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Economic Policy Uncertainty in Europe : spillovers and common shocks
Baxa, Jaromír; Šestořád, Tomáš - 2024
This paper proposes a novel approach to decompose the Economic Policy Uncertainty indices of European countries into the common and country-specific components using the time-varying total connectedness. Then, by employing a Bayesian panel VAR model, we assess how common and country-specific...
Persistent link: https://www.econbiz.de/10015069591
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Macroeconomic imbalances and institutional reforms in the EMU
Ederer, Stefan - 2015
The paper summarises the channels and mechanisms which lead to the emergence of macroeconomic imbalances in the EMU before, in and after the crisis of 2008/09. It focuses on the role of the specific institutional setting of the EMU in these developments and outlines the key reforms which are...
Persistent link: https://www.econbiz.de/10011337035
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Macroeconomic Policy Making and Current Account Imbalances in the Euro Area
Murai, Taiki; Schnabl, Gunther - 2021
The paper analyses the role of fiscal and monetary policy for the development of the current account imbalances in the euro area, including the most recent developments during the coronavirus crisis. Several financial transmission channels such as international bank lending, changes in TARGET2...
Persistent link: https://www.econbiz.de/10013221180
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Transmission of sovereign risk in the euro crisis
Brutti, Filippo; Filippo, Sauré - 2012
We assess the role of financial linkages for the transmission of sovereign risk in the Euro Crisis. Building on the …
Persistent link: https://www.econbiz.de/10009539631
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Facing the Global Financial Cycle : What Role for Policy
Batini, Nicoletta; Durand, Luigi - 2021
Abstract In this paper we ask whether countries can influence their exposure to changes in global financial conditions. Specifically, we show that even though we can model cross-country capital flows via a global factor that closely tracks changes in global financial conditions, there is a large...
Persistent link: https://www.econbiz.de/10013243053
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Uncertainty and episodes of extreme capital flows in the Euro area
Schmidt, Torsten; Zwick, Lina - 2013
In der Euro-Krise gingen starke Änderungen in internationalen Kapitalflüssen mit großer makroökonomischer Unsicherheit einher. Zwar ist es offensichtlich, dass beide Faktoren ökonomische Schocks auslösen bzw. verstärken können, es ist aber derzeit unklar, inwiefern sie direkt miteinander...
Persistent link: https://www.econbiz.de/10010221882
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Uncertainty and Episodes of Extreme Capital Flows in the Euro Area
Schmidt, Torsten - 2014
flows. We find that country-specific risk factors seem to play a more important role than global risk factors. Moreover …
Persistent link: https://www.econbiz.de/10013055820
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Disinflation and monetary independence in Romania
Goczek, Lukasz - In: Baltic journal of economics 15 (2015) 1, pp. 65-79
parametric hypotheses concerning the speed and asymmetry of adjustment to verify the risk premium and the nature of transmission …
Persistent link: https://www.econbiz.de/10011890553
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Forecasting with a DSGE model of a small open economy within the Monetary Union
Marcellino, Massimiliano; Rychalovska, Yuliya - In: Journal of forecasting 33 (2014) 5, pp. 315-338
Persistent link: https://www.econbiz.de/10010425650
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International effects of euro area versus US policy uncertainty : a FAVAR approach
Belke, Ansgar; Osowski, Thomas - 2017
shock. According to our results, an increase in uncertainty has a strong negative impact on economic activity, consumer …. Uncertainty does not only impact that country where the shock originates but also has large cross-border effects. In that respect … the responses of national variables to a (foreign) uncertainty shock, indicating evidence of an international business …
Persistent link: https://www.econbiz.de/10011691548