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Unemployment as a Target for Central Banks? The Case of Hysteresis
Belke, Ansgar - In: Credit and Capital Markets – Kredit und Kapital 51 (2018) 4, pp. 587-619
of weak demand can lead to rising structural unemployment and a permanently lower capital stock – the hysteresis effects … Blanchard and Summers type of hysteresis approach should not be taken one-to-one into recommendations for monetary policy …. Merely referring to the hard form of "reverse hysteresis" and pressing for bold counter-cyclical monetary (and fiscal …
Persistent link: https://www.econbiz.de/10014524305
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Unemployment as a target for central banks? : the case of hysteresis
Belke, Ansgar - In: Credit and capital markets : Kredit und Kapital 51 (2018) 4, pp. 587-619
Persistent link: https://www.econbiz.de/10011975096
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Exports and capacity constraints : evidence for several euro area countries
Belke, Ansgar; Oeking, Anne; Setzer, Ralph - 2015
evidence of the importance of sunk costs and hysteresis in international trade. …
Persistent link: https://www.econbiz.de/10011300368
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Export hysteresis, capacity constraints and uncertainty : a smooth-transition analysis for euro area member countries
Belke, Ansgar; Wagemester, Jan - 2017
We argue that, under certain conditions described by a sunk cost hysteresis model, firms consider exports as a … evidence of the importance of sunk costs and hysteresis in international trade in these EMU member countries. What is more, our … and Portugal) the results underscore the empirical validity of the export hysteresis under uncertainty model. …
Persistent link: https://www.econbiz.de/10011718600
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Exports and capacity constraints - a smooth transition regression model for six euro area countries
Belke, Ansgar; Oeking, Anne; Setzer, Ralph - 2014
for Spain, Portugal and Italy providing evidence of the importance of sunk costs and hysteresis in international trade. …
Persistent link: https://www.econbiz.de/10011605785
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Exports and Capacity Constraints: Evidence for Several Euro Area Countries
Belke, Ansgar; Oeking, Anne; Setzer, Ralph - 2015
evidence of the importance of sunk costs and hysteresis in international trade. …
Persistent link: https://www.econbiz.de/10011307117
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Export Hysteresis, Capacity Constraints and Uncertainty: A Smooth-Transition Analysis for Euro Area Member Countries
Belke, Ansgar; Wagemester, Jan - 2017
We argue that, under certain conditions described by a sunk cost hysteresis model, firms consider exports as a … evidence of the importance of sunk costs and hysteresis in international trade in these EMU member countries. What is more, our … and Portugal) the results underscore the empirical validity of the export hysteresis under uncertainty model. …
Persistent link: https://www.econbiz.de/10011744940
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Exchange Rate Uncertainty and the German Labour Market: A Cointegration Application of the ARDL Approach
Belke, Ansgar - In: Ekonomia 5 (2001) 1, pp. 8-46
This paper empirically assesses the impact of OECD exchange rate uncertainty on German employment claimed by real option theory. Since orders of integration of regressors are not exactly known, a new bounds procedure is applied to test for cointegrating relationships among macroeconomic labour...
Persistent link: https://www.econbiz.de/10005528090
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Money and inflation: Lessons from the US for ECB monetary policy
Belke, Ansgar; Polleit, Thorsten - 2007
We turn our attention to the role of money for determining nominal magnitudes. Using US data, we find that the aggregate 'nominal output plus and stock market capitalisation' is closely related to the money stock, lending support to one of Milton Friedman's key monetarist propositions. This...
Persistent link: https://www.econbiz.de/10010327296
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What drives updates of inflation expectations? A Bayesian VAR analysis for the G-7 countries
Belke, Ansgar; Beckmann, Joscha; Dubova, Irina - 2018
Inflation expectations play a crucial role for monetary policy transmission, having become even more important since the emergence of unconventional monetary policy. Based on survey data provided by Consensus Economics, we assess determinants of professional inflation expectations for the G7...
Persistent link: https://www.econbiz.de/10011892023