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An estimate of the potential growth of the Spanish economy
Hernández de Cos, Pablo; Urtasun Amann, Alberto; …
Persistent link: https://www.econbiz.de/10012529498
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A menu on output gap estimation methods
Álvarez González, Luis Julián; Gómez Loscos, Ana - 2017
En este trabajo se presenta una revisión de las técnicas de modelación del output gap (brecha de producción), que son de especial interés para diferentes instituciones en la formulación de políticas. Se distingue entre procedimientos univariantes —que estiman la producción tendencial a...
Persistent link: https://www.econbiz.de/10012530559
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Asymmetrische Effekte der Geldpolitik auf die Industrie in der Bundesrepublik Deutschland - eine Untersuchung auf Branchenebene
Hock, Thorsten - 2003
einer Dominanz der Geldpolitik als Angebotsschock erklärt werden. Zu einem großen Teil bleibt die identifizierte …
Persistent link: https://www.econbiz.de/10009433722
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Langfristige Neutralität der Geldpolitik?
Schmid, Kai Daniel - 2010
realwirtschaftlich wirksamen, langfristig jedoch neutralen Geldpolitik inzwischen nahezu selbstverständlich akzeptiert zu sein … multifactor productivity through technical progress. Moreover, unemployment may forward the emergence of long-term unemployment …, monetary policy may not frivolously exploit supply’s elasticity for expansionary stimulus. This is not only due to the fact …
Persistent link: https://www.econbiz.de/10009451189
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Demystifying the supply of capital and labour in a nation?s economic chain
Zhou, Jie; Picken, David; Liu, Chunlu - 2010
Public capital has been considered to be the wheels of economic activity in a nation or region. The reverse effect, the contribution of economic growth to public capital, is also worth analysis. The non-structural vector auto-regression (VAR) approach is performed for the Australian economy...
Persistent link: https://www.econbiz.de/10009484080
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Oil prices and their effect on potential output
Estrada García, Angel; Hernández de Cos, Pablo - 2009
Despite the relevance in terms of policy, we still know little in Spain about where and by whom jobs are created, and how that is affecting the size distribution of firms. The main innovation of this paper is to use a rich database that overcomes the problems encountered by other firm-level...
Persistent link: https://www.econbiz.de/10012529544
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Economic effects of a possible prolonged deterioration in the general health of the Spanish population
Hurtado López, Samuel; Izquierdo Peinado, Mario
Rationale The last year has seen growing demand for healthcare services, but the causes of this increase, and how persistent it will be, are as yet uncertain. Should these dynamics prove to be long-lasting and associated with a prolonged deterioration in the general health of the Spanish...
Persistent link: https://www.econbiz.de/10014283509
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Adjustment is Much Slower than You Think
Caballero, Ricardo J.; Engel, Eduardo M.R.A. - 2003
In most instances, the dynamic response of monetary and other policies to shocks is infrequent and lumpy. The same holds for the microeconomic response of some of the most important economic variables, such as investment, labor demand, and prices. We show that the standard practice of estimating...
Persistent link: https://www.econbiz.de/10009444189
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Dynamic effects of persistent shocks
Alloza, Mario; Gonzalo, Jesús; Sanz, Carlos
We show that several shocks identifi ed without restrictions from a model, and frequently used in the empirical literature, display some persistence. We demonstrate that the two leading methods to recover impulse responses to shocks (moving average representations and local projections) treat...
Persistent link: https://www.econbiz.de/10012523677
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Recent changes in investment in Spain from a macroeconomic perspective
Aguilar, Pablo; Ghirelli, Corinna; Jiménez García, Blanca
Rationale Cyclical fluctuations in investment are usually sharper than fluctuations in other components of aggregate demand. This article aims to analyse, based on an econometric model, the role played by interest rates, demand and agents’ confidence (the drivers traditionally studied in the...
Persistent link: https://www.econbiz.de/10014313347