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Consumer price adjustment under the microscope : Germany in a period of low inflation
Hoffmann, Johannes (contributor);  … - 2006
We analyse the adjustment of retail and services prices in a period of low inflation, using a set of individual price … data from the German Consumer Price Index which covers the years 1998 to 2003. We strong find evidence of time- and state …-dependent price adjustment. Most importantly, the differences in unconditionalʺ sectoral price flexibility are found to be linked to …
Persistent link: https://www.econbiz.de/10003339174
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Price, wage and employment response to shocks : evidence from the WDN survey
Bertola, Giuseppe; Dabusinskas, Aurelijus; Hoeberichts, … - 2010
(WDN) on patterns of firm-level adjustment to shocks. We document that the relative intensity and the character of price vs …
Persistent link: https://www.econbiz.de/10003941209
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Monetary policy and core inflation
Lenza, Michele (contributor) - 2007
of price adjustments. It shows that a central bank facing heterogeneous nominal rigidities is more likely to behave less … central banks could be partly explained by the existence of a relevant sectorial dispersion in the frequency of price …
Persistent link: https://www.econbiz.de/10003634959
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Can capacity constraints explain asymmetries of the business cycle?
Knüppel, Malte (contributor) - 2008
In this paper, we investigate the ability of a modified RBC model to reproduce asymmetries observed for macroeconomic variables over the business cycle. In order to replicate the empirical skewness of major U.S. macroeconomic variables, we introduce a capacity constraint into an otherwise...
Persistent link: https://www.econbiz.de/10003635016
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Communication, decision-making and the optimal degree of transparency of monetary policy committees
Weber, Anke (contributor) - 2008
This paper develops a theoretical model of dynamic decision-making of a monetary policy committee with heterogeneous members. It investigates the optimal transparency, and the optimal way of transmitting information of committees, by analysing the effects different communication strategies have...
Persistent link: https://www.econbiz.de/10003635036
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Comparing the DSGE model with the factor model : an out-of-sample forecasting experiment
Wang, Mu-Chun (contributor) - 2008
-driven and theory-based modelling in a rigorous manner. …
Persistent link: https://www.econbiz.de/10003650023
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International portfolios, capital accumulation and foreign assets dynamics
Coeurdacier, Nicolas (contributor);  … - 2008
Persistent link: https://www.econbiz.de/10003770956
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Financial globalization and monetary policy
Devereux, Michael B. (contributor);  … - 2008
. Even withoutnominal price rigidities, price stability is optimal because it enhances the risk sharingproperties of nominal …
Persistent link: https://www.econbiz.de/10003770964
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Measuring business sector concentration by an infection model
Düllmann, Klaus (contributor) - 2006
Results from portfolio models for credit risk tell us that loan concentration in certain industry sectors can substantially increase the value-at-risk (VaR). The purpose of this paper is to analyze whether a tractable infection modelʺ can provide a meaningful estimate of the impact of...
Persistent link: https://www.econbiz.de/10003326735
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Bond pricing when the short term interest rate follows a threshold process
Lemke, Wolfgang (contributor);  … - 2006
Using a stochastic discount factor approach, we derive the exact solution for arbitrage-free bond yields for the case that the short-term interest rate follows a threshold process with the intercept switching endogenously. The yield functions, mapping the one-month rate into n-period yields,...
Persistent link: https://www.econbiz.de/10003304940