggregate for the euro area that accounts for the heterogeneity across member countries … both, in terms of interest rates and the decomposition of monetary assets. In most of the euro area countries, the … the simple sum aggregate has a significant predictive content for recessions in euro area countries. …

Persistent link: https://www.econbiz.de/10012023395

The information content of inflation swap rates for the long-term inflation expectations of professionals : evidence from a MIDAS analysis

Hanoma, Ahmed Ragab Elsaid Abdelhamid; Nautz, Dieter - 2018

Long-term inflation expectations taken from the Survey of Professional Forecasters are a major source of information for monetary policy. Unfortunately, they are published only on a quarterly basis. This paper investigates the daily information content of inflation-linked swap rates for the next...

Persistent link: https://www.econbiz.de/10011922197