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Monetary Transmission Mechanism in Transition Economies: Surveying the Surveyable

Egert, Balazs; MacDonald, Ronald - CESifo - 2006

This paper surveys recent advances in the monetary transmission mechanism (MTM). In particular, while laying out the functioning of the separate channels in the MTM, special attention is paid to exploring possible interrelations between different channels through which they may amplify or...

Persistent link: https://www.econbiz.de/10005094342

The Role of the IFO Business Climate Indicator and Asset Prices in German Monetary Policy

Sterken, Elmer - CESifo - 2004

We analyze the role of forward-looking indicators, like the IFO business climate indicator and asset prices, in German monetary transmission. We show that the use of both the IFO indicator and asset prices improves the performance and interpretation of a Vector AutoRegression (VAR) model of...

Persistent link: https://www.econbiz.de/10005181242

Convergence of Monetary Transmission in EMU New Evidence

Toolsema, Linda A.; Sturm, Jan-Egbert; Haan, Jakob de - CESifo - 2001

This paper examines how the pass-through of monetary policy measures in 6 EMU countries has evolved over time and whether there is convergence in monetary transmission. The countries included are: Belgium, France, Germany, Italy, the Netherlands and Spain, and the sample period is 1980-2000. We...

Persistent link: https://www.econbiz.de/10005181532

Asymmetric Monetary Transmission in EMU: The Robustness of VAR Conclusions and Cecchetti’s Legal Family Theory

Elbourne, Adam; Haan, Jakob de - CESifo - 2004

We review studies on monetary transmission in the EU countries using the VAR approach and analyse why they often lead to divergent outcomes. Firstly, we estimate 43 VAR models across ten EU countries and compare the robustness of the ranking of the magnitudes of the price and output responses....

Persistent link: https://www.econbiz.de/10005406120

Money, Credit and Banking

Berentsen, Aleksander; Camera, Gabriele; Waller, Christopher - CESifo - 2005

’ liquidity constraints. We also demonstrate that increasing the rate of inflation can be welfare improving when credit rationing …

Persistent link: https://www.econbiz.de/10005405820

Emergent Dynamics of a Macroeconomic Agent Based Model with Capital and Credit

Assenza, Tiziana; Gatti, Domenico Delli; Grazzini, Jakob - CESifo - 2014

Agent-Based Model with Capital and Credit (hereafter CC-MABM). The novelty of this model with respect to the previous …

Persistent link: https://www.econbiz.de/10010764279

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