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professional forecasters from four major European economies. Our estimates imply that inflation expectations in France, Germany and … the United Kingdom are updated about once a year, in Italy about once each six months …
Persistent link: https://www.econbiz.de/10012770725
An aggregation exercise is proposed that aims at investigating whether the fast average adjustment of the disaggregate inflation series of the euro area CPI translates into the slow adjustment of euro area aggregate inflation. We first estimate a dynamic factor model for 404 inflation...
Persistent link: https://www.econbiz.de/10012777732
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
We estimate the degree of 'stickiness' in aggregate consumption growth (sometimes interpreted as reflecting consumption habits) for thirteen advanced economies. We find that, after controlling for measurement error, consumption growth has a high degree of autocorrelation, with a stickiness...
Persistent link: https://www.econbiz.de/10013316561
in Germany and Italy, which are characterized by a large number of banks; but it is very weak in Spain and more … homogeneous in France, where the banking industry has a higher degree of market concentration. Second, there is some evidence that … savings banks with smaller size in Italy. Third, heterogeneity across groups of banks belonging to the same category in any …
Persistent link: https://www.econbiz.de/10013078975
differentials in explaining city-level house price dispersion in Germany, France, and the US (but not in Italy or Spain once …
Persistent link: https://www.econbiz.de/10013142991
investigates the behavior of private residential investments for the six largest European economies, namely: Germany, France, Italy … house price changes whereas Italy shows the lowest responses. In Spain investments seem to be primarily related to their …
Persistent link: https://www.econbiz.de/10013102106
This paper presents a novel approach to investigate and model the network of euro area banks' large exposures within the global banking system. Drawing on a unique dataset, the paper documents the degree of interconnectedness and systemic risk of the euro area banking system based on bilateral...
Persistent link: https://www.econbiz.de/10012894738
This paper builds a macro-prudential tool designed to assess whether the banking sector is adequately prepared to orderly withstand losses resulting from normal or stressed macroeconomic and micro-economic scenarios. The link between the banking sector and the real sector is established via the...
Persistent link: https://www.econbiz.de/10013075928
This paper presents a methodology to calculate the Systemic Risk Ranking of financial institutions in the European banking sector using publicly available information. The proposed model makes use of the network structure of financial institutions by including the stock return series of all...
Persistent link: https://www.econbiz.de/10013014960