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Bond market inflation expectations and longer-term trends in broad monetary growth and inflation in industrial countries, 1880 - 2001

Dewald, William G. - 2003

u0093Bond Market Inflation Expectation and Longer-term Trends in Broad Monetary Growth and Inflation in Industrial … in inflation that were matched by growth rates in M2 and nominal GDP but not real GDP in each country and cross …-country averages. Inflationary expectations as estimated by bond rates less real growth trends indicated little inflation expectation …

Persistent link: https://www.econbiz.de/10009635923

Longer-term effects of monetary growth on real and nominal variables, major industrial countries, 1880-2001

Haug, Alfred A.; Dewald, William G. - 2004

We study how fluctuations in money growth correlate with fluctuations in real and nominal output growth and inflation … contemporaneously affects nominal output growth and inflation in the longer run. This result holds despite differences in policies and …

Persistent link: https://www.econbiz.de/10009639436

Comparing shocks and frictions in US and euro area business cycles

Smets, Frank; Wouters, Raf - 2004

This paper estimates a DSGE model with many types of shocks and frictions for both the US and the euro area economy over a common sample period (1974-2002). The structural estimation methodology allows us to investigate whether differences in business cycle behaviour are due to differences in...

Persistent link: https://www.econbiz.de/10009639451

Credit risk transfers and the macroeconomy

Faia, Ester - 2010

exacerbate the effect of productivity and other macroeconomic shocks on output and inflation. By offering a possibility of …

Persistent link: https://www.econbiz.de/10009640284

Involuntary unemployment and the business cycle

Christiano, Lawrence J.; Trabandt, Mathias; Walentin, Karl - 2010

capital and use the resulting model to discuss the concept of the ‘non-accelerating inflation rate of unemployment’. We then …

Persistent link: https://www.econbiz.de/10009640338

Financial factors in economic fluctuations

Christiano, Lawrence; Motto, Roberto; Rostagno, Massimo - 2010

We augment a standard monetary DSGE model to include a banking sector and financial markets. We fit the model to Euro Area and US data. We find that agency problems in financial contracts, liquidity constraints facing banks and shocks that alter the perception of market risk and hit financial...

Persistent link: https://www.econbiz.de/10009640348

Monetary policy, housing booms and financial (im)balances

Eickmeier, Sandra; Hofmann, Boris - 2010

house price inflation, strong private debt growth and low credit risk spreads. The results suggest that (i) monetary policy …

Persistent link: https://www.econbiz.de/10009640363

Market power and fiscal policy in OECD countries

Afonso, António; Costa, Luís F. - 2010

We compute average mark-ups as a measure of market power throughout time and study their interaction with fiscal policy and macroeconomic variables in a VAR framework. From impulse-response functions the results, with annual data for a set of 14 OECD countries covering the period 1970-2007, show...

Persistent link: https://www.econbiz.de/10009640368

Global commodity cycles and linkages a FAVAR approach

Lombardi, Marco; Osbat, Chiara; Schnatz, Bernd - 2010

In this paper we examine linkages across non-energy commodity price developments by means of a factor-augmented VAR model (FAVAR). From a set of non-energy commodity price series, we extract two factors, which we identify as common trends in metals and a food prices. These factors are included...

Persistent link: https://www.econbiz.de/10009640371

Food price pass-through in the euro area

Ferrucci, Gianluigi; Jiménez-Rodríguez, Rebeca; … - 2010

In this paper we analyse the pass-through of a commodity price shock along the food price chain in the euro area. Unlike the existing literature, which mainly focuses on food commodity prices quoted in international markets, we use a novel database that accounts for the role of the Common...

Persistent link: https://www.econbiz.de/10009640389