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How stable are monetary models of the Dollar-Euro exchange rate? A time-varying coefficient approach

Beckmann, Joscha; Belke, Ansgar; Kühl, Michael - 2009

exchange rate to one of the politically most important exchange rates, the exchange rate of the US dollar vis-à-vis the euro …

Persistent link: https://www.econbiz.de/10010271135

Current account imbalances and structural adjustment in the euro area: how to rebalance competitiveness

Zemanek, Holger; Belke, Ansgar; Schnabl, Gunther - 2009

Low international competitiveness of a set of euro area countries, which have become evident by large current account … analyse the role of private restructuring and public structural reforms for the urgently needed readjustment of intra-euro … intra-euro area competitiveness. This implies that private restructuring and public reforms are rather than public transfers …

Persistent link: https://www.econbiz.de/10010271100

The importance of global shocks for national policymakers: rising challenges for central banks

Belke, Ansgar; Rees, Andreas - 2009

national variables. We estimate our macro model using quarterly data from Q1 1984 to Q4 2007 for the G7 countries plus the euro …

Persistent link: https://www.econbiz.de/10010271110

Does the ECB rely on a Taylor rule? Comparing ex-post with real time data

Belke, Ansgar; Klose, Jens - 2009

We assess the differences that emerge in Taylor rule estimations for the ECB when using ex-post data instead of real time forecasts and vice versa. We argue that previous comparative studies in this field mixed up two separate effects. First, the differences resulting from the use of ex-post and...

Persistent link: https://www.econbiz.de/10010271158

Financial crisis, global liquidity and monetary exit strategies

Belke, Ansgar - 2010

technically out of reach within the euro area. …

Persistent link: https://www.econbiz.de/10010271374

Is euro area money demand (still) stable? Cointegrated VAR versus single equation techniques

Belke, Ansgar; Czudaj, Robert - 2010

In this paper we present an empirically stable euro area money demand model. Using a sample period until 2009:2 shows … stability of the euro area money demand function. We also compare single equation methods like the ARDL approach, FM-OLS, CCR …

Persistent link: https://www.econbiz.de/10010271383

(How) do the ECB and the Fed react to financial market uncertainty? The Taylor rule in times of crisis

Belke, Ansgar; Klose, Jens - 2010

We assess differences that emerge in Taylor rule estimations for the Fed and the ECB before and after the start of the subprime crisis. For this purpose, we apply an explicit estimate of the equilibrium real interest rate and of potential output in order to account for variations within these...

Persistent link: https://www.econbiz.de/10010271583

Driven by the markets? ECB sovereign bond purchases and the securities market programme

Belke, Ansgar - 2010

After the dramatic rescue package for the euro area, the governing council of the European Central Bank decided to … sterilise its bond purchases - compensating those purchases through sales of other bonds or money market instruments to keep the …

Persistent link: https://www.econbiz.de/10010285759

The euro area crisis management framework: Consequences and institutional follow-ups

Belke, Ansgar - 2010

support the stability of the euro. Among them are the enhancement of the effectiveness of the Stability and Growth Pact …

Persistent link: https://www.econbiz.de/10010285769

Ramifications of debt restructuring on the euro area: The example of large European economies' exposure to Greece

Belke, Ansgar; Dreger, Christian - 2011

The Greek government budget situation plays a central role in the debt crisis in the euro area. The debt to GDP ratio …. Under realistic conditions, a debt conversion may be the less costly strategy for Greece and the euro area partner states. A … value-added of these calculations lies in a potential transfer to smaller euro area member countries. …

Persistent link: https://www.econbiz.de/10010286303