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Was ECB's Monetary Policy Optimal?
Breuss, Fritz - 2002
Overall, the ECB managed monetary policy quite satisfactory in the first phase of EMU. Nevertheless, this paper asks whether monetary policy could not have been improved. In the last three years, Euroland was confronted with the first external shock. Oil prices increased considerably, leading to...
Persistent link: https://www.econbiz.de/10011435104
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The performance and robustness of interest-rate rules in models of the euro area
Adalid, Ramón; Coenen, Günter; McAdam, Peter; … - 2005
In this paper, we examine the performance and robustness of optimised interest-rate rules in four models of the euro …
Persistent link: https://www.econbiz.de/10011604525
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Does government spending crowd in private consumption? Theory and empirical evidence for the euro area
Coenen, Günter; Straub, Roland - 2005
-Keynesian DSGE model of the euro area featuring non-Ricardian households. Employing Bayesian inference methods, we show that the …
Persistent link: https://www.econbiz.de/10011604559
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International transmission and monetary policy cooperation
Coenen, Günter; Lombardo, Giovanni; Smets, Frank; … - 2008
. Our results show that given the current degree of openness of the US and euro area economies, the gains from monetary …
Persistent link: https://www.econbiz.de/10011604904
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Economic Policy Coordination in the EMU. How Much Scope will There be Within the Framework of the Stability and Growth Pact?
Breuss, Fritz; Weber, Andrea - 1999
coordinate their fiscal policy with the monetary policy of the ECB the welfare gains are very large for the whole Euro zone …
Persistent link: https://www.econbiz.de/10011435046
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Globalization, EU Enlargement and Income Distribution
Breuss, Fritz - 2007
Advanced industrial countries have been exhibiting a steady decline of the labour income shares in the last two decades. The study explains this phenomenon by resorting to the old Stolper-Samuelson theorem. The conclusions concerning the impact of free trade on the income distribution are...
Persistent link: https://www.econbiz.de/10011435223
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DSGE models and their use at the ECB
Smets, Frank; Christoffel, Kai; Coenen, Günter; Motto, … - In: SERIEs - Journal of the Spanish Economic Association 1 (2010) 1/2, pp. 51-65
description of the two main aggregate euro area models at the ECB. Both models share a common core but their detailed … block, which is useful for conditioning the euro area projections on assumptions about foreign economic activity, prices and …
Persistent link: https://www.econbiz.de/10010317065