Narrow search
Showing 1 - 10 of 216
Cover Image
Exchange rate dynamics, expectations, and monetary policy
Chen, Qianying - Deutsche Bundesbank - 2011
This paper re-investigates the implications of monetary policy rules on changes in exchange rate, in a risk-adjusted, uncovered interest parity model with unrestricted parameters, emphasizing the importance of modeling market expectations of monetary policy. I use consensus forecasts as a proxy...
Persistent link: https://www.econbiz.de/10009283654
Cover Image
The term structure of interest rates and the macroeconomy: Learning about economic dynamics from a FAVAR
Halberstadt, Arne - Deutsche Bundesbank - 2015
econometric learning scheme as proposed by Laubach, Tetlow, and Williams (2007) in the estimation and compare the results to those … form their expectations according to the learning approach. …
Persistent link: https://www.econbiz.de/10011161229
Cover Image
Saving and learning: Theory and evidence from saving for child's college
Zhu, Junyi - Deutsche Bundesbank - 2012
learning model. The first section develops a dynamic model combining asset accumulation and learning to explain the parents … child's ability. The model infers that, with enough time spent learning, information can improve parents' welfare. This can … investigates college saving behavior when learning is present. Data suggest pessimistic and/or rich parents might reduce the level …
Persistent link: https://www.econbiz.de/10010957083
Cover Image
Learning about fiscal policy and the effects of policy uncertainty
Hollmayr, Josef; Matthes, Christian - Deutsche Bundesbank - 2013
The recent crisis in the United States has often been associated with substantial amounts of policy uncertainty. In this paper we ask how uncertainty about fiscal policy affects the impact of fiscal policy changes on the economy when the government tries to counteract a deep recession. The...
Persistent link: https://www.econbiz.de/10010957088
Cover Image
Public debt and changing inflation targets
Krause, Michael U.; Moyen, Stéphane - Deutsche Bundesbank - 2013
What are the effects of a higher central bank inflation target on the burden of real public debt? Several recent proposals have suggested that even a moderate increase in the inflation target can have a pronounced effect on real public debt. We consider this question in a New Keynesian model...
Persistent link: https://www.econbiz.de/10010957089
Cover Image
Genetic learning as an explanation of stylized facts of foreign exchange markets
Lux, Thomas; Schornstein, Sascha - Deutsche Bundesbank - 2002
equilibrium dynamics resulting from this learning process helps to explain the main stylized facts of free-floating exchange rates … the GA algorithm (i.e. utilitybased versus rank-based or tournament selection, binary or real coding). However, appearance … the number of agents (not more than about 1000). With a larger population, this collective learning dynamics looses its …
Persistent link: https://www.econbiz.de/10005083146
Cover Image
Learning on the quick and cheap: gains from trade through imported expertise
Markusen, James R.; Rutherford, Thomas F. - Deutsche Bundesbank - 2005
experts and the learning (or "absorptive") capacity of the domestic economy. …
Persistent link: https://www.econbiz.de/10005083301
Cover Image
The timing and magnitude of exchange rate overshooting
Hoffmann, Mathias; Søndergaard, Jens; Westelius, Niklas J. - Deutsche Bundesbank - 2007
Empirical evidence suggests that a monetary shock induces the exchange rate to overshoot its long-run level. The estimated magnitude and timing of the overshooting, however, varies across studies. This paper generates delayed overshooting in a new Keynesian model of a small open economy by...
Persistent link: https://www.econbiz.de/10005083321
Cover Image
Merkblatt über den innerdeutschen Wirtschafts- und Zahlungsverkehr
1984
Persistent link: https://www.econbiz.de/10000000579
Cover Image
Zur Diskussion über den Verbraucherpreisindex als Inflationsindikator: Beiträge zu einem Workshop in der Deutschen Bundesbank
1999
In February 1998 a work was published in the series of discussion papers produced by the Bundesbank which was concemed with problems of measuring inflation in Gerrnany. This paper met with a lively response. The Research Group of the Bundesbank therefore staged a workshop on this subject at...
Persistent link: https://www.econbiz.de/10010478854