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Persistent link: https://www.econbiz.de/10009578563
To assess the predictive content of the interest rate term spread for future economic growth, we distinguish short-run from long-run predictability by using two different approaches. First, following Dufour and Renault (1998) a test procedure is proposed to test for causality at different...
Persistent link: https://www.econbiz.de/10009617950
in Germany in the period of monetary targeting from 1975 to 1998 is estimated. The implications of the theoretical model …. -- monetary policy ; Endogenous money ; industrial organization approach to banking theory ; money multiplier ; vector error …
Persistent link: https://www.econbiz.de/10009620766
monthly data on appraisals and prices for commercial apartment houses in Berlin, Germany from 1980 to 2000. The appraisals are …
Persistent link: https://www.econbiz.de/10009625798
Multivariate Volatility Models belong to the class of nonlinear models for financial data. Here we want to focus on multivariate GARCH models. These models assume that the variance of the innovation distribution follows a time dependent process conditional on information which is generated by...
Persistent link: https://www.econbiz.de/10009615423
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
Persistent link: https://www.econbiz.de/10001916784
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certain tax class, the estimation of tax-specific term structures, and the identification of representative investors … estimation of the term structure from coupon bond prices and the valuation of interest rate derivatives. -- linear programming … ; duality theory ; term structure of interest rates ; smoothing splines ; tax clientele ; arbitrage bounds …
Persistent link: https://www.econbiz.de/10009574878
East-West migration in Germany peaked at the beginning of the 90s although the average wage gap between Eastern and … Western Germany continues to average about 25%. We analyze the propensity to migrate using microdata from the German … compatible with classical Marshallian theory of migration and motivates the semiparametric analysis. We estimate a Generalized …
Persistent link: https://www.econbiz.de/10009574896