Similar Search Results

Taylor rules and macroeconomic instability or how the Central Bank can pre-empt sunspot expectations

Weder, Mark (contributor) - 2003 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001917100

Heterogeneous time preferences and interest rates : the preferred habitat theory revisited

Riedel, Frank - 1999

Habitat Theory of Modigliani and Sutch, a model for intertemporal preferences accounting for preferred habitats is proposed …. In a heterogeneous world, preferred habitats can explain humps in the yield curve. Agents with a long habitat prefer long … term bonds to shorter instruments as the Preferred Habitat Theory predicts. …

Persistent link: https://www.econbiz.de/10009579171

Animal spirits, technology shocks and the business cycle

Weder, Mark - 1997

In this paper a two-sector growth model allowing indeterminacy to occur at relatively mild degrees of increasing returns is developed. It is shown that these economies of scale need only be present in one sector of the economy (investment). This feature of the model, therefore, builds on...

Persistent link: https://www.econbiz.de/10009659067

Stabilization policy and business cycle phases in Europe : a Markov Switching VAR analysis

Beine, Michel; Candelon, Bertrand; Sekkat, Khalid - 1999

Most of the empirical studies dealing with international business cycles have disregarded the credibility issues that play an important role in the decision to join or not a monetary union. Most of empirical applications based on asymmetric shocks have failed to account for these aspects. In...

Persistent link: https://www.econbiz.de/10009582416

The great demand depression

Weder, Mark - 2001

This paper entertains the notion that disturbances on the demand side play a central role in our understanding of the Great Depression. In fact, from Euler equation residuals we are able to identify a series of unusually large negative demand shocks that appeared to have hit the U. S. economy...

Persistent link: https://www.econbiz.de/10009614288

Fractional integration and business cycle features

Candelon, Bertrand; Gil-Alaña, Luis A. - 2001

We show in this article that fractionally integrated univariate models for GDP may lead to a better replication of business cycle characteristics. We firstly show that the business cycle features are clearly affected by the degree of integration as well as by the other short run components of...

Persistent link: https://www.econbiz.de/10009614295

Cyclical correlations, credit contagion, and portfolio losses

Giesecke, Kay (contributor); Weber, Stefan (contributor) - 2003 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001919109

Structural vector autoregressive models and monetary policy analysis

Holtemöller, Oliver - 2002

possibility is to adopt restrictions from economic theory. The purpose of this paper is to investigate the implications of the …

Persistent link: https://www.econbiz.de/10009620773

Was there a regime change in the German monetary transmission mechanism in 1983?

Candelon, Bertrand; Lütkepohl, Helmut - 2000

Recent investigations of the transmission mechanism of German monetary policy arrive at quite different conclusions regarding its stability during the period of monetary targeting by the Bundesbank. In this study small dynamic models for the monetary sector of the German economy are analyzed in...

Persistent link: https://www.econbiz.de/10009583433

Lag selection in subset VAR models with an application to a US monetary system

Brüggemann, Ralf; Lütkepohl, Helmut - 2000

Alternative modeling strategies for specifying subset VAR models are considered. It is shown that under certain conditions a testing procedure based on t-ratios is equivalent to sequentially eliminating lags that lead to the largest improvement in a prespecified model selection criterion. A...

Persistent link: https://www.econbiz.de/10009583885

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