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The importance of global shocks for national policymakers : rising challenges for central banks
Belke, Ansgar; Rees, Andreas - 2009
We analyze the importance of global shocks for the global economy and national policy makers. More specifically, we investigate whether monetary policy has become less effective in the wake of financial globalization. We also examine whether there is increasing uncertainty for central banks due...
Persistent link: https://www.econbiz.de/10010207060
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Measuring fiscal spillovers in EMU and beyond : a global VAR approach
Belke, Ansgar; Osowski, Thomas - 2016
This paper identifies and measures fiscal spillovers in the EU countries empirically using a global vector autoregression (GVAR) model. Our aim is to look at the sign and the absolute values of fiscal spillovers in a country-wise perspective and at the time profile (impulse response) of the...
Persistent link: https://www.econbiz.de/10011570987
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Measuring fiscal spillovers in EMU and beyond : a global VAR approach
Belke, Ansgar; Osowski, Thomas - 2016
This paper identifies and measures fiscal spillovers in the EU countries empirically, using a structurally stable global vector autoregression (GVAR) model. For our purposes, the individual EU countries, as well as the most important international trading partners, are modelled with a special...
Persistent link: https://www.econbiz.de/10011581983
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How stable are monetary models of the dollar-euro exchange rate? : a time-varying coefficient approach
Beckmann, Joscha; Belke, Ansgar; Kühl, Michael - 2009
(the DM). We use monthly data from 1975:01 to 2007:12. Applying a novel time-varying coefficient estimation approach, we …
Persistent link: https://www.econbiz.de/10010207061
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Is euro area demand (still) stable? : cointegrated VAR versus single equation techniques
Belke, Ansgar; Czudaj, Robert - 2010
In this paper we present an empirically stable euro area money demand model. Using a sample period until 2009:2 shows that the current financial and economic crisis that started in 2007 does not appear to have any noticeable impact on the stability of the euro area money demand function. We also...
Persistent link: https://www.econbiz.de/10010208785
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International effects of euro area versus US policy uncertainty : a FAVAR approach
Belke, Ansgar; Osowski, Thomas - 2017
shock. According to our results, an increase in uncertainty has a strong negative impact on economic activity, consumer …. Uncertainty does not only impact that country where the shock originates but also has large cross-border effects. In that respect … the responses of national variables to a (foreign) uncertainty shock, indicating evidence of an international business …
Persistent link: https://www.econbiz.de/10011691548
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International effects of euro area versus US policy uncertainty : a FAVAR approach
Belke, Ansgar; Osowski, Thomas - 2017
shock. According to our results, an increase in uncertainty has a strong negative impact on economic activity, consumer …. Uncertainty does not only impact that country where the shock originates but also has large cross-border effects. In that respect … the responses of national variables to a (foreign) uncertainty shock, indicating evidence of an international business …
Persistent link: https://www.econbiz.de/10012110907
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International effects of euro area versus US policy uncertainty : a FAVAR approach
Belke, Ansgar; Osowski, Thomas - 2017
shock. According to our results, an increase in uncertainty has a strong negative impact on economic activity, consumer …. Uncertainty does not only impact that country where the shock originates but also has large cross-border effects. In that respect … the responses of national variables to a (foreign) uncertainty shock, indicating evidence of an international business …
Persistent link: https://www.econbiz.de/10011640939
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How stable are monetary models of the Dollar-Euro exchange rate? : a time-varying coefficient approach
Beckmann, Joscha; Belke, Ansgar; Kühl, Michael - 2009
(the DM). We use monthly data from 1975:01 to 2007:12. Applying a novel time-varying coefficient estimation approach, we …-periods. -- Structural exchange rate models ; cointegration ; structural breaks ; switching regression ; time-varying coefficient approach …
Persistent link: https://www.econbiz.de/10003898577
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Is euro area money demand (still) stable? : cointegrated VAR versus single equation techniques
Belke, Ansgar; Czudaj, Robert - 2010
applied for this purpose in previous studies. -- ARDL model ; cointegration ; euro area ; financial crisis ; money demand …
Persistent link: https://www.econbiz.de/10003939738