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Money growth and consumer price inflation in the euro area : a wavelet analysis

Mandler, Martin; Scharnagl, Michael - 2014

Our paper studies the relationship between money growth and consumer price inflation in the euro area using wavelet analysis. Wavelet analysis allows to account for variations in the money growth-inflation relationship both across the frequency spectrum and across time. We find evidence of...

Persistent link: https://www.econbiz.de/10010433361

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

Schreiber, Sven - 2013 - this version: June 2013

Short answer: It helps a lot when other important variables are excluded from the information set. Longer answer: We 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...

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

Global liquidity and exchange market pressure in emerging market economies

Hossfeld, Oliver; Pramor, Marcus - 2018

We analyse the relationship between global liquidity and exchange market pressure in 32 emerging market economies … accounts for changes in exchange rates, foreign exchange reserves and, optionally, interest rates. Surges in monetary liquidity … market conditions: ample liquidity provision in advanced economies contributes to the build-up of financial stability risks …

Persistent link: https://www.econbiz.de/10011820941

From public labs to private firms : magnitude and channels of R&D spillovers

Bergeaud, Antonin; Guillouzouic-Le Corff, Arthur; … - 2022

Persistent link: https://www.econbiz.de/10013454096

Optimal policy: which, where, and why

Furtado, Bernardo Alves; Andreão, Gustav Onofre - 2023

The paper exploits a simulation environment and its output indicators to compare the performance of "ex-ante" policy instruments across housing and social welfare domains. We create a progressive score to contrast six single and mixed policy instruments against a no-policy baseline. The multiple...

Persistent link: https://www.econbiz.de/10014428762

An integrated shortfall measure for Basel III

Torchiani, Ingo; Heidorn, Thomas; Schmaltz, Christian - 2017

quantify the effects of the interdependencies of the Basel III capital and liquidity requirements. Comparing our portfolio … approach to the shortfalls reported in the Basel III monitoring, we find that the reported shortfalls tend to underestimate the … shortfalls, the effects resulting from the interdepen- dencies of the Basel III ratios are found to be rather small. …

Persistent link: https://www.econbiz.de/10011722654

Keeping Up with the Joneses and the Welfare Effects of Monetary Policy

Tervala, Juha - 2011

This paper examines the implications of "keeping up with the Joneses" preferences (jealousy) for the welfare effects of monetary policy. I develop a New Keynesian model, where households are jealous and the central bank follows the Taylor rule. I show that the welfare effects of monetary policy...

Persistent link: https://www.econbiz.de/10012503019

Risk premium, macroeconomics shocks, and information technology: An empirical analysis

Mannonen, Pekka; Oikarinen, Elias - 2013

This study identifies empirically the impact of various macroeconomic factors on the default risk premium. Using monthly data for the period 1970-2010 for the U.S., our estimations indicate that the monetary policy aggregates, risk-free interest rate, term structure of interest rates, inflation,...

Persistent link: https://www.econbiz.de/10012503038

Does banknote quality affect counterfeit detection? : experimental evidence from Germany and the Netherlands

Horst, Frank van der; Eschelbach, Martina; Sieber, Susann; … - 2016

Counterfeit prevention is a major task for central banks, as it helps to maintain public confidence in the currency. It is often maintained that a high quality of the banknotes in circulation helps the public detect counterfeits. However, there has not been any scientific evidence in support of...

Persistent link: https://www.econbiz.de/10011452776

Traditional banks, shadow banks and the US credit boom : credit origination versus financing

Unger, Robert - 2016

The US credit boom has been identified as one of the causes of the global financial crisis and the resulting debt overhang is seen as the primary reason for the weak economic recovery. Most of the existing literature links the credit boom to the emergence of the shadow banking system. This paper...

Persistent link: https://www.econbiz.de/10011456517

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