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bargaining shock. We then impose these restrictions on a Global VAR consisting of Germany and 8 EMU countries to identify a wage … bargaining shock in Germany. Our results show that, although the German current account was significantly affected by wage …
Persistent link: https://www.econbiz.de/10011292316
This paper investigates the scarcity effects of quantitative easing (QE) policies, drawing on intra-day transaction-level data for German government bonds, purchased under the Public Sector Purchase Program (PSPP) of the ECB/Eurosystem. This paper is the first to match high-frequency QE purchase...
Persistent link: https://www.econbiz.de/10011632212
We assess to what extent wage inflation policies in Germany could contribute to an economic rebalancing in the euro … and output in Germany and the rest of the euro area. The duration of constant interest rates and expectations about the … consists of Germany, the rest of the euro area, and the rest of the world. …
Persistent link: https://www.econbiz.de/10012184056
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Current HICP measurement practices produce an upward bias of about one-ninth of a percentage point in German inflation due to changing consumption being disregarded and the preliminary data being used in the compilation of expenditure weights. The statistical uncertainty produced by these...
Persistent link: https://www.econbiz.de/10012489562
This paper examines German business survey data to uncover the influence of political news on expectations concerning the starting date of the European Monetary Union (EMU). In this survey the participants were asked to indicate whether they expect a punctual or a delayed start of the EMU....
Persistent link: https://www.econbiz.de/10011621979
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Recent monetary search models emphasize that the real effects of inflation via its impact on price dispersion depend on the level of search costs and, thus, on the level of market integration. For less integrated markets, the inflation-price dispersion nexus is predicted to be asymmetrically...
Persistent link: https://www.econbiz.de/10003952539