Similar Search Results

Economically rational expectations theory: evidence from the WTI oil price survey data

Prat, Georges; Uctum, Remzi - HAL - 2006

In the light of the economically rational expectation theory, this article shows how an expert chooses an optimal oil price forecast function given that information is costly. In this framework we propose an expectational process which nests all processes considered in the literature. By...

Persistent link: https://www.econbiz.de/10008789498

Vulnerabilities in Central and Eastern European countries: Dynamics of asymmetric shocks

Zdzienicka-Durand, Aleksandra - HAL - 2009

In this work, we use the VAR and space-state methodology to analyze how the recent developments in 20 European countries have modified the dynamics of structural shocks. Our results confirm a visible progress in (predominated output fluctuations) supply shocks convergence between the CEECs and...

Persistent link: https://www.econbiz.de/10008791757

Monetary Policy Switching in the Euro Area and Multiple Equilibria: An Empirical Investigation

Dufrénot, Gilles; Khayat, Anwar - HAL - 2014

This paper provides evidence that the European Central Bank (ECB) has adjusted its interest rate since 1999 nonlinearly according to the macroeconomic and financial environment in the euro zone. Its policy function is described by a Taylor rule with regime shifts implying that the stance of...

Persistent link: https://www.econbiz.de/10010933828

The role of money and monetary policy in crisis periods: the Euro area case

Benchimol, Jonathan; Fourçans, André - HAL - 2012

In this paper, we test two models of the Eurozone, with a special emphasis on the role of money and monetary policy …

Persistent link: https://www.econbiz.de/10009651555

Is this all "Greek" in Europe ? Critical evaluation of the Euro zone policy response to debt crises

Ghani, Shazia - HAL - 2011

Eurozone is going though the worst ever crises since the adoption of the common currency in 1999. In the aftermath of …

Persistent link: https://www.econbiz.de/10009368002

Business surveys modelling with Seasonal-Cyclical Long Memory models

Ferrara, Laurent; Guegan, Dominique - HAL - 2008

Business surveys are an important element in the analysis of the short-term economic situation because of the timeliness and nature of the information they convey. Especially, surveys are often involved in econometric models in order to provide an early assessment of the current state of the...

Persistent link: https://www.econbiz.de/10010750631

Monetary policy transmission in the euro area: New evidence from micro data on firms and banks

Chatelain, Jean-Bernard; Generale, Andrea; Vermeulen, Philip - HAL - 2003

This paper presents an overview of the results of a research project on monetary transmission pursued by the Eurosystem, which has analysed micro data on firms and banks in several countries of the euro area in great detail. There is strong empirical support for an interest rate channel working...

Persistent link: https://www.econbiz.de/10010750800

Indebtedness and macroeconomic imbalances in a monetary-union DSGE model

Badarau, Florina-Cristina; Huart, Florence; Sangaré, … - HAL - 2013

We build a two-country open-economy monetary union DSGE model in order to explain some macroeconomic imbalances in the euro area. We fo cus on the role of cyclic al behaviour of public spending and sovereign risk premium. Pro-cyclical primary public expenditures in one country do not lead to...

Persistent link: https://www.econbiz.de/10010899832

Assessing the Effects of Financial Heterogeneity in a Monetary Union : A DSGE Approach

Badarau, Florina-Cristina; Levieuge, Grégory - HAL - 2011

capital channel. The model allows us to demonstrate how a given symmetric shock causes cyclical divergences inside a …

Persistent link: https://www.econbiz.de/10010899901

Risk Aversion in the Euro area

Benchimol, Jonathan - HAL - 2012

We propose a New Keynesian Dynamic Stochastic General Equilibrium (DSGE) model where a risk aversion shock enters a … parameters (such as the risk aversion parameter), the Taylor rule coefficients and the role of this risk aversion shock on output … and real money balances in the Eurozone. Our analysis suggests that risk aversion was a more important component of output …

Persistent link: https://www.econbiz.de/10010635160