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Monetary approach to inflation: A medium-term structural model in a small open economy (the case of the Czech Republic in 1996-2004)

Arlt, Josef; Kodera, Jan; Mandel, Martin; Tomšík, … - In: Politická ekonomie 2006 (2006) 3

The paper analyses a relationship between monetary aggregate M2 and inflation in a small open economy. The relationship … between monetary expansion and inflation as well as a dynamic of income velocity of money framework in a small open economy … money and tradables inflation in the case of the Czech small open economy is not found. The conclusions presented in the …

Persistent link: https://www.econbiz.de/10005036707

The Pecking Order of Cross-Border Investment

Daude, Christian - 2006

Is there a pecking order of cross-border investment in that countries become financially integrated primarily through some types of investment rather than others? Using a novel database of bilateral capital stocks for all types of investment - FDI, portfolio equity securities, debt securities as...

Persistent link: https://www.econbiz.de/10012780901

Der Beschluss des Bundesverfassungsgerichts zum OMT-Programm der EZB

Zeitler, Franz-Christoph; Fratzscher, Marcel; Murswiek, … - In: Ifo Schnelldienst 67 (2014) 06, pp. 03-25

Das Bundesverfassungsgericht hat im Februar 2014 seine Entscheidung zum Beschluss der Europäischen Zentralbank zum OMT-Programm vom September 2012 verkündet. Wie ist diese Entscheidung zu werten? Franz-Christoph Zeitler, Universität Augsburg und ehemals Deutsche Bundesbank, sieht in dem...

Persistent link: https://www.econbiz.de/10010778750

On the International Spillovers of US Quantitative Easing

Fratzscher, Marcel; Duca, Marco Lo; Straub, Roland - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2013

The paper analyses the global spillovers of the Federal Reserve's unconventional monetary policy measures. First, we find that Fed measures in the early phase of the crisis (QE1), but not since 2010 (QE2), were highly effective in lowering sovereign yields and raising equity markets in the US...

Persistent link: https://www.econbiz.de/10010662984

TARGET Balances - An Anchor of Stability

Fratzscher, Marcel; König, Philipp; Lambert, Claudia - In: DIW Economic Bulletin 3 (2013) 11/12, pp. 3-11

The debate about TARGET2, the payment system of the European System of Central Banks (ESCB), has resulted in controversial discussions in Germany in recent years. The present study by DIW Berlin concludes that fears often expressed in this context of the risks to Germany are largely unfounded....

Persistent link: https://www.econbiz.de/10011128066

Target-Salden - ein Anker der Stabilität

Fratzscher, Marcel; König, Philipp; Lambert, Claudia - In: DIW Wochenbericht 80 (2013) 44, pp. 19-28

Target 2 - the payment system of the Eurosystem - caused a controversial debate in Germany during the recent past. This report reaches the conclusion, that any fear expressed with respect to potentially too large risks for Germany is to a large extent unfounded. Rather, Germany should be...

Persistent link: https://www.econbiz.de/10011128409

Liquiditätsmanagement des Eurosystems im Zeichen der Krise

Fratzscher, Marcel; König, Philipp; Lambert, Claudia - In: DIW Wochenbericht 80 (2013) 44, pp. 3-17

Since the beginning of the crisis, large Target 2 positions developed on the balance sheets of the national central banks in the euro area. At the height of this development in the middle of 2012, the German Bundesbank disclosed Target-claims vis-à-vis the ECB amounting to around 750 billion...

Persistent link: https://www.econbiz.de/10011128805

The Transmission of Emerging Market Shocks to Global Equity Markets

Cuadro Sáez, Lucía - 2007

The paper analyses whether, and to what extent, emerging market economies (EMEs) have systemic importance for global financial markets, above and beyond their influence during crises episodes. Using a novel database of exogenous economic and political shocks for 14 EMEs, we find that EME shocks...

Persistent link: https://www.econbiz.de/10012728904

The Transmission of Emerging Market Shocks to Global Equity Markets

Cuadro Sáez, Lucía - 2007

Persistent link: https://www.econbiz.de/10012777869

Does it Pay to Have the Euro? Italy's Troubled Politics and Financial Markets Under the Lira and the Euro

Fratzscher, Marcel - 2008

There is a broad consensus that the quality of the political system and its institutions are fundamental for a country's prosperity. The paper focuses on Italy's troubled politics over the past 35 years and asks whether the adoption of the euro in 1999 has helped insulate Italy's financial...

Persistent link: https://www.econbiz.de/10012725659