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Determinants of Country Beta Risk in Poland

Wdowinski, Piotr - CESifo - 2004

In the paper we analyze determinants of the capital market beta risk in Poland in the monthly period 1996-2002. The … market risk in Poland in the period 1999-2002. We find that monetary variables as exchange rate and interest rate have … relatively more power than real variables in explaining the beta market risk in Poland. …

Persistent link: https://www.econbiz.de/10005249463

Financial Markets and Economic Growth in Poland: Simulations with an Econometric Model

Wdowinski, Piotr - CESifo - 2005

economic growth in Poland over the period Q2, 1993 – Q2, 2003. …

Persistent link: https://www.econbiz.de/10005766248

Municipal Finance in Poland, the Slovak Republic, the Czech Republic and Hungary: Institutional Framework and Recent Development

Nam, Chang Woon; Parsche, Rüdiger - CESifo - 2001

administrative co-operation with the central government and of the less well-developed financial market in Poland, the Slovak …

Persistent link: https://www.econbiz.de/10005406201

Significance and Determination of Fees for Municipal Finance

Friedrich, Peter; Kaltschuetz, Anita; Nam, Chang Woon - CESifo - 2004

to survey the recent development of municipal finance: Britain, Germany, Poland and Switzerland. This paper firstly …

Persistent link: https://www.econbiz.de/10005406299

Transparency, Flexibility and Macroeconomic Stabilization

Geraats, Petra - CESifo - 2014

Many central banks have become more transparent during the last decade, in particular about macroeconomic prospects. This paper shows that such economic transparency could give central banks greater flexibility to respond to macroeconomic shocks. In particular, it allows central banks to...

Persistent link: https://www.econbiz.de/10010877697

How Expoerts Decide: Preferences or Private Assessments on a Monetary Policy Committee?

Hansen, Stephen; McMahon, Michael; Rivera, Carlos Velasco - CESifo - 2013

Using voting data from the Bank of England, we show that different individual assessments of the economy strongly influence votes after controlling for individual policy preferences. We estimate that internal members form more precise assessments than externals and are also more hawkish, though...

Persistent link: https://www.econbiz.de/10010877935

Asset Allocation and Monetary Policy: Evidence from the Eurozone

Hau, Harald; Lai, Sandy - CESifo - 2014

The eurozone has a single short-term nominal interest rate, but monetary policy conditions measured by real short-term interest rates varied substantially across countries in the period 2003-2010. We use this cross-country variation in the (local) tightness of monetary policy to examine its...

Persistent link: https://www.econbiz.de/10010948820

Monetary Policy and the Relative Price of Durable Goods

Cantelmo, Alessandro; Melina, Giovanni - CESifo - 2015

In a VAR model of the US, the response of the relative price of durables to a monetary contraction is either flat or mildly positive. It significantly falls only if narrowly defined as the ratio between new house and nondurables prices. These findings survive three identification strategies and...

Persistent link: https://www.econbiz.de/10011272622

Taxation, Corruption and the Exchange Rate Regime

Hefeker, Carsten - CESifo - 2009

The paper analyzes the relation between institutional quality, such as corruption, in a country and its monetary regime. It is shown that a credibly fixed exchange rate to a low inflation country, like a currency board, can reduce corruption and improve the fiscal system. A monetary union,...

Persistent link: https://www.econbiz.de/10005013051

First Impressions Matter: Signalling as a Source of Policy Dynamics

Hansen, Stephen; McMahon, Michael - CESifo - 2012

We first establish that policymakers on the Bank of England’s Monetary Policy Committee choose lower interest rates with experience. We then reject increasing confidence in private information or learning about the structure of the macroeconomy as explanations for this shift. Instead, a model...

Persistent link: https://www.econbiz.de/10010540726

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