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Monetary policies and low-frequency manifestations of the quantity theory
Sargent, Thomas J.; Surico, Paolo - 2008
inflation and money growth rates and interest rates and money growth rates. Like Whiteman (1984), we relate those scatter plots …
Persistent link: https://www.econbiz.de/10003803334
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(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
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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
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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
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German labor market and fiscal reforms 1999 to 2008 : can they be blamed for intra-euro area imbalances?
Gadatsch, Niklas; Stähler, Nikolai; Weigert, Benjamin - 2015
In this paper, we assess the impact of major German structural reforms from 1999 to 2008 on key macroeconomic variables. By many, these reforms, especially the Hartz reforms on the labor market, are considered to be the root of observed imbalances in the Euro Area. Our simulations within a...
Persistent link: https://www.econbiz.de/10011316580
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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
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Inégalités des revenus, marchés du travail et politiques de transferts
Fitoussi, Jean-Paul; VanHaeperen, Béatrice - 1998
Persistent link: https://www.econbiz.de/10001363474
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Employment outcomes in the welfare state
Ngai, Liwa Rachel (contributor);  … - 2008
Persistent link: https://www.econbiz.de/10003649903
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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
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Economic theories and macroeconomic reality
Loria, Francesca; Matthes, Christian; Wang, Mu-Chun - 2021
Economic theories are often encoded in equilibrium models that cannot be directly estimated because they lack features that, while inessential to the theoretical mechanism that is central to the specific theory, would be essential to fit the data well. We propose an econometric approach that...
Persistent link: https://www.econbiz.de/10012792815