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Fiscal policy, housing and stock prices
Afonso, António; Sousa, Ricardo M. - 2009
This paper investigates the link between fiscal policy shocks and movements in asset markets using a Fully Simultaneous System approach in a Bayesian framework. Building on the works of Blanchard and Perotti (2002), Leeper and Zha (2003), and Sims and Zha (1999, 2006), the empirical evidence for...
Persistent link: https://www.econbiz.de/10003826474
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Would the Bundesbank Have Prevented the Great Inflation in the United States?
Benati, Luca - 2009
Policy counterfactuals based on estimated structural VARs routinely suggest that bringing Alan Greenspan back in the 1970s' United States would not have prevented the Great Inflation. We show that a standard policy counterfactual suggests that the Bundesbank – which is near-universally...
Persistent link: https://www.econbiz.de/10013153230
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Fiscal policy, housing and stock prices
Afonso, António; Sousa, Ricardo M. - 2008
Persistent link: https://www.econbiz.de/10010376816
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Would the Bundesbank have prevented the Great Inflation in the United States?
Benati, Luca - In: Journal of economic dynamics & control 35 (2011) 7, pp. 1106-1125
Persistent link: https://www.econbiz.de/10009241494
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Would the Bundesbank have prevented the Great Inflation in the United States?
Benati, Luca - 2009
Policy counterfactuals based on estimated structural VARs routinely suggest that bringing Alan Greenspan back in the 1970s' United States would not have prevented the Great Inflation. We show that a standard policy counterfactual suggests that the Bundesbank - which is near-universally credited...
Persistent link: https://www.econbiz.de/10003969295
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Vermögenspreisblasen und Geldpolitik : eine kritische Analyse geldpolitischer Handlungsmöglichkeiten
2010
Grundlagen der Geldpolitik 5 2.1 Ziele der Geldpolitik … 5 2.2 Strategien der Geldpolitik 8 2.2.1 Geldmengensteuerung … 5.4.2 Die Auswirkungen von Vermögenspreisblasen in den USA 113 5.4.3 Die Auswirkungen von …
Persistent link: https://www.econbiz.de/10008661926
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Stock and sovereign returns linkages : time-varying causality and extreme-quantile determinants
Afonso, António; Alves, José; Grabowski, Wojciech; … - 2025
We employ a cross-quantilogram approach to assess relationships between quantiles of stock returns and sovereign yields, in the U.S. and Germany, in the period 1990-2024. Specifically, we focus on the lowest 5% quantile of stock returns and the highest 5% quantile of bond returns, providing...
Persistent link: https://www.econbiz.de/10015197299
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House prices and interest rates : Bayesian evidence from Germany
Hanck, Christoph; Prüser, Jan - In: Applied economics 52 (2020) 28, pp. 3073-3089
Persistent link: https://www.econbiz.de/10012221482
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House prices and interest rates : Bayesian evidence from Germany
Hanck, Christoph; Prüser, Jan - 2016
impliziert einen potentiellen Nachteil der aktuellen Geldpolitik der EZB. Die a priori Information schrumpft die BVAR …
Persistent link: https://www.econbiz.de/10011494870
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What drives the German TARGET balances? : evidence from a BVAR approach
Bettendorf, Timo; Jochem, Axel - 2021
Applying a BVAR model, the present paper first identifies the possible drivers of Germany's TARGET claims. In this context, in terms of potential causes, a distinction is made between a rise in the global risk assessment, tensions within the euro area, and European monetary policy. It becomes...
Persistent link: https://www.econbiz.de/10012510162