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Feedback to the ECB's monetary analysis : the bank of Russia's experience with some key tools

Ponomarenko, Alexey; Vasilʹeva, Elena; Schobert, Franziska - 2012

Persistent link: https://www.econbiz.de/10009765969

Globalisation and the efficiency-equity trade-off

Beck, Roland; Di Nino, Virginia; Stracca, Livio - 2021

We revisit the effects of globalisation over the past 50 years in a large sample of advanced and emerging countries. We use accessions to \Globalisation Clubs" (WTO, OECD, EU), financial liberalisation and an instrument for trade openness to study the trade-off between efficiency (proxied by...

Persistent link: https://www.econbiz.de/10012511089

Are there oil currencies? : the real exchange rate of oil exporting countries

Habib, Maurizio Michael (contributor); … - 2007

-exporting countries: Norway, Russia and Saudi Arabia. We create our measure of the real effective exchange rates for Norway and Saudi … Arabia (1980-2006) and for Russia (1995-2006), testing if real oil prices and productivity differentials against 15 OECD … countries influence exchange rates. In the case of Russia it is possible to establish a positive long-run relationship between …

Persistent link: https://www.econbiz.de/10003599588

Fiscal variables and bond spreads : evidence from eastern European countries and Turkey

Nickel, Christiane; Rother, Philipp C.; Ruelke, … - 2009

, Hungary, Poland, Russia and Turkey from May 1998 to December 2007. To account for the importance of market expectations we use …

Persistent link: https://www.econbiz.de/10003963785

Optimal reserve composition in the presence of sudden stops : the euro and the dollar as safe haven currencies

Beck, Roland (contributor); Rahbari, Ebrahim (contributor) - 2008

We analytically derive optimal central bank portfolios in a minimum variance framework with two assets and "transaction demands" caused by sudden stops in capital inflows. In this model, the transaction demands become less important relative to traditional portfolio objectives as debt to reserve...

Persistent link: https://www.econbiz.de/10003782664

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

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

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

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

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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