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Price dispersion in the Euro Area : the case of a symmetric oil price shock

Carstensen, Kai; Hülsewig, Oliver; Wollmershäuser, Timo - 2009

This paper studies the causes of price dispersion in the euro area emerging in response to a shock that hits all member countries symmetrically. We use a panel VAR model which is estimated over the period 1996 - 2007 to generate impulse responses of a range of price and wage variables to an oil...

Persistent link: https://www.econbiz.de/10003871916

Monetary policy transmission and house prices : European cross-country evidence

Carstensen, Kai; Hülsewig, Oliver; Wollmershäuser, Timo - 2009

This paper explores the importance of housing and mortgage market heterogeneity in 12 European countries for the transmission of monetary policy. We use a panel VAR model which is estimated over the period 19952006 to generate impulse responses of key macroeconomic variables to a monetary policy...

Persistent link: https://www.econbiz.de/10003872444

The price puzzle revisited : can the cost channel explain a rise in inflation after a monetary policy shock?

Henzel, Steffen; Hülsewig, Oliver; Mayer, Eric; … - 2007

Persistent link: https://www.econbiz.de/10003499532

The positive border effect of EU integration

Brakman, Steven; Garretsen, Harry; Marrewijk, Charles van; … - 2011

, regions, or countries. The enlargement of the EU or the introduction of the euro, however, can be looked upon as integration … that go along with EU integration along the border. Both at the urban and regional level, we find a beneficial influence of … the EU integration process as measured by the growth in population share along the integration borders, leading to an …

Persistent link: https://www.econbiz.de/10009009598

Self-fulfilling crises in the Eurozone : an empirical test

De Grauwe, Paul; Ji, Yuemei - 2012

Persistent link: https://www.econbiz.de/10009575314

Smells like fiscal policy? : assessing the potential effectiveness of the ECB's OMT program

Hristov, Nikolay; Hülsewig, Oliver; Siemsen, Thomas; … - 2014

This paper explores the potential effectiveness of the ECBś Outright Monetary Transaction (OMT) program in safeguarding an appropriate monetary policy transmission. Since the program aims at manipulating bank lending rates by conducting sovereign bond purchases on secondary markets, a stable...

Persistent link: https://www.econbiz.de/10010246072

What's in a second opinion? : shadowing the ECB and the Bank of England

Neuenkirch, Matthias; Siklos, Pierre L. - 2013

Persistent link: https://www.econbiz.de/10009788857

The crisis and regional resilience in Europe : on the importance of urbanization and specialization

Steven, Brakman; Garretsen, Harry; Marrewijk, Charles van - 2014 - This version:, March 2014

Using a rich data set on the EU regions, we analyze the relevance of two possible determinants of a region's resilience … that started in 2008, as our shock and then analyze how the NUTS II EU regions differ in their resilience to the crisis in … terms of unemployment and real GDP per capita. In prior research it has been well established that (EU) regions differ in …

Persistent link: https://www.econbiz.de/10010337597

The interest rate pass-through in the Euro area during the global financial crisis : conference paper

Hristov, Nikolay; Hülsewig, Oliver; Wollmershäuser, Timo - 2013

This paper uses panel vector autoregressive models and simulations of an estimated DSGE model to explore the reaction of Euro area banks to the global financial crisis. We focus on their interest rate setting behavior in response to standard macroeconomic shocks. Our main empirical finding is...

Persistent link: https://www.econbiz.de/10010338974

Monetary policy in EMU when the transmission is asymmetric and uncertain

De Grauwe, Paul; Sénégas, Marc-Alexandre - 2003

In this paper we address the issue of how transmission uncertainty could affect the choice between a federal monetary policy based on national data and one on aggregated data.We find that the uncertainty about the transmission process increases the need to take into account information about...

Persistent link: https://www.econbiz.de/10011506467