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CBDC policies in open economies
Kumhof, Michael; Pinchetti, Marco; Phurichai … - 2023
Persistent link: https://www.econbiz.de/10014320218
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Sudden stop : supply and demand shocks in the German natural gas market
Güntner, Jochen; Reif, Magnus; Wolters, Maik H. - 2024
information about supply cuts for identification and find that gas supply and demand shocks have large and persistent price … effects, while output effects are rather moderate. The 2022 natural gas price spike was driven by adverse flow supply shocks … embargo on natural gas imports from Russia indicate similar positive price and negative output effects compared to what we …
Persistent link: https://www.econbiz.de/10014560154
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Sources of German unemployment : evidence from a structural VAR model
Linzert, Tobias - 2001
display that price, demand, and labor supply shocks affect unemployment significantly in the short/medium run. Interestingly …
Persistent link: https://www.econbiz.de/10013428423
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(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
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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 …
Persistent link: https://www.econbiz.de/10010433361
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Money as a corrdination device
Wibaut, Quentin - 1997
Persistent link: https://www.econbiz.de/10000973920
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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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Monetary policy and the current account : theory and evidence
Hjortsoe, Ida; Weale, Martin; Wieladek, Tomasz - 2016
monetary policy shock depends on the degree of economic regulation in different markets. In particular, financial (product …
Persistent link: https://www.econbiz.de/10011436615
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Bank capital, the state contingency of banks’ assets and its role for the transmission of shocks
Kühl, Michael - 2014
The role of bank capital as a propagation channel of shocks is strongly pronounced in recent macroeconomic models. In this paper, we show how the evolution of bank capital depends on the share of non-state-contingent assets in banks’ balance sheets and present the consequences for...
Persistent link: https://www.econbiz.de/10010415785
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Buried in the vaults of central banks : monetary gold hoarding and the slide into the Great Depression
Karau, Sören - 2020 - This draft: October 2020
of narrative information to sharpen shock identification in a structural VAR analysis based on sign restrictions …
Persistent link: https://www.econbiz.de/10012405992