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How do inflation expectations form? New insights from a high-frequency survey

Galati, Gabriele; Heemeijer, Peter; Moessner, Richhild - de Nederlandsche Bank - 2011

We provide new insights on the formation of inflation expectations - in particular at a time of great financial and economic turmoil - by evaluating results from a survey conducted from July 2009 through July 2010. Participants in this survey answered a weekly questionnaire about their short-,...

Persistent link: https://www.econbiz.de/10008861749

Nominal wage contracts, adjustment costs and real persistence of monetary shocks

Folkertsma, C.K. - de Nederlandsche Bank - 1998

This paper describes a model in which monetary shocks have persistent real effects. Starting from the limited participation model of Christiano (1991) with capital adjustment costs as suggested by Dow (1995) it is confirmed that costs of equipment installation and restrictions on consumer...

Persistent link: https://www.econbiz.de/10005021869

A taylor rule for the euro area based on quasi-real time data

Adema, Y. - de Nederlandsche Bank - 2003

One of the main criticisms on the original Taylor rule is the so-called real time critique; because data on especially … the output gap are only available after some quarters the original Taylor rule is not operational. Moreover, Taylor rules … develop a modified Taylor rule based on (quasi-)real time data for the euro area. We find that modified Taylor rules based on …

Persistent link: https://www.econbiz.de/10005021873

A Taylor Rule for the Euro Area Based on Quasi-Real Time Data

Adema, Yvonne - de Nederlandsche Bank - 2004

Persistent link: https://www.econbiz.de/10005030260

Bank Profitability during Recessions

Bolt, Wilko; Haan, Leo de; Hoeberichts, Marco; Oordt, … - de Nederlandsche Bank - 2010

This paper estimates the relation between bank profitability and economic downturns using a theoretical model that takes into account the bank's lending history as well as amortization and losses on outstanding loans. We focus on total bank profits and its components: net interest income, other...

Persistent link: https://www.econbiz.de/10008455651

Is bank capital procyclical? A cross-country analysis

Bikker, Jaap; Metzemakers, Paul - de Nederlandsche Bank - 2004

This paper investigates the determinants of commercial banks' own internal capital targets and potential sensitivity of these levels to the business cycle . World-wide results make clear that banks' own risk is only slightly dependent on the business cycle. Banks tend to hold substantial capital...

Persistent link: https://www.econbiz.de/10004970701

Financial Acceleration of Booms and Busts

Kakes, Jan; Ullersma, Cees - de Nederlandsche Bank - 2005

For a panel of 20 industrialized countries from 1970 through 2002,we analyze the role of financial variables in economic cycles. We focus on equity busts, which are considered a proxy for downward revisions of economic prospects. Our empirical findings provide support for financial accelerator...

Persistent link: https://www.econbiz.de/10005106648

Forecasting Dutch GDP using Large Scale Factor Models

Reijer, Ard H.J. den - de Nederlandsche Bank - 2005

This paper applies large scale factor models to Dutch quarterly data in order to generate forecasts of GDP growth rates for an horizon up to 8 quarters ahead. The data set consists of the series underlying the cen- tral bank´s macroeconomic structural model for the Netherlands sup- plemented...

Persistent link: https://www.econbiz.de/10005106681

International Rent Sharing and Domestic Labour Markets: A Macroeconomic Analysis

Jansen, W. Jos; Stokman, Ad C.J. - de Nederlandsche Bank - 2003

Foreign subsidiaries account for a significant part of output in many industrialised countries. Compared to international trade relations, however, relatively little is known about the role foreign direct investment linkages play in the transmission of disturbances from one country to the next....

Persistent link: https://www.econbiz.de/10005106749

Foreign Direct Investment and International Business Cycle Comovement

Jansen, W. Jos; Stokman, Ad C.J. - de Nederlandsche Bank - 2003

This paper investigates the relationship between bilateral FDI positions and cross-country business cycle correlations in the period 1982-2001. We find that countries that have comparatively intensive FDI relations also have more synchronized business cycles during 1995-2001. Before 1995, we...

Persistent link: https://www.econbiz.de/10005106753