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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
, distinguishing between (almost) closed, equally sized, and differently sized economies. Applying Bayesian estimation methods, we …
Persistent link: https://www.econbiz.de/10010126892
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Relative-price changes and demand factors in the period of quantitative easing in Japan
Hayo, Bernd; Ono, Hiroyuki - 2010
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 …, that the positive and significant effect of relative-price change asymmetries on inflation is not robust with respect to …
Persistent link: https://www.econbiz.de/10008695560
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Relative-price changes and demand factors in the period of quantitative easing in Japan
Hayo, Bernd; Ono, Hiroyuki - 2010
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 …, that the positive and significant effect of relative-price change asymmetries on inflation is not robust with respect to …
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 - 2014
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 …, that the positive and significant effect of relative-price change asymmetries on inflation is not robust with respect to …
Persistent link: https://www.econbiz.de/10013059631
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Relative-Price Changes and Demand Factors in the Period of Quantitative Easing in Japan
Hayo, Bernd; Ono, Hiroyuki - Volkswirtschaft Abteilung, Fachbereich … - 2010
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 …, that the positive and significant effect of relative-price change asymmetries on inflation is not robust with respect to …
Persistent link: https://www.econbiz.de/10008642868
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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
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 … and significant effect of relative-price change asymmetries on inflation is not robust with respect to various indicators …
Persistent link: https://www.econbiz.de/10011189730
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Monetary policy in the Euro area : lessons from the first years
Clausen, Volker; Hayo, Bernd - 2002
the euro area. First, regarding policy transmission we offer a three-stage procedure to combine the efficient estimation …
Persistent link: https://www.econbiz.de/10010515674
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Communicating with many tongues : FOMC speeches and US financial market reaction
Hayo, Bernd; Kutan, Ali Mustafa; Neuenkirch, Matthias - 2008
This paper studies the effects of FOMC communication on U.S. financial markets’ returns and volatility using a GARCH model over the period from 1998 to 2006. We build a new data set that includes information on all FOMC speeches, post-meeting statements, monetary policy reports and...
Persistent link: https://www.econbiz.de/10003864447
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Central bank communication and correlation between financial markets : Canada and the United States
Beck, Melanie-Kristin; Hayo, Bernd; Neuenkirch, Matthias - 2012 - This version: 5 January 2012
We study the correlation between pairs of bond and stock markets in Canada and the United States between January 1998 and December 2006 in the framework of Diagonal-BEKK models. Our research question is whether monetary policy action and communication by the Bank of Canada and the Federal...
Persistent link: https://www.econbiz.de/10009409360
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Industry Effects of Monetary Policy in Germany
Hayo, Bernd; Uhlenbrock, Birgit - 1999
This paper is on monetary policy transmission. First, it asks the question whether industries are affected differently by monetary policy shocks. Here both output and price effects are compared. Second, some industry characteristics are explored which may help to understand the existence of...
Persistent link: https://www.econbiz.de/10014190765