Narrow search
Showing 1 - 10 of 56
Cover Image
Asymmetric Monetary Policy Effects in Germany
Kuzin, Vladimir; Tober, Silke - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2004
In a small structural model we find asymmetries in the effects of monetary policy in Germany depending on whether the economy is in an upswing or a downswing. These two different regimes are also identified using a Markov-switching model and the Kalman filter. Our results indicate that the...
Persistent link: https://www.econbiz.de/10004963955
Cover Image
Optimal Monetary Policy in a Monetary Union with Housing and Credit Market Heterogeneity
Elstner, Steffen; Hristov, Nikolay; Hülsewig, Oliver; … - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2010
central bank puts a higher weight on stabilizing inflation in the country with a higher degree of nominal rigidity continues …-country disparities in the degree of price rigidities on the volatility of inflation are amplified. While the volatility of inflation in … the economy with a higher degree of price rigidity is almost as low as in the model without borrowers, inflation in the …
Persistent link: https://www.econbiz.de/10010661280
Cover Image
Optimal Monetary Policy in a Monetary Union with Housing and Credit Market Heterogeneity
Elstner, Steffen; Hristov, Nikolay; Hülsewig, Oliver; … - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2010
central bank puts a higher weight on stabilizing inflation in the country with a higher degree of nominal rigidity continues …-country disparities in the degree of price rigidities on the volatility of inflation are amplified. While the volatility of inflation in … the economy with a higher degree of price rigidity is almost as low as in the model without borrowers, inflation in the …
Persistent link: https://www.econbiz.de/10011128094
Cover Image
Euro Area Government Bonds: Integration and Fragmentation during the Sovereign Debt Crisis
Ehrmann, Michael; Fratzscher, Marcel - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2015
The paper analyzes the integration of euro area sovereign bond markets during the European sovereign debt crisis. It tests for contagion (i.e., an intensification in the transmission of shocks across countries), fragmentation (a reduction in spillovers) and flight-to-quality patterns, exploiting...
Persistent link: https://www.econbiz.de/10011273259
Cover Image
Filtering German Economic Conditions from a Large Dataset: The New DIW Economic Barometer
Viefers, Paul; Fichtner, Ferdinand; Junker, Simon; … - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2014
This paper presents a revised version of the DIW Economic Barometer, the business cycle index of the German Institute for Economic Research (DIW Berlin). As in earlier versions, we put forward a factor model on a monthly frequency to filter the latent state of the aggregate economy. In the new...
Persistent link: https://www.econbiz.de/10010933108
Cover Image
War, Housing Rents, and Free Market: A Case of Berlin's Rental Housing Market during the World War I
Kholodilin, Konstantin A. - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2015
Before the World War I, the urban rental housing market in Germany could be described as a free and competitive market. The government hardly interfered in the relationships between the landlords and ten- ants. The rents were set freely. During the World War I, the market was hit by several...
Persistent link: https://www.econbiz.de/10011273260
Cover Image
An Early Warning System to Predict the House Price Bubbles
Dreger, Christian; Kholodilin, Konstantin A. - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2011
In this paper, we construct the country-specific chronologies of the house price bubbles for 12 OECD countries over the period 1969:Q1- 2010:Q2. These chronologies are obtained using a combination of a fundamental and a filter approaches. The resulting speculative bubble chronology is the one...
Persistent link: https://www.econbiz.de/10009216692
Cover Image
The Chinese Impact on GDP Growth and Inflation in the Industrial Countries
Dreger, Christian; Zhang, Yanqun - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2011
investigates to what extent this process affects output growth and inflation in the advanced countries. A GVAR model is specified … multipliers are also reduced by a sizeable effect on inflation, as Chinese firms participate in international production chains. …
Persistent link: https://www.econbiz.de/10009294978
Cover Image
Big Banks and Macroeconomic Outcomes: Theory and Cross-Country Evidence of Granularity
Bremus, Franziska; Buch, Claudia M.; Russ, Katheryn N.; … - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2013
Does the mere presence of big banks affect macroeconomic outcomes? In this paper, we develop a theory of granularity (Gabaix, 2011) for the banking sector, introducing Bertrand competition and heterogeneous banks charging variable markups. Using this framework, we show conditions under which...
Persistent link: https://www.econbiz.de/10010722772
Cover Image
Leading Indicators of Euroland Business Cycles
Fritsche, Ulrich; Marklein, Felix - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2001
Die Einführung einer gemeinsamen Geldpolitik in elf europäischen Ländern erhöhte die Bedeutung von konjunkturellen Frühindikatoren für dieses Gebiet. Brauchbare Frühindikatoren sollten folgende Eigenschaften besitzen: (1) Die konjunkturellen Bewegungen des Frühindikators sollten denen...
Persistent link: https://www.econbiz.de/10004963607