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Was ECB's monetary policy optimal?
Breuss, Fritz - 2002
Overall, the ECB managed monetary policy quite satisfactory in the first phase of EMU. Nevertheless, this paper asks whether monetary policy could not have been improved. In the last three years, Euroland was confronted with the first external shock. Oil prices increased considerably, leading to...
Persistent link: https://www.econbiz.de/10011492736
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Exchange rates and fundamentals : new evidence from real-time data
Ehrmann, Michael (contributor);  … - 2004
Persistent link: https://www.econbiz.de/10002125231
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Oil shocks and endogenous markups : results from an estimated euro area DSGE model
Sánchez, Marcelo (contributor) - 2008
This paper estimates a linearised DSGE model for the euro area. The model is New Keynesian and allows for a role for …
Persistent link: https://www.econbiz.de/10003636306
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Macroeconomic adjustment to monetary union
Fagan, Gabriel (contributor); Gaspar, Vítor (contributor) - 2008
The move to monetary union in Europe led to convergence of interest rates among the participating countries. This was associated with notable cross-country differences in the behaviour of key macroeconomic aggregates. Compared to the low interest rate countries, former high interest rate...
Persistent link: https://www.econbiz.de/10003790953
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The political economy under monetary union: has the euro made a difference?
Fratzscher, Marcel; Stracca, Livio - 2008
the euro area. Equally importantly, economies with a weaker track record in terms of economic and institutional quality … adverse political developments at home, a potential drawback is that it may provide weaker market discipline for domestic …
Persistent link: https://www.econbiz.de/10003794175
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Using intraday data to gauge financial market responses to Fed and ECB monetary policy decisions
Andersson, Magnus (contributor) - 2007
This paper examines bond and stock market volatility reactions in the euro area and the US following their respective … the US and euro area bond and stock markets are used. A strong upsurge in intraday volatility at the time of the release … policy path. The observed strong discrepancy between asset price reactions in the US and in the euro area following monetary …
Persistent link: https://www.econbiz.de/10003422693
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Modelling organic farming at sector level : an application to the reformed CAP in Austria
Schmid, Erwin (contributor); Sinabell, Franz (contributor) - 2007
Persistent link: https://www.econbiz.de/10003466921
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Maintaining low inflation : money, interest rates, and policy stance
Reynard, Samuel (contributor) - 2007
This paper presents a systematic empirical relationship between money and subsequent prices and output, using US, euro …
Persistent link: https://www.econbiz.de/10003473013
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Unconventional monetary policy and the great recession : estimating the impact of a compression in the yield spread at the zero lower bound
Baumeister, Christiane; Benati, Luca - 2010
is constrained by the zero lower bound. Two main findings stand out. First, in all the countries we analyse (U.S., Euro …
Persistent link: https://www.econbiz.de/10008688522
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Balance sheet interlinkages and macro-financial risk analysis in the Euro area
Kavonius, Ilja Kristian; Castrén, Olli - 2009
transmission processes at the systemic level. We use the euro area financial accounts (flow of funds) data to construct a sector … leverage and asset volatility. We conclude that the bilateral cross-sector exposures in the euro area financial system …
Persistent link: https://www.econbiz.de/10003969268