Similar Search Results

The Role of Wealth in the Economy: the 2002 Annual Meeting Papers of the Royal Netherlands Economic Association

Alessie, R.J.M.; Els, P.J.A. van; Hoogduin, L.H. - de Nederlandsche Bank - 2002

This study is an introduction to and summary of the 2002 Annual Meeting papers of the Royal Netherlands Economic Association. The general theme of this year's Annual Meeting is 'The role of wealth in the economy'. It is covered by 5 papers, which address the following topics: (i) household...

Persistent link: https://www.econbiz.de/10005021879

Wealth Effects and Monetary Policy

Arnold, I.; Els, P.J.A. van; Haan, J. de - de Nederlandsche Bank - 2002

indicators of real activity, while housing prices have predictive power for price indicators, and money and credit aggregates …

Persistent link: https://www.econbiz.de/10005106706

Housing and Equity Wealth Effects of Italian Households

Grant, Charles; Peltonen, Tuomas - de Nederlandsche Bank - 2005

The study quantifies stock market and housing market wealth effects on households' non-durable consumption using … market and housing market wealth effects on households' non-durable consumption using Italian household panel data (SHIW) of … insignificant housing wealth effects. However, we found homeowners' MPC out of housing wealth gains to be The study quantifies stock …

Persistent link: https://www.econbiz.de/10005021843

The Impact of Newspapers on Consumer Confidence: Does Spin Bias Exist?

Alsem, Karel-Jan; Brakman, Steven; Hoogduin, Lex; … - de Nederlandsche Bank - 2004

Mullainathan and Shleifer (2002) argue that there are two types of media bias. One bias, called ideology, reflects a news outlet's desire to affect reader opinions in a particular direction. The second bias, referred to as spin, reflects the outlet's attempt to simply create a memorable story....

Persistent link: https://www.econbiz.de/10004970700

Openness and the (inverted) aggregate demand logic

Boerma, Job - de Nederlandsche Bank - 2014

I build a small open economy version of the Calvo-type staggered price-setting model with limited asset market participation, and I show that the inverted aggregate demand logic is less likely to apply to small open economies. The equilibrium dynamics of the model are reduced to a representation...

Persistent link: https://www.econbiz.de/10010885308

Reforming the architecture of EMU: Ensuring stability in Europe

Haan, Jakob de; Hessel, Jeroen; Gilbert, Niels - de Nederlandsche Bank - 2014

This paper analyses the reforms in the architecture of EMU since the eruption of the euro crisis in 2010. We describe major weaknesses in the original set-up of EMU, such as lack of fiscal discipline, diverging financial cycles and competitiveness positions, and a lack of crisis instruments....

Persistent link: https://www.econbiz.de/10010945595

Loan loss provisioning, bank credit and the real economy

Pool, Sebastiaan; Haan, Leo de; Jacobs, Jan - de Nederlandsche Bank - 2014

This paper examines how credit risk affects bank lending and the business cycle. We estimate a panel Vector Autoregression model for an unbalanced sample of 12 OECD countries over the past two to three decades, consisting of the output gap, inflation, the short-term interest rate, bank lending,...

Persistent link: https://www.econbiz.de/10010945599

Low real rates as driver of secular stagnation: empirical assessment

End, Jan Willem van den; Hoeberichts, Marco - de Nederlandsche Bank - 2014

We empirically test whether there is a causal link between the real interest rate and the natural rate of interest, which could be a harbinger of secular stagnation if the real rate declines. Outcomes of VAR models for Japan, Germany and the US show that a fall in the real rate indeed affects...

Persistent link: https://www.econbiz.de/10010945601

Does the clarity of inflation reports affect volatility in financial markets?

Bulíř, Aleš; Číhak, Martin; Jansen, David-Jan - de Nederlandsche Bank - 2014

We study whether clarity of central bank inflation reports affects return volatility in financial markets. We measure clarity of reports by the Czech National Bank, the European Central Bank, the Bank of England, and Sveriges Riksbank using the Flesch-Kincaid grade level, a standard readability...

Persistent link: https://www.econbiz.de/10011004565

Adaptive learning and survey data

Markiewicz, Agnieszka; Pick, Andreas - de Nederlandsche Bank - 2014

This paper investigates the ability of the adaptive learning approach to replicate the expectations of professional forecasters. For a range of macroeconomic and financial variables, we compare constant and decreasing gain learning models to simple, yet powerful benchmark models. We find that...

Persistent link: https://www.econbiz.de/10011004569