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Central bank liquidity provision, risk-taking and economic efficiency
Bindseil, Ulrich; Jabłecki, Juliusz - 2013
Persistent link: https://www.econbiz.de/10009766427
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Identifying the role of labor markets for monetary policy in an estimated DSGE model
Christoffel, Kai (contributor); Kuester, Keith (contributor) - 2006
We focus on a quantitative assessment of rigid labor markets in an environment of stable monetary policy. We ask how wages and labor market shocks feed into the inflation process and derive monetary policy implications. Towards that aim, we structurally model matching frictions and rigid wages...
Persistent link: https://www.econbiz.de/10003337206
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Globalisation and the efficiency-equity trade-off
Beck, Roland; Di Nino, Virginia; Stracca, Livio - 2021
study the trade-off between efficiency (proxied by real GDP per capita and TFP) and equity (proxied by the labour share of …
Persistent link: https://www.econbiz.de/10012511089
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Public sector efficiency : evidence for new EU member states and emerging markets
Afonso, António (contributor);  … - 2006
In this paper we analyse public sector efficiency in the new member states of the European Union compared to that in … emerging markets. After a conceptual discussion of expenditure efficiency measurement issues, we compute efficiency scores and … rankings by applying a range of measurement techniques. The study finds that expenditure efficiency across new EU member states …
Persistent link: https://www.econbiz.de/10003274690
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Public sector efficiency : an international comparison
Afonso, António (contributor);  … - 2003
Persistent link: https://www.econbiz.de/10001792743
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Which news moves the euro area bond market?
Andersson, Magnus (contributor);  … - 2006
This paper explores a long dataset (1999-2005) of intraday prices on German long-term bond futures and examines market responses to major macroeconomic announcements and ECB monetary policy releases. In general, adjustments in prices are quick and new information is usually incorporated into...
Persistent link: https://www.econbiz.de/10003337172
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Opting out of the Great Inflation : German monetary policy after the break down of Bretton Woods
Beyer, Andreas; Gaspar, Vítor; Gerberding, Christina - 2009
banking. Germany achieved a high degree of domestic stability and provided safe haven for investors in times of turmoil in the …
Persistent link: https://www.econbiz.de/10003831853
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Futures contract rates as monetary policy forecasts
Ferrero, Giuseppe; Nobili, Andrea - 2008
The prices of futures contracts on short-term interest rates are commonly used by central banks to gauge market expectations concerning monetary policy decisions. Excess returns - the difference between futures rates and the realized rates - are positive, on average, and statistically...
Persistent link: https://www.econbiz.de/10003826011
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Global policy at the zero lower bound in a large-scale DSGE model
Gomes, Sandra; Jacquinot, Pascal; Mestre, Ricardo - 2010
The purpose of this paper is to analyse whether fiscal policies can alleviate the effects of the zero lower bound (ZLB) on interest rates and if they should be coordinated internationally. The analysis is carried out using EAGLE, a DSGE model of the global economy. We consider that the fiscal...
Persistent link: https://www.econbiz.de/10008688538
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Would the Bundesbank have prevented the Great Inflation in the United States?
Benati, Luca - 2009
that the Bundesbank - which is near-universally credited for sparing West Germany the Great Inflation - would also not have …
Persistent link: https://www.econbiz.de/10003969295