Similar Search Results

Strong exports and low interest rates drive Euroland's economy

Gern, Klaus-Jürgen; Meier, Carsten-Patrick; Scheide, … - 1999

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

Auf dem Weg zum Euro - Szenarien für Zinsen, Wechselkurse und Konjunktur

Scheide, Joachim; Solveen, Ralph - 1997

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

Upswing in Europe gains momentum, but unemployment remains high

Gern, Klaus-Jürgen; Scheide, Joachim; Schlie, Markus - 1997

The expansion of Western European production accelerated in the first half of 1997. Exports were the main engine, driven by a devaluation of European currencies and strong growth abroad. Domestic demand also picked up somewhat led by investment in machinery and equipment. Inflation remained at...

Persistent link: https://www.econbiz.de/10010295104

Euroland: Strong upswing, risks to price level stability

Kamps, Christophe; Meier, Carsten-Patrick; Scheide, Joachim - 2000

The Euroland economy is in a strong upswing. Last year, real GDP increased at a rate roughly equal to that of potential output in spite of the export losses in the wake of the crises in various countries of the world. There have been considerable impulses from monetary policy. Because of the...

Persistent link: https://www.econbiz.de/10010295192

Identifying the role of labor markets for monetary policy in an estimated DSGE model

Christoffel, Kai Philipp; Küster, Keith; Linzert, Tobias - 2006

We focus on a quantitative assessment of rigid labor markets in an environment of stable monetary policy. We ask how wages and labor market shocks feed into the inflation process and derive monetary policy implications. Towards that aim, we structurally model matching frictions and rigid wages...

Persistent link: https://www.econbiz.de/10010295805

Stock Performance around Share Repurchase Announcements in Germany

Stehle, Richard; Seifert, Udo - 2003

Empirical studies of open-market share repurchases in the U.S. typically find a mean abnormal return around the announcement day of about 3%. In Germany share repurchases were highly restricted before May 1998. Since then firms have repurchased shares in the open market more than 250 times....

Persistent link: https://www.econbiz.de/10010296483

Taylor Rules and Macroeconomic Instability or How the Central Bank Can Pre-empt Sunspot Expectations

Weder, Mark - 2003

This paper derives new results on the effects of employing Taylor rules in economies that are subject to real market imperfections such as production externalities. Taylor rules that aggressively respond to output can eliminate sunspot equilibria that arise from the increasing returns. The paper...

Persistent link: https://www.econbiz.de/10010296484

The role of expectations in economic fluctuations and the efficacy of monetary policy

Kurz, Mordecai; Jin, Hehui; Motolese, Maurizio - 2003

We show diverse beliefs is an important propagation mechanism of fluctuations, money non neutrality and efficacy of monetary policy. Since expectations affect demand, our theory shows economic fluctuations are mostly driven by varying demand not supply shocks. Using a competitive model with...

Persistent link: https://www.econbiz.de/10010298249

The mistake of 1931: A general equilibrium analysis

Eggertsson, Gauti B.; Pugsley, Benjamin - 2006

This paper studies a dynamic general equilibrium model with sticky prices and rational expectations in an environment of low interest rates and deflationary pressures. We show that small changes in the public's beliefs about the future inflation target of the government can lead to large swings...

Persistent link: https://www.econbiz.de/10010298355

Identifying the role of labor markets for monetary policy in an estimated DSGE model

Christoffel, Kai; Kuester, Keith; Linzert, Tobias - 2006

Persistent link: https://www.econbiz.de/10010298356