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The Great Depression and the Friedman-Schwartz hypothesis
Christiano, Lawrence; Motto, Roberto; Rostagno, Massimo - 2004
simple and familiar one. The contraction phase was primarily a consequence of a shock that induced a shift away from … slowness of the recovery from the Depression was due to a shock that increased the market power of workers. We identify a …
Persistent link: https://www.econbiz.de/10009636549
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Equilibrium unemployment, job flows and inflation dynamics
Trigari, Antonella - 2004
general equilibrium model that integrates a theory of equilibrium unemployment into a monetary model with nominal price … 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
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Measuring contagion with a Bayesian, time-varying coefficient model
Ciccarelli, Matteo; Rebucci, Alessandro - 2003
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
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Measurement of contagion in banks' equity prices
Gropp, Reint; Moerman, Gerard - 2003
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
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Inflation and relative price asymmetry
Ratfai, Attila - 2004
. Robustly to alternative definitions of the relative price, identification schemes dictated by two-sided (S,s) pricing theory …
Persistent link: https://www.econbiz.de/10009636524
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Monetary policy shocks in the euro area and global liquidity spillovers
Sousa, João; Zaghini, Andrea - 2004
including a global liquidity aggregate. The impulse responses obtained show that a positive shock to extra-euro area liquidity …
Persistent link: https://www.econbiz.de/10009636532
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What are the spill-overs from fiscal shocks in Europe?
Giuliodori, Massimo; Beetsma, Roel - 2004
We use a Vector Auto Regression (VAR) analysis to explore the (spill-over) effects of fiscal policy shocks in Europe. To enhance comparability with the existing literature, we first analyse the effects of these shocks at the national level. Here, we employ identification based on Choleski...
Persistent link: https://www.econbiz.de/10009636548
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On the indeterminacy of determinacy and indeterminacy
Beyer, Andreas; Farmer, Roger E. A. - 2003
determinate equilibrium driven by fundamentals. Given assumptions about the shock distribution of model 2, it is possible to find …
Persistent link: https://www.econbiz.de/10009635896
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Industrial relations developments in Europe 2009
Carley, Mark; McKay, Sonia; Miller, Jean-Michel - 2010
This annual review highlights the most significant developments that took place in industrial relations in the EU Member States and Norway in 2009, both at national and EU level. It first sets out the political context, then goes on to examine levels of coverage of collective bargaining, and...
Persistent link: https://www.econbiz.de/10011929350
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Industrial relations and working conditions developments in Europe 2010
Sweeney, Ben; Curtarelli, Maurizio; Aumayr, Christine - 2011
With a particular focus on the crisis and responses to it, this annual review highlights developments in working conditions and industrial relations in the EU Member States and Norway in 2010, both at national and EU level. At national level, the report examines key issues covered by collective...
Persistent link: https://www.econbiz.de/10011929352