Similar Search Results

Macro wine in financial skins: The Oil-FX interdependence

Weber, Enzo - 2008

This paper analyses mutual causalities between crude oil price and euro / US dollar exchange rate. Instead of focusing …

Persistent link: https://www.econbiz.de/10010263739

The stochastic fluctuation of the quantile regression curve

Härdle, Wolfgang Karl; Song, Song - 2008

Let (X1, Y1), . . ., (Xn, Yn) be i.i.d. rvs and let l(x) be the unknown p-quantile regression curve of Y on X. A quantile-smoother ln(x) is a localised, nonlinear estimator of l(x). The strong uniform consistency rate is established under general conditions. In many applications it is necessary...

Persistent link: https://www.econbiz.de/10010274144

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

The euro and the transatlantic capital market leadership: A recursive cointegration analysis

Weber, Enzo - 2006

In this paper, the capital market relations between the Euro area and the USA are subject to investigation. Formally … based on the uncovered interest rate parity (UIP), first a longrun equilibrium between Euro and US government bond yields is …

Persistent link: https://www.econbiz.de/10010263647

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

Herwartz, Helmut; Weber, Henning - 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/10010331062

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

Real output of bank services: What counts is what banks do, not what they own

Inklaar, Robert; Wang, J. Christina - 2011

The measurement of bank output, a difficult and contentious issue, has become even more important in the aftermath of the devastating financial crisis of recent years. In this paper, we argue that models of banks as processors of information and transactions imply a quantity measure of bank...

Persistent link: https://www.econbiz.de/10010280912

Empirical estimates of changing inflation dynamics

Fuhrer, Jeff; Olivei, Giovanni; Tootell, Geoffrey M. B. - 2009

This paper provides an array of empirical evidence bearing on potentially important changes in the dynamics of U.S. inflation. We examine the overall performance of Phillips curves relative to some well-known benchmarks, the efficiency with which the Federal Reserve's Greenbook forecasts of...

Persistent link: https://www.econbiz.de/10010280920

Housing and debt over the life cycle and over the business cycle

Iacoviello, Matteo; Pavan, Marina - 2009

This paper describes an equilibrium life-cycle model of housing where nonconvex adjustment costs lead households to adjust their housing choice infrequently and by large amounts when they do so. In the cross-sectional dimension, the model matches the wealth distribution; the age profiles of...

Persistent link: https://www.econbiz.de/10010280939

Changes in the Federal Reserve's inflation target: Causes and consequences

Ireland, Peter N. - 2005

This paper estimates a New Keynesian model to draw inferences about the behavior of the Federal Reserve's unobserved inflation target. The results indicate that the target rose from 1-1/4 percent in 1959 to over 8 percent in the mid-to-late 1970s before falling back below 2-1/2 percent in 2004....

Persistent link: https://www.econbiz.de/10010280949