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This paper compiles the Intertemporal Public Sector Balance Sheets for all G7 countries and examines their relationship with government borrowing costs. In 2018, all G7 countries have negative Intertemporal Net Financial Worth (INFW), falling short of their intertemporal budget constraint. A...
Persistent link: https://www.econbiz.de/10012613501
We study the properties of a test that determines whether two time series comove. The test computes a simple nonparametric statistic for “concordance,” which describes the proportion of time that the cycles of two series spend in the same phase. We establish the size and power properties of...
Persistent link: https://www.econbiz.de/10014399826
effectiveness may moderate in graying societies. It then uses Bayesian estimation techniques for the U.S., Canada, Japan, U.K., and … Germany to confirm a weakening of monetary policy effectiveness over time with regards to unemployment and inflation. After … impact on the economy—given better anchored inflation expectations and inflation being less responsive to variation in …
Persistent link: https://www.econbiz.de/10012667511
, and the United States than in Germany and Japan. It is argued that the differences in the linkage between the interest … between the nominal interest rate and inflation in the postwar period in the five major industrial countries, utilizing … recently developed time series techniques. The results suggest that the Fisher effect is stronger in France, the United Kingdom …
Persistent link: https://www.econbiz.de/10014395917
Persistent link: https://www.econbiz.de/10009424829
Persistent link: https://www.econbiz.de/10009487131
productivity slowdown over the past two decades in four closely integrated European countries, Austria, Denmark, Germany and the …
Persistent link: https://www.econbiz.de/10012170132
France, Germany, Italy, and the United Kingdom during the period of the Stability and Growth Pact (SGP). Our findings …'s and market experts’ deficit forecasts also increased in France, Italy, and the United Kingdom, particularly during the … indicate that accuracy of financial expert deficit forecasts increased in France. Convergence between the European Commission …
Persistent link: https://www.econbiz.de/10014412192
and associated inflation expectations for the United States, Australia, Canada, France, Sweden, Japan, and the United …This paper explores international bond spillovers using daily and intra-day data on yields on inflation-indexed bonds … Kingdom. The analysis starts in 2002, by which point U.S. inflation-indexed markets were fully mature. Real bond yields are …
Persistent link: https://www.econbiz.de/10014400687
This paper reexamines some unsettled theoretical and empirical issues regarding the relationship between nominal exchange rates and interest rate differentials and provides a model for the behavior of exchange rates in the long run, where interest rates are determined in the bond market. The...
Persistent link: https://www.econbiz.de/10014400414