Similar Search Results

(When) does money growth help to predict Euro-area inflation at low frequencies?

Schreiber, Sven - 2013 - this version: June 2013

revisit claims in the literature that money growth is Granger-causal for inflation at low frequencies. Applying frequency …-specific tests in a comprehensive system setup for euro-area data we consider various theoretical predictors of inflation. A general … Granger-causal for low-frequency inflation movements, and all variables affect money growth. We therefore interpret opposite …

Persistent link: https://www.econbiz.de/10009774367

In search of the Euro area fiscal stance

Albonico, Alice; Tirelli, Patrizio; Paccagnini, Alessia - 2016

This paper investigates the role of fiscal policies over the aggregate EMU business cycle. Previous studies, based on the assumption of non-separability between public and private consumption, obtain a large public consumption multiplier, a small fraction of non-Ricardian households and,...

Persistent link: https://www.econbiz.de/10011529025

Divisia monetary aggregates for a heterogeneous euro area

Brill, Maximilian; Nautz, Dieter; Sieckmann, Lea - 2019 - This version: June 25, 2019

We introduce a Divisia monetary aggregate for the euro area that accounts for the heterogeneity across member countries both, in terms of interest rates and the decomposition of monetary assets. In most of the euro area countries, the difference between the growth rates of the country-specific...

Persistent link: https://www.econbiz.de/10012023395

German and the rest of euro area fiscal policy during the crisis

Gadatsch, Niklas; Hauzenberger, Klemens; Stähler, Nikolai - 2015

We present the estimated large-scale three-region DSGE model GEAR picturing Germany, the Euro Area and the Rest of the world. Compared to existing models of this type, GEAR incorporates a comprehensive fiscal block, involuntary unemployment and a complex international structure. We use the model...

Persistent link: https://www.econbiz.de/10010516561

Identifying the shocks behind business cycle asynchrony in Euroland

Trenkler, Carsten; Weber, Enzo - 2012

This paper investigates which shocks drive asynchrony of business cycles in the euro area. Thereby, it unites two strands of literature, those on common features and on structural VAR analysis. In particular, we show that the presence of a common cycle implies collinearity of structural impulse...

Persistent link: https://www.econbiz.de/10011489953

Labor productivity, effort and the euro area business cycle

Lewis, Vivien; Villa, Stefania; Wolters, Maik H. - 2019

, we demonstrate that eﬀort dampens the response of inﬂation to exogenous shocks. …

Persistent link: https://www.econbiz.de/10012134398

To sign or not to sign? : on the response of prices to financial and uncertainty shocks

Meinen, Philipp; Röhe, Oke - 2018

Based on SVAR models identified by sign restrictions, we estimate the macroeconomic effects of financial and uncertainty shocks in the euro area and the US, paying particular attention to their effects on prices. While our results confirm that such disturbances are important drivers of output...

Persistent link: https://www.econbiz.de/10011897983

External financing and economic activity in the euro area : why are bank loans special?

Aldasoro, Iñaki; Unger, Robert - 2017

Using a Bayesian vector autoregression (BVAR) identified with a mix of sign and zero restrictions, we show that a restrictive bank loan supply shock has a strong and persistent negative impact on real GDP and the GDP deflator. This result comes about even though flows of other sources of...

Persistent link: https://www.econbiz.de/10011632175

Unconventional monetary policy shocks in the euro area and the sovereign-bank nexus

Hristov, Nikolay; Hülsewig, Oliver; Scharler, Johann - 2020

We explore the effects of the ECB's unconventional monetary policy on the banks' sovereign debt portfolios. In particular, using panel vector autoregressive (VAR) models we analyze whether banks increased their domestic government bond holdings in response to non-standard monetary policy shocks,...

Persistent link: https://www.econbiz.de/10012197879

Climate policies under dynamic international economic cycles : a heterogeneous countries DSGE model

Xiao, Bowen; Guo, Xiaodan; Fan, Ying; Voigt, Sebastian; … - 2020

In light of increased economic integration and global warming, addressing critical issues such as the role of multilateral climate policies and the strategic interaction of countries in climate negotiations becomes paramount. We thus established for this paper an open economy environmental...

Persistent link: https://www.econbiz.de/10012174121

1
2
3
4
5
6
7
8
9
10
Next
Last