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Global Business Cycles : Convergence or Decoupling?

Kose, M. Ayhan - 2016

This paper analyzes the evolution of the degree of global cyclical interdependence over the period 1960-2005. We categorize the 106 countries in our sample into three groups: industrial countries, emerging markets, and other developing economies. Using a dynamic factor model, we then decompose...

Persistent link: https://www.econbiz.de/10012991111

Money-Based Interest Rate Rules : Lessons from German Data

Gerberding, Christina - 2016

The paper derives the monetary policy reaction function implied by money growth targeting. It consists of an interest rate response to deviations of the inflation rate from target, to the change in the output gap, to money demand shocks and to the lagged interest rate. In the second part, it is...

Persistent link: https://www.econbiz.de/10012991152

Foreign Demand for Euro Banknotes Issued in Germany : Estimation Using Direct Approaches

Bartzsch, Nikolaus - 2016

In this paper, we endeavour to determine the volume of euro banknotes issued by Germany that is in circulation outside … Germany. In so doing, we draw a distinction between banknotes outstanding in non-euro-area countries and those that are in … circulation in other euro-area countries. The analysis is based on various available statistics and, as an additional aid, on …

Persistent link: https://www.econbiz.de/10012991024

Foreign Demand for Euro Banknotes Issued in Germany : Estimation Using Indirect Approaches

Bartzsch, Nikolaus - 2016

In this paper, we endeavour to determine the volume of euro banknotes issued by Germany that is in circulation outside … Germany. In so doing, we draw a distinction between banknotes outstanding in non-euro-area countries and those that are in … circulation in other euro-area countries. The analysis is based on approaches that estimate the volume of banknotes in circulation …

Persistent link: https://www.econbiz.de/10012991027