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Bayesian state-space modeling for analyzing heterogeneous network effects of US monetary policy

Hauzenberger, Niko; Pfarrhofer, Michael - 2019

Understanding disaggregate channels in the transmission of monetary policy to the real and financial sectors is of crucial importance for effectively implementing policy measures. We extend the empirical econometric literature on the role of production networks in the propagation of shocks along...

Persistent link: https://www.econbiz.de/10012126211

Productivity and the ('synthetic') euro-dollar exchange rate

Schnatz, Bernd; Vijselaar, Focco; Osbat, Chiara - 2003

This paper analyses the impact of productivity developments in the United States and the euro area on the euro-dollar exchange rate. The paper presents a new measure of relative average labour productivity (ALP), which does not suffer from the biases implicit in readily available relative ALP...

Persistent link: https://www.econbiz.de/10009639842

Do Actions Speak Louder than Words? Assessing the Effects of Inflation Targeting Track Records on Macroeconomic Performance

Zhang, Zhongxia; Wang, Shiyi - 2022

their macroeconomic performance, measured by real GDP growth and CPI inflation. This paper constructs three novel inflation … not lead to superior growth and inflation rates in the short term …

Persistent link: https://www.econbiz.de/10014237876

Nonlinear monetary policy rules : an essay in the comparative study on Egyptian and Tunisian central banks

Baaziz, Yosra; Labidi, Moez - In: Economies : open access journal 4 (2016) 2, pp. 1-18

The purpose of this paper is to evaluate the behavior of monetary authorities in Tunisia and Egypt, in response to changes in macroeconomic variables over time based on LSTR model. In this sense, we estimate Taylor-type equations for short-term interest rate in Tunisia and Egypt using quarterly...

Persistent link: https://www.econbiz.de/10011499480

Nonlinear relationship between exchange rate volatility and economic growth

Phiri, Andrew - 2018

economic growth in South Africa. By using data collected from 1970 to 2016 applied to a smooth transition regression (STR …) model, we are able to prove that the exchange rate-economic growth correlation is indeed nonlinear within the sampled time … volatility positively and significantly influences economic growth when growth in government spending is below 6 percent. Above …

Persistent link: https://www.econbiz.de/10011870188

Towards the estimation of equilibrium exchange rates for CEE acceding countries

Maeso-Fernandez, Francisco; Osbat, Chiara; Schnatz, Bernd - 2004

This paper provides a discussion of methodological issues relating to the estimation of the long-run relationship between exchange rates and fundamentals for Central and Eastern European acceding countries, focusing on the so-called behavioural equilibrium exchange rate (BEER) approach. Given...

Persistent link: https://www.econbiz.de/10009639407

Global Liquidity and Exchange Market Pressure in Emerging Market Economies

Hossfeld, Oliver - 2018

We analyse the relationship between global liquidity and exchange market pressure in 32 emerging market economies. Exchange market pressure is a measure of excess currency demand that is applicable across different exchange rate regimes as it accounts for changes in exchange rates, foreign...

Persistent link: https://www.econbiz.de/10012920744

Global liquidity and exchange market pressure in emerging market economies

Hossfeld, Oliver; Pramor, Marcus - 2018

Persistent link: https://www.econbiz.de/10011820941

International transmission of interest rates : the role of international reserves and sovereign debt

Afonso, António; Huart, Florence; Jalles, João Tovar; … - 2021

We analyse the international transmission of interest rates by focusing on the role of the accumulation of international reserves and on the financing of sovereign debt. An increase in foreign exchange reserves is expected to moderate the influence of U.S. interest rates. However, a high level...

Persistent link: https://www.econbiz.de/10012504452

Exchange rate pass-through, monetary policy and real shocks : an empirical evaluation

Aguirre, Horacio A.; González Padilla, Héctor Gustavo - 2019 - This version: January 2019

sharply in recent decades in Latin America; money growth tends to be strongly associated to short-run exchange rate pass … through, with a small influence of real shocks such as terms-of-trade changes; money growth is also associated to long …

Persistent link: https://www.econbiz.de/10012020009