Showing 1 - 10 of 12
The importance of coffee to the world economy cannot be underestimated. It is one of the most widely traded … drinking coffee is an integral way of life. The global coffee consumption reached 128 million bags in 2007 and 130 million in … 2008. Total consumption of coffee has grown by 2% per year and this trend is likely to continue. Coffee demand in Middle …
Persistent link: https://www.econbiz.de/10011439227
Persistent link: https://www.econbiz.de/10009638708
cooperation with Colombia over the period 2002-2011. It also aims at identifying key lessons in order to improve the current and …
Persistent link: https://www.econbiz.de/10011799366
The aim of this paper is twofold. First, for West Germany, France, Italy and US, we econometrically select within a SVAR model some fiscal policy regimes, i.e. a u0094set of rulesu0094 for the implementation of fiscal policies. Second, we identify the fiscal policy shocks related to different...
Persistent link: https://www.econbiz.de/10009635887
To measure contagion empirically, we propose using a Bayesian time-varying coefficient model estimated with Markov ChainMonte Carlo methods. The proposed measure works in the joint presence of heteroskedasticity and omitted variables and does not require knowledge of the timing of the crisis. It...
Persistent link: https://www.econbiz.de/10009635914
This paper investigates the pass-through of external shocks, i.e. oil price shocks, exchange rate shocks, and non-oil import price shocks to euro area inflation at different stages of distribution (import prices, producer prices and consumer prices). The analysis is based on a VAR model that...
Persistent link: https://www.econbiz.de/10009635958
This paper uses the co-incidence of extreme shocks to banksu0092 risk to examine within country and across country contagion among large EU banks. Banksu0092 risk is measured by the first difference of weekly distances to default and abnormal returns. Using Monte Carlo simulations, the paper...
Persistent link: https://www.econbiz.de/10009636520
By placing store-level price data into bivariate Structural VAR models of inflation and relative price asymmetry, this study evaluates the quantitative importance of idiosyncratic pricing shocks in short-run aggregate price change dynamics. Robustly to alternative definitions of the relative...
Persistent link: https://www.econbiz.de/10009636524
worker, job creation and job destruction conditional on a shock to monetary policy. Moreover, allowing for variation of the … helps to explain the sluggishness of inflation and the persistence of output after a monetary policy shock. The ability of …
Persistent link: https://www.econbiz.de/10009636527
A central puzzle in international finance is that real exchange rates are volatile and, in stark contradiction to effcient risk-sharing, negatively correlated with cross-country consumption ratios. This paper shows that incomplete asset markets and a low price elasticity of tradables can account...
Persistent link: https://www.econbiz.de/10009636531