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Mion, Giordano; Silva, Joana - 2024

Persistent link: https://www.econbiz.de/10014631304

Sudden stop : supply and demand shocks in the German natural gas market

Güntner, Jochen; Reif, Magnus; Wolters, Maik H. - 2024

information about supply cuts for identification and find that gas supply and demand shocks have large and persistent price … effects, while output effects are rather moderate. The 2022 natural gas price spike was driven by adverse flow supply shocks … embargo on natural gas imports from Russia indicate similar positive price and negative output effects compared to what we …

Persistent link: https://www.econbiz.de/10014560154

Sources of German unemployment : evidence from a structural VAR model

Linzert, Tobias - 2001

display that price, demand, and labor supply shocks affect unemployment significantly in the short/medium run. Interestingly …

Persistent link: https://www.econbiz.de/10013428423

The impact of uncertainty shocks : firm level estimation and a 9/11 simulation

Bloom, Nicholas (contributor) - 2006

Persistent link: https://www.econbiz.de/10003319792

On the international dimension of fiscal policy

Benigno, Gianluca (contributor); … - 2009

This paper analyses the international dimension of fiscal policy using a small open economy framework in which the government finances its spending by levying distortionary taxation and issuing non-state-contingent debt. The main finding of the paper is that, once the open economy aspect of the...

Persistent link: https://www.econbiz.de/10003867915

Imperfect information about financial frictions and consequences for the business cycle

Hollmayr, Josef; Kühl, Michael - 2015

In this paper, we discuss the consequences of imperfect information about financial frictions on the macroeconomy. We rely on a New Keynesian DSGE model with a banking sector in which we introduce imperfect information about a limited enforcement problem. Bank managers divert resources and can...

Persistent link: https://www.econbiz.de/10010517143

Reconciling narrative monetary policy disturbances with structural VAR model shocks?

Kliem, Martin; Kriwoluzky, Alexander - 2013

Structural VAR studies disagree with narrative accounts about the history of monetary policy disturbances. We investigate whether employing the narrative monetary shock account as a proxy variable in a VAR model aligns both shock series. We quantify the extent to which the disagreement still...

Persistent link: https://www.econbiz.de/10009771126

Optimal sovereign default

Adam, Klaus; Grill, Michael - 2013

When is it optimal for a government to default on its legal repayment obligations? We answer this question for a small open economy with domestic production risk in which contracting frictions make it optimal for the government to finance itself by issuing non-contingent debt. We show that...

Persistent link: https://www.econbiz.de/10009733001

The financial accelerator and market-based debt instruments : a role for maturities?

Kühl, Michael - 2014

market-based debt which has a market-determined price. Our results show that the average maturity of bonds is essential for …

Persistent link: https://www.econbiz.de/10010357605

Monetary policy and the current account : theory and evidence

Hjortsoe, Ida; Weale, Martin; Wieladek, Tomasz - 2016

for 19 OECD countries. Our empirical results support the theory. We therefore conclude that following a monetary policy …

Persistent link: https://www.econbiz.de/10011436615