Similar Search Results

Explaining and Forecasting Euro Area Exports : Which Competitiveness Indicator Performs Best?

Ca’ Zorzi, Michele; Schnatz, Bernd - 2022

export developments. This paper constitutes a first attempt to systematically compare the properties of the alternative cost …

Persistent link: https://www.econbiz.de/10014222682

A Stable Model for Euro Area Money Demand : Revisiting the Role of Wealth

Beyer, Andreas - 2009

In this paper we present an empirically stable money demand model for Euro area M3. We show that housing wealth is an important explanatory variable of long-run money demand that captures the trending behaviour of M3 velocity, in particular its shift in the first half of this decade. We show...

Persistent link: https://www.econbiz.de/10013155103

Does it Matter How Aggregates are Measured? The Case of Monetary Transmission Mechanisms in the Euro Area

Beyer, Andreas - 2010

impact on the cointegration properties in empirical modelling, the monetary model in Coenen &Vega (2001) based on fixed …

Persistent link: https://www.econbiz.de/10013149066

Budgetary and External Imbalances Relationship : A Panel Data Diagnostic

Afonso, António; Rault, Christophe - 2021

We assess the cointegration relationship between current account and budget balances, and effective real exchange rates …, using recent bootstrap panel cointegration techniques and SUR methods. We investigate the magnitude of the relationship … panel cointegration tests used allow for within and between correlation, while the SUR results show both positive and …

Persistent link: https://www.econbiz.de/10013316457

Bayesian Inference in Cointegrated VAR Models : With Applications to the Demand for Euro Area M3

Warne, Anders - 2021

The paper considers a Bayesian approach to the cointegrated VAR model with a uniform prior on the cointegration space …. Building on earlier work by Villani (2005b), where the posterior probability of the cointegration rank can be calculated … the marginal likelihood identity is used for calculating these probabilities, a point estimator of the cointegration space …

Persistent link: https://www.econbiz.de/10013317369

Non-Linear Dynamics in the Euro Area Demand for M1

Calza, Alessandro; Zaghini, Andrea - 2021

This paper investigates possible non-linearities in the dynamics of the euro area demand for the narrow aggregate M1. A long-run money demand relationship is firstly estimated over a sample period covering the last three decades. While the parameters of the relationship are jointly stable, there...

Persistent link: https://www.econbiz.de/10013317661