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Interest rate bands of inaction and play-hysteresis in domestic investment : evidence for the euro area

Belke, Ansgar; Frenzel Baudisch, Coletta; Göcke, Matthias - 2019

The interest rate represents an important monetary policy tool to steer investment in order to reach price stability …. Therefore, implications of the exact form and magnitude of the interest rate-investment nexus for the European Central Bank … impact of changes in the interest rate on macroeconomic investment under certainty and under uncertainty to investigate …

Persistent link: https://www.econbiz.de/10012063971

Interest rate hysteresis in macroeconomic investment under uncertainty

Belke, Ansgar; Göcke, Matthias - 2019

The interest rate is generally considered as an important driver of macroeconomic investment. As an innovation, this … paper derives the exact shape of the "hysteretic" impact of changes in the interest rate on macroeconomic investment under … capital stock and, explicitly, of stochastic changes on the interest rate-investment hysteresis. Starting with hysteresis …

Persistent link: https://www.econbiz.de/10012031139

Beyond Balassa and Samuelson : real convergence, capital flows, and competitiveness in Greece

Belke, Ansgar; Haskamp, Ulrich; Schnabl, Gunther; … - 2015

We scrutinize the role of capital flows in competitiveness in a set of seven euro-area member countries (Estonia, Greece, Latvia, Lithuania, Portugal, Slovenia, and the Slovak Republic) in the context of real convergence and crisis. A specific focus is on Greece. The paper extends the seminal...

Persistent link: https://www.econbiz.de/10011443937

Current account imbalances in the euro area : catching up or competitiveness?

Belke, Ansgar; Dreger, Christian - 2011

In the debate on global imbalances, the euro area countries did not receive much attention so far. While the current account is on balance for the entire area, divergences between individual member states have increased since the introduction of the common currency. In this paper, the imbalances...

Persistent link: https://www.econbiz.de/10010209436

The yen exchange rate and the hollowing out of the Japanese industry

Belke, Ansgar; Volz, Ulrich - 2019

Since the demise of the Bretton Woods system, the yen has seen several episodes of strong appreciation, including in the late 1970s, after the 1985 Plaza Agreement, the early and late 1990s and after 2008. These appreciations have not only been associated with "expensive yen recessions"...

Persistent link: https://www.econbiz.de/10012063963