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Estimating the border effect: Some new evidence

Gopinath, Gita; Gourinchas, Pierre-Olivier; Hsieh, Chang-Tai - 2009

To what extent do national borders and national currencies impose costs that segment markets across countries? To answer this question the authors use a dataset with product-level retail prices and wholesale costs for a large grocery chain with stores in the United States and Canada. They...

Persistent link: https://www.econbiz.de/10010280948

Coping with People's Inflation Perceptions during a Currency Changeover

Eife, Thomas A.; Coombs, W. Timothy - 2007

The discrepancy between popular impressions of how the 2002 changeover to the euro affected prices and its actual …

Persistent link: https://www.econbiz.de/10011422163

Costly Inflation Misperceptions

Eife, Thomas A.; Meier, Stephan - 2007

One of the consequences of the euro changeover in 2002 was that for a period of several years people considerably … is, whether they induce people to alter their behaviour. We also discuss the question how far the euro changeover and the …

Persistent link: https://www.econbiz.de/10011422166

Do Menu Costs Make Prices Sticky?

Eife, Thomas A. - 2008

months around the changeover. Using data from the Euro-changeover, the paper estimates that menu costs can explain a …

Persistent link: https://www.econbiz.de/10011422183

Explaining the Persistent Effect of the Euro-Changeover on German Restaurant Prices

Eife, Thomas A. - 2011

increased significantly when the euro was introduced as a new currency but rather than returning to their re-changeover trend …

Persistent link: https://www.econbiz.de/10011422227

Uncertainty shocks in a model of effective demand

Basu, Susanto; Bundick, Brent - 2012

This paper examines the role of uncertainty shocks in a one-sector, representative-agent dynamic stochastic general equilibrium model. When prices are flexible, uncertainty shocks are not capable of producing business cycle comovements among key macro variables. With countercyclical markups...

Persistent link: https://www.econbiz.de/10010343352

Tomatoes or Tomato Pickers? - Free Trade and Migration in the NAFTA Case

del Río, Amaranta Melchor; Thorwarth, Susanne - 2006

This paper examines the relationship between trade liberalisation and migration in the case of Mexico. The increasing bilateral trade between Mexico and the United States after signing the North American Free Trade Agreement (NAFTA) was supposed to stem the illegal Mexican migration flow by...

Persistent link: https://www.econbiz.de/10011422132

Application of the Generalized Method of Moments for Estimating Continuous-Time Models of U.S. Short-Term Interest Rates

Cserna, Balázs - 2008

We show by Monte Carlo simulations that the jackknife estimation of QUENOUILLE (1956) provides substantial bias … reduction for the estimation of short-term interest rate models applied in CHAN ET AL. (1992) - hereafter CKLS (1992). We find … that an alternative estimation based on NOWMAN (1997) does not sufficiently solve the problem of time aggregation. We …

Persistent link: https://www.econbiz.de/10011422171

Modeling Volatility Spillovers between the Variabilities of US Inflation and Output: the UECCC GARCH Model

Conrad, Christian; Karanasos, Menelaos - 2008

This paper employs the unrestricted extended constant conditional correlation GARCH specification proposed in Conrad and Karanasos (2008) to examine the intertemporal relationship between the uncertainties of inflation and output growth in the US. We find that inflation uncertainty effects...

Persistent link: https://www.econbiz.de/10011422179

Explaining Inflation Persistence by a Time-Varying Taylor Rule

Conrad, Christian; Eife, Thomas A. - 2010

In a simple New Keynesian model, we derive a closed form solution for the inflation persistence parameter as a function of the policy weights in the central bank’s Taylor rule. By estimating the time-varying weights that the FED attaches to inflation and the output gap, we show that the...

Persistent link: https://www.econbiz.de/10011422213