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US Monetary Policy in a Globalized World
Cuaresma, Jesús Crespo; Doppelhofer, Gernot; … - 2016
find that a contractionary US monetary policy shock leads to a persistent fall in international output, a drop in global … negative shock to foreign real GDP growth. …
Persistent link: https://www.econbiz.de/10013370122
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Macroeconomic factors and micro-level bank risk
Buch, Claudia M.; Eickmeier, Sandra; Prieto, Esteban - 2010
this link using a factor-augmented vector autoregressive model (FAVAR) which extends a standard VAR for the U …
Persistent link: https://www.econbiz.de/10010302760
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Macroeconomic factors and micro-level bank risk
Buch, Claudia M.; Eickmeier, Sandra; Prieto, Esteban - 2010
this link using a factor-augmented vector autoregressive model (FAVAR) which extends a standard VAR for the U …
Persistent link: https://www.econbiz.de/10010274932
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Explaining ECB and Fed interest rate correlation: Economic interdependence and optimal monetary policy
Mandler, Martin - 2010
This paper studies whether the observed high correlation between monetary policy in the U.S. and the Euro area can be explained by economic fundamentals, i.e. by macroeconomic interdependence between the two regions. We show that an optimal monetary policy reaction function for the ECB that...
Persistent link: https://www.econbiz.de/10010286383
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Following Germany's Lead : Using International Monetary Linkages to Identify the Effect of Monetary Policy on the Economy
di Giovanni, Julian; McCrary, Justin; von Wachter, Till - 2005
Forward-looking behavior on the part of the monetary authority leads least squares estimates to understate the true growth consequences of monetary policy interventions. We present instrumental variables estimates of the impact of interest rates on real output growth for several European...
Persistent link: https://www.econbiz.de/10010262211
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The international transmission of euro area monetary policy shocks
Jannsen, Nils; Klein, Melanie - 2011
policy shock in the euro area leads to a largely similar change in the interest rate and in GDP in these other western …
Persistent link: https://www.econbiz.de/10010285721
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How do credit supply shocks propagate internationally? A GVAR approach
Eickmeier, Sandra; Ng, Tim - 2011
We study how credit supply shocks in the US, the euro area and Japan are transmitted to other economies. We use the recently-developed GVAR approach to model financial variables jointly with macroeconomic variables in 33 countries for the period 1983-2009. We experiment with inter-country links...
Persistent link: https://www.econbiz.de/10010307706
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Exploring the international linkages of the euro area: a global VAR analysis
Dées, Stéphane; di Mauro, Filippo; Pesaran, Hashem; … - 2005
This paper presents a quarterly global model linking individual country vector errorcorrecting models in which the domestic variables are related to the country-specific foreign variables. The global VAR (GVAR) model is estimated for 26 countries, the euro area being treated as a single economy,...
Persistent link: https://www.econbiz.de/10011604614
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Money and monetary policy transmission in the euro area: evidence from FAVAR- and VAR approaches
Blaes, Barno - 2009
monetary aggregates to a one-off monetary policy shock. We find that - as theory suggests - money growth is dampened by a …
Persistent link: https://www.econbiz.de/10010298834
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Geldpolitik und Vermögensmärkte
Dreger, Christian; Wolters, Jürgen - In: Vierteljahrshefte zur Wirtschaftsforschung 78 (2009) 1, pp. 56-65
die USA, den Euroraum, Japan und Großbritannien spezifiziert. Während die Geldpolitik keinen Einfluss auf die Entwicklung …. Andererseits wäre im Fall steigender Vermögenspreise eine restriktivere Geldpolitik erforderlich, die die Dynamik von Produktion … eine restriktivere Geldpolitik bei nicht fundamental begründeten Preissteigerungen tatsächlich dämpfend auf die Entwicklung …
Persistent link: https://www.econbiz.de/10010377866