Showing 1 - 10 of 19,596
Persistent link: https://www.econbiz.de/10000323822
Persistent link: https://www.econbiz.de/10002794490
Persistent link: https://www.econbiz.de/10001674074
The monetary economy has properties that cannot be analyzed using the tools of today's dynamic general equilibrium analysis. Keynes's economics, far from being an aberration in the otherwise orderly evolution of modern macroeconomics from Adam Smith's ideas about the invisible hand, was a major...
Persistent link: https://www.econbiz.de/10010291902
Recent research has found that the dynamic properties of the New Keynesian model can be very different when the nominal interest rate is zero. Improvements in technology and reductions in the labor tax rate lower economic activity, and the size of the government purchase output multiplier can be...
Persistent link: https://www.econbiz.de/10010292223
In the fall of 1999, the recovery in Euroland is back on track. The turnaround was caused by the improvement in the world economy. After exports had been depressed in the past winter due to the weak demand in the crisis countries particularly in Asia, the impulses from abroad have picked up...
Persistent link: https://www.econbiz.de/10010294960
Differenzen zwischen den nationalen Geldmarktzinsen können schon vor Beginn der einheitlichen Geldpolitik abgebaut werden, wenn … mehr und die Preiswirkungen der expansiveren Geldpolitik werden erst später in der Währungsunion auftreten und damit auf … alle Länder verteilt. Mit der insgesamt expansiveren Geldpolitik werden die europäischen Währungen gegenüber Drittwährungen …
Persistent link: https://www.econbiz.de/10010295066
Pre-Accession Transition Countries (PATCs) aim at early admittance to the monetary club. Their fiscal indicators – deficit and debt - do not show any serious symptoms. Closer scrutiny reveals, however, that the interest burden of their public debt might be underestimated, and that...
Persistent link: https://www.econbiz.de/10010295720
In this paper, we investigate the relationship between stock returns and short-term interest rates. Identification of the stock return-interest rate relation is solved by using a new technique that relies on the heteroskedasticity of shocks to stock market returns. We suggest some improvements...
Persistent link: https://www.econbiz.de/10010295762
This paper investigates how the implementation of monetary policy affects the dynamics and the volatility of the federal funds rate. Since the early 1980s, the most important changes in the Fed?s conduct of monetary policy refer to the role of the federal funds rate target and the reserve...
Persistent link: https://www.econbiz.de/10010298035