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Can non-linear real shocks explain the persistence of PPP exchange rate disequilibria?

Peltonen, Tuomas A.; Popescu, Adina; Sager, Michael - European Central Bank - 2009

. By contrast, we combine these two explanations in the context of an innovativepanel estimation methodology.. …

Persistent link: https://www.econbiz.de/10005866489

Does it pay to have the euro? Italy’s politics and financial markets under the lira and the euro

Fratzscher, Marcel; Stracca, Livio - European Central Bank - 2009

There is a broad consensus that the quality of the political system and its institutionsare fundamental for a country’s prosperity. The paper focuses on political events inItaly over the past 35 years and asks whether the adoption of the euro in 1999 hashelped insulate Italy’s financial...

Persistent link: https://www.econbiz.de/10005866519

What explains global exchange rate movements during the financial crisis?

Fratzscher, Marcel - European Central Bank - 2009

A striking and unexpected feature of the financial crisis has been the sharpappreciation of the US dollar against virtually all currencies globally. The paper findsthat negative US-specific macroeconomic shocks during the crisis have triggered asignificant strengthening of the US dollar, rather...

Persistent link: https://www.econbiz.de/10005866568

Productivity shocks and real exchange rate: a reappraisal

Peltonen, Tuomas A.; Sager, Michael - European Central Bank - 2009

We reappraise the relationship between productivity and equilibrium real exchangerates using a panel estimation …

Persistent link: https://www.econbiz.de/10005866628

The forecasting power of internal yield curve linkages

Modugno, Michele; Nikolaou, Kleopatra - European Central Bank - 2009

This paper investigates whether information from foreign yield curves helps forecast domestic yieldcurves out-of-sample. A nested methodology to forecast yield curves in domestic and internationalsettings is applied on three major countries (the US, Germany and the UK). This novel methodologyis...

Persistent link: https://www.econbiz.de/10005866630

Issues in the ECU Markets and Some Tentative Explanations fro Some Apparent Puzzles.

Fell, J.P.C.; Levy, A. - European Central Bank - 1996

This study focuses on longer term influences and provides some potential explanations in ECU markets which were regarder by some financial market participants as puzzles.

Persistent link: https://www.econbiz.de/10005486856

Quantitative goals for monetary policy

Fatás, Antonio; Mihov, Ilian; Rose, Andrew K. - European Central Bank - 2006

. Quantitative goals take three forms: exchange rates, money growth rates, and inflation targets. We analyze the effects on inflation … determinants of inflation (such as fiscal policy, the business cycle, and openness to international trade), and the endogeneity of … systematically and robustly associated with lower inflation. The exact form of the monetary target matters somewhat (especially for …

Persistent link: https://www.econbiz.de/10005344838

Eigenvalue filtering in VAR models with application to the Czech business cycle

Beneš, Jaromír; Vávra, David - European Central Bank - 2005

model of inflation determination estimated on the Czech data.We characterize the estimated components of CPI, WPI and import …

Persistent link: https://www.econbiz.de/10005162924

Do China and oil exporters influence major currency configurations?

Fratzscher, Marcel; Mehl, Arnaud - European Central Bank - 2008

This paper analyses the impact of the shift away from a US dollar focus of systemically important emerging market economies (EMEs) on configurations between the US dollar, the euro and the yen. Given the difficulty that fixed or managed US dollar exchange rate regimes remain pervasive and...

Persistent link: https://www.econbiz.de/10005344843

Exchange rate pass-through in the global economy: the role of emerging market economies

Bussière, Matthieu; Peltonen, Tuomas A. - European Central Bank - 2008

This paper estimates export and import price equations for 41 countries –including 28 emerging market economies. Further, it relates the estimated elasticities to structural factors and tests for statistical breaks in the relation between trade prices and exchange rates. Results indicate that...

Persistent link: https://www.econbiz.de/10005344913

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