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The Impact of Demand and Supply Shocks on Inflation. Evidence For The Us and The Euro Area
Dreger, Christian - 2023
paper investigates the role of demand and supply shocks behind this process. Structural VAR models are specified for the US … and the euro area. Shocks are identified by sign restrictions and external instruments. Demand shocks dominate in the US … inflation due to their adverse effects on demand. However, supply factors are beyond the control of central banks. Thus …
Persistent link: https://www.econbiz.de/10014257604
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Die Zinsstruktur - Instrument der Geldpolitik?
Dreger, Christian - 1997
Persistent link: https://www.econbiz.de/10000958148
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Monetäre Modelle der Wechselkurserklärung
Dreger, Christian - 1996
Persistent link: https://www.econbiz.de/10000923735
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Die empirische Umsetzung der makroökonomischen Produktionstheorie : Möglichkeiten und Grenzen
Dreger, Christian; Schumacher, Christian - 1999
Persistent link: https://www.econbiz.de/10001354570
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Local and spatial cointegration in the wage curve : a spatial panel analysis for German regions
Kosfeld, Reinhold; Dreger, Christian - 2015
The wage curve introduced by Blanchflower and Oswald (1990, 1994) postulates a negative correlation between wages and unemployment. Empirical results focus on particular theoretical channels establishing the relationship. Panel models mostly draw on unionized bargaining or the efficiency wage...
Persistent link: https://www.econbiz.de/10011411665
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Towards an East German wage curve : NUTS boundaries, labour market regions and unemployment spillovers
Kosfeld, Reinhold; Dreger, Christian - 2017
The relevance of spatial effects in the wage curve can be rationalized by the model of monopsonistic competition in regional labour markets. However, distortions in extracting the regional unemployment effects arise in standard regional (i.e. NUTS) classifications as they fail to adequately...
Persistent link: https://www.econbiz.de/10011704322
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Does public investment stimulate private investment? : evidence for the euro area
Dreger, Christian; Reimers, Hans-Eggert - In: Economic modelling 58 (2016), pp. 154-158
Persistent link: https://www.econbiz.de/10011647077
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On the empirical relevance of the Lucas critique : the case of euro area money demand
Dreger, Christian; Wolters, Jürgen - 2016
This paper examines the relevance of the Lucas critique for euro area money demand. Based on the money in the utility … times of policy shifts. A well defined equation for money demand is obtained. The results indicate that the evolution of M3 … is still in line with money demand. In the long run, inflation is affected by asset prices and detrended output. Our …
Persistent link: https://www.econbiz.de/10011659976
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Is there a bubble in the Chinese housing market?
Dreger, Christian; Zhang, Yanqun - 2011
For many analysts, the Chinese economy is spurred by a bubble in the housing market, probably driven by the fiscal stimulus package and massive credit expansion, with possible adverse effects to the real economy. For example, the stock of loans increased by more than 50 percent since the end of...
Persistent link: https://www.econbiz.de/10011550681
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Re-vitalizing money demand in the euro area : still valid at the zero lower bound
Dreger, Christian; Gerdesmeier, Dieter; Roffia, Barbara - 2016
The analysis of monetary developments have always been a cornerstone of the ECB’s monetaryanalysis and, thus, of its overall monetary policy strategy. In this respect, money demandmodels provide a framework for explaining monetary developments and assessing price stabilityover the medium term....
Persistent link: https://www.econbiz.de/10011532681