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Álvarez, Luis J.; Hernando, Ignacio - 2004

This paper identifies the basic features of the price setting mechanism in the Spanish economy, using a large dataset that contains over 1.1 million price records and covers around 70% of the expenditure on the CPI basket. In particular, the paper identifies differences in the frequency and size...

Persistent link: https://www.econbiz.de/10009639476

Predicting recession probabilities with financial variables over multiple horizons

Fornari, Fabio; Lemke, Wolfgang - 2010

-used probit approach, but the dynamics of regressors are endogenized using a VAR. The combined model is called a ‘ProbVAR’. At any … point in time, the ProbVAR allows to generate conditional recession probabilities for any sequence of forecast horizons. At … the same time, the ProbVAR is as easy to implement as traditional probit regressions. The slope of the yield curve turns …

Persistent link: https://www.econbiz.de/10009640285

Firms' reactions to the crisis and their consequences for the labour market

Kwapil, Claudia - 2010

This article is based on the results of two company surveys - the first was conducted in 2007, before the recession 2008/2009 hit Austria, and the second was conducted in 2009 shortly after the trough of it. We analyse firms’ reactions to the crisis and focus on their labour market relevant...

Persistent link: https://www.econbiz.de/10009640421

Behavioural characteristics and financial distress

McCarthy, Yvonne - 2011

Using a new nationally representative survey of financial capability and experience in the UK and Ireland, I investigate the key factors that cause individuals to experience financial distress. In this context, a key area that I focus on is whether individuals’ behavioural traits, such as...

Persistent link: https://www.econbiz.de/10009640636

Determinants of credit-less recoveries

Bijsterbosch, Martin; Dahlhaus, Tatjana - 2011

panel probit models to analyse key determinants of credit-less recoveries. Our main findings are the following. First, our … estimated panel probit models suggest that credit-less recoveries are typically preceded by large declines in economic activity …

Persistent link: https://www.econbiz.de/10009640847

Consumer inflation expectations in Poland

£yziak, Tomasz - 2003

Inflation expectations constitute a subject of particular contemporary interest to central banks, especially those pursuing a monetary policy based on a strategy of direct inflation targeting. Macroeconomic theory indicates that the transmission of monetary policy impulses and their impact on...

Persistent link: https://www.econbiz.de/10009635882

Consumption, habit persistence, imperfect information and the lifetime budget constraint

Willman, Alpo - 2003

Based on the householdsu0092 utility maximisation, a closed form approximation of the consumption function is derived and the deep parameters of the consumption function are estimated using aggregate euro area data. The novel element in our approach is the parameterisation of the information...

Persistent link: https://www.econbiz.de/10009635925

How much does the public know about the ECB's monetary policy?

Cruijsen, Carin van der; Jansen, David-Jan; Haan, Jakob de - 2010

Does the general public know what central banks do? Is this kind of knowledge relevant? Using a survey of Dutch households, we investigate these questions for the case of the European Central Bank (ECB). Our findings suggest that knowledge on the ECB’s objectives is far from perfect. Both a...

Persistent link: https://www.econbiz.de/10009640274

Mortgage indebtedness and household financial distress

Georgarakos, Dimitris; Lojschova, Adriana; … - 2010

Using comparable survey data from twelve European countries from 1994 to 2001 we investigate households’ attitudes towards mortgage indebtedness. We find that a given debt burden creates much higher distress in countries with fewer mortgage holders relative to countries where a significant...

Persistent link: https://www.econbiz.de/10009640403

Choosing and using payment instruments

Kalckreuth, Ulf von; Schmidt, Tobias; Stix, Helmut - 2009

Germans are still very fond of using cash. Of all direct payment transactions, cash accounts for an astounding 82% in terms of number, and for 58% in terms of value. With a new and unique dataset that combines transaction information with survey data on payment behaviour of German consumers, we...

Persistent link: https://www.econbiz.de/10009640426