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Backward-looking interest-rate rules, interest-rate smoothing, and macroeconomic instability
Benhabib, Jess (contributor);  … - 2003 - [Elektronische Ressource]
linking interest rates to forecasts of future inflation. Such rules have been found to give rise to aggregate fluctuations due … properties of interest-rate rules whereby the central bank responds to a measure of past inflation. The consensus view that has … inflation are likely to ensure global stability provided that the coefficient on lagged interest rates is greater than unity. …
Persistent link: https://www.econbiz.de/10001751344
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Auf schwankendem Grund
Hohlfeld, Peter; Horn, Gustav A.; Lindner, Fabian; … - 2012
Die Perspektiven für die deutsche Konjunktur haben sich eingetrübt. Für den Prognosezeitraum ist nur eine schwache konjunkturelle Entwicklung zu erwarten. Geringere Exporte in den Euroraum und eine abgeschwächte Dynamik der Weltkonjunktur und damit einhergehend eine geringe Expansion der...
Persistent link: https://www.econbiz.de/10009616467
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Fiscal pact deepens euro : area crisis joint analysis of the macro group
2012
price inflation will stand at 1.3 %, thereby remaining well below the target rate of the ECB. Simulations of the medium …
Persistent link: https://www.econbiz.de/10009565667
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Fiskalpakt belastet Euroraum : gemeinsame Diagnose des Makro-Konsortiums
2012
price inflation will stand at 1.3 %, thereby remaining well below the target rate of the ECB. Simulations of the medium …
Persistent link: https://www.econbiz.de/10009565673
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The euro area at the crossroads : first joint analysis of the Macro Group
2011
The German economy entered the year 2011 buoyantly. The upswing is expected to continue throughout 2011 with GDP increasing at an average rate of 2.7%. Both internal and external demand will drive the economy. In the course of the forecast horizon, however, economic activity will become less...
Persistent link: https://www.econbiz.de/10009565962
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Der Euroraum im Umbruch : erste gemeinsame Diagnose des Makro-Konsortiums
2011
Die wirtschaftliche Entwicklung in Deutschland ist mit hoher Dynamik in das Jahr 2011 gestartet. Vieles spricht derzeit dafür, dass das Jahr 2011 mit einer Zunahme des BIP von 2,7 % ein Jahr des Aufschwungs sein wird. Dabei wird sowohl die Binnen- als auch die Auslandsnachfrage die Konjunktur...
Persistent link: https://www.econbiz.de/10009565963
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The role of permanent and transitory components in business cycle volatility moderation
Korenok, Oleg (contributor);  … - 2004 - [Elektronische Ressource]
The paper examines the processes underlying economic fluctuations by investigating the volatility moderation of U.S. economy in the early 1980's. We decompose the volatility decline using a dynamic factor framework into a common stochastic trend, common transitory component and idiosyncratic...
Persistent link: https://www.econbiz.de/10002102020
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The volume of federal litigation and the macroeconomy
Bachmeier, Lance J. (contributor);  … - 2003 - [Elektronische Ressource], Rev
of federal litigation cases. In particular, the impact of aggregate U.S. GDP, consumption, inflation, unemployment, and … output, consumption and inflation to the total volume of federal litigation, so that predictions of future litigation volume … analysis, it is seen that shocks to income, consumption and inflation immediately lead to an increase in the volume of …
Persistent link: https://www.econbiz.de/10001848953
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Jobless recovering and equilibrium involuntary unemployment with a simple efficiency wage model
Ma, Jinpeng (contributor) - 2004 - [Elektronische Ressource]. - Rev
The U.S. economy had experienced the "jobless recovering" after the 1990-1991 and 2001 recessions, which has been constantly puzzling the economists, market analysts, and policymakers. This paper uses a simple hiring game in an efficiency wage model framework to resolve that puzzle. Our...
Persistent link: https://www.econbiz.de/10001934418
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The microeconomics of macroeconomic asymmetric sectoral evidence
Korenok, Oleg (contributor);  … - 2004 - [Elektronische Ressource]
There is now considerable evidence that business cycle variation in output and employment in the U.S. diÞers in expansions and contractions. We present nonparametric evidence that asymmetries are strongest in durable goods manufacturing. In a Markov switching framework, we find two leading...
Persistent link: https://www.econbiz.de/10001934438