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Equal Size, Equal Role? Interest Rate Interdependence between the Euro Area and the United States
Ehrmann, Michael; Fratzscher, Marcel - 2021
This paper investigates whether the degree of interdependence between the United States and the euro area economies has changed with the advent of EMU. It addresses this issue from the perspective of financial markets by analysing the effects of monetary policy and macroeconomic news on daily...
Persistent link: https://www.econbiz.de/10013319350
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Equal Size, Equal Role? Interest Rate Interdependence between the Euro Area and the United States
Ehrmann, Michael; Fratzscher, Marcel - 2005
This paper investigates whether the degree and the nature of economic and monetary policy interdependence between the United States and the euro area have changed with the advent of EMU. Using real-time data, it addresses this issue from the perspective of financial markets by analysing the...
Persistent link: https://www.econbiz.de/10014071471
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Fixing an Impaired Monetary Transmission Mechanism : The Hungarian Experience
Gábriel, Péter - 2016
In the 2000s, after the introduction of inflation targeting, most monetary transmission channels were weak in Hungary, making monetary policy less effective. Inflation expectations were unanchored and fiscal policy was unsustainable. Households and the government built up high debt levels mainly...
Persistent link: https://www.econbiz.de/10012979066
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Are bank loans important for output growth? : a panel analysis of the euro area
Rondorf, Ulrike - In: Journal of international financial markets, … 22 (2012) 1, pp. 103-119
Persistent link: https://www.econbiz.de/10009540837
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Economic growth in the era of unconventional monetary instruments : a FAVAR approach
Fiorelli, Cristiana; Meliciani, Valentina - In: Journal of macroeconomics 62 (2019), pp. 1-20
Persistent link: https://www.econbiz.de/10012243438
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Nicht zu früh bremsen! : der Einfluss der Geldpolitik auf die langfristige Wirtschaftsentwicklung in Deutschland und den USA
Schettkat, Ronald; Sun, Rongrong - 2009
Nahezu alle Institutionen –Kündigungsschutz, Gewerkschaften, Lohnspreizung, Arbeitslosenversicherung etc.- wurde verdächtigt und schuldig gesprochen die tragische Entwicklung der Arbeitslosigkeit in Europa verursacht zu haben. US-amerikanische Arbeitsmarktinstitutionen wurden zum Benchmark...
Persistent link: https://www.econbiz.de/10003836155
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Investigating the inflation-output-nexus for the euro area : old questions and new results
Gerdesmeier, Dieter; Reimers, Hans-Eggert; Roffia, Barbara - 2023
The relationship between inflation and real GDP growth is one of the most widely researched topics in macroeconomics. At the same time, it is certainly not exaggerated to claim that this nexus also stands at the heart of monetary policy, given the fact that low inflation in combination with high...
Persistent link: https://www.econbiz.de/10014305101
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The euro crisis and economic growth : a novel counterfactual approach
Terzi, Alessio - 2019 - This Draft: 25 June 2019
warranted. To make this claim, this paper uses a Propensity Score Matching Model to produce counterfactuals for the Eurozone … more in the Eurozone periphery than in the standard counterfactual scenario. These results are not dictated by any specific … Eurozone’s specificity, which is instead to be traced back to a sharper-than-expected contraction in investment and fiscal …
Persistent link: https://www.econbiz.de/10012033212
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Measuring the natural rate of interest after COVID-19
Holston, Kathryn; Laubach, Thomas; Williams, John C. - 2023
We modify the Laubach-Williams and Holston-Laubach-Williams models of the natural rate of interest to account for time-varying volatility and a persistent COVID supply shock during the pandemic. Resulting estimates of the natural rate of interest in the United States, Canada, and the Euro Area...
Persistent link: https://www.econbiz.de/10014302828
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The dynamic interactions of economic growth, foreign direct investment, and exchange rates in Ghana
Arthur, Benedict; Addai, Bismark - In: Cogent economics & finance 10 (2022) 1, pp. 1-21
This study examines the dynamic interactions among foreign direct investment (FDI), economic growth (GDPG), and real exchange rate (RER) in Ghana using time series data over the period 1996 to 2018, and two econometric models: a trivariate VAR and the ARDL bound test. The results reveal that no...
Persistent link: https://www.econbiz.de/10014500390