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Violent conflict and inequality
Bircan, Cagatay; Brück, Tilman; Vothknecht, Marc - 2010
focused on the other direction. We use cross-country panel data for the time period 1960-2005 to estimate war-related changes … in income inequality. Our results indicate rising levels of inequality during war and especially in the early period of … post-war reconstruction. However, we find that this rise in income inequality is not permanent. While inequality peaks …
Persistent link: https://www.econbiz.de/10010271373
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Social Identity and Group Lending
Chatterjee, Prabirendra; Sarangi, Sudipta - 2004
The success of joint liability programs depends on nature and composition of borrowing groups. Group formation is a costly process and in our model these costs vary with the social identity of group partners. We show that risk heterogeneity in a borrowing group may arise due to the social...
Persistent link: https://www.econbiz.de/10010260680
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Transparency, expectations, and forecasts
Bauer, Andrew; Eisenbeis, Robert; Waggoner, Daniel; Zha, Tao - 2006
In 1994 the FOMC began to release statements after each meeting. This paper investigates whether the public’s views about the current path of the economy and of future policy have been affected by changes in the Federal Reserve’s communications policy as reflected in private sector’s...
Persistent link: https://www.econbiz.de/10011604683
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Euro area market reactions to the monetary developments press release
Coffinet, Jerome; Gouteron, Sylvain - 2007
Using intra-day data, we assess the impact of the press release on euro area monetary data on the different segments of the euro area yield curve. For this purpose, we estimate a relation between the “news” or “surprise” in the released data for annual M3 growth and the move in the...
Persistent link: https://www.econbiz.de/10011604838
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Explaining the Great Moderation: it is not the shocks
Giannone, Domenico; Lenza, Michele; Reichlin, Lucrezia - 2008
This paper shows that the explanation of the decline in the volatility of GDP growth since the mid-eighties is not the decline in the volatility of exogenous shocks but rather a change in their propagation mechanism.
Persistent link: https://www.econbiz.de/10011604911
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Money talks
Hoerova, Marie; Monnet, Cyril; Temzelides, Ted - 2009
We study credible information transmission by a benevolent Central Bank. We consider two possibilities: direct revelation through an announcement, versus indirect information transmission through monetary policy. These two ways of transmitting information have very different consequences. Since...
Persistent link: https://www.econbiz.de/10011605137
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How much does the public know about the ECB's monetary policy? Evidence from a survey of Dutch households
van der Cruijsen, Carin; Jansen, David-Jan; de Haan, Jakob - 2010
Does the general public know what central banks do? Is this kind of knowledge relevant? Using a survey of Dutch households, we investigate these questions for the case of the European Central Bank (ECB). Our findings suggest that knowledge on the ECB’s objectives is far from perfect. Both a...
Persistent link: https://www.econbiz.de/10011605311
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The impact of fiscal policy announcements by the Italian government on the sovereign spread: a comparative analysis
Falagiarda, Matteo; Gregori, Wildmer Daniel - 2015
This paper attempts to evaluate the impact of fiscal policy announcements by the Italian government on the long-term sovereign bond spread of Italy relative to Germany. After collecting data on relevant fiscal policy announcements, we perform an econometric comparative analysis between the three...
Persistent link: https://www.econbiz.de/10011605827
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Who gives aid to whom and when? Aid accelerations, shocks and policies
Brück, Tilman; Xu, Guo - 2011
We address the pitfalls of averaging by exploiting the longitudinal variation in aid to identify sudden and sharp increases in aid flows. Focusing on specific events, we test if aid accelerations correspond to policies and shocks in the recipient country. For a large sample of 145 recipient...
Persistent link: https://www.econbiz.de/10010291892
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Conflict experiences and household expectations on recovery: Survey evidence from northern Uganda
Bozzoli, Carlos; Brück, Tilman; Muhumuza, Tony - 2010
We analyse the role of mass violent conflict in influencing individual expectations. We hypothesise that individuals are likely to report negative expectations if they were exposed to conflict events in the past. We combine individual and household level data from the Northern Uganda Livelihood...
Persistent link: https://www.econbiz.de/10010285753