Narrow search
Showing 1 - 10 of 96
Cover Image
Imperfect Competition, Monetary Policy and Welfare in a Currency Area
Lombardo, Giovanni - Deutsche Bundesbank - 2002
optimal inflation target for the asymmetric union is also discussed. …
Persistent link: https://www.econbiz.de/10005083139
Cover Image
Asset Prices in Taylor Rules: Specification, Estimation, and Policy Implications for the ECB
Siklos, Pierre L.; Werner, Thomas; Bohl, Martin T. - Deutsche Bundesbank - 2004
that central banks may be too aggressive at fighting inflation. Encompassing tests are therefore required to select the …
Persistent link: https://www.econbiz.de/10005083096
Cover Image
An estimated DSGE model for the German economy within the euro area
Pytlarczyk, Ernest - Deutsche Bundesbank - 2005
This paper presents an estimated DSGE model for the European Monetary Union. Our approach, contrary to the previous studies, accounts for heterogeneity within the euro area. We advance the empirical literature by estimating an open-economy model with unfiltered data, which is a much more...
Persistent link: https://www.econbiz.de/10005083098
Cover Image
Inflation targeting rules and welfare in an asymmetric currency area
Lombardo, Giovanni - Deutsche Bundesbank - 2004
-maximizing central bank should react more aggressively to the inflation pressure generated by the more competitive economy. We extend the …
Persistent link: https://www.econbiz.de/10005083325
Cover Image
Asset prices, collateral, and unconventional monetary policy in a DSGE model
Hilberg, Björn; Hollmayr, Josef - Deutsche Bundesbank - 2013
bank can stabilize all variables at the cost of higher inflation and that macroeconomic volatility is smallest if the …
Persistent link: https://www.econbiz.de/10010984718
Cover Image
The ESRB at 1
Gerlach, Stefan (ed.); Gnan, Ernest (ed.); Ulbrich, Jens (ed.) - Conference on ESRB at 1 <1, 2011, Berlin>; SUERF - The …; … - 2012
SUERF – The European Money and Finance Forum, the Deutsche Bundesbank and the Institute for Monetary and Financial Stability (IMFS) took the opportunity of the first anniversary of this new institution to organise a joint conference in Berlin on 8-9 November 2011. The purpose of this event was...
Persistent link: https://www.econbiz.de/10011711529
Cover Image
Comovements and heterogeneity in the Comovements and heterogeneity in the dynamic factor model
Eickmeier, Sandra - Deutsche Bundesbank - 2006
, most countries' output and inflation are also affected by long-lasting idiosyncratic shocks. Unweighted dispersion is … 1999 on and of inflation in the mid-1980s and the mid-1990s. To examine the transmission of common shocks to individual EMU … shock, one common monetary policy shock and a US shock. We find similar output and inflation responses across countries …
Persistent link: https://www.econbiz.de/10005083190
Cover Image
Robust monetary policy in a new Keynesian model with imperfect interest rate pass-through
Gerke, Rafael; Hammermann, Felix - Deutsche Bundesbank - 2011
inflation rate preemptively, but accepts higher volatility in the output gap and the loan rate. Third, if the central bank faces … inflation. …
Persistent link: https://www.econbiz.de/10009643165
Cover Image
More or less aggressive? Robust monetary policy in a New Keynesian model with financial distress
Gerke, Rafael; Hammermann, Felix; Lewis, Vivien - Deutsche Bundesbank - 2009
This paper investigates the optimal monetary policy response to a shock to collateral when policymakers act under discretion and face model uncertainty. The analysis is based on a New Keynesian model where banks supply loans to transaction constrained consumers. Our results confirm the...
Persistent link: https://www.econbiz.de/10005059030
Cover Image
Real-time data and business cycle analysis in Germany
Döpke, Jörg - Deutsche Bundesbank - 2004
. The consequences of using real-time data for inflation forecasts, the dynamic interaction of output gaps and inflation …
Persistent link: https://www.econbiz.de/10005083158