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out to test whether the long-run export behaviour of intra and extra exports has changed since the 1990s. Finally … German exports to shift since the 1990s is addressed by estimating Germany's exports to EMU partner countries (intra exports …) and to countries outside the euro area (extra exports). Analytically, this is done first by estimating single …
Persistent link: https://www.econbiz.de/10012991196
This paper investigates the transmission of monetary policy in the euro area based on the factor augmented vector autoregressive approach of Bernanke, Boivin and Eliasz (2005) as well as on a standard VAR model. We focus on the reaction of monetary aggregates to a one-off monetary policy shock....
Persistent link: https://www.econbiz.de/10012991032
This paper examines the relation between money and housing variables in the euro area and in the US. Our empirical model is based on a standard money demand relation which is augmented by housing market variables. In doing so, co-integrated money demand relationships can be established for both...
Persistent link: https://www.econbiz.de/10012991143
A joint model of macroeconomic and term structure dynamics is specified and estimated for the euro area. The model comprises a backward-looking Phillips curve, a dynamic IS equation, a monetary policy rule as well as a specification of the dynamics of trend growth and the natural real interest...
Persistent link: https://www.econbiz.de/10012991145
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? The underlying idea is that unemployment hysteresis may operate through a sociological channel: if many people in the …
Persistent link: https://www.econbiz.de/10009269257
This paper analyzes the mobility between self-employment, wage employment and non-employment. Using data for men in West Germany, we find strong true state dependence in all three states. Moreover, compared to wage employment, non-employment increases the probability of self-employment...
Persistent link: https://www.econbiz.de/10011634163