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Assessing the optimality of euro adoption in Romania through shock correlations
Bodea, Adrian - In: European journal of government and economics : EJGE 10 (2021) 2, pp. 107-127
shock correlations between Romania and many other European economic entities, while also isolating the effect of post 2005 …
Persistent link: https://www.econbiz.de/10013174010
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What Drives EMU Current Accounts? A Time Varying Structural VAR Approach
Podstawski, Maximilian - 2016
Current account imbalances have been a decisive feature of the European banking and sovereign debt crisis. This paper investigates the drivers of euro area current accounts, their divergence and subsequent rebalancing, within a structural model accommodating potential regime changes at the...
Persistent link: https://www.econbiz.de/10012992498
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The spillover of euro area shocks to the Maltese economy
Gatt, William; Ruisi, Germano - 2022
the Maltese economy. The model focuses on five broad macroeconomic shocks hitting the euro area; an aggregate demand shock … global market for oil, a generic monetary policy shock encompassing both conventional and unconventional interventions, and a … financial stress shock. The model is estimated using Bayesian methods over a sample that goes from 2003Q1 to 2019Q4 and …
Persistent link: https://www.econbiz.de/10012818649
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Euro area monetary policy transmission in Estonia
Errit, Gertrud; Uusküla, Lenno - In: Baltic journal of economics 14 (2014) 1/2, pp. 55-77
This paper studies the effect of a monetary policy shock in the euro area on the main Estonian economic and financial … effects on Estonian GDP, private consumption, corporate investment, and imports. A monetary policy shock also has strong and …
Persistent link: https://www.econbiz.de/10011890463
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The current account and monetary policy in the euro area
Schuler, Tobias; Sun, Yiqiao - 2022
We investigate the factors driving current account and monetary policy developments in the euro area. We estimate an open-economy structural vector autoregression (VAR) model with zero and sign restrictions derived from a multi-country dynamic stochastic general equilibrium (DSGE) model to...
Persistent link: https://www.econbiz.de/10013329445
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Monetary Policy in a Data-Rich Environment
Boivin, Jean; Bernanke, Ben S. - 2001
Most empirical analyses of monetary policy have been confined to frameworks in which the Federal Reserve is implicitly assumed to exploit only a limited amount of information, despite the fact that the Fed actively monitors literally thousands of economic time series. This article explores the...
Persistent link: https://www.econbiz.de/10014128744
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On the empirical relevance of the exchange rate as a shock absorber at the zero lower bound
Finck, David; Hoffmann, Mathias; Hürtgen, Patrick - 2023 - February 3, 2023
We estimate the effects of a negative asymmetric demand shock on the real exchange rate for the euro area vis-à-vis the … output, confirming its shock-absorbing capacity before and during the ZLB episode. The stabilizing role of the exchange rate …
Persistent link: https://www.econbiz.de/10014320485
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Does One Monetary Policy Fit All? The Determinants of Inflation in Emu Countries
Boschi, Melisso - 2008
This chapter aims at assessing the long-run determinants and the short-run dynamics of inflation in each country belonging to the European Monetary Union (EMU). Our work complements the recent literature on this topic for the Euro Area as a whole. Detecting such determinants can be crucial in...
Persistent link: https://www.econbiz.de/10012726729
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The macroeconomic impact of unconventional monetary policy shocks
Meinusch, Annette; Tillmann, Peter - 2014
With the Federal Funds rate approaching the zero lower bound, the U.S. Federal Reserve adopted a range of unconventional monetary policy measures known as Quantitative Easing (QE). Quantifying the impact QE has on the real economy, however, is not straightforward as standard tools such as VAR...
Persistent link: https://www.econbiz.de/10010338158
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Nominal wage flexibility, wage indexation and monetary union
Calmfors, Lars; Johansson, Åsa - 2002
Membership in a monetary union implies stronger incentives for nominal wage flexibility in the form of wage indexation and shorter contract length than nonmembership. For example, entry into a monetary union may cause a move from a non-indexation to an indexation equilibrium. But more wage...
Persistent link: https://www.econbiz.de/10011410646