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Opting out of the great inflation: German monetary policy after the break down of Bretton Woods

Beyer, Andreas; Gaspar, Vítor; Gerberding, Christina; … - Center for Financial Studies - 2008

interpreted, first and foremost, as a commitment device. In our setting, a monetary target helps anchoring inflation and inflation … well as a strong response to deviations of inflation from target and to the activity growth gap. In contrast, the response …

Persistent link: https://www.econbiz.de/10010986410

Do oil price increases cause higher food prices?

Baumeister, Christiane; Kilian, Lutz - Center for Financial Studies - 2013

U.S. retail food price increases in recent years may seem large in nominal terms, but after adjusting for inflation …

Persistent link: https://www.econbiz.de/10010958646

Are stationary hyperinflation paths learnable?

Adam, Klaus; Evans, George W.; Honkapohja, Seppo - Center for Financial Studies - 2003

Earlier studies of the seigniorage inflation model have found that the high-inflation steady state is not stable under … on stationary hyperinflationary paths near the high-inflation steady state. The hyperinflationary paths are stable under …

Persistent link: https://www.econbiz.de/10010958763

Inflation and unemployment revisited: Grease vs. sand

Groshen, Erica L.; Schweitzer, Mark E. - Center for Financial Studies - 1998

As inflation rates in the United States decline, analysts are asking if there are economic reasons to hold the rates at … levels above zero. Previous studies of whether inflation greases the wheels of the labor market ignore inflation's potential … allows the benefits of inflation (downward wage flexibility) to be separated from disruptive uncertainty about inflation rate …

Persistent link: https://www.econbiz.de/10010958799

Opting out of the Great Inflation: German Monetary Policy after the Break Down of Bretton Woods

Beyer, Andreas; Gaspar, Vítor; Gerberding, Christina; … - Center for Financial Studies - 2009

Persistent link: https://www.econbiz.de/10005007633

Are Stationary Hyperinflation Paths Learnable?

Adam, Klaus; Evans, George W.; Honkapohja, Seppo - Center for Financial Studies - 2004

Persistent link: https://www.econbiz.de/10005120784

Openness, financial markets, and policies: Cross-country and dynamic patterns

Bertola, Giuseppe; Lo Prete, Anna - Center for Financial Studies - 2008

We document significant and robust empirical relationships in cross-country panel data between government size or social expenditure on the one hand, and trade and financial development indicators on the other. Across countries, deeper economic integration is associated with more intense...

Persistent link: https://www.econbiz.de/10010958638

Real-time price discovery in stock, bond and foreign exchange markets

Andersen, Torben G.; Bollerslev, Tim; Diebold, Francis X.; … - Center for Financial Studies - 2004

We characterize the response of U.S., German and British stock, bond and foreign exchange markets to real-time U.S. macroeconomic news. Our analysis is based on a unique data set of high-frequency futures returns for each of the markets. We find that news surprises produce conditional mean...

Persistent link: https://www.econbiz.de/10010958800

Real-Time Price Discovery in Stock, Bond and Foreign Exchange Markets

Andersen, Torben G.; Bollerslev, Tim; Diebold, Francis X.; … - Center for Financial Studies - 2004

Persistent link: https://www.econbiz.de/10005022409

The evolution of aggregate stock ownership

Rydqvist, Kristian; Spizman, Joshua; Strebulaev, Ilya - Center for Financial Studies - 2011

Since World War II, direct stock ownership by households has largely been replaced by indirect stock ownership by financial institutions. We argue that tax policy is the driving force. Using long time-series from eight countries, we show that the fraction of household ownership decreases with...

Persistent link: https://www.econbiz.de/10010958665