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Transmission of global financial shocks to EMU member states : the role of monetary policy and national factors
Gelman, Maria; Jochem, Axel; Reitz, Stefan - 2016
commercial banks to the Eurosystem's open market operations in conjunction with the redistribution of liquidity via the TARGET …
Persistent link: https://www.econbiz.de/10011495568
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Portfolio Holdings in the Euro Area - Home Bias and the Role of International, Domestic and Sector-Specific Factors
Jochem, Axel - 2016
the euro and especially during the financial turbulence of the past years. We find that, besides exchange rate volatility …
Persistent link: https://www.econbiz.de/10012991045
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Determinants of Current Account Developments in the Central and East European EU Member States - Consequences for the Enlargement of the Euro Area
Herrmann, Sabine - 2016
rate adjustments that should be reduced before entering the euro area …
Persistent link: https://www.econbiz.de/10012991207
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Integration of Financial Markets and National Price Levels : The Role of Exchange Rate Volatility
Hoffmann, Mathias - 2016
How does international financial integration affect national price levels? To analyze this question, this paper formulates a two-country open economy sticky-price model under either segmented or complete asset markets. It is shown that the effect of financial integration, i.e. moving from...
Persistent link: https://www.econbiz.de/10012991245
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Would households understand average inflation targeting?
Hoffmann, Mathias; Pavlova, Lora; Mönch, Emanuel; … - 2022
Yes, they would. In a randomized control trial, we provide groups of respondents from the Bundesbank Online Panel Households with information about a hypothetical alternative ECB monetary policy regime akin to the Federal Reserve’s flexible average inflation targeting (AIT). Inflation...
Persistent link: https://www.econbiz.de/10013205445
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Current account adjustment in EU countries : does euro-area membership make a difference?
Herrmann, Sabine; Jochem, Axel - 2013
The paper evaluates current account dynamics in countries with different exchange rate regimes within the EU. In this, the empirical analysis explicitly differentiates between countries with a flexible and a fixed exchange rate regime and members of a monetary union. In addition, we model the...
Persistent link: https://www.econbiz.de/10010211960
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Channels of risk sharing in the eurozone : what can banking and capital market union achieve?
Hoffmann, Mathias; Maslov, Egor; Sørensen, Bent E.; … - In: IMF economic review 67 (2019) 3, pp. 443-495
Persistent link: https://www.econbiz.de/10012241630
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Rebalancing the euro area : is wage adjustment in Germany the answer?
Hoffmann, Mathias; Kliem, Martin; Krause, Michael; … - 2020
We assess to what extent wage inflation policies in Germany could contribute to an economic rebalancing in the euro … and output in Germany and the rest of the euro area. The duration of constant interest rates and expectations about the … consists of Germany, the rest of the euro area, and the rest of the world. …
Persistent link: https://www.econbiz.de/10012184056