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Communication Matters : U.S. Monetary Policy and Commodity Price Volatility

Hayo, Bernd - 2011

Using a GARCH model, we analyze the influence of U.S. monetary policy action and communication on the price volatility of commodities for the period 1998–2009. We find, first, that U.S. monetary policy events have an economically significant impact on price volatility. Second, expected target...

Persistent link: https://www.econbiz.de/10013128878

Canadian Interest Rate Setting : The Information Content of Canadian and U.S. Central Bank Communication

Hayo, Bernd - 2010

We explain Canadian target rate decisions using macroeconomic variables as well as Bank of Canada (BOC) and Federal Reserve (Fed) communication indicators. Econometrically, we employ an ordered probit model of a Taylor rule to explain and predict 60 target rate decisions between 1998 and 2006....

Persistent link: https://www.econbiz.de/10013151094

The End of the Wheeling and Dealing

Sinn, Hans-Werner - In: CESifo Forum 09 (2008) 4, pp. 3-5

Persistent link: https://www.econbiz.de/10011695906

The Causes of the Financial Crisis

Hellwig, Martin - In: CESifo Forum 09 (2008) 4, pp. 12-21

Persistent link: https://www.econbiz.de/10011695908

Containment and Resolution in the Financial Crisis: Too Little, Too Late

Honohan, Patrick - In: CESifo Forum 09 (2008) 4, pp. 22-27

Persistent link: https://www.econbiz.de/10011695909

Regional effects of federal tax shocks

Hayo, Bernd; Uhl, Matthias - 2012

This paper studies regional output asymmetries following U.S. federal tax shocks. We estimate a vector autoregressive model for each U.S. state, utilizing the exogenous tax shock series recently proposed by Romer and Romer (2010) and find considerable variations: estimated output multipliers lie...

Persistent link: https://www.econbiz.de/10010294366

Offsetting versus mitigation activities to reduce CO2 emissions: A theoretical and empirical analysis for the US and Germany

Lange, Andreas; Ziegler, Andreas - 2012

This paper studies the voluntary provision of public goods that is partially driven by a desire to offset for individual polluting activities. We first extend existing theory and show that offsets allow a reduction in effective environmental pollution levels while not necessarily extending the...

Persistent link: https://www.econbiz.de/10010294375

Regionaler Treibhausgas-Emissionshandel in den USA: Eine umweltökonomische Analyse der Erfahrungen und der Neuerungen in Kalifornien und Neuengland

Rudolph, Sven - 2013

In den USA, weltweit zweitgrößte Wirtschaftsmacht und gleichzeitig zweitgrößter Emittent von Treibhausgasen, war die … der USA vollzog eine tiefgreifende Revision der Regional Greenhouse Gas Initiative (RGGI). Vor diesem Hintergrund stellt … der vorliegende Beitrag unter Einbeziehung aktuellster Entwicklungen in den USA das Design regionaler Treibhausgas …

Persistent link: https://www.econbiz.de/10010294376

Is socially responsible investing really beneficial? New empirical evidence for the US and European stock markets

Mollet, Janick Christian; Ziegler, Andreas - 2012

This paper empirically examines the theoretically ambivalent relationship between socially responsible investing (SRI) and stock performance. It extends the existing literature by considering both the US and the entire European stock markets as well as by using consistent world-wide corporate...

Persistent link: https://www.econbiz.de/10010294388

Evaluating FOMC forecast ranges: an interval data approach

Fischer, Henning; García-Bárzana, Marta; Tillmann, Peter - 2012

The Federal Open Market Committee (FOMC) of the U.S. Federal Reserve publishes the range of members' forecasts for key macroeconomic variables, but not the distribution of forecasts within this range. To evaluate these projections, previous papers compare the midpoint of the ranges with the...

Persistent link: https://www.econbiz.de/10010294451