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Barsky, Robert - 2009

innovations, and negatively correlated with inflation innovations. The disinflationary nature of news shocks is consistent with …

Persistent link: https://www.econbiz.de/10013156463

Money and Inflation in the Euro Area : A Case for Monetary Indicators?

Gerlach, Stefan; Svensson, Lars E. O. - 2021

This paper studies the relationship between inflation, output, money and interest rates in the euro area, using data … power for future inflation. The real money gap contains more information about future inflation than the output gap and the … Eurosystem's money-growth indicator is an inferior indicator of future inflation …

Persistent link: https://www.econbiz.de/10013312477

Eurowinners and Eurolosers : The Distribution of Seigniorage Wealth in Emu

Sinn, Hans-Werner - 2010

The European Monetary Union (EMU) will involve socialization of the existing seigniorage wealth of the national central banks, because the Euro will have to be bought by these banks in exchange for assets which have been accumulated in the historical process of money creation. This socialization...

Persistent link: https://www.econbiz.de/10012763579

Winners and Losers of Tax Competition in the European Union

Mendoza, Enrique G.; Tesar, Linda L. - 2021

This paper quantifies the macroeconomic effects of capital income tax competition in the European Union using a two-country neoclassical dynamic general equilibrium model. This model incorporates three key externalities of tax competition: the relative price externality, the wealth distribution...

Persistent link: https://www.econbiz.de/10013222999

Monnet's Error?

Guiso, Luigi - 2015

-Europe sentiment as does the 2010 Eurozone crisis. Yet, in spite of the worst recession in recent history, the Europeans still support …

Persistent link: https://www.econbiz.de/10013023682

Re-Evaluating Swedish Membership in Emu : Evidence from an Estimated Model

Söderström, Ulf - 2021

inflation and GDP growth might have been slightly higher if Sweden had been a member of EMU since the launch in 1999, but also …I revisit the potential costs and benefits for Sweden of joining the Economic and Monetary Union (EMU) of the European … in the monetary union would be advantageous for Sweden …

Persistent link: https://www.econbiz.de/10013243957

Money and Interest Rates in the United States During the Great Depression

Basile, Peter - 2010

This paper reexamines the debate over whether the United States fell into a liquidity trap in the 1930s. We first review the literature on the liquidity trap focusing on Keynes's discussion of "absolute liquidity preference" and the division that soon emerged between Keynes, who believed that a...

Persistent link: https://www.econbiz.de/10013139970

Money Matters : Broad Divisia Money and the Recovery of Nominal GDP from the Covid-19 Recession

Bordo, Michael D.; Duca, John V. - 2023

The rise of inflation in 2021 and 2022 surprised many macroeconomists who ignored the earlier surge in money growth …-term nominal GDP growth and inflationary pressures as monetary policy tightening seeks to restore low inflation …

Persistent link: https://www.econbiz.de/10014346628

Cúrdia, Vasco - 2010

The dynamic stochastic general equilibrium (DSGE) models that are used to study business cycles typically assume that exogenous disturbances are independent autoregressions of order one. This paper relaxes this tight and arbitrary restriction, by allowing for disturbances that have a rich...

Persistent link: https://www.econbiz.de/10013147368

Regional Nonadjustment and Fiscal Policy : Lessons for Emu

Obstfeld, Maurice; Peri, Giovanni - 2021

How will countries handle idiosyncratic national macroeconomic shocks under the European single currency? The ways in which European countries now react to internally asymmetric shocks provide a better forecast than do the regional response pattern of the United States. In this paper we compare...

Persistent link: https://www.econbiz.de/10013249688

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