Narrow search
Showing 1 - 10 of 766
Cover Image
The short-term impact of government budgets on prices: evidence from macroeconomic models
Henry, Jérôme; Hernández de Cos, Pablo; Momigliano, … - 2004
This paper reviews the existing empirical evidence on the short-term impact on prices of fiscal variables and assesses … Commission and the OECD models. Overall, a broad consensus appears on the impact on prices of changes in individual government … limited impact on prices in the first year while, in contrast, changes in indirect taxes and employers' social security …
Persistent link: https://www.econbiz.de/10011604442
Cover Image
Wage and price dynamics in Portugal
Robalo Marques, Carlos - 2008
This paper investigates the persistence of aggregate wages and prices in Portugal assuming a model of a unionized … wages is attributable mainly to unemployment shocks (about 80 percent), whereas variation in the forecast errors of prices …). Productivity shocks explain somewhat less than 10 percent of the variation in forecast errors of wages and prices. …
Persistent link: https://www.econbiz.de/10011604991
Cover Image
Inflation volatility in small and large advanced open economies
Mozzanica, Mirco Balatti - 2020
Inflation volatility is clearly important for structural analysis, forecasting and policy purposes, yet it is often overlooked in the literature. This paper compares in ation volatility among advanced open economies with in ation targeting monetary policy frameworks. The results of the empirical...
Persistent link: https://www.econbiz.de/10012422110
Cover Image
On the International Spillovers of US Quantitative Easing
Fratzscher, Marcel - 2013
Fed operations, such as Treasury and MBS purchases, on portfolio allocations and asset prices dwarfed those of Fed …
Persistent link: https://www.econbiz.de/10013081463
Cover Image
What does the single monetary policy do? A SVAR benchmark for the European Central Bank
Monticello, Carlo; Tristani, Oreste - 1999
macroeconomic variables (interest rates, prices and GDP) aggregated across countries to obtain area-wide time series. The exogenous …
Persistent link: https://www.econbiz.de/10011604048
Cover Image
What horizon for price stability
Smets, Frank - 2000
This paper analyses in a unified framework the twin issues of the appropriate horizon for achieving price stability in the face of unexpected disturbances and the choice of a price level versus an inflation objective. Using a small estimated forward-looking model of the euro area economy, the...
Persistent link: https://www.econbiz.de/10011604070
Cover Image
Are the effects of monetary policy in the euro area greater in recessions than in booms?
Peersman, Gert; Smets, Frank - 2001
This paper investigates whether monetary policy impulses have asymmetric effects on output growth in seven countries of the euro area (Germany, France, Italy, Spain, Austria, Belgium and the Netherlands). First, it is shown that these seven countries share the same business cycle. Next, strong...
Persistent link: https://www.econbiz.de/10011604098
Cover Image
Interbank lending and monetary policy transmission - evidence for Germany
Ehrmann, Michael; Worms, Andreas - 2001
This paper presents empirical evidence on the behaviour of interbank lending in Germany after a monetary policy impulse. Our VAR analysis shows that following a monetary contraction, the banking system as a whole attracts additional funds from foreign banks. Whereas small cooperative and savings...
Persistent link: https://www.econbiz.de/10011604119
Cover Image
A VAR description of the effects of monetary policy in the individual countries of the euro area
Mojon, Benoît; Peersman, Gert - 2001
gradual decrease in prices for all countries. We also show that, given the width of the error bands around the estimate, we … cannot reject that the effects of monetary policy on GDP and on prices are broadly similar in the individual countries of the …
Persistent link: https://www.econbiz.de/10011604138
Cover Image
Some stylised facts on the euro area business cycle
Agresti, Anna Maria; Mojon, Benoît - 2001
, prices, inflation, interest rate, monetary aggregates relative to the fluctuations of GDP are very similar in the two …
Persistent link: https://www.econbiz.de/10011604141