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Involuntary unemployment and the business cycle

Christiano, Lawrence; Trabandt, Mathias; Walentin, Karl - European Central Bank - 2010

integrate the model into a medium sized DSGE model with capital and show that the resulting model does as well as existing …

Persistent link: https://www.econbiz.de/10008587762

An Analysis of the Sectoral Balances in EY Countries.

Kennedy, N.O. - European Central Bank - 1996

This study addresses the issue of relations between the balances of individual sectors, applying standard statistical measures. A number of general observations were make. First, it is apparent that imbalances of the public, private and external sectors in most EU countries have tended to...

Persistent link: https://www.econbiz.de/10005486857

HOW ARE FIRMS’ WAGES AND PRICES LINKED SURVEY EVIDENCE IN EUROPE

Druant, Martine; Fabiani, Silvia; Kézdi, Gábor; Lamo, Ana - European Central Bank - 2009

This paper presents new evidence on the patterns of price and wage adjustment inEuropean firms and on the extent of nominal rigidities. It uses a unique dataset collectedthrough a firm-level survey conducted in a broad range of countries and covering varioussectors. Several conclusions are drawn...

Persistent link: https://www.econbiz.de/10005866453

optimal monetary Policy in a new keynesian model with habits in consumption

Leith, Campbell; Moldovan, Ioana; Rossi, Raffaele - European Central Bank - 2009

While consumption habits have been utilised as a means of generating a hump shapedoutput response to monetary policy shocks in sticky-price New Keynesian economies,there is relatively little analysis of the impact of habits (particularly, external habits) onoptimal policy. In this paper we...

Persistent link: https://www.econbiz.de/10005866485

Regulatory reforms in selected EU network industries

Martin, Reiner; Roma, Moreno; Vansteenkiste, Isabel - European Central Bank - 2005

In the course of the 1990s, the EU has embarked on an ambitious regulatory reform programme for a number of European network industries, such as telecommunications, energy and transport. This paper analyses the potential benefits of successful reforms in these sectors with a focus on the price...

Persistent link: https://www.econbiz.de/10005530655

Exchange rates and fundamentals: new evidence from real-time data

Ehrmann, Michael; Fratzscher, Marcel - European Central Bank - 2004

-time data. We find that such economic news in the United States, Germany and the euro area have indeed been a driving force … macroeconomic news is at least partly explained by their earlier release time compared to corresponding German and euro area news …. The exchange rate is also shown to respond more strongly to news in periods of large market uncertainty and when negative …

Persistent link: https://www.econbiz.de/10005070386

Equal size, equal role? Interdependence between the euro area and the United States

Ehrmann, Michael; Fratzscher, Marcel - European Central Bank - 2004

perspective of financial markets by analysing the effects of monetary policy announcements and macroeconomic news on daily … EMU. Second, beyond these general linkages, the paper finds that certain macroeconomic news about the US economy have a …. Finally, we show that US macroeconomic news have become good leading indicators for economic developments in the euro area …

Persistent link: https://www.econbiz.de/10005070391

Inflation perceptions and expectations in the euro area: the role of news

Badarinza, Cristian; Buchmann, Marco - European Central Bank - 2009

techniques. We find that the degree to which consumers’ expectations are discordant is negatively related to news intensity …. Moreover, the results suggest that the absolute bias in expectations decreases as news become more intense and this effect has …

Persistent link: https://www.econbiz.de/10005049560

Interdependence between the euro area and the US: what role for EMU?

Ehrmann, Michael; Fratzscher, Marcel - European Central Bank - 2002

markets by analysing the effects of monetary policy announcements and macroeconomic news on daily interest rates in the United …

Persistent link: https://www.econbiz.de/10005530902

Nowcasting

Bańbura, Marta; Giannone, Domenico; Reichlin, Lucrezia - European Central Bank - 2010

judgement, but it does it in a fully automatic way. In particular, it provides an explicit link between the news in consecutive …

Persistent link: https://www.econbiz.de/10008752568