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This paper looks at some implications of data uncertainty for monetary policy. We combine national accounts data revisions with optimal control and filtering experiments on a calibrated model to discuss policy implications of price-versus-volume data uncertainty in GDP data for the United...
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The euro area crisis is often linked to the emergence of current account imbalances. As most of the deficit countries … of claims of domestic banks on debtors in other euro-area countries, and an increase is expected to lead to higher …
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this paper the macroeconomic consequences of cross-border banking in monetary unions such as the euro area. For this … financial sector may have exacerbated the emergence of macroeconomic imbalances within the euro area. Additionally, we show the …
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