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Business Cycle Synchronisation in EU : A Time-Varying Approach
Degiannakis, Stavros Antonios - 2018
This paper investigates the time-varying correlation between the EU12-wide business cycle and the initial EU12 member-countries based on Scalar-BEKK and multivariate Riskmetrics model frameworks for the period 1980-2012. The paper provides evidence that changes in the business cycle...
Persistent link: https://www.econbiz.de/10012910120
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Monetary Policy Transmission in India: A Peep Inside the Black Box
Khundrakpam, Jeevan Kumar; Jain, Rajeev - Volkswirtschaftliche Fakultät, … - 2012
important, while exchange rate channel is weak. A positive shock to policy rate leads to slowdown in credit growth with a lag of … two quarters and subsequently impacts GDP growth and inflation negatively. The same monetary policy shock has a negative …
Persistent link: https://www.econbiz.de/10011259799
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What about monetary transmission in Albania? Is the exchange rate pass-through (still) the main channel?
Peeters, Marga - Volkswirtschaftliche Fakultät, … - 2005
There seems to be a general perception that the exchange rate pass-through is the most important channel in the transmission process of monetary policy in Albania. This perception is questioned here in light of the altering relationships in this developing economy. A discussion on the...
Persistent link: https://www.econbiz.de/10008568632
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Balance Sheet Channel of Monetary Policy and Economic Growth under Fiscal Dominance: Evidence from Pakistan
Shabbir, Safia - Volkswirtschaftliche Fakultät, … - 2012
Using micro data on non-financial listed companies in Pakistan, over the period of 2000-2010, this paper emphasizes over the impact of monetary policy on economic growth through balance sheet channel. At first step, monetary tightening deteriorates the net worth of the firms and leads to cash...
Persistent link: https://www.econbiz.de/10011107430
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Monetary Transmission in Pakistan: The Balance Sheet Channel
Shabbir, Safia - Volkswirtschaftliche Fakultät, … - 2012
Using data of non-financial listed firms over a period of 1999-2010, this paper investigates the effectiveness of balance sheet channel in monetary transmission mechanism in Pakistan. By classifying firms as SME and large, this paper finds a strong evidence for the existence of net worth channel...
Persistent link: https://www.econbiz.de/10011107761
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Does the ECB Care about Shifts in Investors’ Risk Appetite?
Papadamou, Stephanos; Siriopoulos, Costas - Volkswirtschaftliche Fakultät, … - 2008
the period January 1999 to August 2007, our results show that a shock in the risk aversion indicator affects negatively … future real activity in the eurozone in a similar way to an exchange rate shock. The ECB reacts significantly to a risk … aversion shock by reducing the interest rate in order to provide liquidity. Moreover, assuming rational expectations and using …
Persistent link: https://www.econbiz.de/10008680305
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A Model of Monetary Equilibrium with Random Output and Restricted Borrowing
Mierzejewski, Fernando - 2010
An alternative theoretical setting is presented to characterise the money demand and the monetary equilibrium. Two main hypotheses are stated that contradict the assumptions normally sustained by scholars and policy-makers: National output is assumed to be a random variable, and people are...
Persistent link: https://www.econbiz.de/10013148534
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The European and the Greek Business Cycles: Are they synchronized?
Leon, Costas - Volkswirtschaftliche Fakultät, … - 2006
Recent developments in the business cycle empirical literature for the developed economies show that there is an increasing synchronization of the cycles in the sense that cycles are of approximately equal wave length, and exhibit similar lead-lag patterns and decreasing volatility over time,...
Persistent link: https://www.econbiz.de/10005836358
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Adoptarea euro in Romania
Dumitru, Ionut - Volkswirtschaftliche Fakultät, … - 2009
This paper assesses the level of readiness of Romania to adopt euro, based on nominal and real convergence criteria evaluation. We used the optimal currency area criteria in order to assess the real convergence process in Romania. The main conclusion of the paper is that more progress is...
Persistent link: https://www.econbiz.de/10008472251
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Country Size and Labor Market Flexibility in the European Monetary Union: Why Small Countries Have more Flexible Labor Markets
Zemanek, Holger - Volkswirtschaftliche Fakultät, … - 2009
This paper explores the impact of country size on labor market flexibility in a monetary union with a common monetary policy as conducted in EMU. I apply a Barro-Gordon framework and test its result empirically for EMU. Results confirm that small countries demand higher labor market flexibility...
Persistent link: https://www.econbiz.de/10005029690