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This paper investigates the credit channel in Germany and the United Kingdom. The financial systems of these two … competition among credit intermediaries, resulting in a declining dependence on banks in Germany. …
Persistent link: https://www.econbiz.de/10010301764
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Recent theoretical research has studied extensively the link between wage setting and monetary policymaking in unionized economies. This paper addresses the question of the role of monetary uncertainty from both an empirical and theoretical point of view. Our analysis is based on a simple model...
Persistent link: https://www.econbiz.de/10011604536
This paper re-investigates the implications of monetary policy rules on changes in exchange rate, in a risk-adjusted, uncovered interest parity model with unrestricted parameters, emphasizing the importance of modeling market expectations of monetary policy. I use consensus forecasts as a proxy...
Persistent link: https://www.econbiz.de/10010305998
comparable enterprise level data from France, Germany, and the United Kingdom. Exporters are more productive and pay higher wages … significantly smaller in Germany, significantly larger in France, and does not differ significantly in the UK. The results for wages … services firms into exporting does not show up among firms from France and the UK where no statistically significant …
Persistent link: https://www.econbiz.de/10010286601
prototypical New Keynesian model fit to Japanese data exhibits orthodox dynamics during Japan's episode with zero interest rates …. We then demonstrate that this specification is more consistent with outcomes in Japan than alternative specifications …
Persistent link: https://www.econbiz.de/10010292223
Persistent link: https://www.econbiz.de/10010300928
This paper analyzes the international transmission effects of euro area monetary policy shocks in to other western European countries, namely the United Kingdom, Sweden, Switzerland, Denmark, and Norway. For this purpose, we use a structural VAR model of the euro area and augment it...
Persistent link: https://www.econbiz.de/10010285721
Persistent link: https://www.econbiz.de/10010265298
-specific factors. In an empirical analysis of term structures of government bond yields for the Germany, Japan, the U.K. and the U …
Persistent link: https://www.econbiz.de/10010303750