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Asymmetric monetary policy rules for the euro area and the US
Maih, Junior; Mazelis, Falk; Motto, Roberto; … - 2021
We analyse the implications of asymmetric monetary policy rules by estimating Markovswitching DSGE models for the euro area (EA) and the US. The estimations show that until mid-2014 the ECB's response to in ation was more forceful when in ation was above 2% than below 2%. Since then, the ECB's...
Persistent link: https://www.econbiz.de/10012617047
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Introducing dominant currency pricing in the ECB's global macroeconomic model
Georgiadis, Georgios; Mösle, Saskia - 2019
importer's currency has important implications for the transmission of shocks. We introduce this "dominant currency pricing … a non-US economy that alters the value of its currency multilaterally, expenditure-switching occurs only through imports … dominant currency in global trade. According to ECB-Global, in such a scenario the global spillovers from US shocks are smaller …
Persistent link: https://www.econbiz.de/10012107938
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Monetary policy rules in theory and in practice : evidence from the UK and the US
Paez-Farrell, Juan - In: Applied economics 41 (2009) 16/18, pp. 2037-2046
Persistent link: https://www.econbiz.de/10003882969
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Why has wage inequality increased more in the USA than in Europe? : An empirical investigation of the demand and supply of skill
Fernández-Kranz, Daniel - In: Applied economics 38 (2006) 7, pp. 771-788
Persistent link: https://www.econbiz.de/10003324835
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An application of maximum entropy estimation : the demand for meat in the United Kingdom
Fraser, Iain M. - In: Applied economics 32 (2000) 1, pp. 45-59
Persistent link: https://www.econbiz.de/10001466814
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Price level changes and the redistribution of nominal wealth across the euro area
Adam, Klaus; Zhu, Junyi - 2015
Persistent link: https://www.econbiz.de/10011349803
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Has the euro affected the choice of invoicing currency?
Ligthart, Jenny E.; Werner, Sebastian E. V. - 2012
Persistent link: https://www.econbiz.de/10009765245
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Assessing inflation expectations anchoring for heterogeneous agents : analysts, businesses and trade unions
Miyajima, Ken; Yetman, James - In: Applied economics 51 (2019) 41, pp. 4499-4515
Persistent link: https://www.econbiz.de/10012197032
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International evidence on sticky consumption growth
Carroll, Chris (contributor); Slacalek, Jirka (contributor);  … - 2008
We estimate the degree of "stickiness" in aggregate consumption growth (sometimes interpreted as reflecting consumption habits) for thirteen advanced economies. We find that, after controlling for measurement error, consumption growth has a high degree of autocorrelation, with a stickiness...
Persistent link: https://www.econbiz.de/10003778438
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The behaviour of the real exchange rate : evidence from regression quantiles
Nikolaou, Kleopatra (contributor) - 2006
We test for mean reversion in real exchange rates using a recently developed unit root test for non-normal processes based on quantile autoregression inference in semi-parametric and non-parametric settings. The quantile regression approach allows us to directly capture the impact of different...
Persistent link: https://www.econbiz.de/10003358655