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On Quantitative Easing and High Frequency Exchange Rate Dynamics
Kenourgios, Dimitris - 2015
affected in mean and volatility. The empirical results indicate: (i) a direct negative impact on GBP and JPY and no effect of … their volatility around the QE announcements of the corresponding central banks, (ii) a delayed devaluation of EUR and an … increase of its volatility before and after the ECB's announcements. Furthermore, the behavior of dynamic conditional …
Persistent link: https://www.econbiz.de/10013028646
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Monetary policy in the presence of supply constraints : evidence from German firm-level data
Balleer, Almut; Nöller, Marvin - 2023
Using firm-level survey data from Germany, this paper asks how do supply constraints propagate monetary policy shocks? To answer this question, we first offer a general discussion on the measurement of supply constraints. We show that capacity utilization, a widely accepted measure of...
Persistent link: https://www.econbiz.de/10013540705
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Monetary policy in the presence of supply constraints : evidence from German firm-level data
Balleer, Almut; Nöller, Marvin - 2023
Beschränkungen in Zeiten einer lockeren Geldpolitik einen erheblichen Inflationsdruck ausüben. …
Persistent link: https://www.econbiz.de/10014466940
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Monetary Policy in the Presence of Supply Constraints : Evidence from German Firm-Level Data
Balleer, Almut; Noeller, Marvin - 2023
Using firm-level survey data from Germany, this paper asks how do supply constraints propagate monetary policy shocks? To answer this question, we first offer a general discussion on the measurement of supply constraints. We show that capacity utilization, a widely accepted measure of...
Persistent link: https://www.econbiz.de/10014261028
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Finanzmarktvolatilität und monetäre Unsicherheit
Kratz, Karlheinz - 1994
Persistent link: https://www.econbiz.de/10013428800
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Inflation expectations and the recovery from the Great Depression in Germany
Daniel, Volker; Ter Steege, Lucas - 2018
A regime shift towards increased inflation expectations is credited with jumpstarting the recovery from the Great Depression in the United States. Germany experienced a recovery as fast and strong in the 1930s. What role did inflation expectations play at the start of this remarkable economic...
Persistent link: https://www.econbiz.de/10012159651
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The Labour Market in a Keynesian Economic Regime : Theoretical Debate and Empirical Findings
Herr, Hansjörg - 2010
In a Keynesian mode of thinking wages become the nominal anchor for the price level because unit-labour costs in a closed economy represent the most important factor in determining the price level. The second most important driver of price level changes is the exchange rate. A positive economic...
Persistent link: https://www.econbiz.de/10013151089
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Alternative measures of price inflation and the perception of real income in Germany
Israel, Karl-Friedrich; Schnabl, Gunther - 2020
Since the 1980s inflationary pressures seem to materialize overproportionately outside of the sectors of consumer goods and services. We combine the Harmonized Index of Consumer Prices with indices for asset prices, such as stocks and real estate, as well as the costs of public goods to develop...
Persistent link: https://www.econbiz.de/10012291889
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A Single Monetary Policy for Heterogeneous Labour Markets : The Case of the Euro Area
Gomes, Sandra; Jacquinot, Pascal; Lozej, Matija - 2023
Differences in labour market institutions and regulations between countries of the monetary union can cause divergent responses even to a common shock. We augment a multi-country model of the euro area with search and matching framework that differs across Ricardian and hand-to-mouth households....
Persistent link: https://www.econbiz.de/10014258210
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Nicht zu früh bremsen! : der Einfluss der Geldpolitik auf die langfristige Wirtschaftsentwicklung in Deutschland und den USA
Schettkat, Ronald; Sun, Rongrong - 2009
Neutralität von Geldpolitik wurde diese bei der Suche nach den Ursachen europäischer Arbeitslosigkeit verschont. Tatsächlich … Arbeitsmarktinstitutionen. Wir argumentieren, dass das Zusammenwirken negativer Schocks und einer restriktiven Geldpolitik die wesentliche –wenn … Europa war. Die Bundesbank –Europas „Zentralbank“ vor Etablierung der EZB- hat eine asymmetrische Geldpolitik in dem Sinne …
Persistent link: https://www.econbiz.de/10003836155