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Credibility and transparency of Central Banks : new results based on Ifo s world economicy survey
Hamella, Sandra; Haan, Jakob de - 2004
history of honesty and a high level of central bank independence. According to our respondents, the Federal Reserve is the … most credible, transparent and independent central bank out of seven large central banks. The ECB is not perceived as …
Persistent link: https://www.econbiz.de/10011399168
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Optimal central bank design : benchmarks for the ECB
Berger, Helge (contributor) - 2006
The paper discusses key elements of optimal central bank design and applies its findings to the Eurosystem. A …
Persistent link: https://www.econbiz.de/10003301388
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The macroeconomic policy challenges of balance sheet recession : lessons from Japan for the European crisis
Schnabl, Gunther - 2013
The paper compares the boom-and-bust cycles in Japan and Europe with respect to the reasons for excessive booms, the … characteristics of the crises, and the (potential) effects of the crisis therapies. As in Japan the consequence of expansionary … well as gradual real income losses, the economic policy implication for Japan and Europe is the timely exit from the …
Persistent link: https://www.econbiz.de/10009743745
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State visits and international trade
Nitsch, Volker (contributor) - 2005
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/10003202927
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Trust in public institutions over the business cycle
Stevenson, Betsey; Wolfers, Justin - 2011
We document that trust in public institutions - and particularly trust in banks, business and government - has declined over recent years. U.S. time series evidence suggests that this partly reflects the pro-cyclical nature of trust in institutions. Cross-country comparisons reveal a clear...
Persistent link: https://www.econbiz.de/10009011131
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What do we know about recent exchange rate models? : in-sample fit and out-of-sample performance evaluated
Cheung, Yin-Wong; Chinn, Menzie David; Pascual, Antonio … - 2003
Previous assessments of nominal exchange rate determination have focused upon a narrow set of models typically of the 1970 s vintage, including monetary and portfolio balance models. In this paper we re-assess the in-sample fit and out-of-sample prediction of a wider set of models that have been...
Persistent link: https://www.econbiz.de/10011507659
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Ageing and the tax implied in public pension schemes : simulations for selected OECD countries
Fenge, Robert; Werding, Martin - 2003
, this will be illustrated for the cases of France, Germany, Italy, Japan, Sweden, the UK, and the US. The results are based …
Persistent link: https://www.econbiz.de/10011514127
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Will stability last?
Martin, Will (contributor); Rowthorn, Bob (contributor) - 2004
the last decade. Using stylised models of the economies of the US, Euro area, UK and Japan, we argue that economic …
Persistent link: https://www.econbiz.de/10002521030
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The world's rust belts : the heterogeneous effects of deindustrialization on 1,993 cities in six countries
Gagliardi, Luisa; Moretti, Enrico; Serafinelli, Michel - 2023
, Italy, Japan, and the United States. In all six countries we find a strong negative relationship between a city's share of …
Persistent link: https://www.econbiz.de/10014444059
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Economic policy uncertainty and unemployment in the United States : a nonlinear approach
Caggiano, Giovanni; Castelnuovo, Efrem; Figueres, Juan … - 2018
We model U.S. post-WWII monthly data with a Smooth Transition VAR model and study the effects of an unanticipated increase in economic policy uncertainty on unemployment in recessions and expansions. We find the response of unemployment to be statistically and economically larger in recessions....
Persistent link: https://www.econbiz.de/10011864417