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The effects of fiscal policy in an estimated DSGE model : the case of the German stimulus packages during the great recession
Drygalla, Andrej; Holtemöller, Oliver; Kiesel, Konstantin - 2018
In this paper, we analyse the effects of the stimulus packages adopted by the German government during the Great Recession. We employ a standard mediumscale dynamic stochastic general equilibrium (DSGE) model extended by nonoptimising households and a detailed fiscal sector. In particular, the...
Persistent link: https://www.econbiz.de/10011804350
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International Spill-Overs of Uncertainty Shocks : Evidence from a FAVAR
Kamber, Güneş - 2016
transmission of the uncertainty shock to a small open economy …
Persistent link: https://www.econbiz.de/10012981902
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Is there an information channel of monetary policy?
Holtemöller, Oliver; Kriwoluzky, Alexander; Kwak, Boreum - 2024
shocks and study their effects on financial variables and macro variables. The first shock resembles a conventional monetary … policy shock, and the second resembles an unconventional monetary shock. The third shock leads to an increase in interest … and uncertainty decrease, and the U.S. dollar depreciates. Therefore, this third shock combines all the characteristics of …
Persistent link: https://www.econbiz.de/10014560738
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What macroeconomic shocks affect the German banking system? : analysis in an integrated micro-macro model
Blank, Sven; Dovern, Jonas - 2009
We analyze what macroeconomic shocks affect the soundness of the German banking system and how this, in turn, feeds back into the macroeconomic environment. Recent turmoils on the international financial markets have shown very clearly that assessing the degree to which banks are vulnerable to...
Persistent link: https://www.econbiz.de/10003897348
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The importance of global shocks for national policy makers : rising challenges for central banks
Belke, Ansgar; Rees, Andreas - 2009
We analyze the importance of global shocks for the global economy and national policy makers. More specifically, we investigate whether monetary policy has become less effective in the wake of financial globalization. We also examine whether there is increasing uncertainty for central banks due...
Persistent link: https://www.econbiz.de/10003884937
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The macroeconomic impact of financial and uncertainty shocks
Caldara, Dario; Fuentes-Albero, Cristina; Gilchrist, Simon - 2016
The extraordinary events surrounding the Great Recession have cast a considerable doubt on the traditional sources of macroeconomic instability. In their place, economists have singled out financial and uncertainty shocks as potentially important drivers of economic fluctuations. Empirically...
Persistent link: https://www.econbiz.de/10011563004
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The Macroeconomic Impact of Financial and Uncertainty Shocks
Caldara, Dario - 2016
The extraordinary events surrounding the Great Recession have cast a considerable doubt on the traditional sources of macroeconomic instability. In their place, economists have singled out financial and uncertainty shocks as potentially important drivers of economic fluctuations. Empirically...
Persistent link: https://www.econbiz.de/10013210407
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Loan supply shocks during the financial crisis : evidence for the Euro Area
Hristov, Nikolay; Hülsewig, Oliver; Wollmershäuser, Timo - 2011
This paper employs a panel vector autoregressive model for the member countries of the Euro Area to explore the role of banks during the slump of the real economy that followed the financial crisis. In particular, we seek to quantify the macroeconomic effects of adverse loan supply shocks, which...
Persistent link: https://www.econbiz.de/10009012054
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Loan Supply Shocks During the Financial Crisis : Evidence for the Euro Area
Hristov, Nikolay; Hülsewig, Oliver; Wollmershaeuser, Timo - 2021
This paper employs a panel vector autoregressive model for the member countries of the Euro Area to explore the role of banks during the slump of the real economy that followed the financial crisis. In particular, we seek to quantify the macroeconomic effects of adverse loan supply shocks, which...
Persistent link: https://www.econbiz.de/10013316038
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Time-varying effects of financial uncertainty shocks on macroeconomic fluctuations in Peru
Alvarado, Mauricio; Rodriguez, Gabriel - 2024 - This version: November 27, 2023
Persistent link: https://www.econbiz.de/10014526328