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Macroeconomic fluctuations and bank lending: evidence for Germany and the euro area
Eickmeier, Sandra (contributor); Hofmann, Boris (contributor) - 2006
monetary policy shocks in Germany and the euro area. The results suggest that the dynamic responses in the two areas are …
Persistent link: https://www.econbiz.de/10003384593
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Heterogeneous expectations, learning and European inflation dynamics
Weber, Anke (contributor) - 2007
household and expert inflation expectations in five core European economies (France, Germany, Italy, Netherlands and Spain …
Persistent link: https://www.econbiz.de/10003529508
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An estimated DSGE model for the German economy within the euro area
Pytlarczyk, Ernest (contributor) - 2005
framework. In the estimation we utilize disaggregated information, employing single country data, along with the aggregated EMU … data by Fagan et. al (2001). We also contribute to the literature by proposing a strategy for consistent estimation of the … simple tworegion DSGE model, with a particular focus on analyzing the German economy within EMU, and its Bayesian estimation …
Persistent link: https://www.econbiz.de/10003126180
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The information content of survey data on expected price developments for monetary policy
Gerberding, Christina - 2001
to medium-run development of consumer prices in Germany, France and Italy. Furthermore, the analysis of the process of …-Verbraucherumfrage ermittelten Daten und die von Consensus Economics erhobenen Expertenprognosen für Deutschland, Frankreich und Italien. Die …
Persistent link: https://www.econbiz.de/10011419361
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The new Keynesian Phillips curve in Europe does it fit or does it fail?
Tillmann, Peter (contributor);  … - 2005
The canonical New Keynesian model specifies inflation as the present-value of future real marginal cost. This paper tests this New Keynesian Phillips Curve and exploits projections of future real marginal cost generated by VAR models to assess the model’s ability to match the behavior of...
Persistent link: https://www.econbiz.de/10002682265
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Do monetary indicators (still) predict euro area inflation
Hofmann, Boris (contributor) - 2006
This paper assesses the performance of monetary indicators in predicting euro area HICP inflation out-of-sample over the period since the start of EMU considering a wide range of forecasting models, including standard bivariate forecasting models, factor models, simple combination forecasts as...
Persistent link: https://www.econbiz.de/10003339181
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Fool the markets? : Creative accounting, fiscal transparency and sovereign risk premia
Bernoth, Kerstin (contributor);  … - 2006
We investigate the effects of official fiscal data and creative accounting signals on interest rate spreads between bond yields in the European Union. Our model predicts that risk premia contained in government bond spreads should increase in both, the official fiscal position and the expected...
Persistent link: https://www.econbiz.de/10003339184
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An affine macro-finance term structure model for the euro area
Lemke, Wolfgang (contributor) - 2007
A joint model of macroeconomic and term structure dynamics is specified and estimated for the euro area. The model comprises a backward-looking Phillips curve, a dynamic IS equation, a monetary policy rule as well as a specification of the dynamics of trend growth and the natural real interest...
Persistent link: https://www.econbiz.de/10003482487
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An assessment of the trends in international price competitiveness among EMU countries
Fischer, Christoph (contributor) - 2007
Inflation differentials within European Monetary Union (EMU) are increasingly seen as exerting adverse effects on the price competitiveness of member countries’ firms and given the common monetary policy within EMU as being detrimental to euro-area economies, in particular to those with...
Persistent link: https://www.econbiz.de/10003461216
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Reconsidering the role of monetary indicators for euro area inflation from a Bayesian perspective using group inclusion probabilities
Scharnagl, Michael (contributor);  … - 2007
estimation of inclusion probabilities of a particular variable, that is the probability of that variable being in the forecast …
Persistent link: https://www.econbiz.de/10003461220