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Economic Integration and the Foreign Exchange
Weber, Enzo - Sonderforschungsbereich Ökonomisches Risiko <Berlin> - 2007
-round integration of two economies. Empirically, such a constellation is found between Australia and New Zealand, whereas diverging … trends in money and interest rates characterise the relation of Australia towards the US. …
Persistent link: https://www.econbiz.de/10005861005
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Die Privatisierung der öffentlichen Arbeitsverwaltung am Beispiel Australiens
Bruttel, Oliver - 2002
Australien dar. Außerdem wird eine erste Analyse der Erfahrungen vor dem theoretischenHintergrund der Neuen Institutionenökonomik …
Persistent link: https://www.econbiz.de/10005843660
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The Trade and Welfare Impact of AustralianQuarantine Policies: The Case of Pigmeat
Beghin, John C.; Melatos, Mark - Iowa State University of Science and Technology <Ames, … - 2011
, we account for changes to Australia’s pigmeat quarantinepolicy over time including those changes related to the recent … resolution of a WTO disputebetween Australia and the European Union. Using a random utility model, and applying it tocorner … regimes implemented by Australia during the period 1988-2009. The welfare impact on consumers, producers, and foreign …
Persistent link: https://www.econbiz.de/10009360665
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optimal monetary Policy in a new keynesian model with habits in consumption
Leith, Campbell; Moldovan, Ioana; Rossi, Raffaele - European Central Bank - 2009
While consumption habits have been utilised as a means of generating a hump shapedoutput response to monetary policy shocks in sticky-price New Keynesian economies,there is relatively little analysis of the impact of habits (particularly, external habits) onoptimal policy. In this paper we...
Persistent link: https://www.econbiz.de/10005866485
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Oil shocks and optimal monetary policy
Montoro, Carlos - Bank for International Settlements / Monetary and … - 2010
In practice, central banks have been confronted with a trade-off between stabilising inflation and output when dealing with rising oil prices. This contrasts with the result in the standard New Keynesian model that ensuring complete price stability is the optimal thing to do, even when an oil...
Persistent link: https://www.econbiz.de/10005870912
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Optimal Policy Under Model Uncertainty: A Structural-Bayesian Estimation Approach
Kriwoluzky, Alexander; Stoltenberg, Christian - Sonderforschungsbereich Ökonomisches Risiko <Berlin> - 2007
In this paper we propose a novel methodology to analyze optimal policies undermodel uncertainty in micro-founded macroeconomic models. As an application weassess the relevant sources of uncertainty for the optimal conduct of monetary policy within (parameter uncertainty) and across models...
Persistent link: https://www.econbiz.de/10005861002
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Fiscal Policy Rules in Practice
Thams, Andreas - Sonderforschungsbereich Ökonomisches Risiko <Berlin> - 2007
This paper analyzes German and Spanish fiscal policy using simple policy rules. We choose Germany and Spain, as both are Member States in the European Monetary Union (EMU) and underwent considerable increases in public debt in the early 1990s. We focus on the question, how fiscal policy behaves...
Persistent link: https://www.econbiz.de/10005861048
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Rules, Discretion or Reputation? Monetary Policies and the Efficiency of Financial Markets in Germany, 14th to 16th Centuries
Volckart, Oliver - Sonderforschungsbereich Ökonomisches Risiko <Berlin> - 2007
This paper examines the questions of whether and how feudal rulers were able tocredibly commit to preserving monetary stability, and of which consequences theirdecisions had for the efficiency of financial markets. The study reveals that princes were usually only able to commit to issuing a...
Persistent link: https://www.econbiz.de/10005861191
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Real Balance Effects, Timing and Equilibrium Determination
Stoltenberg, Christian - Sonderforschungsbereich Ökonomisches Risiko <Berlin> - 2006
This paper examines whether the existence and the timing of real balance effects contribute to the determination of the absolute price level, as suggested byPatinkin (1949,1965), and if they affect conditions for local equilibrium uniqueness and stability. I show that there exists a unique price...
Persistent link: https://www.econbiz.de/10005861263
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External Shocks, U.S. Monetary Policy and Macroeconomic Fluctuations inEmerging Markets
Maćkowiak, Bartosz - Sonderforschungsbereich Ökonomisches Risiko <Berlin> - 2006
Using structural VARs, I find that external shocks are an important source of macroeconomic fluctuations in emerging markets. Furthermore, U.S. monetary policy shocks affect quickly and strongly interest rates and the exchange rate in a typical emerging market. The price level and real output in...
Persistent link: https://www.econbiz.de/10005861629