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Monetary Policy in Japan, Germany and the United States : Does One Size Fit All?

Chinn, Menzie David; Dooley, Michael P. - 2021

We study the post-war evidence for Japan to see if the same specification for both the economy and the monetary policy … rule is useful for understanding Japan's economy and monetary policy. A recurrent theme in the literature on Japanese … that, with minor adjustments, the same specification provides a useful framework for understanding monetary policy in Japan …

Persistent link: https://www.econbiz.de/10013245712

Political Credit Cycles : The Case of the Euro Zone

Fernández-Villaverde, Jesús - 2013

We study the mechanisms through which the adoption of the Euro delayed, rather than advanced, economic reforms in the Euro zone periphery and led to the deterioration of important institutions in these countries. We show that the abandonment of the reform process and the institutional...

Persistent link: https://www.econbiz.de/10013084731

Mpc Heterogeneity in Europe : Sources and Policy Implications

Ampudia, Miguel - 2018

This paper studies the implications of household financial choices for the effects of monetary policy on consumption. Based on data from four major euro area countries, the paper estimates the key structural parameters using a simulated method of moments approach to match moments related to...

Persistent link: https://www.econbiz.de/10012910644

Wage Gaps vs. Output Gaps : is There a Common Story for All of Europe?

Gordon, Robert J. - 2010

Persistent link: https://www.econbiz.de/10012760232

The Eurocrisis : Muddling Through, or on the Way to a More Perfect Euro Union?

Aizenman, Joshua - 2014

This paper looks at the short history of the Eurozone through the lens of an evolutionary approach to forming new institutions. The euro has operated as a currency without a state, under the dominance of Germany. This has so far allowed the euro to achieve a number of design objectives, and this...

Persistent link: https://www.econbiz.de/10013052139

Global Production with Export Platforms

Tintelnot, Felix - 2016

Most international commerce is carried out by multinational firms, which use their foreign affiliates both to serve the market of the host country and to export to other markets outside the host country. In this paper, I examine the determinants of multinational firms' location and production...

Persistent link: https://www.econbiz.de/10012992631

Expected and Predicted Realignments : The Ff/Dm Exchange Rate During the EMS

Rose, Andrew Kenan; Svensson, Lars E. O. - 2021

An empirical model of time-varying realignment risk in an exchange rate target zone is developed. Expected rates of devaluation are estimated as the difference between interest race differentials and estimated expected rates of depreciation within the exchange rate band, using French...

Persistent link: https://www.econbiz.de/10013217941

Incentive Effects of Social Security on Labor Force Participation : Evidence in Germany and Across Europe

Börsch-Supan, Axel H. - 2021

All across Europe, old age labor force participation has declined dramatically during the last decades. This secular trend coincides with population aging. The European social security systems therefore face a double threat: retirees receive pensions for a longer time while there are less...

Persistent link: https://www.econbiz.de/10013219975

Exchange Rate Fundamentals and Order Flow

Evans, Martin D.D; Lyons, Richard K. - 2021

We address whether transaction flows in foreign exchange markets convey fundamental information. Our GE model includes fundamental information that first manifests at the micro level and is not symmetrically observed by all agents. This produces foreign exchange transactions that play a central...

Persistent link: https://www.econbiz.de/10013224432

The Transmission Mechanism of Monetary Policy in Europe : Evidence from Banks' Balance Sheets

Favero, Carlo A.; Giavazzi, Francesco; Flabbi, Luca - 2021

Available studies on asymmetries in the monetary transmission mechanism within Europe are invariably based on macro-economic evidence: such evidence is abundant but often contradictory. This paper takes a different route by using micro-economic data. We use the information contained in the...

Persistent link: https://www.econbiz.de/10013235277

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