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Does Money Growth Granger-Cause Inflation in the Euro Area? Evidence from Out-of-Sample Forecasts Using Bayesian VARs
Berger, Helge; Österholm, Pär - 2007
-causes inflation in the euro area. Based on data from 1970 to 2006 and forecasting horizons of up to 12 quarters, there is surprisingly … power of money growth for inflation is substantially lower in more recent sample periods compared to the 1970s and 1980s …. This cautions against using money-based inflation models anchored in very long samples for policy advice. …
Persistent link: https://www.econbiz.de/10010321554
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Does money growth Granger-cause inflation in the Euro area? : evidence from out-of-sample forecasts using Bayesian VARs
Berger, Helge (contributor); Österholm, Pär (contributor) - 2007
Persistent link: https://www.econbiz.de/10003604583
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Does money growth Granger-cause inflation in the Euro area? : evidence from out-of-sample forecasts using Bayesian VARs
Berger, Helge; Österholm, Pär - 2008
Persistent link: https://www.econbiz.de/10003700837
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Does money growth granger cause inflation in the Euro Area? : evidence from out-of-sample forecasts using Bayesian VARs
Berger, Helge; Österholm, Pär - In: The economic record : er 87 (2011), pp. 45-60
Persistent link: https://www.econbiz.de/10008987818
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Does Money Growth Granger-Cause Inflation in the Euro Area? Evidence from Out-of-Sample Forecasts Using Bayesian VARs
Berger, Helge - 2008
-causes inflation in the euro area. Based on data from 1970 to 2006 and forecasting horizons of up to 12 quarters, there is surprisingly … power of money growth for inflation is substantially lower in more recent sample periods compared to the 1970s and 1980s …. This cautions against using money-based inflation models anchored in very long samples for policy advice …
Persistent link: https://www.econbiz.de/10012772303
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Does Money Growth Granger-Cause Inflation in the Euro Area? : Evidence From Out-Of-Sample Forecasts Using Bayesian Vars
Österholm, Pär - 2008
-causes inflation in the euro area. Based on data from 1970 to 2006 and forecasting horizons of up to 12 quarters, there is surprisingly … power of money growth for inflation is substantially lower in more recent sample periods compared to the 1970s and 1980s …. This cautions against using money-based inflation models anchored in very long samples for policy advice …
Persistent link: https://www.econbiz.de/10014401871
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Money as an Indicator Variable for Monetary Policy When Money Demand is Forward Looking
Kajanoja, Lauri - 2003
This paper studies the gain from using money as an indicator when monetary policy is made under data uncertainty. We use a forward and backward looking model, calibrated for the euro area. The policymaker cannot completely observe the state of the economy. Money reveals some of the private...
Persistent link: https://www.econbiz.de/10014075710
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Estimating the effects of the Eurosystem's asset purchase programme at the country level
Mandler, Martin; Scharnagl, Michael - 2020
inflation, generally, are much weaker. We find substantial cross-country heterogeneity with the largest price level effects in … Spain while output effects were smallest in France and inflation effects were smallest in Italy. …
Persistent link: https://www.econbiz.de/10012222564
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Monetary policy and macroprudential policy : rivals or teammates?
Malovana, Simona; Frait, Jan - 2016
This paper sheds some light on situations in which monetary and macroprudential policies may interact (and potentially get into conflict) and contributes to the discussion about the coordination of those policies. Using data for the Czech Republic and five euro area countries we show that...
Persistent link: https://www.econbiz.de/10011568572
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What caused the euro area post-pandemic inflation? : an application of Bernanke and Blanchard (2023)
Arce, Óscar; Ciccarelli, Matteo; Kornprobst, Antoine; … - 2024
inflation and inflation expectations in the euro area. It is part of a broader project coordinated by Bernanke and Blanchard to … provide a unified framework for analysing and comparing global inflation dynamics across the major world economic areas … conducts an empirical assessment of how euro area price inflation responds to various exogenous shocks. This includes …
Persistent link: https://www.econbiz.de/10014480036