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State dependence in the finance-growth nexus : a functional coefficient approach

Herwartz, Helmut; Yabibal Mulualem Walle - 2013

Noting that "one size does not fit all" in the case of the finance-growth (FG) nexus, a growing body of literature has recently focused on uncovering economic conditions under which financial development could be beneficial (detrimental) to economic development. We look into these conditions by...

Persistent link: https://www.econbiz.de/10009752169

Long-run links among money, prices, and output : world-wide evidence

Herwartz, Helmut; Reimers, Hans-Eggert - 2001

analyse this topic by means of a P-star model. Based on the quantity theory of money, this approach explains inflation via a …. Moreover, parameter restrictions for the long-run relationships implied by the monetary theory are tested. Country specific P … Preisniveau und dem realen Output testet. Weiterhin werden die Parameterrestriktionen, die sich durch die monet¨are Theorie …

Persistent link: https://www.econbiz.de/10011419407

Monetary policy shocks, set-identifying restrictions, and asset prices : a benchmarking approach for analyzing set-identified models

Uhrin, Gábor B.; Herwartz, Helmut - 2016 - This version: November 17, 2016

A central question for monetary policy is how asset prices respond to a monetary policy shock. We provide evidence on this issue by augmenting a monetary SVAR for US data with an asset price index, using set-identifying structural restrictions. The impulse responses show a positive asset price...

Persistent link: https://www.econbiz.de/10011563120