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Stock Prices and Money Velocity: A Multi-Country Analysis.
Caruso, M. - Banca d'Italia - 1996
What kind of information do stock prices offer for predicting velocity? This paper develops previous work by Milton …
Persistent link: https://www.econbiz.de/10005780692
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Forecasting Industrial Production in the Euro Area.
Bodo, G.; Golinelli, R.; Parigi, G. - Banca d'Italia - 2000
The creation of the Euro area has increased the importance of obtaining timely information about short-term changes in the area's real activity. In this paper we propose a number of alternative short-term forecasting models, ranging from simple ARIMA models to more complex cointegrated VAR and...
Persistent link: https://www.econbiz.de/10005640910
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The Seasonal Adjustment of the Harmonised Index of Consumer Prices for the Euro Area: a Comparaison of Derect and Indirect Methods.
Cristadoro, R.; Sabbatini, R. - Banca d'Italia - 2000
In this paper we analyse the Harmonised Index of Consumer Prices, which plays a key role in conduct of monetary policy … in the euro area. Knowledge of the characteristics of the short-term evolution of consumer prices for each country and …
Persistent link: https://www.econbiz.de/10005671378
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Stock Values and Fundamentals: Link or Irrationality?.
Fornari, F.; Pericoli, M. - Banca d'Italia - 2000
In this paper, econometric techniques are employed to analyze the continuous and remarkable growth which has characterized international stock markets since 1995. The Campbell and Shiller dividend discount model, a dynamic version of Gordon's formula commonly employed by financial analysts to...
Persistent link: https://www.econbiz.de/10005671380
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Memory for prices and the euro cash changeover: An analysis for cinema prices in Italy
Cestari, Vincenzo; Giovane, Paolo Del; Rossi-Arnaud, Clelia - Banca d'Italia - 2007
The question addressed by this study is whether consumers remember past prices correctly. We test Italian citizensï …¿½ memory for cinema prices with questionnaires distributed to moviegoers. The analysis concentrates on the memory of pre …-euro prices, but the recall for a more recent period is also investigated. The results show that only a small percentage of …
Persistent link: https://www.econbiz.de/10005770754
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The Seasonality of the Italian Cost-of-Living Index
Cubadda, G.; Sabbatini, R. - Banca d'Italia - 1997
In the case of the consumer price index the importance of a seasonally adjusted measure lies in the possibility of promptly identifying turning points in inflation. The focus of this paper is the so-called "cost-of-living" index, the most used measure of Italian inflation. Our aim is to identify...
Persistent link: https://www.econbiz.de/10005486712
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The short-term impact of government budgets on prices; evidence from macroeconometric models
Henry, Jerome; Cos, Pablo Hernandez de; Momigliano, Sandro - Banca d'Italia - 2004
This paper reviews the existing empirical evidence on the short-term impact on prices of fiscal variables and assesses … Commission and the OECD models. Overall, a broad consensus appears on the impact on prices of changes in individual government … limited impact on prices in the first year while, in contrast, changes in indirect taxes and employers� social security …
Persistent link: https://www.econbiz.de/10005113650
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How Deep Are the Deep Parameters?
Altissimo, F.; Siviero, S.; Terlizzese, D. - Banca d'Italia - 1999
Policy evaluation based on the estimation of dynamic stochastic general equilibrium models with aggregate macroeconomic time series rests on the assumption that a representative agent can be identified, whose behavioural parameters are independent of the policy rules. Building on earlier work by...
Persistent link: https://www.econbiz.de/10005640912