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Monetary Commitment and Structural Reforms: A Dynamic Panel Analysis for Transition Economies

Belke, Ansgar; Vogel, Lukas - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2012

This paper examines the contemporaneous relationship between the exchange rate regime and structural economic reforms for a sample of CEEC/CIS transition countries. We investigate empirically whether structural reforms are complements or substitutes for monetary commitment in the attempt to...

Persistent link: https://www.econbiz.de/10010556651

The Euro Area Crisis Management Framework: Consequences and Institutional Follow-Ups

Belke, Ansgar - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2010

The current instruments in the EU to deal with debt and liquidity crises include among others the European Financial …

Persistent link: https://www.econbiz.de/10008693465

The Shadow Economy in International Comparison: Options for Economic Policy Derived from an OECD Panel Analysis

Thießen, Ulrich - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2010

Building on new behavioral and institutional theories, using a data set of about 450 variables and augmenting the Sala-i-Martin definition of robustness, we find evidence in support of the hypothesis that the standard causes of the shadow economy (SE), taxes, the administrative burden and labor...

Persistent link: https://www.econbiz.de/10008568552

Reinforcing EU Governance in Times of Crisis: The Commission Proposals and Beyond

Belke, Ansgar - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2010

and debt restructuring, EMF, project bonds and Eurobonds. …

Persistent link: https://www.econbiz.de/10008756093

The European Debt Crisis and Fiscal Reaction Functions in Europe 2000-2012

Baldi, Guido; Staehr, Karsten - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2013

After the global financial crisis, some governments in the EU experienced serious debt financing problems, while others … groups of countries, but generally little feedback from the debt stock to the primary balance. The countries that eventually … from the debt stock, and these reactions are particularly pronounced for the countries with severe fiscal problems. …

Persistent link: https://www.econbiz.de/10010896193

The Relevance of International Spillovers and Asymmetric Effects in the Taylor Rule

Beckmann, Joscha; Belke, Ansgar; Dreger, Christian - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2014

Deviations of policy interest rates from the levels implied by the Taylor rule have been persistent before the financial crisis and increased especially after the turn of the century. Compared to the Taylor benchmark, policy rates were often too low. This paper provides evidence that both...

Persistent link: https://www.econbiz.de/10010933709

The Cross-Section of Output and Inflation in a Dynamic Stochastic General Equilibrium Model with Sticky Prices

Döpke, Jörg; Funke, Michael; Holly, Sean; Weber, Sebastian - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009

In a standard dynamic stochastic general equilibrium framework, with sticky prices, the cross sectional distribution of output and inflation across a population of firms is studied. The only form of heterogeneity is confined to the probability that the ith changes its prices in response to a...

Persistent link: https://www.econbiz.de/10005018674

Modifying Taylor Reaction Functions in Presence of the Zero-Lower-Bound: Evidence for the ECB and the Fed

Belke, Ansgar; Klose, Jens - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2012

We propose an alternative way of estimating Taylor reaction functions if the zero-lowerbound on nominal interest rates is binding. This approach relies on tackling the real rather than the nominal interest rate. So if the nominal rate is (close to) zero central banks can influence the inflation...

Persistent link: https://www.econbiz.de/10010556953

Sovereign Bond Yield Spreads: A Time-Varying Coefficient Approach

Bernoth, Kerstin; Erdogan, Burcu - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2010

government debt level and the general investors' risk aversion had a significant impact on interest differentials. In the …

Persistent link: https://www.econbiz.de/10008740506

A Simple Model of an Oil Based Global Savings Glut: The "China Factor" and the OPEC Cartel

Belke, Ansgar; Gros, Daniel - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009

The purpose of this contribution is to illustrate the mechanism by which higher oil prices might lead to lower interest rates in the context of a simple model that takes into account the global external savings equilibrium. The simple model has interesting implications for how one views the huge...

Persistent link: https://www.econbiz.de/10005068691