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Persistent link: https://www.econbiz.de/10003495715
This paper estimates a time-varying AR-GARCH model of inflation producing measures of inflation uncertainty for the euro area, and investigates the linkages between them in a VAR framework, also allowing for the possible impact of the policy regime change associated with the start of EMU in...
Persistent link: https://www.econbiz.de/10003871923
Persistent link: https://www.econbiz.de/10003599482
which the zloty enters ERM II. -- Equilibrium exchange rate ; BEER ; PEER ; cointegration analysis ; Gonzalo …
Persistent link: https://www.econbiz.de/10003813605
Since the breakdown of the Bretton Woods System diverging current account positions in Europe have prevailed. While the Southern and Western European countries have tended to run current account deficits, the current accounts of the Central and Northern European countries, in particular Germany,...
Persistent link: https://www.econbiz.de/10009702880
This study investigates exchange rate movements in the Exchange Rate Mechanism (ERM) of the European Monetary System (EMS) and in the Exchange Rate Mechanism II (ERM-II). On the basis of the variant of the target zone model proposed by Bartolini and Prati (1999) and Bessec (2003), we set up a...
Persistent link: https://www.econbiz.de/10003113302
We analyze the similarities and the differences in the fragility of the European Monetary system (EMS) and the Eurozone. We test the hypothesis that in the EMS the fragility arose from the absence of a credible lender of last resort in the foreign exchange markets while in the Eurozone it was...
Persistent link: https://www.econbiz.de/10010210104
This paper reports the results of a survey among private sector economists about credibility and transparency of … Survey to answer questions on the importance and determinants of credibility. The results of both surveys are very comparable …. Credibility is considered to be important to attain price stability at low cost, while the best ways to earn credibility are a …
Persistent link: https://www.econbiz.de/10011399168
ineffective. We can rationalize this result with a novel model about the credibility of cheap-talk messages. This credibility is … credibility and show, both theoretically and experimentally, an interaction effect of network structure and communication …
Persistent link: https://www.econbiz.de/10012024395
to the credibility revolution) tends to put too much emphasis on internal aspects related solely to the study itself. To …
Persistent link: https://www.econbiz.de/10014632289