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Financial Globalisation, Monetary Policy Spillovers and Macro-Modelling : Tales from 1001 Shocks
Georgiadis, Georgios - 2017
-border financial spillover channels have not become a standard element of structural monetary models. Against this background, we … hypothesise that New Keynesian DSGE models that do not feature powerful financial spillover channels confound the effects of … models that do not account for powerful financial spillover channels are contaminated by a common global component; the …
Persistent link: https://www.econbiz.de/10012953383
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Monetary Policy Spillovers, Capital Controls and Exchange Rate Flexibility, and the Financial Channel of Exchange Rates
Georgiadis, Georgios - 2019
We assess the empirical validity of the trilemma (or impossible trinity) in the 2000s for a large sample of advanced and emerging economies. To do so, we estimate Taylor-rule type monetary policy reaction functions, relating the local policy rate to real-time forecasts of domestic fundamentals,...
Persistent link: https://www.econbiz.de/10012872104
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Spillovers from the ECB's Non-Standard Monetary Policy Measures on South-Eastern Europe
Moder, Isabella - 2018
This paper is the first to comprehensively assess the impact of the euro area's non-standard monetary policy measures on south-eastern Europe. By employing bilateral BVAR models, I am able to estimate the response of output and prices for each country, as well as to shed more light on potential...
Persistent link: https://www.econbiz.de/10012933044
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Domestic and Multilateral Effects of Capital Controls in Emerging Markets
Pasricha, Gurnain Kaur - 2015
economies (EMEs) over the period 2001-2011, this paper provides new evidence on domestic and multilateral (or spillover) effects … South Africa) to other EMEs during the 2000s. Spillover effects were more important in the aftermath of the global financial …
Persistent link: https://www.econbiz.de/10013016947
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Central Bank Information Effects and Transatlantic Spillovers
Jarocinski, Marek - 2021
the transatlantic spillover of monetary policy. They account for a part of the co-movement of German and US government …
Persistent link: https://www.econbiz.de/10013315198
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Dominant-Currency Pricing and the Global Output Spillovers from Us Dollar Appreciation
Georgiadis, Georgios; Schumann, Ben - 2021
Different export-pricing currency paradigms have different implications for a host of issues that are critical for policymakers such as business cycle co-movement, optimal monetary policy, optimum currency areas and international monetary policy co-ordination. Unfortunately, the literature has...
Persistent link: https://www.econbiz.de/10013315352
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Euro area inflation differentials
Angeloni, Ignazio; Ehrmann, Michael - 2004
We build a stylised 12-country model of the euro area and use it to analyse why differences in national inflation and growth rates arise within the European monetary union. We find that inflation persistence is a key potential explanatory factor. Other more frequently mentioned reasons, like...
Persistent link: https://www.econbiz.de/10011604434
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Global inflation: The role of food, housing and energy prices
Parker, Miles - 2017
This paper studies the role of global factors in causing common movements in consumer price inflation, with particular focus on the food, housing and energy sub-indices. It uses a comprehensive dataset of 223 countries and territories collected from national and international sources. Global...
Persistent link: https://www.econbiz.de/10011667215
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Global Inflation : The Role of Food, Housing and Energy Prices
Parker, Miles - 2017
This paper studies the role of global factors in causing common movements in consumer price inflation, with particular focus on the food, housing and energy sub-indices. It uses a comprehensive dataset of 223 countries and territories collected from national and international sources. Global...
Persistent link: https://www.econbiz.de/10012962351
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What is global excess liquidity, and does it matter?
Rüffer, Rasmus; Stracca, Livio - 2006
global excess liquidity to the global economy, including possible cross-border spill-over effects to a number of domestic …
Persistent link: https://www.econbiz.de/10011604742