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Reporting biases and survey results : evidence from European professional forecasters
Garcia, Juan Angel (contributor);  … - 2007
Using data from the ECB's Survey of Professional Forecasters, we investigate the reporting practices of survey … inflation rates. Most importantly, for each survey round, the aggregate survey results based on the average of the individual … point predictions are also biased. These findings cast doubt on combined survey measures that average individual point …
Persistent link: https://www.econbiz.de/10003599569
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Monetary policy communication : perspectives from former policy makers at the ECB
Ehrmann, Michael; Holton, Sarah; Kedan, Danielle; … - 2021
This paper reports the results of a survey of former members of the Governing Council of the European Central Bank … the ambiguity of the "below, but close to, 2%" formulation that was in place at the time of the survey. …
Persistent link: https://www.econbiz.de/10012705527
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Nominal wage rigidity in the EU countries before and after the Great Recession : evidence from the WDN surveys
Branten, Eva; Lamo, Ana; Rõõm, Tairi - 2018
This paper studies the recent trends in nominal wage rigidity in a large group of EU countries, using survey data. We …
Persistent link: https://www.econbiz.de/10011864159
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Shocks and labour cost adjustment : evidence from a survey of European firms
Mathä, Thomas; Millard, Stephen Patrick; Rõõm, Tairi; … - 2019
We use firm-level survey data from 25 EU countries to analyse how firms adjust their labour costs (employment, wages …
Persistent link: https://www.econbiz.de/10011997513
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Government deficits, wealth effects and the price level in an optimizing model
Annicchiarico, Barbara - 2003
This paper investigates the in inflationary effects of fscal policy in an optimizing general equilibrium monetary model with capital accumulation, exible prices and wealth effects. The model is calibrated to Euro Area quarterly data. Simulation results show that government defcits, high debt...
Persistent link: https://www.econbiz.de/10009635879
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Country and sector-specific spillover effects in the euro area, the United States and Japan
Kaltenhaeuser, Bernd - 2003
Within a two-step GARCH framework we explore the linkages between equity returns of ten sectors in the euro area, the United States and Japan, respectively. Our estimation framework allows a distinction to be made between spillover effects originating from one of the three currency areas and...
Persistent link: https://www.econbiz.de/10009635881
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Inflation persistence and robust monetary policy design
Coenen, Günter - 2003
This paper investigates the performance of optimised interest rate rules when there is uncertainty about a key determinant of the monetary transmission mechanism, namely the degree of persistence characterising the inflation process. The paper focuses on the euro area and utilises two variants of...
Persistent link: https://www.econbiz.de/10009635885
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US, Japan and the euro area
McAdam, Peter - 2003
There has been much discussion of the differences in macroeconomic performance and prospects between the US, Japan and the euro area. Using Markov-switching techniques, in this paper we identify and compare specifically their major business-cycle features and examine the case for a common...
Persistent link: https://www.econbiz.de/10009635889
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Short-term estimates of euro area real GDP by means of monthly data
Rünstler, Gerhard; Sédillot, Franck - 2003
The first official data releases of quarterly real GDP for the euro area are published about eight weeks after the end of the reference quarters. Meanwhile, ongoing economic developments must be assessed from various, more readily available, monthly indicators. We examine in the context of...
Persistent link: https://www.econbiz.de/10009635895
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Relevant economic issues concerning the optimal rate of inflation
Rodriguez-Palenzuela, Diego; Camba-Mendez, Gonzalo; … - 2003
This paper reviews the key economic issues concerning the welfare costs of inflation and deflation, with a view to shedding light on the desirable properties of the inflation process. Our review of the evidence on the overall costs of inflation and deflation indicates that such costs could be...
Persistent link: https://www.econbiz.de/10009635897