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Bayesian estimation of a DSGE model for the Portuguese economy

Almeida, Vanda - Banco de Portugal - 2009

In this paper, a New-Keynesian DSGE model for a small open economy integrated in a monetary union is developed and estimated for the Portuguese economy, using a Bayesian approach. Estimates for some key structural parameters are obtained and a set of exercises exploring the model's empirical...

Persistent link: https://www.econbiz.de/10008524254

Forecasting Inflation Through a Bottom-Up Approach: The Portuguese Case

Duarte, Cláudia; Rua, António - Banco de Portugal - 2005

The aim of this paper is to assess inflation forecasting acurracy over the short-term horizon using Consumer Price …

Persistent link: https://www.econbiz.de/10008524272

Money growth and inflation in the euro area: a time-frequency view

Rua, António - Banco de Portugal - 2011

This paper provides new insights on the relationship between money growth and inflation in the euro area over the last … analysis. In particular, wavelet analysis allows to study simultaneously the relationship between money growth and inflation in … between inflation and money growth at low frequencies over the whole sample period. At the typical business cycle frequency …

Persistent link: https://www.econbiz.de/10009292988

Unpleasant debt dynamics: Can fiscal consolidations raise debt ratios?

Castro, Gabriela Lopes de; Félix, Ricardo Mourinho; … - Banco de Portugal - 2015

Using PESSOA, a medium-scale DSGE model for a small euro-area economy, we evaluate how scal adjustments impact short- and medium-term debt dynamics and output for alternative policy options, and budgetary and economic conditions. Fiscal djustments may increase the public debt-to-GDP ratio in the...

Persistent link: https://www.econbiz.de/10011228163

The Pricing Behaviour of Firms in the Euro Area: New Survey Evidence

Fabiani, S.; Druant, M.; Hernando, I.; Kwapil, C.; … - Banco de Portugal - 2005

This study investigates the pricing behaviour of firms in the euro area on the basis of surveys conducted by nine Eurosystem national central banks. Overall, more than 11,000 firms participated in the survey. The results are very robust across countries. Firms operate in monopolistically...

Persistent link: https://www.econbiz.de/10008524117

Evidence from surveys of price-setting managers: Policy lessons and directions for ongoing research

Gaspar, Vítor; Levin, Andrew; Martins, Fernando; … - Banco de Portugal - 2009

influencing the characteristics of aggregate inflation and in determining how monetary policy affects inflation and real economic …

Persistent link: https://www.econbiz.de/10008524169

How are Firms’ Wages and Prices Linked: Survey Evidence in Europe

Druant, M.; Fabiani, S.; Kezdi, Gabor; Lamo, Ana; … - Banco de Portugal - 2009

This paper presents new evidence on the patterns of price and wage adjustment in European firms and on the extent of nominal rigidities. It uses a unique dataset collected through a firm-level survey conducted in a broad range of countries and covering various sectors. Several conclusions are...

Persistent link: https://www.econbiz.de/10008524302

Price and wage setting in Portugal learning by asking

Martins, Fernando - Banco de Portugal - 2011

: i) changes to wages are more synchronized than changes to prices; ii) most wages are defined using inflation as a …

Persistent link: https://www.econbiz.de/10009002103

Survey evidence on price and wage rigidities in Portugal

Martins, Fernando - Banco de Portugal - 2013

This paper exploits the information collected from a survey conducted on a sample of Portuguese firms to study the patterns of firms’ price and wage adjustments and the extent of nominal price and wage rigidities. The evidence shows that the frequency of price changes varies substantially...

Persistent link: https://www.econbiz.de/10010700804

Autoregressive augmentation of MIDAS regressions

Duarte, Cláudia - Banco de Portugal - 2014

Focusing on the MI(xed) DA(ta) S(ampling) regressions for handling different sampling frequencies and asynchronous releases of information, alternative techniques for the autoregressive augmentation of these regressions are presented and discussed. For forecasting quarterly euro area GDP growth...

Persistent link: https://www.econbiz.de/10010833990