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Policy Shocks in a Monetary Asset-Pricing Model with Endogenous Production / Politikeffekte in einem monetären Asset-Pricing-Modell mit Produktion

Schittko, Ulrich K.; Müller, Markus - In: Jahrbücher für Nationalökonomie und Statistik 218 (1999) 1-2, pp. 147-167

Summary In a framework of a monetary asset pricing model with production the effects of monetary and fiscal policy shocks are investigated. The model is kept simple enough to generate explicit formulae for the equilibrium price functions. With money yielding liquidity services in the exchange...

Persistent link: https://www.econbiz.de/10014608656

The Monetary Transmission Mechanism in Egypt

Al-Mashat, Rania; Billmeier, Andreas - In: Review of Middle East Economics and Finance 4 (2008) 3, pp. 32-82

This paper examines the monetary transmission mechanism in Egypt against the background of the central bank's intention to shift to inflation targeting. It first describes the changing transmission channels over the last decade. Second, the channels are evaluated in a VAR model. The exchange...

Persistent link: https://www.econbiz.de/10014618769

Prospects for Inflation Targeting in the MENA Region: Feasibility, Desirability and Alternatives

Yeldan, Erinc A. - In: Review of Middle East Economics and Finance 4 (2008) 3, pp. 83-100

Inflation targeting (IT) has recently become the dominant monetary policy prescription over the last decade. Emerging markets governments, in particular, are increasingly pressured to follow IT as part of their IMF-led stabilization packages and the routine rating procedures of the international...

Persistent link: https://www.econbiz.de/10014618778

Policy Effects in the Post Boom U.S. Economy

Fair, Ray C - In: Topics in Macroeconomics 5 (2005) 1

Abstract The paper analyzes the question why the U.S. economy in the 2000:4--2004:3 period was sluggish in light of the large expansionary fiscal and monetary policies that took place. The answer does not appear to be that there were large structural changes in the economy or systematic bad...

Persistent link: https://www.econbiz.de/10014588398

Monetary and Fiscal Policy Analysis With an Agent-Based Macroeconomic Model

Haber, Gottfried - In: Jahrbücher für Nationalökonomie und Statistik 228 (2008) 2-3, pp. 276-295

Summary Macroeconomic policy analysis is a challenge for agent-based models because these types of model are generally much elaborated on the specific market levels for partial (micro) markets, but have been of limited use for macroeconomic policy issues due to calibration and “model...

Persistent link: https://www.econbiz.de/10014609201

The Politics of Surprise Devaluations: Modelling Motives for Giving Up a Peg

Bohn, Frank - In: Jahrbücher für Nationalökonomie und Statistik 233 (2013) 5-6, pp. 562-574

Summary Planned ‘‘surprise’’ devaluations are often spurred by non-economic circumstances: a rentseeking government; political instability; or the opportunity to put the blame on a predecessor government. In this paper, these aspects are incorporated in the monetary and fiscal policy...

Persistent link: https://www.econbiz.de/10014609461

Growth Implosions and Debt Explosions: Do Growth Slowdowns Cause Public Debt Crises?

Easterly, William R. - In: Topics in Macroeconomics 1 (2001) 1

Abstract The worldwide growth slowdown after 1975 was a major negative fiscal shock; lower growth lowers the present value of tax revenues and primary surpluses and thus makes a given level of debt more burdensome. Most countries failed to adjust to the negative fiscal consequences of the growth...

Persistent link: https://www.econbiz.de/10014588422

Do Smaller Governments Raise the Level or Growth of Output? A Review of Recent Evidence

Gemmell, Norman; Au, Joey - In: Review of Economics 64 (2013) 2, pp. 85-116

Abstract Theoretical developments, improved methodologies and more extensive data have helped generate a dramatic increase in the literature testing for the impact of government size and fiscal policy on economic growth in recent years. We review a range of the more recent evidence and examine...

Persistent link: https://www.econbiz.de/10014619287

Zur Rolle der Geldpolitik im Konjunkturzyklus / On the Role of Monetary Policy in the Business Cycle

Holstein, Michael - In: Jahrbücher für Nationalökonomie und Statistik 218 (1999) 3-4, pp. 346-360

Souveränität in geldpolitischen Fragen an die Europäische Zentralbank ab. Die Geldpolitik scheidet somit als Instrument der … Rezession) zukommt, so kann die Vereinheitlichung der Geldpolitik zu negativen Auswirkungen auf die konjunkturelle Entwicklung … Geldpolitik auf die Entwicklung der kurzfristigen Zinssätze analysiert, um schließlich mittels einer VAR-Analyse Aufschluß über …

Persistent link: https://www.econbiz.de/10014608685

Estimating the Borrowing Behavior of French and German Firms. An Econometric Analysis / Verschuldungsverhalten französischer und deutscher Unternehmen. Eine ökonometrische Analyse...

Kremp, Elizabeth; Stöß, Elmar - In: Jahrbücher für Nationalökonomie und Statistik 221 (2001) 5-6, pp. 620-647

Summary This paper investigates the borrowing behavior of 2,900 French and 1,300 German firms over the 1987-95 period. Both samples based on data sets of the Banque de France and the Deutsche Bundesbank not only include large but also small and medium-sized enterprises. Applying GMM techniques,...

Persistent link: https://www.econbiz.de/10014608858

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