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Staatsfinanzierung und Notenbank : Referate u. Diskussionszsfassungen d. Symposiums am 4./5. April 1984 in Innsbruck/Igls

Socher, Karl (ed.); Smekal, Christian (contributor) - 1984

Persistent link: https://www.econbiz.de/10013409387

Testing for Parameter Stability in DSGE Models. The Cases of France, Germany, Italy, and Spain

Jerger, Jürgen; Röhe, Oke - 2012

We estimate a New Keynesian DSGE model on French, German, Italian, and Spanish data. The main aim of this paper is to check for the respective sets of parameters that are stable over time, making use of the ESS procedure ('Estimate of Set of Stable parameters') developed by Inoue and Rossi...

Persistent link: https://www.econbiz.de/10010294717

Upswing in Europe gains momentum, but unemployment remains high

Gern, Klaus-Jürgen; Scheide, Joachim; Schlie, Markus - 1997

The expansion of Western European production accelerated in the first half of 1997. Exports were the main engine, driven by a devaluation of European currencies and strong growth abroad. Domestic demand also picked up somewhat led by investment in machinery and equipment. Inflation remained at...

Persistent link: https://www.econbiz.de/10010295104

Higher economic growth through macroeconomic policy coordination? The combination of wage policy and monetary policy

Gern, Klaus-Jürgen; Meier, Carsten-Patrick; Scheide, … - 2003

Strengthening potential output is high on the agenda for economic policy in the European Union. While there is widespread agreement that structural policies have a positive impact on long-term growth, there is a controversial discussion whether coordination of macroeconomic policies can...

Persistent link: https://www.econbiz.de/10010295183

Asset Prices in Taylor Rules: Specification, Estimation, and Policy Implications for the ECB

Siklos, Pierre L.; Werner, Thomas; Bohl, Martin T. - 2004

This paper estimates standard and extended Taylor rules for core countries in the euro area, namely France, Germany and Italy, as well as for the ECB. Forward, backward and forecast-based rules are estimated for a variety of samples since the late 1970s. We are particularly interested in the...

Persistent link: https://www.econbiz.de/10010295649

Towards a Joint Characterization of Monetary Policy and the Dynamics of the Term Structure of Interest Rates

Fendel, Ralf - 2004

The paper develops an empirical no-arbitrage Gaussian affine term structure model to explain the dynamics of the German term structure of interest rates from 1979 through 1998. In contrast to most affine term structure models two risk factors that drive the dynamics are linked to observable...

Persistent link: https://www.econbiz.de/10010295651

How the Bundesbank really conducted monetary policy: An analysis based on real-time data

Gerberding, Christina; Worms, Andreas; Seitz, Franz - 2004

Papers estimating the reaction function of the Bundesbank generally find that its monetary policy from the 1970s to 1998 can well be captured by a standard Taylor rule according to which the central bank responds to the output gap and to deviations of inflation from target, but not to monetary...

Persistent link: https://www.econbiz.de/10010295652

The information content of survey data on expected price developments for monetary policy

Gerberding, Christina - 2001

The present paper uses survey data on expected consumer price developments to analyse the role of inflation expectations in the inflation process. The survey measures of price expectations are derived from the European Commission's Consumer Survey and from the surveys of professional experts...

Persistent link: https://www.econbiz.de/10010295707

Interbank lending and monetary policy transmission: evidence for Germany

Ehrmann, Michael; Worms, Andreas - 2001

This paper presents empirical evidence on the behaviour of interbank lending in Germany after a monetary policy impulse. Our VAR analysis shows that following a monetary contraction, the banking system as a whole attracts additional funds from foreign banks. Whereas small cooperative and savings...

Persistent link: https://www.econbiz.de/10010295709

A Vectorautoregressive Investment Model (VIM) and Monetary Policy Transmission: Panel Evidence from German Firms

von Kalckreuth, Ulf; Chirinko, Robert S.; Breitung, Jörg - 2003

In diesem Papier wird ein neuer Rahmen für die Untersuchung der Wirkungen von Geldpolitik auf privatwirtschaftliche …, Geldpolitik ist wirksam, und privatwirtschaftliche Investitionen reagieren auf Änderungen der in den Kapitalnutzungskosten … erhöht die geschätzte Wirkung von Geldpolitik um ein Drittel im Vergleich zur Simulation einer isolierten …

Persistent link: https://www.econbiz.de/10010295752

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