Narrow search
Showing 1 - 10 of 88
Cover Image
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
a special focus on persistence of real wages,wage and price inflation. The analysis is conducted within a structural …, as well as the cointegrating properties of theestimated system. Overall, in the long run, wage and price inflation emerge …
Persistent link: https://www.econbiz.de/10005866514
Cover Image
The demand for M3 in the euro area
Coenen, Günter; Vega, Juan Luis - European Central Bank - 1999
In this paper, an empirically stable money demand model for M3 in the euro area is constructed. Starting with a multivariate system, three cointegrating relationships with economic content are found: (i) the spread between the long- and the short-term nominal interest rates, (ii) the long-term...
Persistent link: https://www.econbiz.de/10005162897
Cover Image
DISAGREEMENT AMONG FORECASTERS IN G7 COUNTRIES
Dovern, Jonas; Fritsche, Ulrich; Slacalek, Jirka - European Central Bank - 2009
, consumption, investment and unemployment)has a distinct dynamic from disagreement about nominal variables(inflation and interest … series. Countryby-country regressions for inflation and interest... …
Persistent link: https://www.econbiz.de/10005866467
Cover Image
Forecasting the world economy in the short-term
Jakaitiene, Audrone; Dées, Stephane - European Central Bank - 2009
Forecasting the world economy is a di¢ cult task given the complex interre-lationships within and across countries. This paper proposes a number ofapproaches to forecast short-term changes in selected world economic vari-ables and aims, …rst, at ranking various forecasting methods in terms...
Persistent link: https://www.econbiz.de/10005866572
Cover Image
Inflation dynamics with labour market matching: assessing alternative specifications
Christoffel, Kai; Costain, James S.; De Walque, Gregory; … - European Central Bank - 2009
This paper reviews recent approaches to modeling the labour market and assessestheir implications for in‡ation dynamics through both their e¤ect on marginalcost and on price-setting behaviour. In a search and matching environment, weconsider the following modeling setups: right-to-manage...
Persistent link: https://www.econbiz.de/10005866597
Cover Image
Downward wage rigidity and optimal steady-state inflation
Fagan, Gabriel; Messina, Julián - European Central Bank - 2009
This paper examines the impact of downward wage rigidity (nominal and real) onoptimal steady-state inflation. For this … andFinland). The calibrated heterogeneous agent models are then solved for differentsteady state rates of inflation to derive …
Persistent link: https://www.econbiz.de/10005866626
Cover Image
A markup model of inflation for the euro area
Bowdler, Christopher; Jansen, Eilev S. - European Central Bank - 2004
Equilibrium correction models of the price level are often used to model inflation. Such models assume that the long …
Persistent link: https://www.econbiz.de/10005079101
Cover Image
Analysing and forecasting price dynamics across euro area countries and sectors: a panel VAR approach
Dées, Stéphane; Güntner, Jochen - European Central Bank - 2014
This paper uses a panel VAR (PVAR) approach to estimating, analysing, and forecasting price dynamics in four different sectors – industry, services, construction, and agriculture – across the four largest euro area economies – Germany, France, Italy and Spain – and the euro area as a...
Persistent link: https://www.econbiz.de/10011067209
Cover Image
Commodity prices, money and inflation
Browne, Frank; Cronin, David - European Central Bank - 2007
equilibrium values having explanatory power for subsequent consumer price inflation. JEL Classification: E310, E510, E520 …
Persistent link: https://www.econbiz.de/10005222385
Cover Image
Inflation Forecasts, monetary policy and unemployment dynamics: evidence from the US and the euro area
Altavilla, Carlo; Ciccarelli, Matteo - European Central Bank - 2007
This paper explores the role that inflation forecasts play in the uncertainty surrounding the estimated effects of … alternative monetary rules on unemployment dynamics in the euro area and the US. We use the inflation forecasts of 8 competing … relative to the different inflation models under two rules. The results suggest that model uncertainty can be a serious issue …
Persistent link: https://www.econbiz.de/10005816249