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Remittance flows and U.S. monetary policy

Machasio, Immaculate; Tillmann, Peter - 2021 - This version: October 27, 2021

Remittance inflows are driven by macroeconomic conditions in the home and the host economies, respectively. In this paper, we study the effect of U.S. monetary policy on remittance flows into economies in Latin American and the Caribbean. The role of Fed policy for remittances has not yet been...

Persistent link: https://www.econbiz.de/10012694427

Economic integration and the foreign exchange

Weber, Enzo (contributor) - 2007

This paper demonstrates effects of economic convergence processes on the foreign exchange behaviour in a monetary modelling approach. Since the exchange rate represents the relative price of two currencies, commonness of stochastic trends between the fundamental determinants of supply and demand...

Persistent link: https://www.econbiz.de/10003633997

The Fed's perceived Phillips curve : vidence from individual FOMC forecasts

Tillmann, Peter - 2009

on individual forecasts for unemployment and inflation submitted by each individual FOMC member, which was recently made … policymakers were aware of these changes in real-time. -- inflation forecast ; NAIRU ; Phillips curve ; monetary policy ; Federal …

Persistent link: https://www.econbiz.de/10003908176

Regime-dependent effects of monetary policy shocks : evidence from threshold vector autoregressions

Mandler, Martin - 2010

autoregressive model. In a high inflation regime the standard results from the literature obtain. In a low inflation regime output … shows no significant response to monetary policy while the inflation response is negative. The paper endogenously determines …

Persistent link: https://www.econbiz.de/10003950519

Strategic forecasting on the FOMC

Tillmann, Peter - 2010

deciding about interest rate policy, members individually formulate regular inflation forecasts. This paper uncovers systematic … differences in individual inflation forecasts submitted by voting and non-voting members. Based on a data set with individual … forecasts recently made available it is shown that non-voters systematically overpredict inflation relative to the consensus …

Persistent link: https://www.econbiz.de/10003962970

Inflation expectations spillovers between the United States and euro area

Netšunajev, Aleksei; Winkelmann, Lars - 2014

We quantify spillovers of inflation expectations between the United States (US) and Euro Area (EA) based on break …-even inflation (BEI) rates. In contrast to previous studies, we model US and EA BEI rates jointly in a structural vector … autoregressive (SVAR) model. The SVAR approach allows to identify US and EA specific inflation expectations shocks. By modeling the …

Persistent link: https://www.econbiz.de/10010255370

How far are we from the slippery slope? : The Laffer curve revisited

Trabandt, Mathias (contributor); Uhlig, Harald (contributor) - 2006

The goal of this paper is to examine the shape of the Laffer curve quantitatively in a simple neoclassical growth model calibrated to the US as well as to the EU-15 economy. We show that the US and the EU-15 area are located on the left side of their labor and capital tax Laffer curves, but the...

Persistent link: https://www.econbiz.de/10003324358

Regional and outward economic integration in South-East Asia

Weber, Enzo (contributor) - 2007

The subject of this paper tackles questions of macroeconomic integration of the South-East Asian countries South Korea, Singapore and Taiwan. Economically, the analysis is based on notions of stochastic long-run convergence and business cycle synchrony in the GDPs. According tests for...

Persistent link: https://www.econbiz.de/10003633585

Communicating with many tongues : FOMC speeches and US financial market reaction

Hayo, Bernd; Kutan, Ali Mustafa; Neuenkirch, Matthias - 2008

This paper studies the effects of FOMC communication on U.S. financial markets’ returns and volatility using a GARCH model over the period from 1998 to 2006. We build a new data set that includes information on all FOMC speeches, post-meeting statements, monetary policy reports and...

Persistent link: https://www.econbiz.de/10003864447

FOMC communication and emerging equity markets

Hayo, Bernd; Kutan, Ali Mustafa; Neuenkirch, Matthias - 2009

Using a GARCH model, we study the effects of Federal Funds target rate changes and FOMC communication on emerging equity market returns and volatility over the period 1998–2006. First, both types of news have a significant impact on market returns. Second, target rate changes are more...

Persistent link: https://www.econbiz.de/10003852244