Showing 1 - 10 of 53
The question as to whether changes in the external environment may have caused the importance of key determinants of German exports to shift since the 1990s is addressed by estimating Germany’s exports to EMU partner countries (intra exports) and to countries outside the euro area (extra...
Persistent link: https://www.econbiz.de/10003304947
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
The question as to whether the globalisation-related increase in competitive pressure may have caused the importance of exchange rate pass-through and pricing-to-market for export pricing in Germany to shift since the 1990s is addressed by testing the long-run export pricing behaviour of German...
Persistent link: https://www.econbiz.de/10003391947
This paper uses an extended version of “FiMod – A DSGE Model for Fiscal Policy Simulations” (Stähler and Thomas, 2011) with endogenous job destruction decisions by private firms to analyze the effects of several currently discussed labor market reforms on the Spanish economy. The main...
Persistent link: https://www.econbiz.de/10009389750
This paper re-investigates the implications of monetary policy rules on changes in exchange rate, in a risk-adjusted, uncovered interest parity model with unrestricted parameters, emphasizing the importance of modeling market expectations of monetary policy. I use consensus forecasts as a proxy...
Persistent link: https://www.econbiz.de/10009244259
accountability of the ECB with some other central banks (Bank of Canada, Bank of Japan, Bank of England and the Federal Reserve … vergleicht die gesetzlich festgelegte Rechenschaftspflicht der EZB mit der einiger anderer Zentralbanken (Bank of Canada, Bank of …
Persistent link: https://www.econbiz.de/10011418852
The introduction of inflation targets in Canada in 1991 ostensibly clarified the objectives of monetary policy, namely … henceforth be able to assess more easily monetary policy performance based on the Bank of Canada's record at achieving low and …, "... public commentary on monetary policy since 1991 has involved a fairer assessment of the performance of the Bank of Canada …
Persistent link: https://www.econbiz.de/10011418878
Persistent link: https://www.econbiz.de/10002372515
Persistent link: https://www.econbiz.de/10001998057
We analyze foreigners’ and domestic institutional investors’ positions in U.S. equities. Controlling for many factors, we uncover a common preference for large firms and firms that are diversified internationally. The domestic preference for internationally diversified firms implies that...
Persistent link: https://www.econbiz.de/10002682142