Showing 1 - 4 of 4
The natural interest rate is of great relevance to central banks, but it is difficult to measure. We show that in a standard microfounded monetary model, the natural interest rate co-moves with a transformation of the money demand that can be computed from actual data. The co-movement is of a...
Persistent link: https://www.econbiz.de/10009650625
Monetary policy in the euro area is conducted within a multicountry, multicultural, and multilingual context involving multiple central banking traditions. How does this heterogeneity affect the ability of economic agents to understand and to anticipate monetary policy by the European Central...
Persistent link: https://www.econbiz.de/10005825754
the role of financial constraints; and (ii) we develop a methodology that corrects for the misspecification problems of …
Persistent link: https://www.econbiz.de/10004999959
performance in Europe. Using a panel of EU15 countries for the period 1995-2011, we estimate three econometric models and ask the … evidence of spending duplication?; and (3) are soft budget constraints prevalent at the subnational level in Europe? Our …
Persistent link: https://www.econbiz.de/10010790279