Similar Search Results

Chinese monetary policy and the dollar peg

Reade, J. James; Volz, Ulrich - 2010

This paper investigates to what extent Chinese monetary policy is constrained by the dollar peg. To this end, we use a cointegration framework to examine whether Chinese interest rates are driven by the Fed's policy. In a second step, we estimate a monetary model for China, in which we include...

Persistent link: https://www.econbiz.de/10010303913

Zooming Out: The Trade Effect of the EURO in Historical Perspective

Berger, Helge; Nitsch, Volker - 2005

currencies and adopted a new common currency, the euro. Several recent papers argue that the introduction of the euro has led (by … put the trade effect of the euro in historical perspective. We argue that the creation of the EMU was a continuation (or … integration, the euro?s impact on trade disappears. Moreover, a significant part of the trend in European trade integration is …

Persistent link: https://www.econbiz.de/10010296364

When, how fast and by how much do trade costs change in the euro area?

Weber, Henning; Herwartz, Helmut - 2008

Microfoundations of the euro's effect on euro area trade hinge on the timing, the speed and the size of adjustment in … at the sector level. We find that, due to falling trade costs, trade within the euro area increases between the years … 2000 and 2003 by 10 to 20 percent compared with trade between European countries that are not members of the euro area …

Persistent link: https://www.econbiz.de/10010299149

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/10010300713

State visits and international trade

Nitsch, Volker - 2007

Politicians travel extensively abroad, for various reasons. One purpose of external visits is to improve bilateral economic relations. In this paper, I examine the effect of state visits on international trade. I use a large data set covering the travel activities of the heads of state of...

Persistent link: https://www.econbiz.de/10010299115

What´s the monetary value of distributive justice

Corneo, Giacomo; Fong, Christina M. - 2007

This paper proposes a model that can be implemented to estimate the willingness to pay for distributive justice, defined as distribution according to desert. We derive a formula that allows one to recover the willingness to pay for distributive justice from fiscal data and the estimated...

Persistent link: https://www.econbiz.de/10010299119

Does money still matter for U.S. output?

Berger, Helge; Österholm, Pär - 2008

In this note, we use multivariate models estimated with Bayesian techniques and an out-ofsample approach to investigate whether money growth Granger-causes output growth in the United States. We find surprisingly strong evidence for a money-output link over the 1960-2005 period. However, further...

Persistent link: https://www.econbiz.de/10010299137

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

Becker, Sascha; 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/10010300016

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/10010303907

Task dependence of U.S. service offshoring patterns

Püschel, Julia - 2012

respective service industry. The results from a zero-inflated Poisson pseudomaximum likelihood estimation indicate that the …

Persistent link: https://www.econbiz.de/10010309794