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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 …
Persistent link: https://www.econbiz.de/10005866467
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Money Demand in EU Countries : A Survey.
Browne, F.X.; Fagan, G.; Henry, J. - European Central Bank - 1997
Money demand is probably one of the most extensively studies economic relationships in applied economics. While useful surveys of existing literature are available, much of the attention ahes focused on the United States. However, a considerable number of papers have recently been produced...
Persistent link: https://www.econbiz.de/10005671625
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Open Market Operations in EU Countries.
Aspetsberger, A. - European Central Bank - 1996
The increasing weight of open market transactions in central bank operations and the widening use of purchase agreements underlines a progress towards convergence of monetary policy instruments and procedures in EU countries. This paper presents a survey of features of open market operations...
Persistent link: https://www.econbiz.de/10005641236
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Empirical assessment of Monetary Policy Instruments and Procedures (MPIP) in EU Countries.
Escriva, J.L.; Fagan, F.P. - European Central Bank - 1996
This paper provides empirical evidence on the use of monetary policy instruments and procedures (MPIP) in EU countries. In particular, it focuses on three important issues which arise in this context. Fist, we examine the structural position of the EU money markets. Second , evidence is...
Persistent link: https://www.econbiz.de/10005641237
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Investment, the cost of capital, and monetary policy in the nineties in France: a panel data investigation
Chatelain, Jean-Bernard; Tiomo, André - European Central Bank - 2001
investment from 1990 to 1999 through the cost-of-capital and the cash-flow channels. We compare several specifications of neo …
Persistent link: https://www.econbiz.de/10005344839
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The role of financial variables in predicting economic activity
Espinoza, Raphael; Fornari, Fabio; Lombardi, Marco J. - European Central Bank - 2009
help predicting euro area GDP. We investigate whether financial variables provide additional predictive power. We use a VAR … between 1999 and 2002. Results from the historical decomposition of a VAR model indeed suggest that in that period shocks were …
Persistent link: https://www.econbiz.de/10008458416
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Infinite-dimensional VARs and factor models
Chudik, Alexander; Pesaran, Hashem - European Central Bank - 2009
dynamic systems. Restrictions on the coefficients of an unrestricted VAR are proposed that are binding only in a limit as the … number of endogenous variables tends to infinity. It is shown that under such restrictions, an infinite-dimensional VAR (or … IVAR) can be arbitrarily well characterized by a large number of finite-dimensional models in the spirit of the global VAR …
Persistent link: https://www.econbiz.de/10004969163
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The economic effects of exogenous fiscal shocks in Spain: a SVAR approach
de Castro Fernández, Francisco; Hernández de Cos, Pablo - European Central Bank - 2006
This paper estimates the effects of exogenous fiscal policy shocks in Spain in a VAR framework. Government expenditure …
Persistent link: https://www.econbiz.de/10005530742
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Forecasting economic aggregates by disaggregates
Hendry, David F.; Hubrich, Kirstin - European Central Bank - 2006
We suggest an alternative use of disaggregate information to forecast the aggregate variable of interest, that is to include disaggregate information or disaggregate variables in the aggregate model as opposed to first forecasting the disaggregate variables separately and then aggregating those...
Persistent link: https://www.econbiz.de/10005530754
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A global perspective on inflation and propagation channels
Gattini, Luca; Pill, Huw; Schuknecht, Ludger - European Central Bank - 2012
the basis of a VAR analysis, the study finds that i) global money demand shocks affect global inflation and also global …
Persistent link: https://www.econbiz.de/10010686790