Similar Search Results

Fair value accounting and financial stability

Enria, Andrea; Cappiello, Lorenzo; Dierick, Frank; … - European Central Bank - 2004

Accounting standard setters are considering the wider use of fair value accounting. This paper focuses on the financial stability implications of a move in the banking sector from the current accounting framework to full fair value accounting. A simulation exercise is performed on how various...

Persistent link: https://www.econbiz.de/10005530668

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

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

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

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

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

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

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

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

Exchange rate volatility and growth in small open economies at the EMU periphery

Schnabl, Gunther - European Central Bank - 2007

growing. The paper investigates the impact of exchange rate stability on growth for a sample of 41 mostly small open economies … important transmission channels from exchange rate stability to more growth. It is argued that fixed exchange rates provide a … accelerating growth. Panel estimations reveal a robust negative relationship between exchange rate volatility and growth for …

Persistent link: https://www.econbiz.de/10005344823