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Fiscal policy and inflation volatility
Rother, Philipp C. - 2004
Among the harmful effects of inflation, the negative consequences of inflation volatility are of particular concern … inflation volatility. Major results are robust for unconditional and conditional inflation volatility, the latter derived from …
Persistent link: https://www.econbiz.de/10009636540
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Government deficits, wealth effects and the price level in an optimizing model
Annicchiarico, Barbara - 2003
This paper investigates the in inflationary effects of fscal policy in an optimizing general equilibrium monetary model with capital accumulation, exible prices and wealth effects. The model is calibrated to Euro Area quarterly data. Simulation results show that government defcits, high debt...
Persistent link: https://www.econbiz.de/10009635879
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The 2008 Financial Crisis and Taxation Policy
Hemmelgarn, Thomas - 2010
Persistent link: https://www.econbiz.de/10009639922
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Forecasting euro area inflation
Hubrich, Kirstin - 2003
Monitoring and forecasting price developments in the euro area is essential in the light of the second pillar of the ECBu0092s monetary policy strategy. This study analyses whether the forecasting accuracy of forecasting aggregate euro area inflation can be improved by aggregating forecasts of...
Persistent link: https://www.econbiz.de/10009635954
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A markup model of inflation for the euro area
Bowdler, Christopher; Jansen, Eilev S. - 2004
Equilibrium correction models of the price level are often used to model inflation. Such models assume that the long …
Persistent link: https://www.econbiz.de/10009636529
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Is inflation persistence intrinsic in industrial economies?
Levin, Andrew T.; Piger, Jeremy M. - 2004
We apply both classical and Bayesian econometric methods to characterize the dynamic behavior of inflation for twelve … 1990s. Allowing for a break in intercept, the inflation measures generally exhibit relatively low inflation persistence …. Evidently, high inflation persistence is not an inherent characteristic of industrial economies. …
Persistent link: https://www.econbiz.de/10009636705
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Has euro-area inflation persistence changed over time?
O'Reilly, Gerard; Whelan, Karl - 2004
This paper analyzes the stability over time of the econometric process for Euro-area in nation since 1970, focusing in particular on the behaviour of the so-called persistence parameter (the sum of the coeffcients on the lagged dependent variables). Perhaps surprisingly, in light of the Lucas...
Persistent link: https://www.econbiz.de/10009636706
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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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Level, slope, curvature of the sovereign yield curve, and fiscal behaviour
Afonso, António; Martins, Manuel M.F. - 2010
We study fiscal behaviour and the sovereign yield curve in the U.S. and Germany in the period 1981:I-2009:IV. The latent factors, level, slope and curvature, obtained with the Kalman filter, are used in a VAR with macro and fiscal variables, controlling for financial stress conditions. In the...
Persistent link: https://www.econbiz.de/10009640508
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Fiscal developments and financial stress
Afonso, António; Baxa, Jaromír; Slavík, Michal - 2011
We use a threshold VAR analysis to study whether the effects of fiscal policy on economic activity differ depending on financial market conditions. In particular, we investigate the possibility of a non-linear propagation of fiscal developments according to different financial market stress...
Persistent link: https://www.econbiz.de/10009640695