Narrow search
Showing 1 - 10 of 472
Cover Image
Equilibrium unemployment, job flows and inflation dynamics
Trigari, Antonella - 2004
In order to explain the joint fluctuations of output, inflation and the labor market, this paper first develops a … helps to explain the sluggishness of inflation and the persistence of output after a monetary policy shock. The ability of … the model to account for the joint dynamics of output and inflation rely on its ability to explain the dynamics in the …
Persistent link: https://www.econbiz.de/10009636527
Cover Image
A structural common factor approach to core inflation estimation and forecasting
Morana, Claudio - 2004
principal components estimator, suited to estimate systems of fractionally cointegrated processes. The proposed core inflation … measure is the scaled common persistent factor in inflation and excess nominal money growth and bears the interpretation of … monetary inflation. The proposed measure is characterised by all the properties that an u0093idealu0094 core inflation process …
Persistent link: https://www.econbiz.de/10009636528
Cover Image
Indeterminacy and search theory
Giammarioli, Nicola - 2003
This paper investigates a dynamic general equilibrium model with search. In particular, search externalities are reßected by an increasing returns to scale matching function, which may imply an indeterminate equilibrium. Hence, the model is capable to generate business ßuctuations, driven by...
Persistent link: https://www.econbiz.de/10009635902
Cover Image
Fiscal sustainability and public debt in an endogenous growth model
Fernández-Huertas Moraga, Jesús; Vidal, Jean-Pierre - 2004
This paper investigates fiscal sustainability in an overlapping generations economy with endogenous growth coming from human capital formation through educational spending. We assess how budgetary imbalances affect economic dynamics and the outlook for economic growth, thereby providing a...
Persistent link: https://www.econbiz.de/10009639455
Cover Image
The short-term impact of government budgets on prices
Henry, Jérôme; Hernández de Cos, Pablo; Momigliano, … - 2004
This paper reviews the existing empirical evidence on the short-term impact on prices of fiscal variables and assesses it against new results from harmonised simulations, conducted with six well-established econometric models used by the ECB and five national central banks (NCBs) of the...
Persistent link: https://www.econbiz.de/10009639456
Cover Image
Exploring the international linkages of the euro area
Dées, Stéphane; Mauro, Filippo di; 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/10009639926
Cover Image
Towards expenditure rules and fiscal sanity in the euro area
Hauptmeier, Sebastian; Fuentes, Jesus Sanchez; … - 2010
The study looks at primary expenditure developments in the euro area, its three largest members and four “macro-imbalances” countries for the period 1999-2009. It compares actual expenditure trends with those that would have prevailed if countries had followed neutral policies based on...
Persistent link: https://www.econbiz.de/10009640273
Cover Image
Supply, demand and monetary policy shocks in a multi-country New Keynesian Model
Dées, Stéphane; Pesaran, M. Hashem; Smith, L. Vanessa; … - 2010
-specific models include a Phillips curve determining inflation, an IS curve determining output, a Taylor Rule determining interest … global vector autoregression. The resulting rational expectations model is then estimated for 33 countries on data for 1980Q1 …
Persistent link: https://www.econbiz.de/10009640301
Cover Image
Putting the New Keynesian DSGE model to the real-time forecasting test
Kolasa, Marcin; Rubaszek, Michał; Skrzypczyński, Paweł - 2009
period of 1994-2008. Except for short-term forecasts of inflation and interest rates, it is as good as or clearly outperforms …
Persistent link: https://www.econbiz.de/10009640469
Cover Image
Euro area labour markets
Bruha, Jan; Pierluigi, Beatrice; Serafini, Roberta - 2011
force component, a trend labour productivity component, a long-run inflation rate and a trend hours worked component. The …
Persistent link: https://www.econbiz.de/10009640610