Narrow search
Showing 1 - 10 of 200
Cover Image
News and Noise in the Housing Market
Gazzani, Andrea Giovanni - 2016
prices related (news) and not related (noise) to future fundamentals. I provide empirical evidence of the sizable … macroeconomic effects of news and noise shocks. Following Forni et al. (2014, 2016), I identify news and noise shocks through a non … frequencies, but in the short-medium horizon noise shocks explain a large share of the variability in housing prices, residential …
Persistent link: https://www.econbiz.de/10012986653
Cover Image
The information content of M3 for future inflation
Trecroci, Carmine; Vega, Juan Luis - 2000
The information content of broad money M3 for future GDP inflation in the euro area is investigated from a number of perspectives. Firstly, tests that money does not Granger-cause prices are conducted within a cointegrated VAR system comprising real M3 holdings, real GDP, inflation and short-...
Persistent link: https://www.econbiz.de/10011604079
Cover Image
Characterising the financial cycle: a multivariate and time-varying approach
Hiebert, Paul; Schüler, Yves S.; Peltonen, Tuomas A. - 2015
We introduce a methodology to characterise financial cycles combining a novel multivariate spectral approach to identifying common cycle frequencies across a set of indicators, and a time varying aggregation emphasising systemic developments. The methodology is applied to 13 European Union...
Persistent link: https://www.econbiz.de/10011605891
Cover Image
Characterising the Financial Cycle : A Multivariate and Time-Varying Approach
Schüler, Yves Stephan - 2015
We introduce a methodology to characterise financial cycles combining a novel multivariate spectral approach to identifying common cycle frequencies across a set of indicators, and a time varying aggregation emphasising systemic developments. The methodology is applied to 13 European Union...
Persistent link: https://www.econbiz.de/10013014965
Cover Image
The real effects of money growth in dynamic general equilibrium
Graham, Liam; Snower, Dennis J. - 2004
We analyse the effects of money growth within a standard New Keynesian framework and show that the interaction between staggered nominal contracts and money growth leads to a long-run trade-off between output and money growth. We explore the microeconomic mechanisms that lead to this trade-off,...
Persistent link: https://www.econbiz.de/10011604458
Cover Image
Credit and the natural rate of interest.
De Fiore, Fiorella; Tristani, Oreste - 2008
We analyze the properties of the natural rate of interest in an economy where nominal debt contracts generate a spread between loan rates and the policy interest rate. In our model, monetary policy has real effects in the flexible-price equilibrium, because it affects the credit spread. Relying...
Persistent link: https://www.econbiz.de/10011604935
Cover Image
The ECB’s non-standard monetary policy measures: the role of institutional factors and financial structure
Cour-Thimann, Philippine; Winkler, Bernhard - 2013
This paper aims to make two contributions: to review the ECB’s non-standard monetary policy measures in response to the financial and sovereign debt crisis against the background of the institutional framework and financial structure of the euro area; and to interpret this response from a...
Persistent link: https://www.econbiz.de/10011605573
Cover Image
The ECB’s Non-Standard Monetary Policy Measures : The Role of Institutional Factors and Financial Structure
Cour-Thimann, Philippine - 2013
This paper aims to make two contributions: to review the ECB's non-standard monetary policy measures in response to the financial and sovereign debt crisis against the background of the institutional framework and financial structure of the euro area; and to interpret this response from a...
Persistent link: https://www.econbiz.de/10013084548
Cover Image
Credit and the Natural Rate of Interest
De Fiore, Fiorella; Tristani, Oreste - 2021
We analyze the properties of the natural rate of interest in an economy where nominal debt contracts generate a spread between loan rates and the policy interest rate. In our model, monetary policy has real effect in the flexible-price equilibrium, because it affects the credit spread. Relying...
Persistent link: https://www.econbiz.de/10013316546