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The transmission of German monetary policy in the pre-Euro period
Lütkepohl, Helmut; Wolters, Jürgen - 2001
A small macroeconomic model is constructed to study the transmission of the monetary policy conducted by the Deutsche Bundesbank (DBB) since the middle of the 1970s. For this purpose quarterly, seasonally unadjusted data for the period from 1975 to 1998 are used, that is, the period until the...
Persistent link: https://www.econbiz.de/10010310406
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A money demand system for German M3
Wolters, JØrgen; LØtkepohl, Helmut - In: Empirical Economics 23 (1998) 3, pp. 371-386
A small macroeconomic model is constructed starting from a German money demand relation for M3 based on quarterly … model for M3, GNP, an inflation rate and an interest rate spread variable to represent opportunity costs of holding money …. Furthermore, import price inflation is added as an exogenous variable. The model is used to analyze the relation between money …
Persistent link: https://www.econbiz.de/10005758323
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The transmission of German monetary policy in the pre-Euro period
Lütkepohl, Helmut; Wolters, Jürgen - Sonderforschungsbereich 373, Quantifikation und … - 2001
A small macroeconomic model is constructed to study the transmission of the monetary policy conducted by the Deutsche Bundesbank (DBB) since the middle of the 1970s. For this purpose quarterly, seasonally unadjusted data for the period from 1975 to 1998 are used, that is, the period until the...
Persistent link: https://www.econbiz.de/10010983578
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Multiple breaks in lending rate pass-through A cross country study for the euro area
Lorenzo, Gianluca Di; Marotta, Giuseppe - Dipartimento di Economia "Marco Biagi", Università … - 2006
A new approach is proposed for searching multiple unknown breaks, possibly associated with EMU, in the short term business lending rate pass-through. Multiple breaks are detected in five out of nine countries of the euro area. The last break occurs much before the start of EMU for France,...
Persistent link: https://www.econbiz.de/10008517804
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Structural breaks in the interest rate pass-through and the euro. A cross-country study in the euro area and the UK
Marotta, Giuseppe - Dipartimento di Economia "Marco Biagi", Università … - 2006
We search for breaks in the short term business lending rate pass-through in euro countries, possibly associated with the introduction of the euro. One break is detected in six national retail rates among EMU countries; two breaks are found in other six cases, and in the UK as well. The last...
Persistent link: https://www.econbiz.de/10008517806
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A less effective monetary transmission in the wake of EMU? Evidence from lending rates pass-through
Lorenzo, Gianluca Di; Marotta, Giuseppe - Dipartimento di Economia "Marco Biagi", Università … - 2005
A new approach to search for structural breaks in the retail lending rates pass-through in the wake of EMU is proposed and implemented for Italy and Portugal. The econometric exercise shows that breakpoints cluster in the second semester 1999 and that the pass-through on short term lending is,...
Persistent link: https://www.econbiz.de/10008517821
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A less effective monetary transmission in the wake of EMU? Evidence from lending rates pass-through
Lorenzo, Gianluca Di; Marotta, Giuseppe - Dipartimento di Economia "Marco Biagi", Università … - 2005
A new approach to search for structural breaks in the retail lending rates pass-through in the wake of EMU is proposed and implemented for Italy and Portugal. The econometric exercise shows that breakpoints cluster in the second semester 1999 and that the pass-through on short term lending is,...
Persistent link: https://www.econbiz.de/10005196396
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Structural breaks in the lending interest rate pass-through and the euro
Marotta, Giuseppe - Dipartimento di Economia "Marco Biagi", Università … - 2008
that a reduced volatility in money market rates is bound to mitigate uncertainty and to ease therefore the transfer of …
Persistent link: https://www.econbiz.de/10005416792
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Multiple breaks in lending rate pass-through A cross country study for the euro area
Lorenzo, Gianluca Di; Marotta, Giuseppe - Dipartimento di Economia "Marco Biagi", Università … - 2006
A new approach to search for structural breaks in the retail lending rA new approach is proposed for searching multiple unknown breaks, possibly associated with EMU, in the short term business lending rate pass-through. Multiple breaks are detected in five out of nine countries of the euro area....
Persistent link: https://www.econbiz.de/10005416795
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Structural breaks in the interest rate pass-through and the euro. A cross-country study in the euro area and the UK
Marotta, Giuseppe - Dipartimento di Economia "Marco Biagi", Università … - 2006
We search for breaks in the short term business lending rate pass-through in euro countries, possibly associated with the introduction of the euro. One break is detected in six national retail rates among EMU countries; two breaks are found in other six cases, and in the UK as well. The last...
Persistent link: https://www.econbiz.de/10005636195