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Studying international spillovers in a New Keynesian continuous time framework with financial markets
Hayo, Bernd; Niehof, Britta - 2013 - This version September 10, 2013
In light of the recent financial and real economic crisis, it seems clear that macroeconomists need to better account for the influence of financial markets. This paper explores the consequences of treating the interaction between different financial markets, monetary policy, and the real...
Persistent link: https://www.econbiz.de/10010126892
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Bank of Canada communication and the predictability of Canadian monetary policy
Hayo, Bernd; Neuenkirch, Matthias - 2009
We explain changes in the Canadian target rate using macroeconomic variables and Bank of Canada (BOC) communication indicators. Econometrically, we employ an ordered probit model of a Taylor rule to predict 60 target rate decisions between 1998 and 2006. We find that BOC communication is...
Persistent link: https://www.econbiz.de/10003889007
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Monetary policy in the Euro area: Lessons from the first years
Clausen, Volker; Hayo, Bernd - 2002
This paper investigates in a consistent semi-structural empirical framework three current issues of monetary policy in the euro area. First, regarding policy transmission we offer a three-stage procedure to combine the efficient estimation of economic structure prior to EMU with current ECB...
Persistent link: https://www.econbiz.de/10010301118
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Monetary policy in the Euro area : lessons from the first years
Clausen, Volker; Hayo, Bernd - 2002
This paper investigates in a consistent semi-structural empirical framework three current issues of monetary policy in the euro area. First, regarding policy transmission we offer a three-stage procedure to combine the efficient estimation of economic structure prior to EMU with current ECB...
Persistent link: https://www.econbiz.de/10010515674
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Relative-price changes and demand factors in the period of quantitative easing in Japan
Hayo, Bernd; Ono, Hiroyuki - 2010
Concentrating on the period of quantitative easing in Japan, this paper reexamines the correlation between the … asymmetry of sectoral relative-price changes and the aggregate inflation rate. This correlation is widely interpreted as … evidence that short-run inflation is determined by supply-side factors; however, we study whether, in addition to the inflation …
Persistent link: https://www.econbiz.de/10010281467
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Relative-price changes and demand factors in the period of quantitative easing in Japan
Hayo, Bernd; Ono, Hiroyuki - 2010
Concentrating on the period of quantitative easing in Japan, this paper reexamines the correlation between the … asymmetry of sectoral relative-price changes and the aggregate inflation rate. This correlation is widely interpreted as … evidence that short-run inflation is determined by supply-side factors; however, we study whether, in addition to the inflation …
Persistent link: https://www.econbiz.de/10008695560
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Analysis of monetary policy responses after financial market crises in a continuous time New Keynesian Model
Hayo, Bernd; Niehof, Britta - 2014 - This version: 24 March 2014
monetary policy objective. We find that for the price of a strong hike in inflation a severe economic recession can be avoided …
Persistent link: https://www.econbiz.de/10010336205
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Documentation paper: representative survey on attitudes and knowledge about inflation and monetary policy in Germany conducted in December 2021
Hayo, Bernd - 2022
inflation and monetary policy, including: 1) inflation perceptions and expectations, 2) interest in and subjective, as well as …
Persistent link: https://www.econbiz.de/10013168978
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Documentation paper: representative survey on attitudes and knowledge about inflation and monetary policy in Germany conducted in December 2022
Hayo, Bernd - 2023 - This version: 30 June 2023
difference affecting answers lies in the different time of inflation environment, i.e. low in 2021 and high in 2022. The survey … covers various topics having to do with inflation and monetary policy, including: 1) inflation perceptions and expectations …
Persistent link: https://www.econbiz.de/10014310316
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Explaining inflation in the period of quantitative easing in Japan: Relative-price changes, aggregate demand, and monetary policy
Hayo, Bernd; Ono, Hiroyuki - In: Journal of Asian Economics 36 (2015) C, pp. 72-85
Concentrating on the period of quantitative easing in Japan, this paper reexamines the correlation between the … asymmetry of sectoral relative-price changes and the aggregate inflation rate. This correlation is widely interpreted as … evidence that short-run inflation is determined by supply-side factors; however, we study whether, in addition to the inflation …
Persistent link: https://www.econbiz.de/10011189730