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Monetary policy, global liquidity and commodity price dynamics

Belke, Ansgar; Bordon, Ingo G.; Hendricks, Torben - 2010

, money (defined as a global liquidity aggregate) is still a key factor to determine the long-run homogeneity of commodity … considerations. The inclusion of commodity prices helps to identify a significant monetary transmission process from global liquidity … clear empirical pattern it appears justified to argue that global liquidity merits attention in the same way as the …

Persistent link: https://www.econbiz.de/10003934679

Does macroeconomic policy affect private savings in Europe? : Evidence from a dynamic panel data model

Schrooten, Mechtild (contributor); … - 2004 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10002128045

Measuring income risk

Burgess, Simon M.; Gardiner, Karen; Jenkins, Stephen; … - 2000

We provide a critique of the methods that have been used to derive measures of income risk and draw attention to the importance of demographic factors as a source of income risk. We also propose new measures of the contribution to total income risk of demographic and labour market factors....

Persistent link: https://www.econbiz.de/10011433584

Modelling low income transitions

Cappellari, Lorenzo; Jenkins, Stephen - 2002

We examine the determinants of low income transitions using first-order Markov models that control for initial conditions effects (those found to be poor in the base year may be a non-random sample) and for attrition (panel retention may also be non-random). Our econometric model is a form of...

Persistent link: https://www.econbiz.de/10011436237

Productivity in electricity retail after market liberalisation : analysing the effects of ownership and firm's governance structure

Stiel, Caroline; Cullmann, Astrid; Nieswand, Maria - 2015

This paper, which is one of the first to estimate productivity in retail electricity for a European country after liberalisation, analyses the effect of ownership and governance structure by using a unique dataset of German electricity retailers from 2003 to 2012. An innovative service...

Persistent link: https://www.econbiz.de/10011392296

Bad luck or bad decisions? : macroeconomic implications of persistent heterogeneity in cognitive skills and overconfidence

Pfäuti, Oliver; Seyrich, Fabian; Zinman, Jonathan - 2024

Business cycle models often abstract from persistent household heterogeneity, despite its potentially significant implications for macroeconomic fluctuations and policy. We show empirically that the likelihood of being persistently financially constrained decreases with cognitive skills and...

Persistent link: https://www.econbiz.de/10014528572

Liquidity and the dynamic pattern of asset price adjustment : a global view

Belke, Ansgar; Orth, Walter; Setzer, Ralph - 2009

Global liquidity expansion has been very dynamic since 2001. Contrary to conventional wisdom, high money growth rates … consumer goods. -- Global liquidity ; inflation control ; monetary policy transmission ; asset prices …

Persistent link: https://www.econbiz.de/10003889489

Die Auswirkungen der Geldmenge und des Kreditvolumens auf die Immobilienpreise : ein ARDL-Ansatz für Deutschland

Belke, Ansgar - 2009

Die aktuellen Finanzmarktturbulenzen wurden durch Entwicklungen im Immobiliensektor ausgelöst. Vor diesem Hintergrund analysiert dieser Beitrag den Zusammenhang zwischen den Immobilienpreisen und der Geldmengen- und Kreditvolumensentwicklung für den Zeitraum 1992 -2006 (westdeutsche...

Persistent link: https://www.econbiz.de/10003904552

Effects of global liquidity on commodity and food prices

Belke, Ansgar; Bordon, Ingo G.; Volz, Ulrich - 2012

This paper investigates the relationship between global liquidity and commodity and food prices applying a global … cointegrated vector-autoregressive model. We use different measures of global liquidity and various indices of commodity and food … liquidity and the development of food and commodity prices, and that food and commodity prices adjust significantly to this …

Persistent link: https://www.econbiz.de/10009579223

Money and Inflation in the euro area during the financial crisis

Dreger, Christian; Wolters, Jürgen - 2011

long run, inflation is affected by asset prices and detrended output. Excess liquidity plays an important role for … demand equation is sufficient, at least as a rough indication. -- Money demand ; inflation ; excess liquidity ; cointegration …

Persistent link: https://www.econbiz.de/10009427840