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Did interest rates at the zero lower bound affect lending of commercial banks? : evidence for the euro area
Belke, Ansgar; Dreger, Christian - 2019
The paper examines the bank lending activities of banks in a low interest rate environment. External financing of small- and medium-sized enterprises in the euro area primarily takes place via bank loans and not through capital markets. Based on the Bankscope database, bank balance sheet data is...
Persistent link: https://www.econbiz.de/10012063954
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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
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Does the foreign interest rate matter for monetary policy? : evidence from nonlinear Taylor rules ; conference paper
Belke, Ansgar; Beckmann, Joscha; Dreger, Christian - 2014
Deviations of policy interest rates from the levels implied by the Taylor rule have been persistent after the turn of the century even before the financial crisis. These deviations could be due to lower real interest rates, as stated by the savings glut hypothesis as well as the apparent success...
Persistent link: https://www.econbiz.de/10010485968
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Re-Vitalizing Money Demand in the Euro Area : Still Valid at the Zero Lower Bound
Dreger, Christian - 2016
The analysis of monetary developments have always been a cornerstone of the ECB's monetary analysis and, thus, of its overall monetary policy strategy. In this respect, money demand models provide a framework for explaining monetary developments and assessing price stability over the medium...
Persistent link: https://www.econbiz.de/10012983725
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Höheres Wachstum erfordert Strukturreformen
Dreger, Christian - In: DIW-Wochenbericht : Wirtschaft, Politik, Wissenschaft 76 (2009) 44, pp. 770
Persistent link: https://www.econbiz.de/10003892617
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Hysteresis and Persistence in the Course of Unemployment: The EU and US Experience
Dreger, Christian; Reimers, Hans-Eggert - 2006
We investigate hysteresis and persistence behaviour in the course of unemployment in EU countries and US states by …. Hysteresis in EU unemployment is attributed to the idiosyncratic, but not to the common component. In contrast, idiosyncratic … components are stationary in the US. If hysteresis behaviour is also relevant here, it is more likely to arise in the common …
Persistent link: https://www.econbiz.de/10010260946
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Does the nominal exchange rate regime affect the long Run properties of real exchange rates?
Dreger, Christian; Girardin, Eric - 2007
This paper examines whether the behaviour of the real exchange rate is associated with a particular regime for the nominal exchange rate, like fixed and flexible exchange rate arrangements. The analysis is based on 16 annual real exchange rates and covers a long time span, 1870-2006. Four...
Persistent link: https://www.econbiz.de/10010264984
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Does the nominal exchange rate regime affect the real interest parity condition?
Dreger, Christian - 2008
The real interest partity (RIP) condition combines two cornerstones in international finance, uncovered interest parity (UIP) and ex ante purchasing power parity (PPP). The extent of deviation from RIP is therefore an indicator of the lack of product and financial market integration. This paper...
Persistent link: https://www.econbiz.de/10010291771
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Hysteresis and Persistence in the Course of Unemployment: The EU and US Experience
Dreger, Christian; Reimers, Hans-Eggert - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2006
We investigate hysteresis and persistence behaviour in the course of unemployment in EU countries and US states by …. Hysteresis in EU unemployment is attributed to the idiosyncratic, but not to the common component. In contrast, idiosyncratic … components are stationary in the US. If hysteresis behaviour is also relevant here, it is more likely to arise in the common …
Persistent link: https://www.econbiz.de/10005068810
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Does the nominal exchange rate regime affect the real interest parity condition?
Dreger, Christian - 2010
The real interest parity (RIP) condition combines two cornerstones in international finance, uncovered interest parity (UIP) and ex ante purchasing power parity (PPP). The extent of deviation from RIP is therefore an indicator of the lack of product and financial market integration. This paper...
Persistent link: https://www.econbiz.de/10011374381