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Nowcasting GDP and inflation: the real-time informational content of macroeconomic data releases

Giannone, Domenico; Reichlin, Lucrezia; Small, David H. - European Central Bank - 2006

evaluated by computing "news" on the basis of an evolving conditioning information set. The marginal contribution is then split …

Persistent link: https://www.econbiz.de/10005816232

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

News and policy foresight in a macro-finance model of the US

Badarinza, Cristian; Margaritov, Emil - European Central Bank - 2011

-scale DSGE model for the US economy. We consider news about total factor productivity and investment-specific technology, as well … role played by productivity news in this class of models. In contrast, we uncover a non-trivial role for investment …-specific news and anticipated monetary policy shocks not only in the historical and variance decomposition of real economic …

Persistent link: https://www.econbiz.de/10008876539

The financial and macroeconomic effects of OMT announcements

Altavilla, Carlo; Giannone, Domenico; Lenza, Michele - European Central Bank - 2014

This study evaluates the macroeconomic effects of Outright Monetary Transaction (OMT) announcements by the European Central Bank (ECB). Using high-frequency data, we find that OMT announcements decreased the Italian and Spanish 2-year government bond yields by about 2 percentage points, while...

Persistent link: https://www.econbiz.de/10011067271

The stock market reaction to the 2005 non-tradable share reform in China

Beltratti, Andrea; Bortolotti, Bernardo; Caccavaio, Marianna - European Central Bank - 2011

During 2005-2006, the Chinese government implemented a reform aimed at eliminating the so-called non-tradable shares (NTS), shares typically held by the State or by politically connected institutional investors that were issued at the early stage of financial market development. Our analysis,...

Persistent link: https://www.econbiz.de/10009021594

On the measurement of foreign direct investment and its relationship to activities of multinational corporations

Wacker, Konstantin M. - European Central Bank - 2013

This paper discusses the different concepts of measuring multinational corporations' activities to provide empirical researchers helpful guidelines about which measures to use in their work. I discuss which economic relations exist between the measures and show that a tight relationship can be...

Persistent link: https://www.econbiz.de/10010717714