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Persistence, the transmission mechanism and robust monetary policy
Angeloni, Ignazio; Coenen, Günter; Smets, Frank - European Central Bank - 2003
In this paper we first explore the impact of nominal and real persistence on the transmission process of various shocks … performance of various monetary policies when the policy maker is uncertain about the degree of nominal and real persistence. JEL …
Persistent link: https://www.econbiz.de/10005344927
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Price and wage formation in Portugal
Robalo Marques, Carlos; Martins, Fernando; Portugal, Pedro - European Central Bank - 2010
This paper brings together empirical research on price and wage dynamics for the Portuguese economy based both on micro and macro data. As regards firms' pricing behaviour the most noticeable finding is that prices in Portugal are somewhat less flexible than in the United States but more...
Persistent link: https://www.econbiz.de/10008597019
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The dynamic effects of shocks to wages and prices in the United States and the euro area
Duarte, Rita; Marques, Carlos Robalo - European Central Bank - 2009
) with a special focus on persistence of real wages, wage and price inflation. The analysis is conducted within a structural …
Persistent link: https://www.econbiz.de/10005002775
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Inflation persistence during periods of structural change: an assessment using Greek data
Hondroyiannis, George; Lazaretou, Sophia - European Central Bank - 2004
The paper estimates inflation persistence in Greece from 1975 to 2003, a period of high variation in inflation and … coefficient (RC) modelling, are employed to estimate inflation persistence. The empirical results from all the procedures suggest … that inflation persistence was high during the inflationary period and the first six years of the disinflationary period …
Persistent link: https://www.econbiz.de/10005004539
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Persistence and nominal inertia in a generalized Taylor economy: how longer contracts dominate shorter contracts
Dixon, Huw; Kara, Engin - European Central Bank - 2005
In this paper we develop the Generalized Taylor Economy (GTE) in which there are many sectors with overlapping contracts of different lengths. In economies with the same average contract length, monetary shocks will be more persistent when longer contracts are present. We are able to solve the...
Persistent link: https://www.econbiz.de/10005162898
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Understanding inflation persistence: a comparison of different models
Dixon, Huw; Kara, Engin - European Central Bank - 2006
This paper adopts the Impulse-Response methodology to understand inflation persistence. It has often been argued that … existing models of pricing fail to explain the persistence that we observe. We adopt a common general framework which allows … persistence than indexation. JEL Classification: E17, E3 …
Persistent link: https://www.econbiz.de/10005530698
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Wage and price dynamics in Portugal
Robalo Marques, Carlos - European Central Bank - 2008
This paper investigates the persistence of aggregate wages and prices in Portugal assuming a model of a unionized …
Persistent link: https://www.econbiz.de/10005530898
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History, gravity and international finance
Eichengreen, Barry; Mehl, Arnaud; Chiţu, Livia - European Central Bank - 2012
We analyze persistence in patterns of bilateral financial investment using data on US investors’ holdings of foreign …
Persistent link: https://www.econbiz.de/10010686794