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Die vorliegende Dissertation zu makroökonomischen Themen beinhaltet einen einleitenden Literaturüberblick, drei eigenständige und voneinander unabhängige Kapitel sowie einen technischen Anhang. In Kapitel zwei wird ein Zwei-Länder Modell einer Währungsunion betrachtet, in dem die...
Persistent link: https://www.econbiz.de/10009467184
Policy simulations for national economies with econometric models in general are done using a stand alone national model with exogenous export values and import prices. In a globalised world such an exercise is critical, since the policy in question may change the export prices and the import...
Persistent link: https://www.econbiz.de/10010266821
We present a theoretical framework for policy making based on the "impossible trinity" or the "trilemma" hypothesis. A simple optimization model shows that placing more weight in terms of preference for each of the three open macroeconomic policies - exchange rate stability, financial market...
Persistent link: https://www.econbiz.de/10010397242
Persistent link: https://www.econbiz.de/10001409611
Many economic booms have been accompanied by a real exchange rate appreciation, a large trade deficit and a deteriorating traded sector, and have raised the question of the desirability of some stabilization policy. We characterize the dynamics created by an expected productivity rise in an open...
Persistent link: https://www.econbiz.de/10014173802
In the open economy control conditions, the government's main concern should be ensurance of macroeconomic stabilization. One of real tools for achieving this goal is monetary and budgetary levers' combination, in which strong fiscal stimuls should be merged with monetary policy, although...
Persistent link: https://www.econbiz.de/10012955223
We propose a new measure of macroeconomic disagreement, using dispersions of forecasts of a wide range of financial, activity and inflation variables from both household and professional surveys at various frequencies. With a mixed-frequency state-space model, we construct macroeconomic...
Persistent link: https://www.econbiz.de/10012889329
This paper presents a theoretical framework for policy making based on the “impossible trinity” or the “trilemma” hypothesis. A simple optimization model shows that placing more weight in terms of preference for each of the three open macroeconomic policies — exchange rate stability,...
Persistent link: https://www.econbiz.de/10013059742
Islam proposes the replacement of an interest-based financial system with one which operates on the basis of risk and profit sharing. Using a general equilibrium model, this paper investigates some open-economy implications of the adoption of Islamic banking for growth and stabilization of the...
Persistent link: https://www.econbiz.de/10014396001
The standard model of signaling used in open economy macroeconomics concentrates on building a reputation when a policymaker's `type' is unknown. Observing tough policy leads market participants to raise the probability that a policymaker is tough, and therefore to expect tough policy in the...
Persistent link: https://www.econbiz.de/10013248246