Narrow search
Showing 1 - 10 of 143
Cover Image
Global economic recovery progresses overall
Gern, Klaus-Jürgen; Hauber, Philipp; Kooths, Stefan; … - 2020
In the third quarter of 2020, the global economy rebounded strongly from the steep fall in output suffered in the first half of the year amid the covid-19 pandemic. Currently, the recovery is being slowed down by another wave of infections and policy measures to contain it, but on aggregate...
Persistent link: https://www.econbiz.de/10012392680
Cover Image
Gradual recovery after partial rebound
Gern, Klaus-Jürgen; Hauber, Philipp; Kooths, Stefan; … - 2020
The world economy contracted by close to 10 percent in the first half of 2020 as the COVID-10 pandemic unfolded. After a 3 percent drop in activity in the first quarter, global output contacted by some 7 percent as governments around the world implemented measures to contain the virus and...
Persistent link: https://www.econbiz.de/10012302343
Cover Image
Effects of state-dependent forward guidance, large-scale asset purchases and fiscal stimulus in a low-interest-rate environment
Coenen, Günter; Montes-Galdon, Carlos; Smets, Frank - 2020
We study the incidence and severity of lower-bound episodes and the efficacy of three types of state-dependent policies - forward guidance about the future path of interest rates, large-scale asset purchases and spending-based fiscal stimulus - in ameliorating the adverse consequences stemming...
Persistent link: https://www.econbiz.de/10012137689
Cover Image
Effects of state-dependent forward guidance, large-scale asset purchases and fiscal stimulus in a low-interest-rate environment
Coenen, Günter; Montes-Galdón, Carlos; Smets, Frank - 2020
We study the incidence and severity of lower-bound episodes and the efficacy of three types of state-dependent policies - forward guidance about the future path of interest rates, large-scale asset purchases and spending-based fiscal stimulus - in ameliorating the adverse consequences stemming...
Persistent link: https://www.econbiz.de/10012149021
Cover Image
Effects of state-dependent forward guidance, large-scale asset purchases and fiscal stimulus in a low-interest-rate environment
Coenen, Günter; Montes-Galdón, Carlos; Smets, Frank - 2019
Persistent link: https://www.econbiz.de/10012132243
Cover Image
Finanz- und Wirtschaftspolitik bei einer anhaltenden monetären Expansion
Kooths, Stefan; Schwarzmüller, Tim; Scheide, Joachim; … - 2014
In Reaktion auf die Finanzkrise hat das Eurosystem seine Geldpolitik massiv gelockert. So hat die Europäische … budgets in several countries of the euro area. This has led to large liquidity flows into Germany. This situation is expected … to continue for some time to come. With huge amounts of excess liquidity already accumulated in the German banking sector …
Persistent link: https://www.econbiz.de/10010343472
Cover Image
Unconventional monetary policy tools : a cross-country analysis
Potter, Simon M. (contributor); Smets, Frank (contributor) - Bank für Internationalen Zahlungsausgleich / Committee … - 2019
Persistent link: https://www.econbiz.de/10012123203
Cover Image
Output gap uncertainty : does it matter for the taylor rule?
Smets, Frank - 1998
Persistent link: https://www.econbiz.de/10013431831
Cover Image
Forecasting with a Bayesian DSGE model : an application to the euro area
Smets, Frank; Wouters, Rafael - 2004
In monetary policy strategies geared towards maintaining price stability conditional and unconditional forecasts of inflation and output play an important role. In this paper we illustrate how modern sticky-price dynamic stochastic general equilibrium (DSGE) models, estimated using Bayesian...
Persistent link: https://www.econbiz.de/10003285769
Cover Image
World economy winter 2021: temporary slowdown
Gern, Klaus-Jürgen; Reents, Jan; Kooths, Stefan; … - 2021
Following an encouraging first half of the year, the recovery of the global economy has lost momentum. Across the globe, resurging Covid-19 infections weighed on economic activity. Supply chain disruptions prevented a further expansion of global industrial production, and the fast-moving...
Persistent link: https://www.econbiz.de/10012805890