Narrow search
Showing 1 - 10 of 491
Cover Image
Macroeconomic Effects of a Low-Carbon Electricity Transition in Kenya and Ghana : An Exploratory Dynamic General Equilibrium Analysis
Willenbockel, Dirk - 2019
The present study applies purpose-built dynamic computable general equilibrium models for Ghana and Kenya with a disaggregated country-specific representation of the power sector to simulate the prospective medium-run growth and distributional implications associated with a shift towards a...
Persistent link: https://www.econbiz.de/10012894601
Cover Image
The failure of financial macroeconomics and what to do about it
Chatelain, Jean-Bernard; Ralf, Kirsten - Volkswirtschaftliche Fakultät, … - 2012
The bargaining power of international banks is currently still very high as compared to what it was at the time of the Bretton Woods conference. As a consequence, systemic financial crises are likely to remain recurrent phenomena with large effects on macroeconomic aggregates. Mainstream...
Persistent link: https://www.econbiz.de/10011257997
Cover Image
The Nigerian economy and monetary policy: Some simple empirics
Omotor, Douglason G. - Volkswirtschaftliche Fakultät, … - 2009
The paper sets out to determine the impact of monetary policy on the Nigerian economy during the post-reform period using annual series data (1986 – 2006). Trend discussion of some basic macroeconomic indicators on the Nigerian economy among others reveal that (a) the Central Bank of Nigeria...
Persistent link: https://www.econbiz.de/10009132736
Cover Image
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
Cover Image
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
Cover Image
The Instability in the Monetary Policy Reaction Function and the Estimation of Monetary Policy Shocks
Kishor, N. Kundan; Newiak, Monique - Volkswirtschaftliche Fakultät, … - 2009
paper show that a monetary policy shock in the pre-1979 period affects output and prices much more strongly and quickly than … prices to a monetary policy shock declined significantly between 1980-2001. We argue that this diminished response to the … monetary policy shock is the result of a successful monetary policy that has led to a less volatile economy. …
Persistent link: https://www.econbiz.de/10008459820
Cover Image
Regime-dependent effects of monetary policy shocks. Evidence from threshold vector autoregressions
Mandler, Martin - Volkswirtschaftliche Fakultät, … - 2010
This paper studies regime dependence in the effects of monetary policy shocks for the U.S. using a threshold vector autoregressive model. In a high inflation regime the standard results from the literature obtain. In a low inflation regime output shows no significant response to monetary policy...
Persistent link: https://www.econbiz.de/10008562623
Cover Image
Understanding the Sims-Cogley-Nason Approach in A Finite Sample
Liu, Lin; Hussain, Syed - Volkswirtschaftliche Fakultät, … - 2013
Kehoe2006 advocates that in evaluating an economic model, the Sims-Cogley-Nason (SCN) approach should be adopted in which empirical impulse responses are compared to those obtained from the identical structural VAR run on model generated data of the same length as actual observations. This paper...
Persistent link: https://www.econbiz.de/10011111871
Cover Image
Spatial Dynamic Panel Model and System GMM: A Monte Carlo Investigation
Kukenova, Madina; Monteiro, Jose-Antonio - Volkswirtschaftliche Fakultät, … - 2008
This paper investigates the �finite sample properties of estimators for spatial dynamic panel models in the presence of several endogenous variables. So far, none of the available estimators in spatial econometrics allows considering spatial dynamic models with one or more endogenous...
Persistent link: https://www.econbiz.de/10011267894
Cover Image
Indirect estimation of GARCH models with alpha-stable innovations
Parrini, Alessandro - Volkswirtschaftliche Fakultät, … - 2012
Several studies have highlighted the fact that heavy-tailedness of asset returns can be the consequence of conditional heteroskedasticity. GARCH models have thus become very popular, given their ability to account for volatility clustering and, implicitly, heavy tails. However, these models...
Persistent link: https://www.econbiz.de/10011260772