Showing 1 - 10 of 14
We use tests for multiple breaks at unknown points in the sample, and the Stock-Watson (1996, 1998) time-varying parameters median-unbiased estimation methodology, to investigate changes in the equilibrium rate of growth of labor productivity - both per hour and per worker - in the United...
Persistent link: https://www.econbiz.de/10012777974
professional forecasters from four major European economies. Our estimates imply that inflation expectations in France, Germany and …
Persistent link: https://www.econbiz.de/10012770725
over the Internet.It includes more than 5 million daily price quotes downloaded from price comparison web sites in France …, Germany, Italy, the UK and the US. The following results emerge from our analysis. First, and contrary to the recent findings …
Persistent link: https://www.econbiz.de/10013317571
competition on the lending markets in the five major euro countries as well as, for comparison, the UK, the US and Japan. Bearing … market, whereas overall loan markets in Germany and Spain were among the best competitive in the EU. The Netherlands occupied … to be more competitive, particularly in Germany and the US, than savings and cooperative banks …
Persistent link: https://www.econbiz.de/10013317045
We test for mean reversion in real exchange rates using a recently developed unit root test for non-normal processes based on quantile autoregression inference in semi-parametric and non-parametric settings. The quantile regression approach allows us to directly capture the impact of different...
Persistent link: https://www.econbiz.de/10013317520
Recent theoretical research has studied extensively the link between wage setting and monetary policymaking in unionized economies. This paper addresses the question of the role of monetary uncertainty from both an empirical and theoretical point of view. Our analysis is based on a simple model...
Persistent link: https://www.econbiz.de/10011604536
We forecast recession probabilities for the United States, Germany and Japan. The predictions are based on the widely … reached for the United States, the ProbVAR forecasts are slightly worse for Germany, but considerably inferior for Japan …
Persistent link: https://www.econbiz.de/10013316154
The target zone model by Krugman (1991) assumes that foreign exchange intervention targets exchange rate levels. We argue that the fit of this model depends on the stage of development of capital markets. Foreign exchange intervention of countries with highly developed capital markets is in line...
Persistent link: https://www.econbiz.de/10011604682
We test for mean reversion in real exchange rates using a recently developed unit root test for non-normal processes based on quantile autoregression inference in semi-parametric and non-parametric settings. The quantile regression approach allows us to directly capture the impact of different...
Persistent link: https://www.econbiz.de/10011604713
We use tests for multiple breaks at unknown points in the sample, and the Stock-Watson (1996, 1998) time-varying parameters median-unbiased estimation methodology, to investigate changes in the equilibrium rate of growth of labor productivity–both per hour and per worker–in the United...
Persistent link: https://www.econbiz.de/10011604764